Payment of the Xxxx Note Sample Clauses

Payment of the Xxxx Note. Notwithstanding the provisions of the Xxxx Subordination Agreement to the contrary, US Vision may pay the Xxxx Note in accordance with the terms thereof so long as: (i) no Event of Default or Potential Event of Default has occurred and is continuing on the date of the payment of the Xxxx Note; (ii) but for the restrictions in the Xxxx Subordination Agreement, the payment of the Xxxx Note would not cause the occurrence of an Event of Default; (iii) no more than Four Million ($4,000,000) Dollars of principal together with accrued interest thereon is paid in respect of the Xxxx Note in consideration of the full and complete satisfaction of the obligations of any of the Obligors to Xxxx National in respect of the Xxxx Note, with evidence thereof to be delivered to the Lender in form and substance acceptable to the Lender within ten (10) days of the payment thereof; and (iv) Palisade shall have contributed no less than Two Million ($2,000,000) of equity to US Vision in connection with the Subject Transactions, net of all disbursements contemplated under the Subject Transactional Documents, and prior to the payment of the Xxxx Note, either Palisade shall, or shall cause another investor reasonably acceptable to the Lender to, have contributed to US Vision no less than an additional Two Million ($2,000,000) Dollars as equity, or as subordinated debt, which subordinated debt shall be upon such terms and conditions as are acceptable to the Lender.
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Related to Payment of the Xxxx Note

  • Payment and Prepayment of the Notes Section 8.1.

  • Payment of Note Punctually pay or cause to be paid the principal of, interest on and all other amounts payable hereunder and under the Note in accordance with the terms thereof.

  • Payment of Additional Interest (a) Under certain circumstances the Company will be obligated to pay certain additional amounts of interest to the Holders of certain Initial Notes, as more particularly set forth in such Initial Notes.

  • Allocation of Payments After Event of Default Notwithstanding any other provisions of this Credit Agreement, after the occurrence and during the continuance of an Event of Default with respect to any Borrower, all amounts collected from such Borrower or received by the Administrative Agent or any Lender on account of amounts outstanding under any of the Credit Documents shall be paid over or delivered as follows: FIRST, to the payment of all reasonable out-of-pocket costs and expenses (including without limitation reasonable outside attorneys’ fees other than the fees of in-house counsel) of the Administrative Agent or any of the Lenders in connection with enforcing the rights of the Lenders under the Credit Documents against such Borrower and any protective advances made by the Administrative Agent or any of the Lenders, pro rata as set forth below; SECOND, to payment of any fees owed to the Administrative Agent or any Lender by such Borrower, pro rata as set forth below; THIRD, to the payment of all accrued interest payable to the Lenders by such Borrower hereunder, pro rata as set forth below; FOURTH, to the payment of the outstanding principal amount of the Loans or Letters of Credit outstanding of such Borrower, pro rata as set forth below; FIFTH, to all other obligations which shall have become due and payable of such Borrower under the Credit Documents and not repaid pursuant to clauses “FIRST” through “FOURTH” above; and SIXTH, the payment of the surplus, if any, to whoever may be lawfully entitled to receive such surplus. In carrying out the foregoing, (a) amounts received shall be applied in the numerical order provided until exhausted prior to application to the next succeeding category and (b) each of the Lenders shall receive an amount equal to its pro rata share (based on each Lender’s Commitment Percentages) of amounts available to be applied.

  • Form of Payment After Default Following the occurrence of an event of default by Tenant, Landlord shall have the right to require that any or all subsequent amounts paid by Tenant to Landlord hereunder, whether to cure the default in question or otherwise, be paid in the form of cash, money order, cashier’s or certified check drawn on an institution acceptable to Landlord, or by other means approved by Landlord, notwithstanding any prior practice of accepting payments in any different form.

  • Acceleration of Payment Notwithstanding anything to the contrary contained in this Agreement, the Committee shall have the right, at any time in its sole discretion, to accelerate the time of a payment under this Agreement to a time otherwise permitted under Section 409A in accordance with the requirements, restrictions and limitations of Treasury Regulation Section 1.409A-3(j).

  • Payment of the Notes Not later than 10:00 a.m. (New York City time) on each due date of the principal of, premium, if any, and interest on any Notes, the Company shall deposit with the Paying Agent money in immediately available funds sufficient to pay such principal, redemption payments, premium, if any, and interest so becoming due. All the payments must be in U.S. Dollars.

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