Operating note definition

Operating note means every undertaking of the state to repay a certain amount of a financial obligation which is:

Operating note means the promissory note evidencing the Minimum Guaranteed Payment Advances under Section 5.3(b) herein and the Working Capital Advances under Section 5.7 herein made by Lakes, substantially in a form to be agreed to by Pawnee and Lakes, together with all amendments, substitutions and renewals thereof.

Operating note has the meaning given in Section 2.7(b).

Examples of Operating note in a sentence

• The Crescent Operating Note possesses a number of attributes weighing in favor of debt treatment.

• Further, it is our opinion that amounts designated as interest by the Crescent Operating Note will be treated as interest for purposes of the 95 percent gross income test of section 856(c).

• For instance, the Crescent Operating Note is clearly denominated as debt, has a fixed maturity date of five years, provides for the return of interest on the principal amount at a rate of 12 percent per annum, and is secured by the Assets.

• Based on the foregoing, it is our opinion that the Crescent Operating Note constitutes debt for federal income tax purposes.

• Characterization of the Crescent Operating Note Debt instruments, especially instruments that are held by persons related to the debtor, may under certain circumstances be characterized for income tax purposes as equity, rather than as debt.

More Definitions of Operating note

Operating note. (t) "Operating Note" shall be deleted in its entirety and the following shall be inserted in its stead:

Operating note means the promissory note hereafter made by Bank to Borrower in the maximum principal amount of Two Million Dollars ($2,000,000.00) and dated June 1, 1995, which matures May 1, 1996. 2. Amendment of Section 2.1 "Operating Loan". Section 2.1 "Operating Loan" shall be deleted in its entirety and the following shall be inserted in its stead:

Operating note. Section 2.2 "Operating Note" shall be deleted in its entirety and the following shall be inserted in its stead:

Operating note means the operating note of the Borrower, in the form attached hereto as Exhibit "G" and incorporated herein by this reference.

Operating note means the promissory note as described in the Management Agreement.

Operating note means the Operating Note, dated the Closing Date, by the Borrower in favor of the Bank evidencing the three hundred sixty four (364) day operating credit facility described in Section 2.06 of this Agreement and in the form as set forth in Exhibit ”G” attached hereto and incorporated herein by this reference and as renewed, modified or extended from time to time in accordance with the terms thereof and hereof.

Operating note means the promissory note hereafter made by Bank to Borrower in the maximum principal amount of $1,100,000.00 and dated February 5, 1994, and which matures on April 1, 1995.