Note Installments Sample Clauses

Note Installments. With respect to the Restricted Stock purchase described herein, during the employment period (and the period following thereafter that is described in Section 6 of the Executive’s Employment Agreement), any installment that becomes due under the promissory note that is executed by Executive pursuant this Purchase Agreement shall be paid by Employer to Executive as additional compensation. Employer’s obligation hereunder expires upon a material breach by Executive of the restricted covenants in Sections 6,7 or 9, the termination of Executive for Cause (as defined in section 5(c)) of the Executive’s Employment Agreement or the resignation of Executive without Good Reason (as defined in Section 5(c)).
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Related to Note Installments

  • Amount of repayment instalments The Borrower shall repay the Loan by:

  • Payment Due Dates Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or facility fee, as the case may be; provided, however, that if such extension would cause payment of interest on or principal of LIBO Rate Advances or Floating Rate Bid Advances to be made in the next following calendar month, such payment shall be made on the immediately preceding Business Day.

  • Treatment of Installment Payments Each payment of termination benefits under this Agreement shall be considered a separate payment, as described in Treas. Reg. Section 1.409A‑2(b)(2), for purposes of Section 409A of the Code.

  • Installments For purposes of Section 409A of the Code (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), Executive’s right to receive any installment payments under this Agreement shall be treated as a right to receive a series of separate payments and, accordingly, each such installment payment shall at all times be considered a separate and distinct payment.

  • Scheduled Principal Payments The Borrower shall make payments of principal to Holder as follows: (i) on the first anniversary of this Note, the sum of $279,500, which represents 10% of original principal amount of this Note, (ii) on the second anniversary of this Note, the sum of $1,118,000, which represents 40% of original principal amount of this Note, and (iii) on May 18, 2010 (the “Maturity Date”), a final payment of the sum of the outstanding principal balance of this Note, including the amount of any PIK Interest, together with accrued and unpaid interest thereon, and all other obligations and indebtedness owing hereunder, if not sooner paid.

  • Repayment Dates The first Instalment shall be repaid on the date falling three months after the Drawdown Date, each subsequent Instalment shall be repaid at three-monthly intervals thereafter and the last Instalment, shall be repaid together with the Balloon Instalment, on the Final Repayment Date.

  • Installment Payments Notwithstanding Section 3.01, the Executive may elect by written notice to receive any payments due to him hereunder by way of periodic or installment payments.

  • Principal Payment Date Any unpaid principal of this promissory note (this "Demand Note") shall be paid on the Demand Date.

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