Loan to Company. On January 15, 1997, Parent will make a loan (the "Additional Loan") in the amount of $250,000 to the Company to be used by the Company exclusively for operating expenses in the ordinary course. The Company shall use such funds in consultation with Parent. The Additional Loan will be evidenced by a promissory note in substantially the form of the Convertible Note and will be secured by that certain License Agreement dated of even date herewith between the Company and Parent (the "License Agreement"). ARTICLE V
Loan to Company. The Promissory Note dated November 26, 2001 between the Parent and the Company, described in section 6.16 of the Merger Agreement, as modified by the Note Modification Agreement dated May 29, 2002, as of this date shows a principal balance due of$ 481,648.30 plus accrued interest due of $49,872.04. There are no other promissory notes or similar credit obligations outstanding between the Company on the one hand and the Parent and Merger Sub on the other hand. Contemporaneously with the execution of this Termination Agreement, the Company will complete a new financing arrangement. The closing of the new financing arrangement will occur simultaneously with the execution of this Termination Agreement. Part of the proceeds of this new financing arrangement will be used to fully satisfy the obligations of the above referenced loan obligation between the Parent and the Company. The Parent shall make no further demand or claim in regards to the loan described in section 6.16 of the Merger Agreement.
Loan to Company. The Purchaser will loan the proceeds from the sale of its securities to the Company. The loan will bear interest at prime 5.75% annum and will be due and payable on April 3,
Loan to Company. Mx. Xxxxxx XxXxxxx agrees to advance to the Company, by way of loan, up to $150,000, such advances to be evidenced by a Non-Negotiable Promissory Note in the form attached hereto as Exhibit A (the “Note”).
Loan to Company. The use of Bond proceeds described in Section 3.1 shall constitute a loan of such proceeds to the Company. Such loan shall be secured and repaid as provided in this Agreement. Such loan shall be evidenced only by this Agreement, and not by any separate promissory note or other instrument. Upon the delivery of the proceeds derived from the sale of the Bonds to the Trustee, the Company shall have received, and the Issuer shall have given, full and complete consideration for the Company's obligation to make payments as required by this Agreement.
Loan to Company. Until such time as the Shares are issued, the funds advanced to the Company shall be considered as a loan by me to the Company, which loan will not bear interest. Such loan is repayable either:
Loan to Company. Nothing in this Agreement shall prevent any Member from making secured or unsecured loans to the Company by agreement with the Company.
Loan to Company. Mr. Schwartz agrees to adxxxxx xx xxe Company, by way of loan, $25,000, such loan to be evidenced by the Non-Negotiable Promissory Note in the form attached hereto as Exhibit A (the "Note").
Loan to Company. Subject to the terms and conditions hereof, CapEx agrees to loan to the Company and the Company agrees to borrow from CapEx the Additional Advance of One Million Five Hundred Thousand Dollars (US$1,500,000). The Additional Advance shall be evidenced by, and payable in accordance with the terms and conditions of, the Amended and Restated Debenture issued to CapEx under the terms of this Agreement.
Loan to Company. Immediately following the M.I. Redemption, C-Stone shall loan an amount equal to the DIHC Redemption Price determined in accordance with Section 6 below to the Company either by advancing additional funds under the MSDI Loan, if the same can be advanced thereunder without exceeding the maximum principal balance thereof, or making a new recourse loan to the Company in such amount, such a new loan to be evidenced by a Promissory Note and Loan Agreement to be executed by the Company in favor of C-Stone in the form of Exhibit "C" annexed hereto. The proceeds of any such loan shall be paid to the Company by electronic transfer of federal funds pursuant to wire instructions to be provided to C-Stone by the Company.
