Working Capital Note. The Working Capital Loans shall be evidenced by a promissory note (herein, as such note may be from time to time supplemented, extended or replaced, called the "Working Capital Note") substantially in the form set forth in EXHIBIT F, with appropriate insertions, dated the date hereof, payable to the order of Lender in the maximum principal amount of the Working Capital Commitment.
Working Capital Note. If the Adjusted Working Capital will be less than negative $1,750,000, the holders of Old Notes may, but need not, enter into a working capital line of credit with the Company in an amount not to exceed $1.0 million (the “Working Capital Note”). The Working Capital Note will be subordinated to the Company’s senior debt, will bear interest at five percent (5%) per annum (with interest accruing for the first year) and will be repaid in twelve equal monthly installments of principal and interest commencing on the first day of the thirteenth month after the Effective Time, provided that prior to the first payment of principal and interest a holder of all or a portion of the Working Capital Note may elect to convert the principal and interest due to such holder into common stock of Parent at a conversion price of $3.00 per share in lieu of repayment. The form of Working Capital Note and any credit agreement memorializing the obligation will be subject to the approval of Parent.
Working Capital Note. Working Capital Loans made by each -------------------- Lender shall be evidenced by the Company's promissory note in the form of Exhibit H (together with any promissory note subsequently executed and delivered by the Company to evidence such Lender's Working Capital Loans, the "Working Capital Note"), which shall be made payable to the order of such Lender in an amount equal to such Lender's Working Capital Commitment Amount and shall mature on the Working Capital Termination Date. The sum of the aggregate amount of all Working Capital Loans made and all participations in Unpaid Drawings purchased by any Lender minus all ----- repayments of principal thereof shall be the principal amount owing and unpaid on such Lender's Working Capital Note. The principal amount of each Working Capital Loan made by any Lender and each participation in an Unpaid Drawing purchased by such Lender, and all principal payments and prepayments thereof, may be noted by such Lender on a schedule attached to its Working Capital Note and shall be entered by such Lender on its ledgers and computer records. The failure of any Lender to make such notations or entries shall not affect the obligations of the Company under such Lender's Working Capital Note in respect of such Working Capital Loans and participations in Unpaid Drawings. The entries made by any Lender on its ledgers and computer records and any notations made by First Bank on any such schedule annexed to its Working Capital Note shall be presumed to be accurate until the contrary is established.
Working Capital Note. 22 1.2 Accounting and Financial Determinations.............................................. 22 1.3 Cross References; Headings........................................................... 23
Working Capital Note. Subject to the approval of the Gaming Authorities, Landlord shall make a working capital loan to Tenant as a revolving line of credit during the Term, in the amount of up to One Million Five Hundred Thousand Dollars and 00/100 ($1,500,000) to be drawn upon by Tenant for its working capital needs, evidenced by a promissory note (“Working Capital Note”) in substantially the form attached hereto as Exhibit “H” which shall accrue interest monthly at a rate of ten percent (10%) per annum. Upon expiration or earlier termination of this Lease, the Working Capital shall be transferred to Landlord or its designee in full satisfaction of any balance owing on the Working Capital Note, including Default Interest.
Working Capital Note. (a) The parties hereto acknowledge and agree -------------------- that (i) immediately prior to the issuance of the Series V Stock pursuant to the Securities Purchase Agreement, the outstanding principal balance of the Working Capital Note is $2,500,000.00, and (ii) effective as of the date hereof, $2,500,000 of the indebtedness evidenced by the Working Capital Note is hereby cancelled and discharged.
(b) Borrower and Lender agree that the collateral pledged under the Working Capital Note and subject to the Security Agreement will not be used as collateral for any new debt until such time that all accrued dividends on all classes of Borrower's preferred stock have been paid in full.
(c) The Lender shall xxxx the Working Capital Note and the Security Agreement "cancelled" and return the Working Capital Note and the Security Agreement to Borrower.
Working Capital Note. The Working Capital Note, duly completed, executed and delivered.
Working Capital Note. The Borrower shall have executed and delivered a Working Capital Note to Citizens, dated the Effective Date and in a principal amount of $10,000,000.
Working Capital Note. At or before Closing, the Purchaser shall lend to the Company the monies to be advanced under Section 3.2(b) above. Such loan to be evidenced by a promissory note executed by the Company in substantially the form attached hereto as Exhibit "E' ("Working Capital Note").
Working Capital Note. At or before Closing, the Purchaser shall lend to the Company the monies evidenced by the Working Capital Note.
