Note Payable definition

Note Payable that certain Note payable to Xxxxxx X. Xxxxxxxx by Com-Net ------------ in an amount equal to $1,144,505.

Note Payable is defined in the recitals.

Note Payable. The undersigned will pay principal and interest by making payments in the initial amount of $10,572.06 on the first day of each month beginning on March 1, 1998. The undersigned will make these payments until they have paid in full all principal and interest and any other sums due hereunder. Notwithstanding the foregoing, the entire indebtedness evidenced by this Note, including, but not limited to, all outstanding principal and accrued and unpaid interest, shall be due and payable in full on the tenth (10) anniversary date of this Note. The undersigned's initial monthly payments shall be calculated in accordance with the full amortization of the loan evidenced by this Note by level monthly payments of principal and interest over a ten (10) year period at the interest rate applicable on the date hereof. On each Adjustment Date (as herein defined), the amount of the monthly payments will be adjusted so as to provide for the full amortization of the then outstanding principal at the interest rate established at each Adjustment Date in level monthly payments of principal and interest over the remaining term of the original ten (10) year amortization period.

Examples of Note Payable in a sentence

• The Seller and the Owner shall have provided payoff letters from the holders of the Seller’s outstanding Indebtedness (including, without limitation, the Seller Note Payable), other than the Assumed Obligations, providing that, upon payment of all the Seller’s outstanding Indebtedness at the Closing, all Liens filed against the Seller and the Seller’s properties shall be terminated.

• Note Payable Avalon New England issued a note payable for $500 which is due on May 29, 2003, and bears interest at a rate of 7% per annum (which approximates Avalon New England's incremental borrowing rate) payable annually.

• NOTE 7--LONG-TERM DEBT Long-term debt consists of the following: 1999 2000 $ -- $1,400,000 13,680 -- ------- ---------- 13,680 1,400,000 4,967 400,000 ------- ---------- $ 8,713 $1,000,000 ======= ========== Note Payable due in twenty-six quarterly payments with the final payment due April 1, 2004, with interest at 7% per annum.....................................................

• Buyer is under no legal disability nor is Buyer subject to any order, which would prevent or interfere with Xxxxx’s execution, delivery and performance of this Subscription Agreement or his or her investment in the Convertible Note Payable.

• Buyer has: (i) adequate means of providing for his or her current financial needs and possible personal contingencies, and no present need for liquidity of the investment in the Convertible Note Payable; and (ii) a liquid net worth (that is, net worth exclusive of a primary residence, the furniture and furnishings thereof, and automobiles) which is sufficient to enable Buyer to hold the Convertible Note Payable for the requisite terms as set forth herein..

More Definitions of Note Payable

Note Payable has the meaning ascribed to such term in §3.1.2(d).

Note Payable has the meaning ascribed to it in Clause 8.1(A).

Note Payable means the promissory note issued in connection with acquisition of MedEval Corp., principal amount of US $2,500,000, which Note Payable was repaid in full in December 2018;

Note Payable shall have the meaning set forth in Section 2.04(a)(iii).

Note Payable has the meaning ascribed to it in Clause ‎3.1(A).

Note Payable means a legally enforceable promise by the Purchaser to the Seller to pay a certain amount of money in United States currency.

Note Payable shall have the meaning assigned thereto in Section 3.2(a) hereof;