Old Note definition

Old Note has the meaning provided in Section 13(b).

Old Note means that certain promissory note, dated as of July 24, 2006, in the original principal amount of $3,300,000, executed by the Company in favor of the Purchaser and issued pursuant to that certain Note Purchase Agreement, dated as of February 10, 2006, as amended by that certain First Amendment to Note Purchase Agreement, dated as of July 24, 2006, by and between the Company and the Purchaser.

Old Note has the meaning set forth in Section 3.04(b) of the Loan Agreement.

Examples of Old Note in a sentence

• If less than the entire principal amount of any Old Note evidenced by a submitted certificate or by a Book-Entry Confirmation is tendered, the tendering holder must fill in the principal amount tendered in the fourth column of Box 1 above.

• If this Letter of Transmittal (or facsimile hereof) is signed by the registered Holder(s) of Old Notes tendered and the certificate(s) for New Notes issued in exchange therefor is to be issued (or any untendered principal amount of Old Notes is to be reissued) to the registered Holder, such Holder need not and should not endorse any tendered Old Note, nor provide a separate bond power.

• A newly issued Old Note for the principal amount of Old Notes submitted but not tendered will be sent to such Holder as soon as practicable after the Expiration Date.

• If this Letter of Transmittal (or facsimile hereof) is signed by the registered holder(s) of the Old Notes tendered hereby, the signature must correspond with the name(s) as written on the face of the Old Note without alteration, enlargement or any change whatsoever.

• The Company's interpretation of the terms and conditions of tender as to any particular Old Note either before or after the Expiration Date, including this Letter and the instructions to it, will be final and binding on all parties.

More Definitions of Old Note

Old Note has the meaning set forth in the Recitals.

Old Note less: (i) any trade- in value or resale proceeds received by Lender for the Removed Collateral and (ii) a credit for Note payments already made (the total Old Note payments attributable to the removed Collateral multiplied by the "Allowance Factor" indicated in the table below). In no event shall the principal amount of the New Note be less than original principal amount of the Old Note. =============================================================================== Removal Date Allowance Factor =============================================================================== After 12 Months of Old Note 55% ------------------------------------------------------------------------------- After 24 Months of Old Note 60% ------------------------------------------------------------------------------- After 36 Months of Old Note 65% ===============================================================================

Old Note has the meaning specified in Section 2.01.

Old Note less: (i) any trade-in value or resale proceeds received by Lender for the Removed Collateral and (ii) a

Old Note. If any Collateral remains on the Old Note, the monthly payment amount for the Old Note will be reduced in proportion to the Removed Collateral's value.

Old Note shall have the meaning ascribed to such term in the forepart of this Agreement.

Old Note means the Borrower's revolving promissory note dated as of September 3, 1999, payable to the order of the Lender in the original principal amount of $1,500,000.