Existing Promissory Note definition
Examples of Existing Promissory Note in a sentence
Each Purchaser solely owns all right, title and interest in and to its respective Existing Promissory Note(s) and has not conveyed any interest or other right in any such Existing Promissory Note to any other Person or otherwise subjected, or allowed to be subjected, such Existing Promissory Note to any lien or other encumbrance.
The Company and CoBank now desire to amend and restate the Existing Promissory Note and Supplement.
All loans and other amount due and owing under, or arising out of, the Existing Promissory Note shall be deemed to be due and owing hereunder and shall be subject to the terms and conditions of, and be evidenced by, this Note.
The Existing Promissory Note, as modified by this Amendment, constitutes the entire understanding of the parties and supersedes all prior agreements, understandings, arrangements, promises and commitments, whether written or oral, express or implied, relating to the subject matter hereof, and all such prior agreements, understandings, arrangements, promises and commitments are hereby canceled and terminated.
The execution of this Promissory Note and Supplement shall not constitute a novation of the indebtedness outstanding under the Existing Promissory Note and Supplement.
For all purposes, including without limitation all income tax purposes, each Promissory Note Seller and Phoenix agree to treat such reduction of the Purchase Price by the amount of such accrued interest in the same manner as if such reduction had not been made and the Promissory Note Seller had made a payment of the accrued interest to Phoenix simultaneously with his or her receipt of an amount equal to the applicable Purchase Price less the principal amount of the applicable Existing Promissory Note.
The Borrowers hereby acknowledge and agree that simultaneously with the Borrowers’ execution and delivery of this Note to the Lender, the Lender has delivered to the Borrowers the Existing Promissory Note.
This Note amends and restates in its entirety the promissory note made by the Borrowers in favor of the Lender pursuant to the Existing Loan Agreement in a maximum principal amount of $1,300,000,000 (the “Existing Promissory Note”) and this Note is given by the Borrowers as a continuation, rearrangement and extension, and not a novation, release or satisfaction of the Existing Promissory Note.
The Company issued Company stock to ▇▇▇▇▇▇▇▇▇ (the "Original Stock") pursuant to a purchase agreement dated as of February 28, 2000, and the Company is also the holder of a promissory note payable by ▇▇▇▇▇▇▇▇▇ (the "Existing Promissory Note") in a principal amount equal to three million dollars ($3,000,000.
The issuance and delivery of this Amended and Restated Promissory Note is in substitution for the Existing Promissory Note.