The following examples illustrate the merits of issuing a promissory
note for a nonparticipant spouse's community property share of a participant spouse's pension:
1 million in connection with the beneficial conversion feature of its 10% convertible promissory
notes which were issued during the quarter with an aggregate face value of $8,015,000.
2043(b) should not apply to a promissory
note exchanged for a community property interest in a participant's pension plan.
The acquisition of MSAI was also completed in accordance with the Stock Purchase Agreement dated June 20, 2006 for an aggregate amount of $27,000,000, consisting of a cash component of $16,200,000 with a $2 million initial payment and a seller note for $11,300,000 due September 30th, 2006; the Company has the right to two 30 day extensions of the due date of the Promissory
Because the trust is not treated as an entity separate from the grantor, the grantor does not recognize income on the interest payments on the promissory
note received from the trust.
The husband, as trustee, would cause the GRATs to borrow the funds and execute promissory
notes for each GRAT in favor of the donors.
Subsequent to the conversion of the convertible promissory
notes, the Emalfarb Trust owns 5,822,125 shares and the Francisco Trust owns 4,769,578 shares, representing 24.
notes were issued for the transactions between S2 and the taxpayer and between the taxpayer and S3.
AMEX:AKN) today announced the conversion of two convertible promissory
notes with an aggregate principal balance of $5.
0 million to be paid to Mace in the form of a three-year promissory
note bearing 7.
12 per share and the issuance of a promissory
note in the amount of $14,810,000.
note bears interest at a fixed rate of 5.