Promissory Note Repayment Sample Clauses

Promissory Note Repayment. In satisfaction of amounts due and owing pursuant to the Advisor Promissory Notes and the Xxxxxxx Promissory Notes as of the CEO Resignation Date, the Company Parties will provide (A) Advisor with a one-time, lump sum payment equal to the Advisor Loan Payment, plus interest (if any) accrued between the CEO Resignation Date and the date of payment in accordance with the applicable Advisor Promissory Notes, and (B) Xxxxxxx with a one-time, lump sum payment equal to the Xxxxxxx Loan Payment, plus interest (if any) accrued between the CEO Resignation Date and the date of payment in accordance with the applicable Xxxxxxx Promissory Notes, in each case, which shall be payable by April 30, 2024. Notwithstanding the foregoing, the Company Parties may pay the Advisor Loan Payment and/or the Xxxxxxx Loan Payment in installments; provided, that, each such loan payment is paid in full no later than April 30, 2024. Without limiting the foregoing, the Company Parties will abide by all other terms of the Advisor Promissory Notes and the Xxxxxxx Promissory Notes, including, without limitation, the payment terms, and this Agreement does not supersede the Company Parties’ respective obligations under the Advisor Promissory Notes and the Xxxxxxx Promissory Notes, including but not limited to their respective obligations to pay any amounts that become due and owing under the terms of the Advisor Promissory Notes and/or the Xxxxxxx Promissory Notes after the CEO Resignation Date.
Sample 1
AutoNDA by SimpleDocs
Promissory Note Repayment. At the election of Investors, the Purchase Price that Investors are required to pay to the Company with respect to the Purchased Shares may be paid either (a) with cash or (b) with a combination of cash and by deeming all indebtedness outstanding under the Promissory Note at Closing, including principal and accrued interest (after giving effect to any Premium (as defined in the Promissory Note)), to be repaid (the “Aggregate Promissory Note Indebtedness”) and thereafter, all amounts outstanding in respect of the Promissory Note, including principal and accrued interest, shall be deemed to be paid in full and all obligations thereunder shall be terminated. If the Closing occurs, Investors and the Company agree that without any further action of Investors or the Company, the Promissory Note shall be deemed to be, and shall be, amended to reduce the Aggregate Promissory Note Indebtedness by $1,275,000.
Sample 1
Promissory Note Repayment. “Promissory Note Repayment” shall mean the date upon which the Promissory Note, executed by and among the Company and the Holder on _________, 2012, is repaid in full.
Sample 1
Promissory Note Repayment. The outstanding amounts owing on the Promissory Note shall be repaid, in full, at the earliest of (i) the First Closing Date, by way of set-off against (i.e., deducted from) the Subscription Amount due by the Investor to the Corporation on the First Closing Date; and (ii) the Outside Date, by way of payment in immediately available funds.
Sample 1
Promissory Note Repayment. At the election of Investors, the Purchase Price that Investors are required to pay to the Company with respect to the Purchased Preferred Shares may be paid either (a) with cash or (b) with a combination of cash and by deeming all indebtedness outstanding under the Promissory Note, including principal and accrued interest (after giving effect to any Premium (as defined in the Promissory Note)), to be repaid. If Investors elect to make payment as set forth in clause (b) of the preceding sentence, thereafter, all amounts outstanding in respect of the Promissory Note (after giving effect to any Premium (as defined in the Promissory Note)), including principal and accrued interest, shall be deemed to be paid in full and all obligations thereunder shall be terminated.
Sample 1

Related to Promissory Note Repayment

  • Promissory Notes Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its permitted registered assigns) and in a form attached hereto as Exhibit C. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its permitted registered assigns).

  • Promissory Note The Promissory Note is enclosed. The Chief Financial Officer is required to sign it and return it to the OPWC Loan Officer, Xxxxx XxXxxx. It is preferable that you scan and email it to her at Xxxxx.XxXxxx@xxx.xxxxx.xx.xx but may also mail it to the address on our letterhead. Only use one method.

