Examples of Escrow Note in a sentence
The Purchaser shall have the right to prepay at any time, without premium, all or any portion of the principal indebtedness evidenced by the Escrow Note, together with accrued interest on the principal so prepaid to the date of such prepayment.
In plain terms, this amendment effectively shortened the life of both the Escrow Note and the Tax Receivable Note from one year to three months.
But, in repaying the Escrow Note, ION had to comply with the terms of its other credit agreements.
The principal amount of the Escrow Note shall be reduced by $2.00 for each $1.00 so deposited into the Deposit Account by the Purchaser.
Although the terms of the Escrow Note and the Tax Receivable Note contemplated a one-year maturity date, the amended Senior Credit Facility imposed a separate, independent requirement that both Notes be paid back in three months.