Original Promissory Note definition
Examples of Original Promissory Note in a sentence
The effect of this Amended and Restated Promissory Note is to amend and restate the Original Promissory Note.
This Amended and Restated Promissory Note shall constitute a renewal, extension and modification of the terms of the Original Promissory Note and evidences the same indebtedness that existed under the Original Promissory Note.
All references to the Original Promissory Note in any agreement, instrument or document executed or delivered in connection herewith or therewith shall be deemed to refer to this Amended and Restated Promissory Note, as the same may be amended, restated, supplemented or otherwise modified from time to time.
To the extent that any rights, benefits or provisions in favor of Holder existed in the Original Promissory Note as of the date hereof, then such rights, benefits or provisions are acknowledged to be and to continue to be effective from and after the date of the Original Promissory Note.
The Maker and the Holder further agree and acknowledge that any and all amounts owing or otherwise due under or pursuant to the Original Promissory Note immediately prior to the effectiveness of this Amended and Restated Promissory Note shall be owing and otherwise due pursuant to this Amended and Restated Promissory Note.
The Maker and the Holder agree and acknowledge that any and all rights, remedies and payment provisions under the Original Promissory Note, as hereby amended and restated, shall continue and survive the execution and delivery of this Amended and Restated Promissory Note.
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").
This Note amends and restates in its entirety the Original Promissory Note.
Nightlife hereby (i) waives any Event of Default under the Pledge Agreement and any default under the Original Promissory Note, in each case, that may have existed prior to the date hereof and (ii) acknowledges and agrees that upon the delivery of the Cash Payment (as defined below), no Event of Default under the Pledge Agreement or default under the Original Promissory Note shall exist.
Prior to the date hereof, CMPI has advanced to OCG the principal sum of $75,000, including $50,000 evidenced by that certain Promissory Note of OCG, dated November 24, 2004 (the "Original Promissory Note").