  • Secured Promissory Notes The Term Loans shall be evidenced by a Secured Promissory Note or Notes in the form attached as Exhibit D hereto (each a “Secured Promissory Note”), and shall be repayable as set forth in this Agreement. Borrower irrevocably authorizes each Lender to make or cause to be made, on or about the Funding Date of any Term Loan or at the time of receipt of any payment of principal on such Lender’s Secured Promissory Note, an appropriate notation on such Lender’s Secured Promissory Note Record reflecting the making of such Term Loan or (as the case may be) the receipt of such payment. The outstanding amount of each Term Loan set forth on such Lender’s Secured Promissory Note Record shall be prima facie evidence of the principal amount thereof owing and unpaid to such Lender, but the failure to record, or any error in so recording, any such amount on such Lender’s Secured Promissory Note Record shall not limit or otherwise affect the obligations of Borrower under any Secured Promissory Note or any other Loan Document to make payments of principal of or interest on any Secured Promissory Note when due. Upon receipt of an affidavit of an officer of a Lender as to the loss, theft, destruction, or mutilation of its Secured Promissory Note, Borrower shall issue, in lieu thereof, a replacement Secured Promissory Note in the same principal amount thereof and of like tenor.

  • Term Note The Term Loan shall be evidenced by the Term Note. At the time of the disbursement of the Term Loan or a repayment made in whole or in part thereon, a notation thereof shall be made on the books and records of the Bank. All amounts recorded shall be, absent demonstrable error, conclusive and binding evidence of (i) the principal amount of the Term Loan advanced hereunder, (ii) any accrued and unpaid interest owing on the Term Loan and (iii) all amounts repaid on the Term Loan. The failure to record any such amount or any error in recording such amounts shall not, however, limit or otherwise affect the joint and several obligations of the Borrowers under the Term Note to repay the principal amount of the Term Loan, together with all interest accruing thereon.

  • Term Notes The Term Loan made by each Lender and interest accruing thereon shall be evidenced by the records of Agent and such Lender. At the request of any Lender, Borrowers shall deliver a Term Note to such Lender.

  • Prepayment of Debt Make any prepayment (whether optional or mandatory), repurchase, redemption, defeasance or any other payment in respect of any Subordinated Debt.

  • Repayment of Debt Upon the terms and subject to the conditions set forth herein, substantially concurrent with the execution and delivery of this Agreement by the parties hereto, the Company agrees to sell, and the Creditors, severally and not jointly, agree to cancel the Debt, up to an aggregate of $124,184.26 as the payment for the Shares at a price of $0.460829 per share. Each Creditor’s Debt Cancellation Amount as set forth on the signature page hereto executed by such Creditor shall be settled for “Delivery Versus Payment” with the Company. The Company shall deliver the Shares to the Creditors as the repayment of Debt within 30 days of this Agreement.

  • Evidence of Debt; Repayment of Loans (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the principal amount of each Loan of such Lender as provided in Section 2.11. (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. (c) The Administrative Agent shall maintain accounts in which it will record (i) the amount of each Loan made hereunder, the Type thereof and, if applicable, the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder from the Borrower or any Subsidiary Guarantor and each Lender’s share thereof. (d) The entries made in the accounts maintained pursuant to paragraphs (b) and (c) above shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided, however, that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligations of the Borrower to repay the Loans in accordance with their terms. (e) Any Lender may request that Loans made by it hereunder be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note payable to such Lender and its registered assigns and in a form and substance reasonably acceptable to the Administrative Agent and the Borrower. Notwithstanding any other provision of this Agreement, in the event any Lender shall request and receive such a promissory note, the interests represented by such note shall at all times (including after any assignment of all or part of such interests pursuant to Section 9.04) be represented by one or more promissory notes payable to the payee named therein or its registered assigns.

  • Credit Agreement; Loan Documents This Agreement or counterparts hereof shall have been duly executed by, and delivered to, Borrowers, each other Credit Party, Agent and Lenders; and Agent shall have received such documents, instruments, agreements and legal opinions as Agent shall reasonably request in connection with the transactions contemplated by this Agreement and the other Loan Documents, including all those listed in the Closing Checklist attached hereto as Annex D, each in form and substance reasonably satisfactory to Agent.

  • Loan Agreement This Agreement duly executed by Borrower and Lender.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!