Purchase Note definition

Purchase Note means the promissory note substantially in the form of Exhibit A hereto subject to the terms and conditions set forth in this Agreement.

Purchase Note has the meaning set forth in Section 2.1.

Purchase Note means a full recourse promissory note including the terms set forth in Section 7(a).

Examples of Purchase Note in a sentence

• This Agreement and the Purchase Note shall be governed by and construed and interpreted in accordance with the laws of the State of Maryland, without regard to its conflict of laws principles.

• The Purchase Note shall be secured by the Collateral as provided in this Section 5.3.

• The Purchase Note shall have the terms and conditions as set forth in this Section 5.

• If an Event of Default shall occur, the unpaid balance of the Purchase Note and interest accrued thereon and all other liabilities of the Optionee to the Company hereunder and thereunder shall be immediately due and payable, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived.

• The Aggregate Purchase Price shall be payable by the cash payment to the Company of the aggregate par value of the Exercise Shares and by the delivery of the Purchase Note for the balance of the Aggregate Purchase Price (the "Net Aggregate Purchase Price").

More Definitions of Purchase Note

Purchase Note means a full recourse promissory note with respect to the Purchase Loan in substantially the same form as set forth on Exhibit A.

Purchase Note has the meaning set forth in (S) 2.5.

Purchase Note means the Purchase Note referenced in the Purchase and Sale Agreement.

Purchase Note has the meaning ascribed in Section 2.3(a)(ii);

Purchase Note shall have the meaning set forth in Section 3.1.2.

Purchase Note means a 4% $4,000,000 secured promissory note of the Company, dated August __, 2015 payable to Xxxxxxxx in consideration and payment for the Company’s redemption and repurchase of ________ shares of Company Common Stock, representing 100% of the shares of Company Common Stock formerly owned of record and beneficially by Xxxxxxxx (the “Xxxxxxxx Shares”), a true copy of which Purchase Note has been made available to the Parent. As used in this Agreement, the term “Pledge Agreement” shall mean the pledge agreement, dated August __, 2015 between the Company, as xxxxxxx, and Xxxxxxxx, as pledgee, pursuant to which the Company pleged the Xxxxxxxx Shares to secure payment in full of the Purchase Note; a true copy of which Pledge Agreement has been made available to the Parent.

Purchase Note means the promissory note or notes constituting the permanent financing by the Company of the purchase of the Drillship, such note or notes not to have a term greater than five years from delivery of the Drillship by the Builder, or to be in a principal amount to exceed eighty percent (80%) of the acquisition cost of the Drillship, without the prior written approval of the Members (such financing to be on a basis of recourse limited to the Drillship, her earnings and insurances); Conoco or an Affiliate has the option to provide such permanent financing for the Company provided: (i) the interest rate is no greater than 25 basis points in excess of that interest rate and on such other terms as are comparable to any other permanent financing available to the Company, and (ii) such option is exercised in writing by Conoco to the Company no later than ninety (90) days prior to the scheduled delivery of the Drillship by the Builder to the Company .