Repayment of Promissory Notes. As a result of the Merger and the transactions contemplated thereby, the promissory notes issued to the Company by each of Xxxx Xxxxxxxx in the amount of $364,500 (the "Xxxxxxxx Note"), Xxxxxxx X. Xxxxxxx, Xx. in the amount of $121,500 (the "Xxxxxxx Note") and Xxxxxx X. Xxxxx in the amount of $121,500 (the "Xxxxx Note") each become immediately due and payable.
Repayment of Promissory Notes. Simultaneously with the Initial Closing, the aggregate principal amount and all accrued interest on the promissory notes listed on Schedule 3.19 and all other amounts due thereunder shall be paid in full, and satisfactory evidence thereof shall have been delivered to the Purchaser.
Repayment of Promissory Notes. The Company shall have paid in full the unpaid principal of, together with all accrued and unpaid interest on and any fees and expenses relating to, (i) that certain Promissory Note, dated August 7, 1997, made by the Company and given to PR Venture Partners, L.P. in the original principal amount of $25,000 and (ii) that certain Promissory Note, dated August 7, 1997, made by the Company and given to Morgxx, Xxllxxx Xxxd II, L.P. in the original principal amount of $25,000 (collectively, the "Notes"). At the Closing, Brooxx xxxll have received the original Notes duly cancelled by the holder thereof.
Repayment of Promissory Notes. Each of Xxxxxxxx X. Xxxxxxx and Xxxxxx X. Xxxxxxxx shall have repaid in full, their respective notes payable to Leslie’s dated March 23, 2001.
Repayment of Promissory Notes. Xxxxx Xxxxxxx shall have repaid all outstanding principle and interest due on the promissory notes issued by him to the Company in the principle amount of $25,000 and $25,000, respectively, and the Principal Stockholder shall have repaid all outstanding principle and interest due on the promissory note issued by her to the Company in the principle amount of $70,000. Parent may waive any condition (in whole or in part) specified in this Section 9.1 if it executes a writing so stating at or prior to the Closing.
Repayment of Promissory Notes. The remaining debt owed to DSI by XxXxxx in the amount of Thirty-one Thousand Nine Hundred Ninety-eight Dollars and Thirty-nine Cents ($31,998.39) relative to that certain promissory note dated May 12, 1995 by XxXxxx, maker, and DSI, payee, and the remaining debt owed to DSI by XxXxxx in the amount of Seventy-eight Thousand Eight Hundred Forty-one Dollars and Sixty-seven Cents ($78,841.67) relative to that certain promissory note dated January 17, 1995 by XxXxxx, maker, and DSI, payee, shall be deducted from the severance payment provided in paragraph 1 and applied in satisfaction of said promissory notes.
Repayment of Promissory Notes. Buyer will pay and discharge within 45 days 27 32 following the Closing the following promissory notes: Promissory Notes, each dated April 1, 1996, payable to the order of Stevx Xxxling in the original principal amounts of $250,000 and $139,778.
Repayment of Promissory Notes. Within thirty (30) days of the Effective Date of this Agreement, Employee agrees to fully repay all principal and interest on the Promissory Notes executed by Employee in favor of the Company.
Repayment of Promissory Notes. Prior to the Closing, FNF shall repay the outstanding principal and interest owing under the intercompany promissory notes referred to in item 10 of Section 4.1(c) of the Disclosure Schedule.
Repayment of Promissory Notes. As of the date hereof, the balance outstanding under the Existing Notes as of October 8, 2024, is as shown below: Principal Balance $ 2,000,000.00 $ 590,358.55 $ 369,863.22 $ 2,960,221.76 Interest: $ 74,794.52 $ 970.45 $ 1,347.72 $ 77,112.69
(a) Beginning with the month of October, 2024 and continuing for each successive calendar month until the entire outstanding Principal of all Promissory Notes shall have been repaid (each such month, a “Calendar Month”), the Company shall make periodic repayments towards the Promissory Notes such that the aggregate balance remaining of the Promissory Notes is reduced by at least $750,000 in each Calendar Month. Each such periodic repayment shall also include an aggregate of all accrued and unpaid interest outstanding on each of the Promissory Notes being paid, plus, solely in the case of a cash payment in accordance with (i) of this Section 4.1(a), a payment premium equal to 5% (the “Payment Premium”) in respect of the principal amount of such repayment (collectively, the “Repayment Amount”), provided that, the Payment Premium shall not apply in respect to any principal amount that is paid directly from an Advance from the PPA. With respect to the payment of any Repayment Amount by the Company hereunder, the Company shall, at its own option, pay each Repayment Amount either (i) in cash, or (ii) by submitting an Advance Notice (an “Advance Repayment”), or any combination of (i) or (ii) as determined by the Company. In respect of any Repayment Amount, or portion thereof, to be repaid by the Company in cash, the Company shall pay to the Investor such Repayment Amount by wire transfer of immediately available funds in cash. If the Company elects an Advance Repayment in accordance with (ii) of this Section, for all or a portion of a Repayment Amount, then the Company shall deliver an Advance Notice to the Holder in accordance with the terms and conditions of the PPA, and upon the closing of such Advance Notice, the Holder shall offset the amount due to be paid by the Holder to the Company under the PPA against an equal amount of the Repayment Amount to be paid by the Advance Repayment. The principal amount of any conversions made by the Investor in a Calendar Month shall apply towards the $750,000 of principal amount to be reduced in each Calendar Month. The Investor shall, in its sole discretion, apply any payments made in accordance with this Section 4.1(a) to any of the Promissory Notes that are then outstanding in the m...
