Examples of A-1 Term Note in a sentence
The Class A-1 Term Note and Class A-2 Term Note provide for minimum required levels of amortization, and were due in June 2009.
With the amendments to this facility, the Company prepaid a portion of the outstanding notes, reducing the outstanding principal balance to $70 million, and the notes were re-designated as (i) a $10 million Class A-1 Term Note, and (ii) a $60 million Class A-2 Term Note.
The Class A-2 Note was to be due on July 10, 2009.With the amendments to this facility, the Company prepaid a portion of the outstanding notes, reducing the outstanding principal balance to $70 million, and the notes were re-designated as (i) a $10 million Class A-1 Term Note, and (ii) a $60 million Class A-2 Term Note.
This Tranche A-1 Term Note shall be governed by and construed in accordance with the internal laws and judicial decisions of the State of North Carolina.
In the event this Tranche A-1 Term Note is not paid when due at any stated or accelerated maturity, the Borrower agrees to pay, in addition to the principal and interest, all costs of collection, including reasonable attorneys' fees.
The Borrower also unconditionally promises to pay interest on the aggregate unpaid principal amount of this Tranche A-1 Term Note at the rates applicable thereto from time to time as provided in the Credit Agreement.
The Borrower makes the following waiver knowingly, voluntarily, and intentionally, and understands that the Agent and the Lender, in the establishment and maintenance of their respective relationship with the Borrower contemplated by this Tranche A-1 Term Note, are each relying thereon.
The note rate for the Class A-1 Term Notes and each interest period will be a floating rate equal to the least of: o LIBOR plus ____% per annum (or, on any payment date on which the aggregate Class A-1 Term Note balance is less than 10% of the initial aggregate Class A-1 Term Note balance, LIBOR plus ____% per annum); o the applicable Net Loan Rate; and o [ ]% per annum.
Each reference in this Tranche A-1 Term Note to the Borrower, any endorser, and any guarantor, is to such Person individually and also to all such Persons jointly.
In the event of an acceleration of the maturity of this Tranche A-1 Term Note, this Tranche A-1 Term Note shall become immediately due and payable, without presentation, demand, protest or notice of any kind, all of which are hereby waived by the Borrower.