Loan from the Company Sample Clauses

Loan from the Company. The Company shall finance fifty percent (50%) of the purchase price of the Shares through a loan from the Company. Such loan shall be evidenced by a promissory note (the "Note"), in form and substance acceptable to the Company, which indebtedness shall be a full recourse obligation of the Employee, shall be secured by all of the Shares and shall bear interest at the rate of six and one one-hundredth percent (6.01%) per
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Loan from the Company. You may deem it advisable to pay certain moneys in settlement of disputed claims in connection with a former employment relationship. The Company agrees to make funds available to facilitate such settlement in the form of a loan from the Company to you on terms and conditions to be mutually agreed, but in no event will such loan exceed an aggregate amount of up to $1,440,000. If this loan is made, then on the earlier to occur of (a) a Liquidity Event and (b) the third anniversary of the date hereof, the Company will forgive up to $500,000 of the amount of the loan.
Sample 1
Loan from the Company. The Company shall finance fifty percent (50%) of the purchase price of the Shares through a loan from the Company. Such loan shall be evidenced by a promissory note (the "Note"), in form and substance acceptable to the Company, which indebtedness shall be a full recourse obligation of the Employee, shall be secured by all of the Shares and shall bear interest at the rate of six and one one-hundredth percent (6.01%) per annum. The outstanding principal and accrued interest under the Note will be payable, in one lump-sum payment, on the earlier of (i) November 3, 2002, or (ii) termination of the Employee's employment with the Company; provided, however, that a proportionate amount (equal to the amount by which the number of Shares sold or transferred bears to the total number of Shares purchased) of the outstanding principal and accrued interest under the Note shall be immediately due and payable upon the sale or transfer of any of the Shares.
Sample 1

Related to Loan from the Company

  • Formation of the Company The Company was formed as a limited liability company under the Act on April 24, 2008. The Member hereby agrees that the person executing and filing the Certificate of Formation of the Company was and is an “authorized person” within the meaning of the Act, and that the Certificate of Formation filed by such authorized person is the Certificate of Formation of the Company.

  • Acquisition of the Company Upon the closing of any Acquisition the successor entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for

  • Respective Liabilities of the Depositor and the Servicer The Depositor and the Servicer shall each be liable in accordance herewith only to the extent of the obligations specifically and respectively imposed upon and undertaken by them herein.

  • Obligation of the Company In connection with the registration of the Registrable Securities, the Company shall do each of the following:

  • Respective Liabilities of the Depositor and the Master Servicer The Depositor and the Master Servicer shall each be liable in accordance herewith only to the extent of the obligations specifically and respectively imposed upon and undertaken by them herein.

  • Agreements of the Company The Company agrees with the several Underwriters as follows:

  • Termination of the Company Upon the voluntary termination of the Company upon the consent of the Members, the sale or other transfer of all or substantially all of the Company's assets or any other termination of the Company in accordance with the provisions of this Agreement, the Company shall wind up its affairs and shall then be liquidated as provided in Article 13.

  • Release of the Company Executive, for himself, his successors, assigns, attorneys, and all those entitled to assert his rights, now and forever hereby releases and discharges the Company and its respective officers, directors, stockholders, trustees, employees, agents, parent corporations, subsidiaries, affiliates, estates, successors, assigns and attorneys (the “Released Parties”), from any and all claims, actions, causes of action, sums of money due, suits, debts, liens, covenants, contracts, obligations, costs, expenses, damages, judgments, agreements, promises, demands, claims for attorney’s fees and costs, or liabilities whatsoever, in law or in equity, which Executive ever had or now has against the Released Parties arising by reason of or in any way connected with any employment relationship which existed between the Company or any of its parents, subsidiaries, affiliates, or predecessors, and Executive. It is understood and agreed that this Release is intended to cover all actions, causes of action, claims or demands for any damage, loss or injury arising from the aforesaid employment relationship, or the termination of that relationship, that Executive has, had or purports to have, from the beginning of time to the date of this Release, whether known or unknown, that now exists related to the aforesaid employment relationship including but not limited to claims for employment discrimination under federal or state law, except as provided in Paragraph 2; claims arising under Title VII of the Civil Rights Act, 42 U.S.C. § 2002(e), et seq. or the Americans With Xxxxxxxxxxxx Xxx, 00 X.X.X. § 00000 et seq.; claims for statutory or common law wrongful discharge, including any claims arising under the Fair Labor Standards Act, 29 U.S.C. § 201 et seq.; claims for attorney’s fees, expenses and costs; claims for defamation; claims for wages or vacation pay; claims for benefits, including any claims arising under the Employee Retirement Income Security Act, 29 U.S.C. § 1001, et seq.; and provided, however, that nothing herein shall release the Company of their obligations to Executive under the Employment Agreement or any other contractual obligations between the Company or its affiliates and Executive, or any indemnification obligations to Executive under the Company’s bylaws, articles of incorporation, Florida law or otherwise.

  • Certificate of the Company Parent shall have received certificates from the Company, validly executed by the Chief Executive Officer and Chief Financial Officer of the Company for and on the Company’s behalf, to the effect that, as of the Closing:

  • Respective Liabilities of the Company and the Master Servicer The Company and the Master Servicer shall each be liable in accordance herewith only to the extent of the obligations specifically and respectively imposed upon and undertaken by the Company and the Master Servicer herein. By way of illustration and not limitation, the Company is not liable for the servicing and administration of the Mortgage Loans, nor is it obligated by Section 7.01 or Section 10.01 to assume any obligations of the Master Servicer or to appoint a designee to assume such obligations, nor is it liable for any other obligation hereunder that it may, but is not obligated to, assume unless it elects to assume such obligation in accordance herewith.

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