The Subordinated Note Sample Clauses

The Subordinated Note. The Facility shall be further evidenced by the Subordinated Note.
Sample 1Sample 2
AutoNDA by SimpleDocs
The Subordinated Note. On the Closing Date, the --------------------- Issuer shall deliver to the Seller the Subordinated Note in the form set forth as Exhibit E. Pursuant to the terms of, and subject to the limitations set forth --------- in, the Subordinated Note, the Issuer will request from the Seller an advance (each, a "Subordinated Loan") on or prior to the Purchase Termination Date for ------------------ the purpose of purchasing Purchased Assets from the Seller hereunder. Pursuant to the terms of the Subordinated Note, the Issuer shall not request or receive any advance thereunder on any date if after giving effect to such advance, the sum of the Subordinated Loans then outstanding and the aggregate Outstanding Amount of all Notes would exceed the Net Eligible Receivables Balance minus the Adjusted Loss Reserve, (such maximum amount required to be advanced at any time, the "Subordinated Note Cap"). The ---------------------- Subordinated Loans shall be evidenced by, and shall be payable in accordance with the terms and provisions of, the Subordinated Note. Notwithstanding any other provision of this Agreement, the Issuer shall not use funds borrowed under the Subordinated Note for any purpose other than paying the Purchase Price for the Purchased Assets.
Sample 1
The Subordinated Note. The Facility shall be further evidenced by the Subordinated Note, to be executed and delivered to Lender by Borrower contemporaneously herewith.
Sample 1
The Subordinated Note. The indebtedness of the Borrower to the Subordinated Lender resulting from Loans made from time to time pursuant to this Agreement shall be evidenced by a Subordinated Note. The Subordinated Lender will note on the grid attached to the Subordinated Note and in its internal records, to the extent applicable, the date and amount of each Loan made hereunder, and the amount of each payment in respect thereof, and prior to any transfer of the Subordinated Note or any portion thereof, will endorse thereon the outstanding principal amount evidenced thereby. Failure to make any such notation shall not affect the Borrower's obligations in respect of the Loans. Absent manifest error, the Subordinated Lender's records or notations on the Subordinated Note as to the outstanding principal amount of the Subordinated Note shall be conclusive.
Sample 1
The Subordinated Note. The Borrower's obligation to repay the Loan with interest as provided herein, shall be evidenced by a note (the "SUBORDINATED NOTE") in the form of [EXHIBIT 2.4], annexed hereto, executed by the Borrower. Neither the original nor a copy of the Subordinated Note shall be required, however, to establish or prove any Liability. In the event that the Subordinated Note is ever lost, mutilated, or destroyed, the Borrower shall execute a replacement thereof and deliver such replacement to the Lender upon receipt of a lost note affidavit and an indemnity reasonably satisfactory to the Borrower.
Sample 1
The Subordinated Note. On and after the Effective Date, any and all references in the Restated Financing Agreement to “Subordinated Note” shall be deemed to refer to “Unsecured Note”.
Sample 1
The Subordinated Note. The Borrower has authorized the issue to the Lender of the Subordinated Note, to be dated as of the date of issue thereof, to mature and to bear interest as provided therein. The Borrower shall repay the outstanding principal balance of the Subordinated Note in full in cash on the “Maturity Date” (as defined in the Subordinated Note), unless accelerated, redeemed or prepaid in accordance the terms thereof.
Sample 1
AutoNDA by SimpleDocs
The Subordinated Note 
Sample 1

Related to The Subordinated Note

  • Subordinated Note At any time, directly or indirectly, pay, prepay, repurchase, redeem, retire or otherwise acquire, or make any payment on account of any principal of, interest on or premium payable in connection with the repayment or redemption of the Subordinated Note, except as expressly permitted in the Subordination Agreement.

  • Senior Subordinated Notes The subordination provisions contained in the Senior Subordinated Notes and in the other Senior Subordinated Note Documents are enforceable against the Borrower and the holders of the Senior Subordinated Notes, and all Obligations are within the definition of "Senior Debt" included in such subordination provisions.

