Terms of the Note Clause Samples

Terms of the Note. The terms and conditions of the Note are set forth in the form of Note attached as Exhibit A hereto. Capitalized terms not otherwise defined herein shall have the meaning set forth in the Note.

Terms of the Note. The Note shall be payable in a single installment of principal due ninety days from the Closing Date. Interest on the Note shall accrue at the lowest rate necessary to avoid the imputation of interest under the Code.

Terms of the Note. 2.1 Beginning on the date this Note is issued, this Note shall bear interest at the noncompounded rate of ten percent (10%) per annum on the outstanding principal balance hereof. The Company shall pay all accrued interest thereon on a semi-annual basis, such payments to be made on March 31 and September 30 of each year (each an “Interest Payment Date”) until the earlier of (a) such time as the principal balance of the Note shall be paid in full or (b) the conversion of this Note pursuant to Section 6 hereof. Interest will be computed on the basis of a year of 365 days for the number of days actually elapsed. The Holder may elect, upon written notice to the Company provided at least 30 days prior to each Interest Payment Date, to waive the payment of accrued interest in cash and, instead, to add such accrued interest to the outstanding principal balance of this Note. Each such increase in the outstanding principal balance of this Note shall be effective as of the applicable Interest Payment Date and shall accrue interest pursuant to this Section 2.1. In the absence of a valid election by the Holder, accrued interest will be payable in cash. 2.2 The then outstanding principal balance of this Note, together with any accrued but unpaid interest thereon, shall be payable in full on the Maturity Date. 2.3 If any payment becomes due and payable under this Note on a Saturday, Sunday or legal holiday, the maturity thereof shall be extended to the next succeeding business day. 2.4 The entire outstanding principal balance of this Note, together with all accrued but unpaid interest thereon, shall become due and payable upon the consummation of either (a) a reorganization, merger or consolidation of the Company (any of the foregoing, a “Merger”), in each case, with respect to which all or substantially all of the individuals and entities who were the beneficial owners of the outstanding Common Stock immediately prior to such Merger do not, following such Merger, beneficially own, directly or indirectly, more than 50% of the then outstanding shares of voting stock of the corporation resulting from the Merger, or (b) the sale or other disposition of all or substantially all of the assets of the Company, excluding a sale or other disposition of assets to a subsidiary of the Company. For purposes of the foregoing, in no event shall the sale or other disposition of all or any portion of the Company’s Green Tech Products business (whether by merger, sale of stock, sale of as...

Terms of the Note. The terms and conditions of the Note are set forth in the form of Note attached as Appendix B hereto.

Terms of the Note. The terms and conditions of the Note are set forth in the Note.

Terms of the Note. The terms and conditions of the Note are set forth in the form of Note attached hereto as Exhibit A. As set forth in the Note, the Note may be converted into shares of Company Common Stock (“Conversion Shares”) in the event it is not repaid by its maturity date.

Terms of the Note. The Note is convertible at $0.20 per share into shares of the Company’s Common Stock at the discretion of the Investor. The Note also automatically converts upon certain trigger events which are described in the Note. The Note is due two years from the date of investment and pays 5% per annum interest. A copy of the Note is attached as Exhibit A to the Term Sheet.

Terms of the Note. The Note shall (i) bear interest at the rate of ----------------- ten percent (10%) simple interest per annum, payable quarterly; (ii) be payable interest only for the first year; (iii) be payable thereafter in eight (8) equal quarterly payments of principal and interest; (iv) be prepayable in whole or in part at any time without penalty; (v) be secured by those certain purchase-money notes, from certain franchisees to Paradise, which are listed on Schedule 2(e) to this Agreement (the "Franchisee Notes"); (vi) require, to the extent that Java or Paradise receives any cash principal payment on any of the Franchisee Notes, a mandatory prepayment of a like amount of principal on the Note within ten (10) business days after such receipt; (vii) require that if, during the term of the Note, either Java or Paradise acquires any Paradise franchisee that is an obligor on a Franchisee Note, including without limitation Founders Venture, Inc. or Venture 88, Inc., Paradise shall make mandatory principal prepayments on the Note in the same amounts and on the same payment dates as such franchisee would have had to make principal payments to Paradise on its Franchisee Note and (viii) have its principal balance reduced on a dollar-for- dollar basis for any principal payments on the Franchisee Notes received by Paradise prior to the Closing Date that bring the Franchisee Notes below $1,250,000.

Terms of the Note. The Note shall have the terms (including with respect to payment of principal and interest), rights and remedies as provided in the Indenture and Credit Agreement.