{"id":40305,"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-whittle-communications-lp-and-benno-c-schmidt.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"promissory-note-whittle-communications-lp-and-benno-c-schmidt","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/promissory-note-whittle-communications-lp-and-benno-c-schmidt.html","title":{"rendered":"Promissory Note &#8211; Whittle Communications LP and Benno C. Schmidt Jr."},"content":{"rendered":"<pre>\n                                 PROMISSORY NOTE\n\n\n$1,699,000                                          Dated: June 5, 1992\n                                                           -------------------\n                                                            \n\n         FOR VALUE RECEIVED, the undersigned hereby promises to pay to Whittle\nCommunications L.P. ('WCLP') at its offices at 333 Main Avenue, Knoxville,\nTennessee 37902, or, if WCLP assigns this note, to Whittle Schools L.P. ('WSLP')\nat its offices at 333 Main Avenue, Knoxville, Tennessee 37902, the principal\namount of $1,600,000 on the fifth anniversary of the date hereof, or, if the\nundersigned's employment with WSLP earlier ceases for any reason, on the date of\ncessation and, on each anniversary of the date hereof, or from the next\npreceding date through which interest on the principal amount hereof shall have\nbeen paid, such interest to be at the annual mid-term Applicable Federal Rate,\nas at the date first above written, for the purposes of Section 7872 of the\nInternal Revenue Code.\n\n         This note is not assignable except that WCLP may assign this note to\nWSLP. \n\n         IN WITNESS WHEREOF the undersigned has hereunto set his hand as of the\ndate first above written.\n\n\n\n                                                     \/s\/ Benno C. Schmidt, Jr.\n                                                     -------------------------\n                                                     Benno C. Schmidt, Jr.\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-40305","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\/40305","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=40305"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40305"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40305"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}