Pay Proceeds Letter means (i) in respect of the Original Subordinated Note, that certain Pay Proceeds Letter, dated the Original Closing Date, executed by the Company and addressed to the Purchaser, (ii) in respect of the Second Subordinated Note, that certain Second Pay Proceeds Letter, dated the Second Closing Date, executed by the Company and addressed to the Purchaser, and (iii) in respect of the Third Subordinated Note, that certain Pay Proceeds Letter, dated as of the Third Closing Date, executed by the Company and addressed to the Purchaser.

Pay Proceeds Letter means that certain Pay Proceeds Letter, dated the Closing Date, executed by the Company and addressed to the Purchaser.

Pay Proceeds Letter shall have the meaning assigned to it in Section 1.02(d) hereof.

Examples of Pay Proceeds Letter in a sentence

Subject to the conditions as provided below in this Section and to the satisfaction of all conditions precedent set forth in Sections 5.1 and 5.2 hereof, at the Closing the Purchaser shall pay the Purchase Price by wire transfer (or by credit, in the case of any proceeds of the Purchase Price to be applied by the Company to satisfy certain payment obligations owing by the Company to the Purchaser) pursuant to the instructions of the Company as set forth in the Pay Proceeds Letter.
Debtor and Secured party acknowledge, agree and consent that the Pay Proceeds Letter dated December 18, 2003 associated with the Promissory Note dated December 23, 2003 is hereby amended as follows: $162,720.95 To: GenPath Pharmaceuticals, Inc.
The obligation of each of the Lenders to make its Loan shall be subject to fulfillment of the following conditions precedent on or prior to the Closing Date in form and substance satisfactory to the Administrative Agent and its counsel: (a) The Borrower shall have delivered to the Administrative Agent the Notice of Borrowing along with the Pay Proceeds Letter.

More Definitions of Pay Proceeds Letter

Pay Proceeds Letter means (i) in respect of the Original Senior Note, that certain Pay Proceeds Letter, dated the Original Closing Date, executed by the Company and addressed to the Purchaser, and (ii) in respect of the New Senior Note, the Second Pay Proceeds Letter.

Pay Proceeds Letter means, collectively or individually, as the context may require (a) that certain Pay Proceeds Letter, dated the Original Closing Date, executed by the Company and addressed to the Purchaser, (b) the Second Pay Proceeds Letter, and (c) the New Pay Proceeds Letter.

Pay Proceeds Letter has the meaning specified in Section 3.01(R) hereof.

Pay Proceeds Letter has the meaning assigned to it in Section 2.2.

Pay Proceeds Letter means that certain letter, dated as of even date herewith, executed by the Company in favor of the Agent pursuant to which the Company authorizes and directs the Agent to disburse the proceeds of the initial borrowing of the Loans.

Pay Proceeds Letter is defined in Section 5.1.

Pay Proceeds Letter means (i) in respect of the Original Subordinated Note, that certain Pay Proceeds Letter, dated the Original Closing Date, executed by the Company and addressed to the Purchaser, (ii) in respect of the Second Subordinated Note, that certain Second Pay Proceeds Letter, dated the Second Closing Date, executed by the Company and addressed to the Purchaser, (iii) in respect of the Third Subordinated Note, that certain Pay Proceeds Letter, dated as of the Third Closing Date, executed by the Company and addressed to the Purchaser, and (iv) in respect of the Fourth Subordinated Note, that certain Pay Proceeds Letter, dated as of the Fourth Closing Date, executed by the Company and addressed to the Purchaser.