{"id":40299,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/promissory-note-the-edison-project-lp-and-benno-c-schmidt-jr.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"promissory-note-the-edison-project-lp-and-benno-c-schmidt-jr","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/promissory-note-the-edison-project-lp-and-benno-c-schmidt-jr.html","title":{"rendered":"Promissory Note &#8211; The Edison Project LP and Benno C. Schmidt Jr."},"content":{"rendered":"<pre>                                 PROMISSORY NOTE\n\n\n$200,000                                              Dated:    January 23, 1996\n\n         FOR VALUE RECEIVED, the undersigned hereby promises to pay to THE\nEDISON PROJECT L.P. ('Edison') at its offices at 529 Fifth Avenue, 12th Floor,\nNew York, New York, 10017, $200,000 on the earlier of (i) the fifth anniversary\nof the date hereof of (ii) six months from the completion by Edison (or its\nsuccessor) of an initial public offering which raises $30,000,000 and Interest\nshall accrue on each anniversary of the date hereof until this Note is paid in\nfull and shall be payable on the date of payment of this Note, such interest to\nbe at the Prime Rate as publicly announced, by Chase Manhattan Bank, N.A., from\ntime to time, as at the date first above written, for the purposes of Section\n7872 of the Internal Revenue Code.\n\n         This note is not assignable.\n\n         IN WITNESS WHEREOF the undersigned has hereunto get his hand as of the\ndate first above written.\n\n\n                                            \/s\/ Benno C. Schmidt, Jr.\n                                            -------------------------\n                                            Benno C. Schmidt, Jr.\n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7412],"corporate_contracts_industries":[],"corporate_contracts_types":[9539,9544],"class_list":["post-40299","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-edison-schools-inc","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40299"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40299"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40299"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}