Repayment of the Obligations is secured by the Collateral described in the Loan Agreement and in an Intellectual Property Security Agreement. The Loan Agreement, such Intellectual Property Security Agreement and all other documents evidencing or securing the Obligations are called the "Existing Loan Documents" herein. The parties hereto hereby agree as follows:
Repayment of the Obligations. From and after the execution of this Agreement, interest shall accrue upon, and the Borrower shall repay, the Obligations as follows:
Repayment of the Obligations. The Borrower shall repay in full the aggregate outstanding Obligations on the Termination Date.
Repayment of the Obligations i. The Borrower shall continue to make all payments of principal, accrued and unpaid interest, fees, and other amounts owed under the Loan Documents as and when due; and
ii. All Obligations shall have been indefeasibly paid in full on or before the earlier of (i) the occurrence of a Termination Event, or (ii) 5:00 P.M. (prevailing Eastern time) on the Forbearance Termination Date, it being expressly acknowledged and agreed that TIME IS OF THE ESSENCE.
Repayment of the Obligations of the Borrower shall be secured by a guaranty by Xxxxxxx X. Xxxxxx (the "Guarantor"), pursuant to a guaranty agreement, in form satisfactory to the Lender; provided, however, such guaranty shall be limited to one-third of the total amount outstanding under the Loan.
Repayment of the Obligations. The payment schedule set forth in the Forbearance Agreement is hereby superseded and replaced by the provisions of this Section 7. From and after the execution of this Agreement, the Borrower shall make monthly payments, which payments shall (unless otherwise indicated below) be applied first to accrued but unpaid interest and then to the principal balance of the Obligations, in the amount of $100,000 per month on or before the 15th day of each month (or the next Business Day thereafter) (each, a “Payment Date”), commencing in April 2013 and continuing on each successive month thereafter, of $100,000, less the amount, if any, of any Conversion Amount credited by Lender, as Holder of the Consolidated Debenture, since the last preceding Payment Date in accordance with the terms of the Consolidated Debenture to reduction of the Principal, Prior Interest, and/or accrued, but unpaid interest under the Consolidated Debenture. Any Conversion Amount credited by Lender during any month preceding a Payment Date in excess of $100,000 shall be applied to the next succeeding monthly payment(s). Notwithstanding anything to the contrary set forth herein, upon transfer or assignment of any portion of the Consolidated Debenture by the Lender to a third party who is unaffiliated with the Lender, Borrower shall continue to make the payments due under the Consolidated Debenture to Lender, which shall be solely responsible for payments to such transferee or assignee.
Repayment of the Obligations. All of the Obligations shall be payable by Borrower to Lender upon the earliest of (a) the receipt by Lender or Borrower of any collections or proceeds of any of the Collateral, to the extent of such collections or proceeds, (ii) the occurrence of an Event of Default in consequence of which Lender elects to accelerate the maturity and payment of the Obligations or (iii) termination of the Loan Agreement pursuant to Section 3.1 or Section 3.2; provided, however, that any portion of the Obligations payable -------- ------- on demand under any of the Loan Documents shall be paid on demand. All Notes shall be due and payable upon termination of the Loan Agreement.
Repayment of the Obligations. All of the Obligations shall be payable by Borrower to Finova upon the earliest of (a) the receipt by Finova or Borrower of any collections or proceeds of any of the Collateral, to the extent of such collections or proceeds, (b) the occurrence of an Event of Default in consequence of which Finova elects to accelerate the maturity and payment of the Obligations or (c) termination of the Loan Agreement pursuant to Section 3.1 or Section 3.2; provided, however, that any portion of the Obligations payable on demand under any of the Loan Documents shall be paid on demand.
Repayment of the Obligations. From and after the execution of this Seventh Amendment the Obligations shall be paid, as follows:
a. The Borrower shall continue to make all payments of interest and other amounts as and when due under the terms and conditions of the Notes; and
b. In addition, the Borrower shall make one or more principal payments on the Term Note such that the outstanding principal balance thereof on June 17, 2010 shall be not more than Five Million and 00/100 Dollars ($5,000,000.00).
Repayment of the Obligations. All of the Obligations shall be payable by Borrowers to Fremont upon the earliest of (a) the receipt by Fremont or a Borrower of any collections or proceeds of any of the Collateral, to the extent of such collections or proceeds, (b) the occurrence of an Event of Default in consequence of which Fremont elects to accelerate the maturity and payment of the Obligations or (c) termination of the Loan Agreement pursuant to Section 3.1 or Section 3.2; provided, however, that any portion of the Obligations payable on demand under any of the Loan Documents shall be paid on demand. Any outstanding Term Loans shall be due and payable upon termination of the Loan Agreement.
