Satisfaction of Note. Once the Preferred Shares and the Warrants are issued to the Holder, the Note shall be satisfied in full and there shall be no further obligations of JKXJ related to the Note.
Satisfaction of Note. If the Pledgor has not reacquired possession of the certificates as provided in Section 8 above, upon the Pledgor's satisfaction of the Note, the Company shall deliver the certificates and Stock Powers to the Pledgor.
Satisfaction of Note. Holder acknowledges, that upon receipt of payment of the sum of $50,000 from Borrower, full payment of the indebtedness and satisfaction of the Note has occurred. Holder further consents to Borrower being able to rely on the satisfaction set forth herein.
Satisfaction of Note. In consideration for the repurchase of the Shares and as a material inducement for the Seller to enter into this Agreement, upon Closing Seller shall use the proceeds from the Purchase Price to repay the principal and interest obligations accrued through Closing under the Promissory Note and, to the extent necessary, Seller shall pay to the Company any remaining principal and interest after application of such proceeds, or, if applicable, Seller may retain the excess of such proceeds. Upon Closing and payment of all of Seller’s obligations under the Promissory Note pursuant to this Section 9.2, the Promissory Note shall be deemed satisfied and thereafter Seller shall have no further obligations thereunder.
Satisfaction of Note. SM hereby declares that except as hereafter described, all obligations of LLC and ECD under the UPA including the obligation to pay the accrued interest described in the recitals above, are fully satisfied, paid in full and compromised and settled, and of no further force and effect.
Satisfaction of Note. This Assignment is accepted by Assignee from Assignor as complete payment and satisfaction of all of Assignor’s obligations under the Note.
Satisfaction of Note. The Note is fully satisfied. BIG BAD LENDER agrees the Does are not obligated to make any additional payments to BIG BAD LENDER, its successors, assigns, former and present directors, members, agents, servicers, principals, attorneys, shareholders, predecessors, subsidiaries, affiliates or parents pursuant to the Note.
Satisfaction of Note. Immediately upon the consummation of the transactions contemplated hereby, and without any further action required by any of the parties hereto, the Note shall be deemed to be fully satisfied and paid in full by Uhlenhop, and discharged by the Company, and such Note shall have no further force or effect.
Satisfaction of Note. Once the Preferred Shares and the Warrants are issued to the Holder, $1,250,000 of the Note shall be satisfied (the "Satisfied Portion").
Satisfaction of Note. On the Initial Payment Date and as a condition to receipt by the Executive of the payments contemplated by Sections 2, 3 and 4 hereof, the Executive shall repay to Holdings all outstanding principal and interest due under the Note of the Executive payable to the order of Holdings dated as of April 14, 1993, in the principal amount of $125,000.00 (the "Note"). Any amounts received by the Executive on the Initial Payment Date in respect of the Initial Option Payment or the Initial Purchase Price may be used by the Executive to offset any amount due in respect of outstanding principal and interest under the Note.
