Common Contracts
2 similar Promissory Note contracts by Buckeye Ventures, Inc.
PROMISSORY NOTE SECURED BY PLEDGE AGREEMENTPromissory Note • November 20th, 2006 • Buckeye Ventures, Inc. • Construction - special trade contractors • California
BUCKEYE VENTURES, INC., a Michigan corporation (the “Company”), for value received, hereby promises to pay Varin Larson and Deanna Larson (the “Holder”) the principal amount of Two Million Nine Hundred Twenty-Five Thousand Dollars ($2,925,000), together with accrued interest thereon at the rate of 5.00% per annum (computed on the basis of a 365-day year) from the date hereof. Interest shall be payable monthly in arrears on the first day of each month commencing on October 1, 2006; provided, however, that any interest accruing on the unconverted Convertible Portion (as defined below) shall not be required to be paid until the Maturity Date (as defined below) and may be paid in shares of Common Stock (as defined below) valued at their then fair market value as determined by the Company in good faith. The principal amount hereof and all accrued and unpaid interest shall be due and payable on September 30, 2008 or, if extended as provided in the Merger Agreement (as defined below) Septembe
PROMISSORY NOTE SECURED BY PLEDGE AGREEMENTPromissory Note • November 20th, 2006 • Buckeye Ventures, Inc. • Construction - special trade contractors • California
BUCKEYE VENTURES, INC., a Michigan corporation (the “Company”), for value received, hereby promises to pay Alan Hardwick (the “Holder”) the principal amount of Nine Hundred Seventy-Five Thousand Dollars ($975,000), together with accrued interest thereon at the rate of 5.00% per annum (computed on the basis of a 365-day year) from the date hereof. Interest shall be payable monthly in arrears on the first day of each month commencing on October 1, 2006; provided, however, that any interest accruing on the unconverted Convertible Portion (as defined below) shall not be required to be paid until the Maturity Date (as defined below) and may be paid in shares of Common Stock (as defined below) valued at their then fair market value as determined by the Company in good faith. The principal amount hereof and all accrued and unpaid interest shall be due and payable on September 30, 2008 or, if extended as provided in the Merger Agreement (as defined below) September 30, 2009 (the “Maturity Date
