Terms of Promissory Note. The sixth sentence of Section 1.4(b) of the Merger Agreement is hereby amended in its entirety to provide as follows: “Any such promissory note shall be on terms as provided by the Parent or the Purchaser, which terms shall include the following: (i) the principal amount and accrued interest under the promissory note shall be payable upon the demand of the Company, (ii) the unpaid principal amount of the promissory note will accrue simple interest at the per annum rate of 3.0%, (iii) the promissory note may be prepaid in whole or in part at any time, without penalty or prior notice and (iv) the unpaid principal amount and accrued interest under the promissory note shall immediately become due and payable in the event that (x) Purchaser fails to make any payment of interest on the promissory note as provided therein and such failure continues for a period of 30 days or (y) Purchaser files or has filed against it any petition under any bankruptcy or insolvency law or makes a general assignment for the benefit of creditors.”
Terms of Promissory Note. The purchase price specified in Section 7.2, if positive, will be paid within 120 days of dissociation by a promissory note drawn on the Limited Liability Company. The promissory note will provide for equal monthly payment of principal and interest at the rate of 12% per annum. Such payments will be paid over a period of 36 months, starting with one month after the date of the promissory note. The promissory note will provide for no prepayment penalty and will be immediately due and payable if there is a failure to make a timely payment of principal or interest and such payment is not made within 20 days of the date written demand to make payment is received.
Terms of Promissory Note. The terms of the Promissory Note have been negotiated on an arm’s length basis and the principal terms of which are summarised below: Parties: The Company as issuer and Xx. Xxxx as payee Principal Amount: HK$600 million Maturity: A fixed term of 24 months from the date of issue of the Promissory Note.
Terms of Promissory Note. The promissory note required by clause (ii) of Section 2.02 shall have a maturity date of one year after the Closing, an interest at a rate of eight percent per annum payable at maturity and shall be convertible in lieu of payment at maturity at the election of the registered holder into additional shares of IFSI’s common stock, the number of such shares determined by dividing the principal amount of and accrued interest on the note by $1; provided, that the principal amount of such note can be reduced based on performance of Net Operating Profits company remains intact, holds its own business wise, no cash put in by holding company for failing business and company remains profitable, otherwise note is reduced dollar for dollar. It is not a negative if holding company board decides to put in additional funds to bring in new business.
Terms of Promissory Note. The promissory note referred to in Section 5.2 above shall provide that the maker shall have the privilege of prepaying all or any part thereof at any time with interest to the date of prepayment, that a default in any payment when due shall cause the remaining unpaid balance to become due and payable forthwith and shall further provide for the maker to pay all costs and expenses of collection, including reasonable attorneys' fees. The obligations of the maker under the note shall be secured by the Stock being purchased.
Terms of Promissory Note. When the Company or one or more Remaining Members purchase Units by promissory note, the note shall be unsecured, nonnegotiable and subordinate (on such terms as the Manager shall require) to any other obligations for borrowed funds of the Company or the Remaining Members, whether existing or future obligations, and, except as otherwise agreed by the purchaser(s) and the seller of the Units, the note shall state that principal and interest thereon shall be paid in five (5) equal annual cash installments commencing on the closing date with each subsequent installment being paid on each annual anniversary thereafter until the promissory note is paid in full. The note shall state that it may be pre-paid at any time without premium or penalty. The interest rate for the note shall be the prime rate as reported from time to time on the Money Page of the Wall Street Journal plus one percent (1%).
Terms of Promissory Note. The Purchase Note shall bear interest at ------------------------ the rate of ten percent (10%) per annum, simple interest payable January 1, April 1, July 1, and November 1 and shall be subject to adjustment as provided below. The principal
Terms of Promissory Note. 1.3 Sample Balance Sheet and Net Working Capital Calculation 4.1(d) Required Consents 5.3 Excluded Liabilities LLC INTEREST PURCHASE AGREEMENT This LLC Interest Purchase Agreement (this “Agreement”) is made and entered into as of June 10, 2011, by and among Zoo Stores, Inc., a Delaware corporation (“Buyer”), Mercantila Acquisition, LLC, a Delaware limited liability company (the “Company”), and InfoSpace, Inc., a Delaware corporation and the sole member of the Company (“Parent”). Certain capitalized terms used herein are defined in Article IX below.
Terms of Promissory Note. Exhibit 1.3 Sample Balance Sheet and Net Working Capital Calculation Exhibit 4.1(d) Required Consents Exhibit 5.3 Excluded Liabilities
Terms of Promissory Note
