Note Repayment. All repayments shall be made in lawful money of the United States of America by wire transfer to a bank account to be designated by the Lender. All Notes outstanding under the Purchase Agreement, and any other Note Purchase Agreement outstanding by the Company as of the date hereof, shall rank equally without preference or priority of any kind with respect to one another, and all payments with respect to any of the Notes that have not been converted shall be applied ratably in proportion to the Loan Amounts represented thereby. The Company shall be entitled to repay all or any portion of the principal or accrued interest outstanding under the Notes upon prior written notice to the Lender.
Note Repayment. The Note shall be repayable as follows:
Note Repayment. Notwithstanding anything herein to the contrary, the Notes will survive the Separation Time. At the Closing, if the full proceeds of the Red Lion Financing are available to USHC, USHC will make the Note Repayment to Indigo and Alberta, as applicable.
Note Repayment. In the event that the Extended Maturity Date Option is exercised, the principal and interest accruing on the Note shall be repayable in the manner provided therein.
Note Repayment. The Borrower undertakes to pay all amounts due on this Note out of the proceeds from and on the closing dates of sales by the Borrower of any equity or debt instruments in amounts equal to fifteen percent (15%) of net future financings until such time that all amounts due under the Note have been repaid.
Note Repayment. Within seven days of the Closing, Company shall repay the indebtedness plus all accrued interest owed to Purchaser by Company in the original principal amount of $500,000 and by LinuxMall, Inc. in the original principal amount of $500,000. Purchaser agrees to extend the term of payment of each note representing such indebtedness to the date seven days from the Closing.
Note Repayment. Except as provided on Schedule 6.02(i), all indebtedness payable to the Principal Shareholder or any affiliates including Xxxxxxx-MC, Incorporated and its respective affiliates shall have been converted to Company capital stock.
Note Repayment. Holder will pay off the Note at the end of his employment Term or at the end of any extension(s) within 90 days of such termination if it is still outstanding. Holder will also have the option to exchange/sell back shares at market value back to the Company for the purpose of reducing or eliminating the note balance. This repayment may be executed by Holder at any time during his employment Term without restrictions since the exchange is directly with the Company and not on the open market. An example of with fictional assumptions would be as follows: If the principle balance of the note was $25500,000 and the purchase price of the restricted stock was $.05/share and the market price was $.30/share on the day Holder elects to sell back shares to the Company the stock repayment formula would work as follows: Using the above example the Executive would have a paper profit of $.25/share ($.30-.05). By exchanging/selling back to the Company 12 million of his shares the note would be paid off with the paper profit ($.25/share x 12 million shares = $25500,000). If this were the case the remaining shares held by Holder would be free and clear of any financial obligation to the Company. In addition, the Company grants the Holder the right to sell back shares to the Company for the purchase of note repayment at any time and it can be done in whole or in multiple parts at the option of the Holder at any time during his employment Term plus any extensions.
Note Repayment. The Lender's Advances shall be evidenced by a Revolving Loan Note executed by the Borrower and delivered to the Lender pursuant to Article IV (as amended, modified, substituted or supplemented from time to time, the "Note"), substantially in the form of Exhibit C, in an original principal amount equal to the maximum Advance Commitment on the date hereof. Unless the Termination Date shall have earlier occurred, the Borrower shall repay the principal amount of the Advances outstanding on the Maturity Date.
