Common Contracts
1 similar Seller Loan contracts
NOTESeller Loan • September 17th, 2021
FOR VALUE RECEIVED, WICHITA RAD SENIOR L.P., a Kansas limited partnership (Borrower), promises to pay to the CITY OF WICHITA, KANSAS (Lender), the sum of Seven Million Three Hundred Thousand and 00/100 Dollars ($7,300,000.00), payable at 455 N. Main Street, Wichita, Kansas 67202, with interest on any remaining balance of principal at the long- term Applicable Federal Rate, as published by the U.S. Internal Revenue Service (or successor thereof) pursuant to Section 1274(d) of the Internal Revenue Code, per annum, compounded annually, payable annually. Payments of principal and interest to the Lender pursuant to this Note shall be required to be made only from Net Cash Flow as defined in that certain Amended and Restated Agreement of Limited Partnership of the Borrower dated as of , 2021 (the “LP Agreement”), in the order and priority set forth in Section 9.1 of the LP Agreement. Any interest and principal not so paid shall not create any default in the terms of this note but shall accru
