New Promissory Note definition
Examples of New Promissory Note in a sentence
In the event of termination of the Agreement and the abandonment of the Merger pursuant to this Article XII, all obligations of the parties shall terminate, except the obligations of the parties pursuant to this Section 12.2 and except for the provisions of Sections 8.2 and 8.4; provided, however, that OCG shall remain obligated to CMPI under the New Promissory Note in accordance with the terms thereof, and nothing herein shall relieve any party from liability for any breach of this Agreement.
Concurrently with the execution of this Agreement, OCG shall surrender to CMPI for cancellation the Original Promissory Note in exchange for a promissory note of OCG, in the form attached hereto as Exhibit B to this Agreement, which promissory note shall evidence all of the foregoing sums advanced by CMPI (the "New Promissory Note").
A copy of the Pledge and Security Agreement applicable to the New Promissory Note is attached hereto as Exhibit B (the “Security Agreement”).
Unless Borrower is in default of his --------------------------------- payment obligations under the New Promissory Note for a period of ten (10) days after written notice from the Corporation of such default, Borrower shall be entitled, except as otherwise provided in Section 3, to receive all cash distributions and cash dividends in respect of the Pledged Stock and to exercise all voting and other consensual rights pertaining to the Pledged Stock.
Principal and accrued interest is due on April 30, 2001, and subject to the terms and conditions set forth in the New Promissory Note.
Such party understands that no U.S. federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of the New Promissory Note or the fairness or suitability of an investment in such securities.
After deduction of all reasonable expenses incurred in realizing on this security interest, and after the payment of all principal, interest and late payment charges due under the New Promissory Note, the balance of the proceeds of sale, if any, may be applied to the payment of any or all other indebtedness which Debtor owes Secured Party, regardless of whether such indebtedness is due or not.
Assign or attempt to assign any of its rights or delegate any of its duties hereunder, under the Security Agreement or the Pledge Agreement or under the New Promissory Note.
Such party is acquiring the New Promissory Note in the ordinary course of its business and such party does not presently have any agreement or understanding, directly or indirectly, with any Person to distribute any such securities.
The New Promissory Note as well as the financial obligations under the Initial Loans and Airplane Leases shall all be secured pursuant to the terms of a Security Agreement And Encumbrance Against Air Carrier Aircraft Engines, Propellers, Appliances And Spare Parts in the form and content as attached hereto as Exhibit "D" ("Security Agreement").