Common use of Bridge Loans Clause in Contracts

Bridge Loans. The Company shall extent an interest-free loan to the Executive of up to $100,000 (the "Bridge Loan") on (i) at least 10 business days prior written notice from the Executive and (ii) execution by the Executive of a mutually acceptable unsecured promissory note evidencing the Bridge Loan. The entire amount of the Bridge Loan shall mature and become due and payable upon the earlier of (i) June 9, 1999 or (ii) termination of the Executive's Employment hereunder for any reason. At the option of the Executive or the Company, the Bridge Loan may be repaid in accordance with the terms hereof out of, or offset against, any bonus or other amount payable to the Executive hereunder.. .

Bridge Loans. The Company shall extent an interest-free loan to the Executive of up to $100,000 (the "Bridge Loan") on (i) at least 10 business days prior written notice from the Executive and (ii) execution by the Executive of a mutually acceptable unsecured promissory note evidencing the Bridge Loan. The entire amount of the Bridge Loan shall mature and become due and payable upon the earlier of (i) June 9, 1999 or (ii) termination of the Executive's Employment hereunder for any reason. At the option of the Executive or the Company, the Bridge Loan may be repaid in accordance with the terms hereof out of, or offset against, any bonus or other amount payable to the Executive hereunder.. .