Expense Note definition
Examples of Expense Note in a sentence
The Buyer, in making the decision to purchase the Expense Note from the Expense Note Sellers, has not relied upon any oral or written representations or assurances from the Expense Note Sellers or any of its officers, directors, partners or employees or any other representatives or agents of the Expense Note Sellers.
Blue Citi hereby agrees to waive all Defaults, and all known and unknown claims arising under or related to the Equity Line, the Convertible Notes, and the Expense Note as of the Effective Date.
Each Expense Note Seller will be, as of the date of the Closing, the legal and beneficial owner of his respective interest in the Expense Note.
This loan, secured on the cash in the account and a general lien on VT International’s assets shall be due in nine months from the Closing Date unless the Registration statement is deemed effective in which case the amount of the loan disbursed shall convert into common stock at 50% of the average market price for the 10 Trading Days subsequent to the Registration Effective Date but not greater than $.30 per share and the remainder in the account shall be used to pay the Expense Note balance.
Except as to provide the original date of investment, the Expense Note and each of the Convertible Notes shall be null and void as of the Effective Date.
In the event the amount to be paid by Purchaser pursuant to this Section 2.4 shall not be determined until after the Closing Date, Purchaser will deliver to Seller as promptly as possible thereafter a new or replacement Expense Note reflecting the principal amount after such determination, upon surrender by Seller of the original Expense Note (with interest on the amount of any increase in principal to be calculated from the Closing Date).
Pursuant to the authority granted under Section 2 of the Expense Agreement, the Company and the Expense Note Sellers hereby agree to terminate the Expense Agreement and to convert the Advanced Amount into the Expense Note, a form of which is attached hereto as Exhibit A.
This Agreement has been validly authorized, executed and delivered by the Buyer and, assuming the due authorization, execution and delivery thereof by the Expense Note Sellers, is a valid and binding agreement enforceable in accordance with its terms, subject to the general principles of equity and to bankruptcy or other laws affecting the enforcement of creditors’ rights generally.
Once included as part of the Consolidated Note, the Expense Note shall be of no further force and effect, other than to represent the original issuance date of the Expense Note, which the Parties agree is 06 February 2018.
In order to facilitate such discussions, ▇▇▇▇ ▇▇▇▇▇▇▇ will provide to ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ monthly cash-flow forecasts at the start of each month, and Messrs Regenstein and ▇▇▇▇▇▇▇ shall, within two weeks from the date of the letter, prepare a forecast, based on ▇▇▇▇ Camden Holdings’ budget and projections, of projected cash available to apply to the ▇▇▇▇ Expense Note and Loton Expense Note for 2014 and 2015.