{"id":41223,"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-sagent-technology-paul-wray-and-lila-wray.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"promissory-note-sagent-technology-paul-wray-and-lila-wray","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/finance\/promissory-note-sagent-technology-paul-wray-and-lila-wray.html","title":{"rendered":"Promissory Note &#8211; Sagent Technology, Paul Wray and Lila Wray"},"content":{"rendered":"<pre>                                PROMISSORY NOTE\n\nPrincipal amount: US$138,000                       Date: October 4, 2000\n\n\nOn or before March 27, 2001, for value received, the undersigned (\"Maker\")\npromise(s) to pay to Sagent Technology, Inc. (\"Payee\"), or order, at such place\nas the holder of this Note (\"Holder\") may from time to time designate in\nwriting, the principal sum of $138,000 with simple interest on the unpaid\nprincipal balance of this Note, from the date of this Note until this Note is\npaid in full, at the rate of 5% percent per year. All payments shall be made in\nlawful money of the United States, without offset, deduction, or counterclaim of\nany kind. This note may be prepaid, without penalty.\n\nAfter maturity, the unpaid principle balance of this Note (together with any\nother amounts due and payable under this Note) shall bear interest at the lower\nof eighteen percent or the highest amount permitted by law. As used in this\nNote, \"Maturity\" means (1) the date on which this Note is due and payable in\nfull or extended or (2) an Event of Default, followed by acceleration of the\nbalance due under this Note. Maker may prepay this Note without penalty. All\nsums remaining unpaid under this Note shall become immediately due and payable,\nat Holder's option, without notice, demand, or presentment, and regardless of\nany prior forbearance, on the occurrence of any of the following events (\"Event\nof Default\"):\n\n        (a) Maker's failure to make any payment when due, including without\nlimitation the final payment due under this Note at its maturity;\n        (b) the filing of a petition in bankruptcy by, or the initiation of any\nproceeding under any bankruptcy or insolvency laws against, the Maker; and\n        (c) The making of a general assignment for the benefit of creditors by\nMaker.\n        (d) an event of Default under the Pledge Agreement.\n\n        In the Event of Default, Holder may exercise all right and remedies\nunder the Laws of the State of California. No delay or omission by Holder in\nexercising any right or remedy under this Note shall operate as a waiver of the\nfuture exercise of that right or remedy or of any other rights or remedies under\nthis Note. All rights of Holder stated in this Note are cumulative and in\naddition to all other rights provided by law, in equity, or in any agreement\nexecuted in connection with this Note. This note is made with full recourse. In\nthe event the sale of any security or stock does not satisfy the obligations\nunder this note, Maker shall be liable for any and all deficiency.\n\n        Maker and Holder intend to comply with all applicable usury laws. In\nfulfilling this intention, all agreements between Maker and Holder are expressly\nlimited so that the amount of interest paid or agreed to be paid to Holder for\nthe use, forbearance, or detention of money under this Note shall not exceed the\nmaximum amount permissible under applicable law. If for any reason payment of\nany amount required under this Note shall be prohibited by law, the obligation\nshall be reduced to the maximum allowed by law. If for any reason Holder\nreceives as interest an amount that would exceed the highest\n\n   2\n\nlawful rate, the amount that would be excessive interest shall be applied to the\nreduction of the principal of this Note and not to the payment of interest. If\nany conflict arises between this provision and any provision of any other\nagreement between Maker and Holder, this provision shall control. Diligence,\ndemand, presentment, notice of dishonor, and protest are waived by all makers,\nsureties, guarantors, and indorser of this Note. Any action to enforce this Note\nshall be brought in Santa Clara County California. Maker agrees to pay Holder it\nattorney's fees for enforcing this Note.\n\n        Dated:\n        \/s\/ Paul Wray\n        --------------------------------------------\n        Paul Wray\n\n        \/s\/ Lila  Wray\n        --------------------------------------------\n        Lila  Wray\n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8746],"corporate_contracts_industries":[9513],"corporate_contracts_types":[9560,9567],"class_list":["post-41223","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-sagent-technology-inc","corporate_contracts_industries-technology__software","corporate_contracts_types-finance","corporate_contracts_types-finance__loan"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/41223","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=41223"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=41223"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=41223"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=41223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}