Unsecured Note. This Note is unsecured.
Unsecured Note. The indebtedness evidenced by this Note shall at all times be unsecured.
Unsecured Note. This Note is an unsecured obligation of the Borrower.
Unsecured Note. At the Closing, Purchaser shall deliver to the Seller a promissory note (the "Unsecured Note") in the form of Exhibit C to be attached hereto in the principal amount of Six Hundred Thousand Dollars ($600,000).
Unsecured Note. The amounts due and owing under this Note shall be unsecured obligations of the Debtor. If the Debtor does not repay the principal and all accrued interest to Holder on the Maturity Date, Holder may pursue any contractual, legal or equitable remedies that are available to it.
Unsecured Note. Seller acknowledges and agrees that the indebtedness represented by this Note is unsecured.
Unsecured Note. This Note is unsecured and the Company and Holder agree that this Note shall not be secured at any time in the future by a grant of a security interest in any assets of the Company, whether or not those assets are owned by the Company at this time or acquired by the Company on a date subsequent to the date hereof. The provisions of this Section 3 are designed for the benefit of the third party senior creditors as well as the Company and Holder.
Unsecured Note. This Note is not secured.
Unsecured Note. The Purchaser shall deliver to Seller a promissory note executed by Purchaser, dated the Closing Date, in the form of Exhibit "H" attached hereto (the "Unsecured Note"), in the original principal amount of One Million Dollars ($1,000,000), as it may be decreased if so required pursuant to Section 8.3(g), payable by April 3, 2004, with interest at a rate of Twelve Percent (12%) per annum for so long as the Unsecured Note remains unsecured. If Purchaser elects to provide security for the Unsecured Note by granting to Seller a first priority lien on assets of the Purchaser, DXC-Chol and/or Chol Enterprises that are sufficient in Seller's reasonable opinion to secure the principal amount of the Unsecured Note, then the interest rate on the Unsecured Note shall be reduced to a rate equal to the LaSalle Bank National Association, Chicago, Illinois, publicly announced prime rate in effect from time to time, plus Two Percent (2%), per annum from and after the granting of such lien; plus
Unsecured Note. Maker and Payee (by its acceptance hereof) acknowledge and agree that this Note is not secured by any mortgage, lien, pledge, charge, financing statement, security interests, hypothecation, or other security device of any type.
