Total Payoff definition
Total Payoff means the Initial Payoff and Contingent Payoff; provided that if no Contingent Payoff is required to be paid pursuant to the terms of this Letter Agreement, then the Total Payoff shall mean the Initial Payoff. In no event shall the Total Payoff exceed the Maximum Amount. “Vineyard Bancshares” shall mean Vineyard Bancshares, Inc., a Minnesota corporation. “Vineyard Bank” shall mean Vineyard Bank, National Association, a national bank.
Total Payoff means the Initial Payoff and Contingent Payoff; provided that if no Contingent Payoff is required to be paid pursuant to the terms of this Letter Agreement, then the Total Payoff shall mean the Initial Payoff. In no event shall the Total Payoff exceed the Maximum Amount.
Examples of Total Payoff in a sentence
The time that the Total Payoff Amount shall have been received by the persons identified on Schedule II hereto is referred to herein as the “Specified Time”.