Note Payable definition

Note Payable is defined in the recitals.

Note Payable that certain Note payable to Xxxxxx X. Xxxxxxxx by Com-Net ------------ in an amount equal to $1,144,505.

Note Payable. The undersigned will pay principal and interest by making payments in the initial amount of $10,572.06 on the first day of each month beginning on March 1, 1998. The undersigned will make these payments until they have paid in full all principal and interest and any other sums due hereunder. Notwithstanding the foregoing, the entire indebtedness evidenced by this Note, including, but not limited to, all outstanding principal and accrued and unpaid interest, shall be due and payable in full on the tenth (10) anniversary date of this Note. The undersigned's initial monthly payments shall be calculated in accordance with the full amortization of the loan evidenced by this Note by level monthly payments of principal and interest over a ten (10) year period at the interest rate applicable on the date hereof. On each Adjustment Date (as herein defined), the amount of the monthly payments will be adjusted so as to provide for the full amortization of the then outstanding principal at the interest rate established at each Adjustment Date in level monthly payments of principal and interest over the remaining term of the original ten (10) year amortization period.

Examples of Note Payable in a sentence

• This Note Payable to Affiliate carries a simple interest rate of 5.0% per annum and matures on December 31, 2029.

• Note Payable to Affiliate On December 18, 2009, AGC issued a surplus note with a principal amount of $300 million to AGM.

• This Note Payable to Affiliate carries a simple interest rate of 3.5% per annum and matures on December 31, 2029.

• The fair value of the Convertible Note Payable is based on Level 3 inputs including the applicable face value of the Note.

• The Company has granted the factoring firm a security interest in, and a blanket lien upon the Company’s assets.C – Note Payable to Distribution Partner – Represents the outstanding principal balance plus 5% annual interest due on a 2007 promissory note with 5% annual interest, between the Company and a significant European distribution partner.

More Definitions of Note Payable

Note Payable has the meaning ascribed to it in Clause 8.1(A).

Note Payable means the promissory note issued in connection with acquisition of MedEval Corp., principal amount of US $2,500,000, which Note Payable was repaid in full in December 2018;

Note Payable shall have the meaning set forth in Section 2.04(a)(iii).

Note Payable shall have the meaning assigned thereto in Section 3.2(a) hereof;

Note Payable means a legally enforceable promise by the Purchaser to the Seller to pay a certain amount of money in United States currency.

Note Payable has the meaning ascribed to it in Clause ‎3.1(A).

Note Payable. In conjunction with the signing of the license agreement outlined in 9. below, OMRF shall convert $425,000 of its outstanding indebtedness to a 7.25 year IP note payable. The note shall be secured by the IP. The note shall be interest free for the first 24 months, interest only (payable quarterly) for months 25 through 36 at the rate of 8% per annum and, beginning in the 37th month, all interest (at the rate of 8% per annum) and principal shall be paid quarterly with principal amortized on a straight- line basis of $25,000 per quarter for 17 quarters. OMRF shall receive warrants totalling 22,667 shares at $0.80 per share in compensation for the two years deferred interest.