Repayment of Promissory Note. Maker shall pay to the order of Holder the Loan Amount, with interest accruing at the current Local Agency Investment Fund (LAIF) interest rate of .28 percent per annum, as follows:
3.1 Maker promises to pay to the order of Holder the Loan Amount, with interest, within ten years from the date of this Promissory Note. The first installment shall be paid during the period of January 2014-June 2014, if sufficient tax allocation funds are available. Subsequent installments will be paid over multiple ROPS cycles of Maker, as sufficient funds are available, with the unpaid balance of the Loan Amount to be paid no later than July 15, 2023 (“Maturity Date”). It is the express intent of Maker and Holder that the Loan Amount be paid by Maker to Holder as soon as reasonably and fiscally practical within the ten year repayment period, as tax allocation funds are made available to Maker.
3.2 All payments due hereunder are payable in lawful money of the United States in same day funds. The Loan Amount may be prepaid, in whole or in part, at any time and from time to time without penalty or premium.
3.3 The entire unpaid balance of the Loan Amount shall be due and payable, prior to the Maturity Date, upon Maker’s material breach of any of the obligations of this Promissory Note or the Agreement.
Repayment of Promissory Note. 2.1 Holder promises to advance to the Maker, pursuant to Section 2.2 of this Promissory Note, the not-to-exceed Loan Amount of two million three hundred ten thousand dollars ($2,310,000) sometime on or before September 1, 2020, (the “Maturity Date”). Maker shall start to accrue interest on the Loan Amount, or any portion thereof, on September 2, 2020. The interest paid to the Holder will be calculated at 2.25% per annum.
2.2 Holder shall Advance to the Maker, seven hundred and seventy thousand dollars ($770,000) (the “Advance”) on or before each of the following dates: 1) February 29, 2020; 2) May 31, 2020; and 3) July 31, 2020, provided Maker has made a full repayment of all previous Advances pursuant to Section 2.3.
2.3 Maker shall repay Holder, seven hundred and seventy thousand dollars ($770,000) on or before each of the following dates: 1) April 30, 2020; 2) July 29, 2020; and 3) September 1, 2020. No Advance shall be made until the COG has made a full repayment of all previous Advances. A full and complete repayment of two million three hundred and ten thousand dollars ($2,310,000) to be made by the Maker to the Holder in full on or before September 1, 2020. Any payment(s) made thereafter shall be considered late (“Late Payment)
2.4 All payments due hereunder are payable in lawful money of the United States in same day funds. The Loan Amount may be prepaid, in whole or in part, at any time on or before September 1, 2020, and from time to time without penalty or premium.
2.5 The entire unpaid balance of the Loan Amount shall be due and payable, on or before the Maturity Date, or upon Maker’s material breach of any of the obligations of this Promissory Note.
2.6 Should any payment of interest or principal and interest due herein be received by the Holder of this Promissory Note after September 1, 2020, the Maker shall pay a Late Payment penalty equal to five percent (5%) per annum, or the legal maximum, on any amount overdue and outstanding until paid, beginning with the date of the Late Payment.
2.7 All costs, expenses and expenditures including, and without limitation, the complete legal costs incurred by the Holder in enforcing this Note as a result of any default by the Maker, and such expense will be added to the Loan Amount then outstanding and will immediately be due and payable by the Maker to the Holder.
Repayment of Promissory Note. On the Effective Date, Purchaser shall pay to PSD an amount equal to the then existing principal balance due under the Note plus a sum equal to all accrued but unpaid interest due as of the date of such principal payment. Such payments will be made in accordance with Section 3 of this Agreement.
Repayment of Promissory Note. Subject to the terms and conditions of this Agreement, UIH will, at the Closing, repay to VTR all sums owing under the Promissory Note, including any accrued but unpaid interest thereon through the Closing Date.
Repayment of Promissory Note. UIH shall repay the Promissory Note, according to its terms (including any interest accrued but unpaid thereon through the Closing Date) by wire transfer of immediately available funds to an account designated by VTR. VTR shall send written notice to UIH designating such account not later than three Business Days prior to the Closing Date.
Repayment of Promissory Note. Pursuant to the terms of a promissory note entered into between you and the Company dated June 20, 2002 (and as amended thereafter in March 2003) (the “Note”) you agree to repay the outstanding principle and accrued interest pursuant to the terms of the Note.
Repayment of Promissory Note. From the proceeds of the Closing, the principal of and interest on the $100,000 loan made by Xxxxxxx Xxxxx, Xxxxxxx Xxxxx, Xxxxxx Xxxxxxx and Xxxxxxx Xxxxx to the Company shall be repaid in its entirety; PROVIDED, HOWEVER, that the Company may repay principal and interest on such loan after October 31, 1997 if Warburg shall have been paid all amounts required pursuant to the third sentence of Section 1.7 as of such date.
Repayment of Promissory Note. Tondera shall be obligated to pay the Company the total amount that Xxxxxxx owes to the Company under his Promissory Note, dated April 2,000 0, as amended on July 17,2002 (the "Note"). During the Consultation Period and following his execution of the release agreement contemplated by Section 3.3, Tondera shall make payments on the Note by making installment paymenxx xx xhe Company in the amount of Nine Thousand One Hundred Sixty Six and 66/100 Dollars ($9,166.66) each immediately upon his receipt of each payment he receives from the Company under Sections 3.2 and 3.3 of this Agreement until the Note has been paid in full. In the event that Tondera has not paid the Note in full after making the payments requxxxx xx this Section 4, Tondera shall be obligated to pay any remaining amount owed under thx Xxxx in accordance with the terms of the Note. A true and correct copy of the Note is incorporated herein and attached hereto as Exhibit A to this Agreement.
Repayment of Promissory Note. Section 6.20 is hereby added to the Agreement under Article VI, Negative Covenants:
Repayment of Promissory Note. On the Closing Date, subject to the closing of Buyer’s Small Business Administration loan that will provide Buyer with proceeds sufficient to pay off the Promissory Note (the “SBA Loan”), Buyer shall repay the total outstanding balance of the Promissory Note in the amount of One Million Seven Hundred Thousand Dollars ($1,700,000.00) by wire transfer of immediately available funds to an account specified in writing by Seller against delivery by Seller of the original Promissory Note, marked “Paid in Full.”
