CONTINGENT PROMISSORY NOTE Sample Clauses

CONTINGENT PROMISSORY NOTE. For value received, the undersigned promises to pay to the order of as agent of UNIVERSAL FIRE & CASUALTY INSURANCE COMPANY, (hereinafter “SURETY”), on demand the principle sum of dollars, if and only if the following stated contingency occurs: Upon the forfeiture, estreature, or breach of the following surety bond(s) UFC FL posted on behalf of (hereinafter “DEFENDANT”) in the Circuit/County Court of County, Florida, together with a any continuations and modifications, any extensions, substitutions, increments, or appeals thereof (hereinafter “BOND”); or upon payment of any expenses incurred by the SURETY to produce the DEFENDANT before the appropriate court(s) of competent jurisdiction in the above cause, with interest thereon at the rate of Eighteen Percent, per annum, from the occurrence of the above stated contingency, until fully paid. All makers or endorsers of this NOTE further agree to waive demand, notice of non-payment and protest; and in case suit shall be brought for the collection hereof, or the same has to be collected upon demand of an attorney, the foregoing agrees to pay reasonable attorney’s fees and all other costs for making such collection. Deferred interest payments to bear interest from maturity at Eighteen percent per annum, payable semi-annually. It is further agreed and specifically understood that this Note shall become null and void at such time as all the obligations under the BOND(S) posted on behalf of DEFENDANT have been fulfilled and the SURETY has been discharged of all liability and duly exonerated thereunder in writing and until such time as same occurs, the note shall remain in full force and effect.
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CONTINGENT PROMISSORY NOTE. Xxxxxx - AEP Assets, LLC - Xxxxx Energy/February 25, 2015
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CONTINGENT PROMISSORY NOTE. Xxxxxx - AEP Assets, LLC - Xxxxx Energy/February 25, 2015 Assignment of Interest. AEP assigns any and all of its right, title, and interest in and to any refunds of wellbore funding (or any other funds) that AEP has a right to receive if a Contingency Event occurs to Xxxxxx to the full extent of all principal, accrued interest, and any and all other fees and expenses that are due to Xxxxxx pursuant to this Note. Any amount of refunded wellbore or other funding that AEP has a right to receive that is in excess of the aggregate amount due to Xxxxxx pursuant to this Note belong to AEP. Annual Interest Rate on Matured, Unpaid Amounts (Default Rate): Eighteen Percent (18%) per Texas Finance Code Chapters 306 and 303 Promise to Pay. AEP promises to pay to the order of Xxxxxx X. Xxxxxx at the place for payment and according to the terms of payment the principal amount plus interest at the rates stated above. Any amounts under this Note remaining unpaid as of the due date shall be due and payable no later than the Maturity Date.
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CONTINGENT PROMISSORY NOTE. Upon execution of this Agreement, the company shall execute the Promissory Note attached as Exhibit A. The Parties agree that this Promissory Note is contingent as a guarantee for the company's obligation to pursuant to Subparagraph 1.A. subsections 1 though 5. If the Company fails to register shares as required under this agreement or the Company otherwise fails to transfer the stock to the P.A. as set forth above, the attached Promissory Note shall have full force and effect. However, if the stock is registered and transferred pursuant to Subsection 1.A.2. above, the promissory note shall only take effect if the Company fails to guarantee the price of the stock or if the P.A. is unable to sell the shares on the open market and the Company otherwise is unable to pay for the stock at the Guaranteed price.
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CONTINGENT PROMISSORY NOTE. Xxxxxx - Victory Energy Corporation - Xxxxx Energy/March 3, 2015
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CONTINGENT PROMISSORY NOTE. Xxxxxx - Victory Energy Corporation - Xxxxx Energy/March 3, 2015 Annual Interest Rate on Matured, Unpaid Amounts (Default Rate): Eighteen Percent (18%) per Texas Finance Code Chapters 306 and 303 Promise to Pay. Victory promises to pay to the order of Xxxxxx X. Xxxxxx at the place for payment and according to the terms of payment the principal amount plus interest at the rates stated above. Any amounts under this Note remaining unpaid as of the due date shall be due and payable no later than the Maturity Date.
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Related to CONTINGENT PROMISSORY NOTE

  • Litigation and Contingent Obligations There is no litigation, arbitration, governmental investigation, proceeding or inquiry pending or, to the knowledge of any of their officers, threatened against or affecting the Borrower or any of its Subsidiaries which could reasonably be expected to have a Material Adverse Effect or which seeks to prevent, enjoin or delay the making of any Loans. Other than any liability incident to any litigation, arbitration or proceeding which could not reasonably be expected to have a Material Adverse Effect, the Borrower has no material contingent obligations not provided for or disclosed in the financial statements referred to in Section 5.4.

