Common use of The Promise to Pay Clause in Contracts

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.

Appears in 1 contract

Sources: Loan Agreement (Gc Net Lease Reit, Inc.)

The Promise to Pay. For value received, including without limitation, Loan A B made by Lender to Borrower pursuant to the Loan Agreement, Borrower hereby promises to pay to the order of Lender the principal amount of $8,000,0005,000,000, 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 Adjusted Prime 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 B under the Loan Agreement. For reference purposes only the Maturity Date for this Note is January 3129, 20122010.

Appears in 1 contract

Sources: Loan Agreement (Gc Net Lease Reit, Inc.)