New Promissory Note. On the effective date of this Amendment No. 4, Pameco shall execute and delivery to PSC a Promissory Note (the "New Promissory Note") substantially in the form of Annex A hereto, in substitution and exchange for, but not in payment of, that certain promissory note of Pameco dated April 7, 1998 made in favor of PSC in the principal amount of $60,000,000.
New Promissory Note. As a result of the change in interest rate and the extension of the due date, the Original Note is hereby superseded and replaced by the 12.99% secured and convertible promissory note annexed to this Extension Agreement as Exhibit “A” and hereby incorporated herein by reference (the “New Note”). Simultaneously with the execution of this Agreement, the Lender shall surrender the Original Note to the Company for destruction. Following the execution of this Agreement, the Original Note shall be void and of no further force or effect.
New Promissory Note. Receipt by the Administrative Agent of any new or amended and restated Notes (to the extent requested by the Lenders) to reflect the revised commitment amounts.
New Promissory Note. On the Seventh Amendment Effective Date, ------------------- the Company shall execute and delivery to the Agent a Promissory Note (the "New --- Promissory Note") substantially in the form of Annex B to this Seventh --------------- Amendment, in substitution and exchange for, but not in payment of, that certain promissory note of the Company made in favor of GE Capital in the principal amount of $70,000,000.
New Promissory Note. On the Tenth Amendment Effective Date, New ------------------- Pameco shall execute and deliver to the Agent a Promissory Note (the "New --- Promissory Note"), substantially in the form of Annex A to this Tenth Amendment, --------------- in substitution and exchange for, but not in payment of, that certain promissory note of the Company made in favor of GE Capital in the principal amount of $100,000.000.00.
New Promissory Note. At or before the execution of this Agreement, the Company shall execute and deliver to Dutchess a signed promissory note (the “New Note”), in the form attached hereto as Exhibit B, in the face amount of $6,254,960, payable as provided therein with interest at the rate of 7% per annum. The New Note shall not provide for any prepayment penalty or premium. The New Note shall supercede all prior evidences of indebtedness of the Company to Dutchess, including all of the convertible debentures listed in the Loan Documents, except in the event of default as set forth in section 12, below, or as set forth in section 2, below. The Company’s satisfaction of the terms of the New Note, shall constitute a full and complete accord and satisfaction of all of the debts of the Company to Dutchess, other than any obligations owed to Dutchess in connection with the Bank Debts.
New Promissory Note. Secured Party agrees to make a new loan to Debtor in the sum of Four Million Dollars ($4,000,000.00) to be evidenced by a Negotiable Promissory Note in the form and content as set forth in Exhibit "C" attached hereto ("New Promissory Note").
New Promissory Note. Duly and punctually pay or cause to be paid the principal and interest on the New Promissory Note on the date, in the places and in the manner set forth therein, and perform and observe all other obligations of Debtor under the Initial Loans, Airplane Leases, this Agreement, the Pledge Agreement and the Security Agreement.
New Promissory Note. In the event less than all of the remaining balance of this Note is converted, Company shall promptly issue to the Holder a similar promissory note representing the outstanding balance of this Note.
New Promissory Note. In the event (i) OmniComm does not pay the Pledge Fee to Pledgor pursuant to Section 1 herein, or (ii) a Reimbursable Event occurs, Pledgor and OmniComm agree that OmniComm shall immediately issue a promissory note in favor of Pledgor in the principal amount equal to the value of the Collateral foreclosed and/or the unpaid Pledge Fee, which promissory note shall bear Interest at the then current promissory note rate, and have the same Maturity Date, as provided in the Line of Credit. Exhibit 10.88
