Instead of immediately returning the money Sogo had forwarded, Cho-ompa issued a separate note payable
to Sogo in 10 months.
No interest had been recorded on either the short-term or the long-term note payable
. The short-term note is an 8% note that has been outstanding for 6 months, and 3 months' interest has accrued on the long-term note which bears interest at 10%.
In addition to Orinoco's assumption of Maritech's $47M asset retirement obligations, at the closings of the transactions, Tetra will keep the working capital of the businesses being sold and receive approximately $3M in cash for inventory and fuel, and a $7.5M promissory note payable
on December 31, 2019.
Under the terms of the agreement, CT Energy, or one of its affiliates will pay Harvest USD80m, subject to certain adjustments, as well as a USD12m six-month 11% note payable
, among other consideration.
The purchase price consists of USD27 million in cash, a promissory note payable
by S&W to DuPont Pioneer in the initial principal amount of USD10 million, and a potential earn-out payment of up to USD5 million based on sales of products containing the acquired germplasm and Pioneer purchases under distribution and production agreements in the three-year period following the closing.
The purchase price adjustments were paid in cash at closing, and the base purchase price was satisfied by a promissory note payable
in installments over 31 months.
The agreement provides US$ 50 million cash, approximately 7.1 million Harry Winston common shares with a value of approximately US$ 100 million, and a note payable
in the amount of US$ 70 million.
The company will issue a total of 12,500,000 common shares priced at CAD0.02 to 151 Co, as well make a cash payment of CAD33,000 and issue a note payable
for CAD50,000 as a consideration for the acquisition.
A, the owner of a herd of cattle, sells it to partnership BCD, which pays A $10,000 and executes a $30,000 note payable
As part of the transaction, Air Canada will hold a CAD200m note payable
by Aeroplan and Onex will hold a CAD52.5m note from Aeroplan.
On October 15, 1996, the parties converted these loans into a $77,481 note payable
to Combrink and $175,000 of paid-in capital.
If a company converted a short-term note payable
into a long-term note payable
, this transaction would: