Examples of Laurus Note in a sentence
As of the Closing there shall be no Indebtedness, other than the Laurus Note as set forth in the SEC Reports and accounts payable, trade payables and capital lease obligations incurred in the ordinary course of business.
All capitalized terms used in this Guaranty that are defined in the Laurus Note shall have the meanings assigned to them in the Laurus Note, unless the context of this Guaranty requires otherwise.
The Parties acknowledge and agree that the outstanding amount under the Laurus Note as of December 31, 2016 totals $12,323,072.32, and the current outstanding amount under the 2nd Note as of December 31, 2016 totals $1,500,000.00, resulting in a total amount owned by Borrower (and Guarantor pursuant to the Guaranty Agreement), of $13,823,072.32 (collectively, the “Current Debt”).
Notwithstanding the forgoing or anything to the contrary herein, Guarantor shall not be obligated to pay to Lender or any other Person a total amount in excess of $13,823,072.32, plus interest at the rate specified in the Laurus Note or the 2nd Note, as applicable, through the date of repayment pursuant to this Guaranty.
This Agreement, the Laurus Note and the Guaranty Agreement set forth the entire agreement between the Parties with respect to the subject matter hereof and fully supersedes any prior agreements or understandings between the Parties with respect to the subject matter hereof.
Other than as amended or deemed amended herein, the Laurus Note shall remain in full force and effect.
This Note together with the Laurus Note (collectively, the “Notes”) amend and restate in its entirety, and are given in substitution for but not in satisfaction of, that certain Secured Term Note dated June 19, 2007 executed by the Borrower in favor of Xxxxxx and the Holder (as assignee of Laurus) in the original principal amount of $2,318,180 (as amended, restated, modified and/or supplemented from time to time, the “Prior Note”).
Following closing, each of Laurus and LF may elect to advance additional amounts to Company as provided for in the Laurus Note and LF Note, respectively.
BIO-key shall provide Purchaser Agent with notice of default in the payment of the Laurus Note or the Aether Note or in the performance of any term, covenant or condition contained in the Laurus Note or Aether Note, and BIO-key shall notify Shaar in the event such default is cured or waived.
On the date hereof, Laurus is the current owner and holder of the Laurus Note, and Aether is the current owner and holder of the Aether Note.