Promissory Note Terms Sample Clauses

Promissory Note Terms. The Promissory Note will contain the following terms: (a) repayable by the Buyer over a period of seventeen (17) weeks following the Closing Date (the Maturity Date) and in two (2) equal installments of CAD$250,000 each provided that the Buyer will be entitled to prepay any amounts owing under the Promissory Note at any time in its sole discretion without notice, bonus or penalty. For greater certainty, the last instalment payment to be made by the Buyer to the Seller will include the amount of any and all outstanding accrued but unpaid interest on the Promissory Note; (b) the Promissory Note will bear interest in the manner more particularly set forth therein. The Buyer will pay the Seller the amount of such accrued interest on a monthly basis; and (c) the obligations of the Buyer set forth in the Promissory Note will be secured in the manner more particularly described in Section 3 of this Letter Agreement.
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Promissory Note Terms. Any promissory note issued by a Shareholder or the Corporation pursuant to Section 2 hereof is hereinafter referred to as a "Promissory Note" and the person making such Promissory Note is hereinafter referred to as the "
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Promissory Note Terms. Subject to the terms and conditions of this --------------------- Note, the Creditor hereby agrees to lend to Debtor and Debtor agrees to borrow from Creditor, $100,000 at the interest rate of Ten Percent (10%) per annum, interest and principle due on September 15, 2000. Upon default interest shall accrue after September 15, 2000 at the rate of Eighteen Percent (18%).
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Promissory Note Terms. Any promissory note issued by a Shareholder or the Corporation pursuant to Section 2 hereof is hereinafter referred to as a "Promissory Note" and the person making such Promissory Note is hereinafter referred to as the "Maker". Each Promissory Note shall be payable in: (i) 120 equal monthly installments (such installments being herein referred to as "Installments") of principal, plus (ii) interest in an amount sufficient to pay all interest at the prime rate as declared from time to time by Citibank, N.A. (the "Prime Rate") in effect when the Installment is due. Each Installment shall be applied first to the payment of interest and then to the reduction of principal. Any unpaid interest will be added to the outstanding principal balance of the Promissory Note and interest shall accrue thereon at the rate provided for in the Promissory Note. Such Promissory Note shall provide for the acceleration of payments thereunder upon a default in the payment of principal or interest thereon, the voluntary or involuntary bankruptcy of the Maker or a default under any other material indebtedness of the Maker. Each Promissory Note may be prepaid by, and at the election of, the Maker at any time without premium or penalty, but with interest through the date of such prepayment. The Promissory Note shall be secured by the Ownership Interest, the acquisition of which generated production of the Promissory Note.
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Promissory Note Terms. Principal: The principal amount shall be the amount calculated under Section 6.6(c)(ii)(B)(II).
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Promissory Note Terms. DSI shall pay the Promissory Note balance in quarterly payments that shall be equal to twenty five percent (25%) of the net profits it generates in its operation of the Purchased Assets until the earlier of the balance having been paid in full or 18 months from the closing of this Purchase and Sale Agreement. The first payment shall be due ninety days (90) after the Closing of this Purchase and Sale Agreement.
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Related to Promissory Note Terms

  • 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.

  • 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).

  • Note Purchase Agreement The conditions precedent to the obligations of the Applicable Pass Through Trustees and the other requirements relating to the Aircraft and the Equipment Notes set forth in the Note Purchase Agreement shall have been satisfied.

  • Amendment to Purchase Agreement Section 1.3 of the Purchase Agreement is hereby amended and restated in its entirety to read as follows:

  • Terms of the Purchase Agreement The terms of the Purchase Agreement, including, but not limited to, the representations, warranties, covenants, agreements and indemnities relating to the Assigned Contracts are incorporated herein by this reference. The parties hereto acknowledge and agree that the representations, warranties, covenants, agreements and indemnities contained in the Purchase Agreement shall not be superseded hereby but shall remain in full force and effect to the full extent provided therein. In the event of any conflict or inconsistency between the terms of the Purchase Agreement and the terms hereof, the terms of the Purchase Agreement shall govern.

  • Amended and Restated Agreement This Agreement amends and restates, in its entirety, and replaces, the Prior Loan Agreement. This Agreement is not intended to, and does not, novate the Prior Loan Agreement and Borrower reaffirms that the existing security interest created by the Prior Loan Agreement is and remains in full force and effect.

  • The Purchase Agreement This Agreement has been duly authorized, executed and delivered by the Company and the Guarantors.

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

  • Amendment to Loan Agreement Subject to satisfaction of the conditions precedent set forth in Section 4 below, the Loan Agreement is hereby amended as follows:

  • Loan Agreements Notwithstanding any term hereof (or any term of the UCC that might otherwise be construed to be applicable to a “securities intermediary” as defined in the UCC) to the contrary, none of the Collateral Agent, the Collateral Custodian nor any securities intermediary shall be under any duty or obligation in connection with the acquisition by the Borrower, or the grant by the Borrower to the Collateral Agent, of any Loan Asset in the nature of a loan or a participation in a loan to examine or evaluate the sufficiency of the documents or instruments delivered to it by or on behalf of the Borrower under the related Loan Agreements, or otherwise to examine the Loan Agreements, in order to determine or compel compliance with any applicable requirements of or restrictions on transfer (including without limitation any necessary consents). The Collateral Custodian shall hold any Instrument delivered to it evidencing any Loan Asset granted to the Collateral Agent hereunder as custodial agent for the Collateral Agent in accordance with the terms of this Agreement.

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