Unsecured Note Clause Samples

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. 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. This Note is an unsecured obligation of the Borrower.

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. The indebtedness evidenced by this Note shall at all times be unsecured.

Unsecured Note. This Note is not secured.

Unsecured Note. This Note is unsecured.

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.

Unsecured Note. This Note shall not at any time be secured by the assets or properties of the Company.