Notes Payable Clause Samples

Notes Payable. The term "Notes Payable" shall mean any and all indebtedness of Seller (i) pursuant to a credit facility dated March 13, 1997 ("WCMA Note, Loan and Security Agreement") between Seller and ▇▇▇▇▇▇▇ ▇▇▇▇▇ Financial Business Services, Inc. in the aggregate original principal amount of $300,000 due March 1998, or (ii) to Citibank.

Notes Payable. With respect to the Borrower and all Restricted Subsidiaries, all Indebtedness for Money Borrowed other than promissory notes issued as ▇▇▇▇▇▇▇ money for contracts, non-recourse promissory notes for seller financing and notes payable for insurance premiums and capitalized lease obligations.

Notes Payable. The term “

Notes Payable. EXHIBIT C --------- Attached is the results of a UCC lien and judgment lien search conducted through December 5, 2000 by Charles Baclet and Associat▇▇, ▇▇▇. ▇▇ ▇▇cember 27, 2000. EXHIBIT D --------- EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES -------------------------------------------- The following are exceptions to the indicated representations and warranties of the Company contained in Section 3 of the Debenture Placement Agreement (the "Agreement"):

Notes Payable. The notes payable referred to in Section 4.15(c) shall have been paid prior to or at Closing and such payment shall not be accomplished by using Company assets or incurring Company debt.

Notes Payable. Nu-Wave shall cause the Surviving Corporation to honor its notes payable to the Parent Shareholders subject to delivering to the Surviving Corporation of canceled checks or wire transfer evidence evidencing that such loans were made and shall pay such rates in full upon the successful completion of its contemplated private placement of its equity securities.

Notes Payable. Any liability or obligation of E2S, relating to any long-term debt, interest-bearing debt, line of credit or note payables or other encumbrances, including any accrued interest concerning the same, including (without limitation) the ▇▇▇▇▇▇▇▇ Mortgage Loan and the BLDC Loan including (i) A/A #57, (ii) EDA #100 SchoolWorks, (iii) EDA #114 E2S and (iv) IRP #56 (#3) SchoolWorks, and accrued interest payable on the same.

Notes Payable. (i) Pierre Foods issues two notes payable in the amounts of $115 million and $30 million (with interest rates of 11 1/4% and 8 1/4%, respectively) to Fresh Foods (the "Notes") in exchange for (i) the purchase money contributed by Fresh Foods for the purchase of the Pierre Assets and (ii) the Smokehouse Assets and other manufacturing operations; and (ii) Fresh Foods assigns the Notes to Sales as a capital contribution. EXHIBIT A [Organizational Chart--Omitted] 16 EXHIBIT B [Organizational Chart--Omitted] 17 EXHIBIT C [Organizational Chart--Omitted] 18 EXHIBIT D [Organizational Chart--Omitted] 19 EXHIBIT E [Organizational Chart--Omitted] 20 EXHIBIT F [Organizational Chart--Omitted] 21 EXHIBIT B-1 POST-REORGANIZATION: FORMER SUBSIDIARY BORROWERS Georgia WSMP Greenville Food Systems Incorporated Matt▇▇▇▇ ▇▇▇me Sirloin, Inc. SC WSMP Elloree Foods D&S Food Systems, LLC Georgia Buffet Restaurants, Inc. Prime Sirloin, Inc. Kingsport Foods Sagebrush DTN, Inc. Sagebrush of Sevierville, Inc. Knoxville Foods, Inc. Oak Ridge Foods, Inc. Tumbleweed of Pigeon Forge, Inc. Sagebrush, Inc. Tennessee WSMP, Inc. Brunswick Associates, Inc. Seven Stars Virginia WSMP St. Augustine, Inc. Naples, Inc. EXHIBIT B-2 POST-REORGANIZATION BORROWERS Fresh Foods, Inc. Pierre Leasing, LLC Pierre Foods, LLC Fresh Foods Properties, LLC Claremont Restaurant Group, LLC Fresh Foods Sales, LLC Sunshine WSMP, Inc. Mom & Pop's Country Ham, LLC Sagebrush of SC, LLC Sagebrush of NC, LLC Chardent, Inc. Spicewood, Inc. Sagebrush of TN, LP EXHIBIT C AMENDED AND RESTATED SCHEDULES TO CREDIT AGREEMENT SCHEDULE 1.1A LENDERS AND COMMITMENTS REVOLVING REVOLVING CREDIT LETTER OF CREDIT COMMITMENT CREDIT LENDER COMMITMENT PERCENTAGE COMMITMENT ------ ---------- ---------- ---------- First Union Commercial $22,500,000 30.00001% $3,000,000 Corporation American National Bank & $17,500,000 23.33333% Trust Company National City Bank $17,500,000 23.33333% NationsBank, N.A. $17,500,000 23.33333% TOTAL $75,000,000 100.00000% $3,000,000 SCHEDULE 1.1B

Notes Payable. On January 5, 2012, the Company entered into an agreement for sale with a non-related party to purchase the lands (120 acres in Ashcroft, British Columbia) for the price of $450,000. The Company agreed to pay $25,000 (paid) upon the execution of this agreement. Pursuant to the terms of the agreement, the Company agreed to make annual payments of $24,000 on each of the anniversary of the agreement date commencing on January 5, 2013 until the balance is paid in full. As of November 30, 2013, the amount of $425,000 is owed to the creditor. The balance owing bears an 8% interest calculated semi-annually. Interest expense and accrued interest for the period ended and as of November 30, 2013 was $16,953 and $108,448, respectively. The Company is currently in default on this loan agreement. The Company has a line of credit arrangement with a bank for up to $25,000. This line of credit has an annual interest rate of 5%. As of August 31, 2013, there was $17,696 outstanding under this line of credit. During the three months ended November 30, 2013, the line of credit was paid down to a $0 balance as of November 30, 2013. On October 28, 2013, the Company received $100,000 by issuing a note payable to a third party. The maturity date of this note was December 27, 2013, with an annual interest rate of 10% and default annual interest rate of 18%. Interest expense and accrued interest for the period ended and as of November 30, 2013 was $921. The Company is currently in default with this loan agreement, and has begun accruing interest at 18% per annum.