{"id":40426,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/secured-promissory-note-global-crossing-development-co-and.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"secured-promissory-note-global-crossing-development-co-and","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/secured-promissory-note-global-crossing-development-co-and.html","title":{"rendered":"Secured Promissory Note &#8211; Global Crossing Development Co. and David Walsh"},"content":{"rendered":"<pre>$1,800,000                                                        March 20, 2001\n\n                             Secured Promissory Note\n\n1. The undersigned hereby agrees to pay to Global Crossing Development Co.\n(\"Employer\"), or order, at 360 N. Crescent Drive, Beverly Hills, California\n90210, or at such other place as the Employer may, from time to time, designate\nin writing, the principal amount of One Million Eight Hundred Thousand Dollars\n($1,800,000).\n\n2. The principal amount and all accrued interest shall be due and payable in\nfull at the earlier of (i) March 21, 2002, or (ii) termination from employment\nwith Employer and its affiliates for any reason (the \"Due Date\").\n\n3.  This   Promissory  Note  shall  bear  interest  at  the  rate  of  four  and\nthree-quarters percent (4.75%) per annum. This Promissory Note may be prepaid in\nwhole or in part at any time.\n\n4. This Promissory Note shall be governed by the laws of the State of New York.\nIn the event of default in the payment of any sums due hereunder, Employer shall\nbe entitled to reimbursement from the undersigned for all costs of collections,\nincluding reasonable attorney's fees and costs. In the event of default in the\npayment of any sums due hereunder, to the extent permitted by law, Employer\nshall have the right to offset sums due hereunder against any other sums which\nmay be owed by Employer to the undersigned.\n\n5. This Secured Promissory Note is secured by a second mortgage on real property\nin favor of Employer.\n\n\/s\/ David Walsh\n-------------------\nDavid Walsh\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7648],"corporate_contracts_industries":[9519],"corporate_contracts_types":[9539,9544],"class_list":["post-40426","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-global-crossing-ltd","corporate_contracts_industries-telecommunications__telephone","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\/40426","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=40426"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40426"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40426"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}