The Promissory Note. The outstanding principal amount of the Loan shall be evidenced by and subject to the terms of a promissory note, dated of even date herewith, substantially in the form set forth as Exhibit 1 hereto (the "Note") payable to the order of the Lender and representing the obligation of the Borrower to pay the Lender the amount of the Loan, with interest thereon, as prescribed in Section 1.4. The Lender is authorized to endorse the date and amount of the Loan and each repayment of principal and/or interest with respect thereto on the Schedule A annexed to and constituting a part of the Note, which endorsement shall constitute prima facie evidence of the information endorsed.
The Promissory Note. The outstanding principal amount of the Loan shall be evidenced by and subject to the terms of a promissory note, dated of even date herewith, substantially in the form set forth as Exhibit 1 hereto (as amended, renewed, restated, increased, consolidated or substituted from time to time, the "Note"), payable to the order of Lender and representing the obligation of Borrower to pay Lender the amount of the Loan, with interest thereon, as prescribed in Section 1.4. All references to the "Note" in this Loan Agreement and the Security Agreement (each as defined in this Loan Agreement) and in such other agreements and documents executed and delivered in connection with this Loan Agreement shall be deemed to be references to the Note referred to in this Section.
The Promissory Note. The Promissory Note has been duly authorized, executed and delivered by the Company and constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.
The Promissory Note. When the Company executes and delivers this Agreement to Sponsor, the Company also will execute and deliver to Sponsor a Promissory Note in the form of Exhibit A hereto (the "Note"). The Note will evidence the Company's obligation to repay the Previously Advanced Amount and all Advances Sponsor makes pursuant to this Agreement.
The Promissory Note. (b) An Assignment and Assumption Agreement, in substantially the form attached as EXHIBIT E hereto;
The Promissory Note. 2. In consideration for Holder removing the above described covenants from the Promissory Note, Maker does hereby grant to Holder warrants to purchase stock of Maker based on the following terms and conditions:
The Promissory Note. The Promissory Note has been duly authorized, executed and delivered by the Company and constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, subject to Enforceability Exceptions.
The Promissory Note. The Company, upon the Target Group has achieved the Guaranteed Profit in the Profit Guarantee Period, shall issue to the Vendor the Promissory Note in the principal amount of HK$10,000,000 on the following principal terms: Issuer : The Company Principal amount : HK$10,000,000 Interest : Nil Maturity Date : 1 year Repayment : Due and repayable on the Maturity Date Transferability : Neither the Company nor the holder(s) of the Promissory Note may assign any of its rights and obligations without the prior written consent of the other party Early redemption : No early redemption right Conditions Completion shall be conditional upon and subject to:
The Promissory Note. The promissory note is the legally binding document that is evidence of a borrower’s indebtedness to a school. A student must sign this note before he or she can receive any Xxxxxxx Loan funds and must be given a copy of the note at (or before) the exit interview. The note includes information about the loan’s interest rate, repayment terms, and minimum rates of repayment; deferment, forbearance, and cancellation provisions; collection costs; attorney fees; and late charges. The Department has issued two sets of different promissory notes, either of which a school may use. Dear Colleague Letter CB-93-9, dated July 1993, included information and sample promissory notes. The Department issued redesigns of the July␣ 1993 promissory notes in Dear Colleague Letter CB-96-8, dated May␣ 1996. Both sets of notes (July␣ 1993 and May␣ 1996) include all changes required by the Higher Education Amendments of 1992. A school must use a promissory note that the Department has approved; the school may make only nonsubstantive changes to the note (such as changes to the type style or the addition of items such as the borrower’s driver’s license number). A promissory note must state that the school is required to disclose to any one of the national credit bureaus with which the Department has an agreement the amount of the loan made to the borrower along with other relevant information. The note must also state that if the borrower Dear Colleague Letters CB-93-9 and CB-96-8 Minor who signs promissory note defaults on the loan, the school or the Department, if the loan is assigned to the Department for collection, is required to disclose the default and any other relevant information to the same national credit bureau to which the loan was originally reported. The Higher Education Amendments of 1992 eliminated the “defense of infancy,” whereby the signing of a contract by a minor would not create a binding obligation. Under this provision of the law, a minor may sign a promissory note without an endorser or any security, and the minor who signs is responsible for repayment regardless of any state law to the contrary. If the school does not have a valid note or other written evidence that would be upheld in a court of law, the school has no recourse against a borrower who defaults. In such cases, the school would have to repay to its Xxxxxxx Loan fund any amounts loaned, whether recovered from the borrower or not, as well as any Administrative Cost Allowance (ACA) claimed on ...
The Promissory Note. At the time of execution of this Agreement, the Borrower shall execute and deliver to Lender a Promissory Note evidencing the obligations of Borrower in connection with Letters of Credit to be issued hereunder. Each payment by Lender pursuant to a drawing under a Letter of Credit shall constitute and be deemed an Advance by Lender to Borrower under the Promissory Note and this Agreement as of the day and time such payment is made by Lender and in the amount of such payment. Notwithstanding anything to the contrary contained in this Agreement, Borrower shall have no right to borrow and Lender shall have no duty to lend hereunder, except to the extent of the payment of drafts drawn and presented in accordance with the terms of a Letter of Credit. At the time of an Advance hereunder or a repayment made in whole or in part thereon, a notation thereof shall be made on the books and records of the Lender. All amounts recorded shall be, absent manifest error, conclusive and binding evidence of (i) the principal amount of the Advances advanced hereunder, (ii) any accrued and unpaid interest owing on the Advances, and (iii) all amounts repaid on the Advances. The failure to record any such amount or any error in recording such amounts shall not, however, limit or otherwise affect the obligations of the Borrower under the Promissory Note to repay the correct and undisputed principal amount of the Advances, together with all interest accruing thereon.