First Promissory Note means that certain Promissory Note, dated as of the date of Closing, issued by the Buyer in favor of the Sellers in the principal amount of One Million Dollars ($1,000,000), as adjusted pursuant to Section 2(e)(ii), having a three (3) year term and bearing interest at the rate of eight percent (8%) per annum compounded quarterly, in substantially the form attached hereto as Exhibit B-1.

First Promissory Note has the meaning ascribed to such term in the Merger Agreement.

First Promissory Note shall have the meaning assigned to such term --------------------- in Section 2.

Examples of First Promissory Note in a sentence

The First Promissory Note bears an annual interest rate of 7.5% with a maturity date of December 4, 2016.
During the year ended December 31, 2015, Banco Occidente approved a six month grace period on principal payments from November 2015 to April 2016, and extended the maturity date of the First Promissory Note to October 2, 2018.
During the year ended December 31, 2015, Banco Occidente approved a twelve month grace period on principal payments from November 2015 to April 2016, and extended the maturity date of the First Promissory Note to October 2, 2018.
Notwithstanding the foregoing, if the First Promissory Note is no longer outstanding, the Put Price will be the higher of the Book Value or Fair Market Value of the affected Aircraft.
If Part B of the Livestock Supply Form is not completed and signed, or if the Producer fails or refuses to sign the Second Promissory Note, the First Promissory Note shall immediately become due and payable in full.

More Definitions of First Promissory Note

First Promissory Note has the meaning set out in Section 2.3(b);

First Promissory Note means the Promissory Note to be issued by Airco in favor of DHL Holdings (USA), Inc. in connection with the Separation in the form of Exhibit F1 to this Agreement.

First Promissory Note means the promissory note in the amount of $1,000,000 in the form attached hereto as Exhibit B to be granted by Acquiror at the Closing in favor of the Target Shareholders, which note shall be payable in any combination of cash or Note Stock (at the option of the Shareholder's Agent).

First Promissory Note means that certain Promissory Note, dated as of the date of Closing, issued by the Buyer in favor of the Sellers in the principal amount of One Million Dollars ($1,000,000), as adjusted pursuant to Section 2(e)(ii) , having a three (3) year term and bearing interest at the rate of eight percent (8%) per annum compounded quarterly, in substantially the form attached hereto as Exhibit B-1 .

First Promissory Note shall have the meaning attributed thereto in the Offering Memorandum;

First Promissory Note means the unsecured demand promissory note of the Company issued to an arm’s-length party, in the principal amount of $30,000, bearing interest at a rate of 10% per annum on the unpaid portion of the principal, calculated and compounded on a monthly basis;

First Promissory Note means the promissory note in the principal amount of $500 per Unit bearing interest at the rate equal to 6.5% per annum payable on March 31, 1999, in the form set out in Schedule "B" to the Offering Memorandum.