Payment of Loan. 2.1 In consideration of the Resident making an interest free loan in the Loan Amount to the Scheme Operator, the Scheme Operator agrees to grant to the Resident the right to reside and upon termination or surrender of the right to reside to repay the Loan in the manner provided in Clause 3.

Payment of Loan. 4.1 If the issuance account appointed by the borrower is the dedicated loan issuance account opened at the loaner, the issuance and payment of loan should be handled through the account, which may only be used to issue and externally pay the loan fund and only sell the certificate of “Application for Settlement Business” but may not be used to handle any check, draft, bank acceptance or any other settlement. When handling the allocation of loan fund independently, the borrower must handle procedures at the counter of the bank of deposit. The deposit interest of the account should be accounted into the repayment account of the borrower.

Payment of Loan. Upon payment in full, at maturity, of all principal and interest due to Pledgee under the Note, together with any other amounts due to Pledgee under the terms of the Note or this Agreement, less amounts received and applied by Pledgee in reduction of the Loan, and upon full satisfaction of all of the other Obligations provided for under this Agreement and the Note, Pledgee shall transfer to Pledgor all of the Pledged Shares and all rights received by Pledgee as a result of Pledgee's record ownership of the Pledged Shares and this Agreement shall terminate. Notwithstanding the above requirement that the Obligations be satisfied in full prior to Pledgee's release of its interest in the Pledged Shares under this Agreement, Pledgee shall extend all reasonable cooperation to Pledgor in connection with any proposed sale by Pledgor of the Pledged Shares, provided the proceeds of such sale shall be applied by Pledgor to repay the Loan in full, together with all other amounts owed to Pledgee with respect to the Obligations.

Payment of Loan. 5.1 The loan under this Contract shall be paid in the second way as follows:

Payment of Loan. Borrower (i) shall pay --------------- interest accrued on the Loan as provided in Section 2.2(a) and (ii) shall pay the Outstanding Principal as of the Commitment Termination Date and all interest thereon in 36 equal monthly installments, commencing on July 1, 1997 and thereafter on the first day of each month until the Maturity Date. All payments on the Loan shall be applied first to the payment of unpaid interest and the balance, if any, to Outstanding Principal. Amounts repaid by Borrower may not be reborrowed.

Payment of Loan. SMG will pay the lender the total amount of Two hundred thousand dollars (US$200,000) plus interest payment by or before October 31, 2003. If the Singing Machine is unable to pay this amount in full on October 31, 2003, the tender agrees that it will convert its loan and all accrued interest into equity of the Singing Machine. The conversian price will be equal to the average trading price of the Singing Machine's common stock during the last five trading days prior to August 1, 2003. In the event the average price of the Singing Machine's stock is below the Conversion Price on Maturity Date, the Conversion Price will be recalculated so that it equals the average of the high and low sales prices during the 5 trading days prior to Maturity Date. After the Lender has converted its loan into equity, the Lender agrees that the Singling Machine will not have any obligation to repay the $200,000 loan.

Payment of Loan Sample Clauses

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