Common use of Note Repayment Clause in Contracts

Note Repayment. Within seven days of the Closing, Company shall repay the indebtedness plus all accrued interest owed to Purchaser by Company in the original principal amount of $500,000 and by LinuxMall, Inc. in the original principal amount of $500,000. Purchaser agrees to extend the term of payment of each note representing such indebtedness to the date seven days from the Closing.