Subordinated Promissory Note. On February 2, 2007, Pamida Operating made a pre-payment of $30 million to ShopKo Operating for services under the TSA and DSA and ShopKo Operating signed a Subordinated Promissory Note (the “Pamida Note”) in the same amount payable to Pamida in fifteen payments of $2 million on the last day of each month beginning February 28, 2007 and ending April 30, 2008, subject to set-off rights as set forth in the TSA and DSA. Interest accrues on a daily basis at the rate of 4.93% per annum on the unpaid principal amount and Pamida Operating has the option to call the Pamida Note in certain circumstances. The Pamida Note is subordinated to ShopKo Operating’s senior secured debt. As of February 3, 2007, the $30 million Pamida note is included in Deferred Taxes and Other Accrued Liabilities.
Subordinated Promissory Note. The Buyer will use commercially reasonable ---------------------------- efforts to provide in the Subordination Agreement referenced in Section 6.09 for payments when due under the Subordinated Promissory Note subject to the conditions as provided by the lending party in such Subordination Agreement. Notwithstanding the foregoing, the Buyer shall not be limited in any manner from selecting a loan commitment and entering into a Subordination Agreement pursuant thereto which, in its good faith judgment, is in the best interest of the Buyer.
Subordinated Promissory Note. The Subordinated Loans shall be evidenced by Subordinated Promissory Notes, which shall be payable to the order of Lender upon the terms and conditions contained therein in a form acceptable to Lender, in its sole discretion. Payments of interest and principal shall be due monthly in the amounts and as set forth in the Subordinated Promissory Notes. All unpaid principal and unpaid accrued interest, if not sooner paid, shall be due and payable in full on the Maturity Date.
Subordinated Promissory Note. The balance of the Purchase Price shall be paid by Buyer executing and delivering to Seller the Subordinated Promissory Note in the principal amount of such balance. The principal balance of the Subordinated Promissory Note delivered at Closing shall be based upon the Estimated Purchase Price, and shall subsequently be adjusted to reflect the final Purchase Price in accordance with Section 5.2.
Subordinated Promissory Note. Execute and deliver to Seller the Subordinated Promissory Note.
Subordinated Promissory Note. At the Closing, the portion of the Aggregate Purchase Price payable to MW in the form of the Subordinated Promissory Note (the "Subordinated Promissory Note") attached hereto as Exhibit 2.2(b) shall be not less than $1,800,000 and not more than $2,000,000. The actual amount within such range shall be determined by Moovies at its sole discretion.
Subordinated Promissory Note. The Pledgor will not amend, modify or otherwise change, or consent to any amendment, modification or other change to, that certain Subordinated Promissory Note dated as of December 31, 2002 by Borrower in favor of Pledgor, without the prior written consent of the Collateral Agent (not to be unreasonably withheld).
Subordinated Promissory Note. That certain Subordinated Promissory Note, dated April 11, 2001, in the principal amount of $4,250,000, by J&B Restaurant Partners of Long Island, LLC and J&B Restaurant Partners of Long Island II, LLC in favor of Borrower.
Subordinated Promissory Note. Seller acknowledges and agrees that the Subordinated Promissory Note shall be subordinated as to payment and priority to any and all institutional lenders of PEI and its subsidiaries and in furtherance thereof, Seller shall execute such subordination agreements as may be required by such institutional lenders from time to time.
Subordinated Promissory Note. The holder of the Subordinated Promissory Note shall have effected an amendment substantially in the form of Exhibit A hereto.
