The Promise to Pay Sample Clauses

The Promise to Pay clause establishes a party’s obligation to pay a specified amount of money under the terms of an agreement. Typically, this clause identifies who is responsible for payment, the amount due, and the timing or schedule for making payments, such as in loan agreements or service contracts. By clearly outlining the payment commitment, this clause ensures both parties understand their financial responsibilities, reducing the risk of disputes over payment and providing a legal basis for enforcement if payment is not made.
The Promise to Pay. For value received, including without limitation, Loan A made by Lender to Borrower pursuant to the Loan Agreement, Borrower hereby promises to pay to the order of Lender the principal amount of $8,000,000, or so much thereof as may be advanced under the Loan Agreement, together with interest accrued on the principal amount from time to time outstanding at the Fixed Rate set forth in the Loan Agreement. Payments of interest and principal under this Note shall be made in lawful money of the United States of America and shall be due on each Scheduled Payment Date in the amount or amounts provided under the Loan Agreement and the entire principal balance of the Loan, all Accrued Interest and all other Indebtedness shall be due and payable on the applicable Maturity Date for Loan A under the Loan Agreement. For reference purposes only the Maturity Date for this Note is January 31, 2012.
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The Promise to Pay. For value received, including without limitation, the Loan made by Lender to Borrower pursuant to the Loan Agreement, Borrower hereby promises to pay to the order of Lender the principal amount of Seventy-Five Million and 00/100 Dollars ($75,000,000.00), or so much thereof as may be advanced under the Loan Agreement, together with interest due on the principal amount from time to time outstanding at the Interest Rate set forth in the Loan Agreement. Payments of interest and principal under this Note shall be due on each Scheduled Payment Date without deduction, setoff or counterclaim, in the amount provided under the Loan Agreement and the entire principal balance of the Loan, including all interest then due, shall be due and payable on the Maturity Date.
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The Promise to Pay. For value received, including without limitation, the Loan made by Lender to Borrower pursuant to the Loan Agreement, Borrower hereby promises to pay to the order of Lender the principal amount of $ , or so much thereof as may be advanced under the Loan Agreement, together with interest accrued on the principal amount from time to time outstanding at the Interest Rate set forth in the Loan Agreement plus Lender’s Pro Rata Share of the Exit Fee, the Amortization Conversion Fee (if not yet paid) and the Minimum Interest Lookback Amount (if any). Payments of interest and principal under this Note shall be in lawful money of the United States of America and shall be due on each Scheduled Payment Date in the amount or amounts provided under the Loan Agreement and the entire principal balance of the Loan, all Accrued Interest and Lender’s Pro Rata Share of the Exit Fee, the Amortization Conversion Fee (if not yet paid) and the Minimum Interest Lookback Amount (if any) and all other Indebtedness, shall be due and payable on the Maturity Date.
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The Promise to Pay. Borrower hereby promises to pay to the order of Lender the principal amount of One Million Dollars ($1,000,000) in lawful money of the United States of America with interest on the unpaid balance thereof computed on the basis of the actual number of days elapsed in a year of 360 days, from the date hereof at the rate of eight percent (8%) interest per annum until paid on the terms and conditions set forth herein.
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Related to The Promise to Pay

  • Promise to Pay Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit Extensions and accrued and unpaid interest thereon as and when due in accordance with this Agreement.

  • Compromise Payment As to any matter disposed of (whether by a compromise payment, pursuant to a consent decree or otherwise) without an adjudication in a decision on the merits by a court, or by any other body before which the proceeding was brought, that such Covered Person either (a) did not act in good faith in the reasonable belief that such Covered Person's action was in the best interests of the Trust or (b) is liable to the Trust or its Shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Covered Person's office, indemnification shall be provided if (a) approved as in the best interest of the Trust, after notice that it involves such indemnification, by at least a majority of the Trustees who are disinterested persons and are not Interested Persons (provided that a majority of such Trustees then in office act on the matter), upon a determination, based upon a review of readily available facts (but not a full trial-type inquiry) that such Covered Person acted in good faith in the reasonable belief that such Covered Person's action was in the best interests of the Trust and is not liable to the Trust or its Shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Covered Person's office, or (b) there has been obtained an opinion in writing of independent legal counsel, based upon a review of readily available facts (but not a full trial-type inquiry) to the effect that such Covered Person appears to have acted in good faith in the reasonable belief that such Covered Person's action was in the best interests of the Trust and that such indemnification would not protect such Covered Person against any liability to the Trust to which such Covered Person would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office. Any approval pursuant to this Section shall not prevent the recovery from any Covered Person of any amount paid to such Covered Person in accordance with this Section as indemnification if such Covered Person is subsequently adjudicated by a court of competent jurisdiction not to have acted in good faith in the reasonable belief that such Covered Person's action was in the best interests of the Trust or to have been liable to the Trust or its shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Covered Person's office.

  • Payment of Costs and Legal Fees and Reinstatement of Benefits In the event any dispute or controversy arising under or in connection with the Executive’s termination is resolved in favor of the Executive, whether by judgment, arbitration or settlement, the Executive shall be entitled to the payment of (a) all legal fees incurred by the Executive in resolving such dispute or controversy, and (b) any back-pay, including Base Salary, bonuses and any other cash compensation, fringe benefits and any compensation and benefits due to the Executive under this Agreement.

  • Payment of Fees and Expenses Borrower shall have paid to Lender all fees, charges, and other expenses which are then due and payable as specified in this Agreement or any Related Document.

  • Reimbursement of Fees and Expenses The Advisor retains its right to receive reimbursement of any excess expense payments paid by it pursuant to this Agreement under the same terms and conditions as it is permitted to receive reimbursement of reductions of its investment management fee under the Investment Advisory Agreement.