Company Loan. If the Non-Defaulting Member shall elect to make a loan to the Company as provided in clause (y) of Section 5.3(a) above, the Non-Defaulting Member shall designate such loan as a “Company Loan“. Company Loans shall bear interest (“Company Loan Yield“) at the cumulative annual interest rate (the “Default Rate“) equal to the lesser of (i) 18% per annum and (ii) the maximum rate of interest permitted by applicable law, compounded monthly on the average daily outstanding balance of principal, and shall be paid ahead of any distributions payable to the Members pursuant to Article 7 or Article 12 of this Agreement. Interest expense incurred on any Company Loan shall be treated as an obligation and expense of the Company. Payments on the Company Loans shall be made pro rata in proportion to the principal amount of and any accrued interest on all such Company Loans, and shall be applied first to accrued interest and then to principal.
Company Loan. Notwithstanding the provisions of Section 6 of the Loan Agreement, dated as of May 17,1999, between the Executive and the Company (the "Loan Agreement"), the Executive shall not be required to prepay the entire Principal Amount (as defined in the Loan Agreement), together with all unpaid accrued interest and other charges properly incurred by the Company thereon (determined in accordance with the Loan Agreement) as of the date of termination, and instead shall be required to prepay such Principal Amount and all unpaid accrued interest other charges properly incurred by the Company thereon (determined in accordance with the Loan Agreement) on the first anniversary of the date of termination. The Loan Agreement shall be amended by the Company and the Executive to reflect the foregoing provision.
Company Loan. If any Member does not fund a Required Additional Capital Contribution in accordance with Section 3.2(a) or a Requested Additional Capital Contribution in accordance with Section 3.2(b), then, provided the Non-Defaulting Member has funded its Required Additional Capital Contribution or Requested Additional Capital Contribution, as the case may be, (i) the entire amount of the Required Additional Capital Contribution or Requested Additional Capital Contribution, as the case may be, made by the Non-Defaulting Member shall be deemed a loan to the Company (such loan is referred to herein as a “Non-Defaulting Member Company Loan”), and (ii) the Non-Defaulting Member (which shall expressly not include any Unadmitted Assignees) shall have the right (but not the obligation) to make a loan to the Company in the amount of the Defaulting Member’s entire Required Additional Capital Contribution or Requested Additional Capital Contribution, as the case may be (the amount of the Defaulting Member’s failed Capital Contribution is referred to herein as the “Failed Contribution Amount” and any loan made to the Company by the Non-Defaulting Member with respect to such Failed Contribution Amount is referred to herein as a “Failed Contribution Company Loan” and the Failed Contribution Company Loans together with the Non-Defaulting Member Company Loans are referred to herein as the “Company Loans”), in each case with recourse solely to the Company and its assets. Any Company Loan shall be expressly subordinated to all Member Loans and to any senior credit facility of the Company to the extent required by such senior credit facility, and the Defaulting Member shall bear all reasonable and customary costs and expenses related thereto and to the negotiation and documentation thereof, including reasonable fees and expenses of the counsel and accountants of the Company and the Member making such Company Loan. Any Company Loan shall not be treated as a Capital Contribution by the Member making such Company Loan and shall not increase the Capital Account of such Member or result in any adjustment to the number of Units held by any Member unless and until such Company Loan (or portion thereof) is converted to a Capital Contribution in accordance with Section 3.3(b) or 3.3(c). Subject to the earlier conversion of a Company Loan into a Capital Contribution pursuant to Section 3.3(c), each Company Loan shall have an initial term ending on the applicable First Anniversary Date (and no pri...
Company Loan. The purchase price shall be funded by a loan from the ------------ Company to the Employee in substantially the same form as attached hereto. Employee's obligation under the loan shall be secured by the shares purchased under this Agreement. The stock shall be held in custody by the Company or an agent for the Company until the loan has been repaid. The Employee shall deliver a signed, blank stock power to the Company relating thereto.
Company Loan. (a) Subject to the provisions of subparagraph (b) below, upon request of Optionee made at least three (3) business days prior to the intended exercise date, the Company may (on such exercise date) loan to Optionee an amount equal to the excess of the aggregate option price of the Common Stock which Optionee is then electing to purchase pursuant to the exercise of this Option, or any part hereof, over the aggregate par value of such Common Stock, less any other consideration delivered by Optionee upon such exercise, provided that Optionee shall execute a promissory note for such amount, payable to the order of the Company, in such form as is in accordance with the provisions of the Plan and as is otherwise satisfactory to the Committee.
Company Loan. The Company shall, on the Closing Date (as such term is defined in the Stock Purchase Agreement), loan Executive two million dollars ($2,000,000) (the "Executive Loan"). The Executive Loan shall be unsecured and shall bear interest at a rate set forth in the Note (as defined below). The Executive Loan shall be evidenced by a promissory note (the "Note") executed by Executive in favor of the Company in substantially the form attached hereto as Exhibit C. The outstanding balance of the Executive Loan, if any, and any accrued interest thereon shall be repaid no later than the date which is thirty (30) days following the date of the fifth anniversary from the Closing Date (as such term is defined in the Stock Purchase Agreement). Notwithstanding the foregoing, the outstanding balance of the Executive Loan, if any, and any accrued interest thereon shall automatically be forgiven, and Executive shall have no payment obligation with respect thereto, upon the occurrence of any of the following events:
Company Loan. During the Term, upon the written request of Executive, the Company shall disburse to Executive at any time a loan in an amount of up to $500,000. The loan shall be subject to the following terms and conditions:
Company Loan. The Settlement Agreement shall remain in full force and effect and all conditions to the settlement of the Company Loan except for completion of the Arrangement shall have been completed or waived.
Company Loan. During the Employment Period, upon the written request of Executive, the Company shall disburse to Executive one or more loans in the aggregate amount of $20,000,000, less any loan amounts outstanding pursuant to the 1996 Agreement. Each of such loans shall be on a revolving principal basis subject to the following terms and conditions:
Company Loan. Mattel will provide to Executive a loan in the principal amount of $1,000,000, which loan shall be due and payable three years from the date said loan is made, with interest to accrue annually at Libor plus 25 basis points (.25%) and payable upon maturity; provided that, if Executive's employment is terminated for "Cause" (as defined in Section 4(b)) by Mattel, the loan shall become due and payable, including interest accrued, ninety (90) days after such termination date; provided further that, if Executive's employment is terminated for reasons other than "Cause" by Mattel, for "Good Reason" by the Executive, or in connection with a "Change of Control" (as such terms are hereinafter defined), the principal amount of the loan and all accrued unpaid interest shall be forgiven and forever canceled. Further, the Company reserves the right to extend the term of the loan for an additional period of time, on or before the scheduled date of maturity, and in conjunction with the advent of such an extension, the Company may, in its sole discretion, modify the particulars of the loan to preserve the intent and purpose of its interest therein.
