Examples of Term Promissory Note in a sentence
In the event the Library raises monies in excess of its Fundraising Goal, all excess monies raised first shall be applied to the Library Project or repayment of the Term Promissory Note dated March 25, 2014, given by the Library to the Town.
Funds not used for completion of the Library Project or repayment of the Term Promissory Note will be added to the endowment of the Library.
The 2002 New Term Loan shall be repaid as provided in the Term Promissory Note of even date evidencing the 2002 New Term Loan and in this Agreement.
The Term Promissory Note shall mature on the date stated therein and shall bear interest on the unpaid principal amount thereof from time to time outstanding at the applicable interest rate per annum as provided in the Term Promissory Note.
B) Secured Term Promissory Note (i) Definitions — The following definitions shall be added to the Notes, and to the extent these terms are already defined in the Loan Documents, they shall be deleted in their entirety and replaced with the following: “Final Payment” means 11.25% of the Advance.