  • Registration of the Notes and Each Note Holder The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”) for the registration and transfer of the Notes. The Agent shall serve as the initial note registrar and the Agent hereby accepts such appointment. The names and addresses of the holders of the Notes and the names and addresses of any transferee of any Note of which the Agent has received notice, in the form of a copy of the assignment and assumption agreement referred to in this Section 15, shall be registered in the Note Register. The Person in whose name a Note is so registered shall be deemed and treated as the sole owner and holder thereof for all purposes of this Agreement. Upon request of a Note Holder, the Agent shall provide such party with the names and addresses of each other Note Holder. To the extent the Trustee or another party is appointed as Agent hereunder, each Note Holder hereby designates such person as its agent under this Section 15 solely for purposes of maintaining the Note Register. In connection with any Transfer of a Note (but excluding any Pledgee unless and until it realizes on its Pledge), a transferee shall execute an assignment and assumption agreement (unless the transferee is a Securitization Trust and the related pooling and servicing agreement requires the parties thereto to comply with this Agreement), whereby such transferee assumes all of the obligations of the applicable Note Holder hereunder with respect to such Note thereafter accruing and agrees to be bound by the terms of this Agreement, including the applicable restriction on Transfers set forth in Section 14, from and after the date of such assignment. No transfer of a Note may be made unless it is registered on the Note Register, and the Agent shall not recognize any attempted or purported transfer of any Note in violation of the provisions of Section 14 and this Section 15. Any such purported transfer shall be absolutely null and void and shall vest no rights in the purported transferee. Each Note Holder desiring to effect such transfer shall, and does hereby agree to, indemnify the Agent and each other Note Holder against any liability that may result if the transfer is not made in accordance with the provisions of this Agreement.

  • Notes Subordinated to Senior Debt The Company covenants and agrees, and each Holder of the Notes, by its acceptance thereof, likewise covenants and agrees, that all Notes shall be issued subject to the provisions of this Article Ten; and each Person holding any Note, whether upon original issue or upon registration of transfer, assignment or exchange thereof, accepts and agrees that the payment of all Obligations on the Notes by the Company shall, to the extent and in the manner herein set forth, be subordinated and junior in right of payment to the prior payment in full in cash or Cash Equivalents of all Obligations on or in respect of Senior Debt; that the subordination is for the benefit of, and shall be enforceable directly by, the holders of Senior Debt, and that each holder of Senior Debt whether now outstanding or hereafter created, incurred, assumed or guaranteed shall be deemed to have acquired Senior Debt in reliance upon the covenants and provisions contained in this Indenture and the Notes.

  • Subordinated Notes The Subordinated Notes have been duly authorized by the Company and when executed by the Company and issued, delivered to and paid for by the Purchasers in accordance with the terms of the Agreement, will have been duly executed, authenticated, issued and delivered, and will constitute legal, valid and binding obligations of the Company and enforceable in accordance with their terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights generally or by general equitable principles.

  • Securities Subordinated to Senior Debt (1) The Partnership, for itself, its successors and assigns, covenants and agrees, and each Holder of Securities, by his acceptance thereof, likewise covenants and agrees, that the payment of the principal of (and premium, if any), and interest on each and all of the Securities is hereby expressly subordinated, to the extent and in the manner hereinafter set forth, in right of payment to the prior payment in full of all Senior Debt of the Partnership.

  • Subordination of Debentures 48 Section 16.1. Agreement to Subordinate........................................48 Section 16.2. Default on Senior Debt, Subordinated Debt or Additional Senior Obligations..................................................49 Section 16.3.

  • Securities Subordinate to Senior Debt The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article XII, the payment of the principal of and any premium and interest (including any Additional Interest) on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt.

  • SUBORDINATION OF NOTES Section 11.01.

  • Payment Subordination (a) Notwithstanding the terms of the Subordinated Debt Documents, until the Senior Discharge Date, (i) all payments and distributions of any kind or character, whether in cash, property or securities, in respect of the Subordinated Debt are subordinated in right and time of payment to all payments in respect of the Senior Debt, and (ii) Subordinated Creditor will not demand, xxx for or receive from Borrower (and Borrower will not pay) any part of the Subordinated Debt, whether by payment, prepayment, distribution, setoff, or otherwise, or accelerate the Subordinated Debt.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!