Term Promissory Notes definition
Examples of Term Promissory Notes in a sentence
Each request for a Subsequent Advance under the Advance Note, the Multiple Advance Term Promissory Notes, or the Revolving Line of Credit Promissory Note must be in the minimum amount of $50,000.00 or the unadvanced portion of the Note under which the Subsequent Advance has been requested, whichever is less.
The Secured Party shall lend to the Debtor the aggregate principal amount of Six Hundred Fifty Thousand Dollars and 00/100 Dollars ($650,000) (the "Loan"), pursuant to the terms of that certain Loan Agreement which Loan shall be evidenced by a Secured Term Promissory Note(s) (collectively, the "Note").
At the Initial Closing, the Purchasers will deliver to the Company (i) the Term Promissory Notes marked "paid in full," each dated January 15, 1992, made by the Company to the respective orders of the Purchasers, in lieu of the payment of $150,000, as described in Exhibit 1.01A, (ii) the Pledge Agreements dated January 15, 1992 between such Purchaser and the Company and (iii) the collateral, and the Company will deliver to each Purchaser by check all accrued interest therein through the date of Closing.
The principal amount of the Loans outstanding from time to time hereunder and represented by Term Promissory Notes shall bear interest at the per annum rate of nine and one-quarter percent (9.25%); and the principal amount of the Loans outstanding from time to time and represented by Future Advance Promissory Notes shall bear interest at the per annum rate of eight and one-half percent (8.50%).
Each of the holders (the “Holders”) of the Short Term Promissory Notes (the “2022 Notes”) as set forth on Section 7.2(h)(i) of the Company Disclosure Schedule shall have provided written consent to the assignment of such 2022 Notes from the Company to the Surviving Company; provided, that this Section 7.2(h)(i) shall be deemed to have been satisfied in the event an amendment to this Agreement to effect the Structuring Amendment is entered into accordance with Section 5.18.
The Loans shall be repaid in installments of principal (in the case of the Term Promissory Notes) and interest as more particularly set forth in each of the Notes, with all remaining principal, interest and other fees payable under the Notes being due and payable on June 30, 2005.
Subject to the terms of this Agreement, the Purchaser hereby purchases and agrees to accept from the Seller that number of the Issuer’s 8% Senior Secured Convertible Promissory Notes due 2026 (the “Convertible Notes”) and the Issuer’s 12% Senior Secured Term Promissory Notes due 2026 (the “Term Notes” and together with the Convertible Notes, the “Notes”) set forth in Section 1.01 and Section 1.02 of this Agreement, in consideration of the purchase price set out therein (the “Purchase Amount”).
The Secured Parties have purchased from the Debtor Original Issue Discount Term Promissory Notes (the “Notes”) in the aggregate face amount of $242,424.24, pursuant to a Securities Purchase Agreement between the Debtor and the Secured Parties dated as of the date hereof (the “Securities Purchase Agreement”), and, subject to the terms of the Securities Purchase Agreement, may purchase additional Notes in the aggregate face amount of $484,848.48 at Subsequent Closings.
The representations and warranties made by the Company and the Subsidiaries in the Commercial Revolving Loan, Term Loan and Security Agreement between the Company and State Street Bank and Trust Company dated as of April 27, 1995 (the "Credit Agreement") and the related Commercial Term Promissory Notes between the Company and State Street Bank and Trust Company dated as of May 31, 1996 and September 19, 1996 are true and correct.
Each of the documents to be executed and delivered at the Second Amendment Closing, including, without limitation, executed Term Promissory Notes substantially in the form of Exhibit A hereto, and all other certificates, documents and instruments to be executed in connection herewith shall have been duly and properly authorized, executed and delivered by Borrower and shall be in full force and effect on and as of the Second Amendment Closing Date.