  • CONTINGENT FEE AGREEMENT A. The Attorneys shall advance all expenses in the Litigation. The Client is not liable to pay any of the expenses of the Litigation, whether attorneys' fees or costs. Recovery of costs and other expenses is contingent upon a recovery being obtained. If no recovery is obtained, Client will owe nothing for costs and other expenses. In the event that an order is entered awarding costs and expenses in favor of defendants, Attorneys will be responsible for such costs and expenses, not the Client.

  • Contingent Obligation any obligation of a Person arising from a guaranty, indemnity or other assurance of payment or performance of any Debt, lease, dividend or other obligation (“primary obligations”) of another obligor (“primary obligor”) in any manner, whether directly or indirectly, including any obligation of such Person under any (a) guaranty, endorsement, co-making or sale with recourse of an obligation of a primary obligor; (b) obligation to make take-or-pay or similar payments regardless of nonperformance by any other party to an agreement; and (c) arrangement (i) to purchase any primary obligation or security therefor, (ii) to supply funds for the purchase or payment of any primary obligation, (iii) to maintain or assure working capital, equity capital, net worth or solvency of the primary obligor, (iv) to purchase Property or services for the purpose of assuring the ability of the primary obligor to perform a primary obligation, or (v) otherwise to assure or hold harmless the holder of any primary obligation against loss in respect thereof. The amount of any Contingent Obligation shall be deemed to be the stated or determinable amount of the primary obligation (or, if less, the maximum amount for which such Person may be liable under the instrument evidencing the Contingent Obligation) or, if not stated or determinable, the maximum reasonably anticipated liability with respect thereto.

  • Guaranty Obligations Unless otherwise specified, the amount of any Guaranty Obligation shall be the lesser of the principal amount of the obligations guaranteed and still outstanding and the maximum amount for which the guaranteeing Person may be liable pursuant to the terms of the instrument embodying such Guaranty Obligation.

  • Contingent Payment Notwithstanding anything in this Agreement to the contrary, if any of the Properties are sold by Buyer within twelve (12) months after the Closing Date, Buyer shall pay to Seller an amount equal to five percent (5%) of the Consideration allocated to such Property. The Deeds shall contain a deed restriction granting Seller the right to receive such additional sum from Buyer.

  • Litigation and Contingent Liabilities No litigation (including derivative actions), arbitration proceeding or governmental investigation or proceeding is pending or, to the Company’s knowledge, threatened against any Loan Party which might reasonably be expected to have a Material Adverse Effect, except as set forth in Schedule 9.6. Other than any liability incident to such litigation or proceedings, no Loan Party has any material contingent liabilities not listed on Schedule 9.6 or permitted by Section 11.1.

  • Contingent Obligations Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, create or become or remain liable with respect to any Contingent Obligation, except:

  • Contingent Payments The Unilever Stockholder shall have the right to receive the Contingent Payments, if any, on the terms and subject to the conditions set forth on Exhibit 9 in recognition of its period of ownership of the Class B Shares.

  • Guaranty of the Obligations Subject to the provisions of Section 7.2, Guarantors jointly and severally hereby irrevocably and unconditionally guaranty to Administrative Agent for the ratable benefit of the Beneficiaries the due and punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”).

  • Certain Post-Closing Obligations As promptly as practicable, and in any event within the time periods after the Effective Date specified in Schedule 5.14 or such later date as the Administrative Agent reasonably agrees to in writing, including to reasonably accommodate circumstances unforeseen on the Effective Date, Holdings, the Parent Borrower and each other Loan Party shall deliver the documents or take the actions specified on Schedule 5.14 that would have been required to be delivered or taken on the Effective Date but for the proviso to Section 4.01(f), in each case except to the extent otherwise agreed by the Administrative Agent pursuant to its authority as set forth in the definition of the term “Collateral and Guarantee Requirement”.

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