Rent Note definition
Examples of Rent Note in a sentence
BusinessMall agrees that if the entire principal balance and all accrued interest with respect to the Original Notes, the Rent Note, the Property Note, and the Compensation Note have not been paid in full, BusinessMall shall not enter into any such sale of the Call Center Assets unless the net proceeds of such sale are sufficient to pay in full the amounts owed pursuant to the Original Notes, the Rent Note (as hereinafter defined), the Property Note and the Compensation Note (as hereinafter defined).
In addition, except in the case of a default under (i) this Agreement, (ii) the Original Notes, (iii) the Rent Note, (iv) the Compensation Note, (v) the Property Note, or (vi) the Settlement Notes, Freeman, Maguire, CCC, ForcedMatrix, StormTel, and ITS shall not commence any adversarial proceedings against BusinessMall, its affiliates and subsidiaries.
If the Original Notes, the Compensation Note, the Rent Note and the Property Note are paid in full on or before March 15, 2001 then the Settlement Notes will be forgiven and canceled and UCC-3's releasing these security interests will be signed and delivered to BusinessMall and TheYPD for filing.
In the event that Lessee elects to terminate this Lease Agreement for any reason within six (6) months of the execution of this Lease Agreement, and Lessee pays to Lessor a certified check made to the order of BI in the sum of Sixty Thousand Dollars ($60,000.00), the above-described Rent Note shall be returned to Lessee marked "paid" or "cancelled".
In satisfaction of this obligation, BusinessMall and TheYPD agree to execute and deliver simultaneously with the execution of this Agreement, the Twenty-five Thousand Dollars ($25,000) Promissory Note attached hereto as Exhibit "V", and incorporated herein by reference (the "Rent Note").
Failure by Cogen to make any payment of principal or interest that has become due and payable as and when due pursuant to any provisions of the Rent Note within thirty (30) days after notice of nonpayment given by BI.
In the event that Lessee elects to terminate this Lease Agreement for any reason on or before November 22, 1986, and Lessee pays to Lessor a certified check made to the order of BI in the sum of Sixty Thousand Dollars ($60,000.00), the above-described Rent Note shall be returned to Lessee marked "paid" or "cancelled".
BusinessMall and TheYPD may, at their sole option, pay the Rent Note by assigning to CCC by written instrument, no later than November 30, 2000, with the landlord's written consent, the lease agreement with respect to BusinessMall's office space located at ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, and by paying when due all rent with respect to such office space through March 30, 2001.
BusinessMall and TheYPD hereby acknowledge that the debts evidenced by the Original Notes, the Settlement Notes, the Compensation Note, the Property Note, and the Rent Note (hereinafter collectively, the "Notes") are bona fide debts of BusinessMall and TheYPD and are not disputed debts, and there is no defense to the payment of any of such Notes in accordance with their terms, as expressly modified by this Agreement.
The Security Agreements included in the Debt Instruments, and the Stock Purchase Agreement, are hereby amended to the extent that any of the provisions thereof could be construed as precluding the obligations under the Rent Note, the Compensation Note, the Property Note, and the Settlement Notes, from being secured by the Security Agreements.