Purchaser Note definition

Purchaser Note. As defined in Section 10.02 of the Purchase Agreement.

Purchaser Note means the $99,000,000 principal amount of zero-coupon, convertible, subordinated notes due 2023 issued by the Company.

Purchaser Note has the meaning stated in Section 3.01.

Examples of Purchaser Note in a sentence

• The Master Trust Indenture creates for the benefit of the holders of the Bond Note and the Purchaser Note, the valid binding and irrevocable lien on and pledge of the Trust Estate.

• The Corporation also agrees to execute and deliver on demand such security agreements, financing statements, continuation statements and other documents necessary to perfect a security interest in such property as the Purchaser, the Bond Trustee or the Master Trustee may request in order to impose or continue the lien and security interest created pursuant to the Master Trust Indenture securing the Purchaser Note and the Bond Note.

• The Purchaser acknowledges and agrees that in the event the Bonds are no longer Outstanding, upon (i) payment in full of all Purchaser Obligations, (ii) a transfer of the Bonds to a successor Bondholder in its entirety or (iii) a transfer of a portion of the Bonds to a successor Bondholder (in exchange for one or more Master Notes), the Purchaser will surrender the Purchaser Note to the Master Trustee for termination and cancelation.

• Each of the Bond Note and the Purchaser Note has been duly issued under the Master Trust Indenture, in the case of the Bond Note, evidences and secures the obligations of the Corporation under the Loan Agreement and, in the case of the Purchaser Note, evidences and secures the Purchaser Obligations, and each is on a parity with all outstanding Master Notes issued or incurred thereunder.

• Each Seller shall receive in exchange for its sale, assignment, transfer, conveyance and delivery of the Purchased Assets of such Seller to Purchaser, a number of Class A Common Units representing membership interests in Purchaser and an interest in the Purchaser Note, in each case pro rata based on the Allocated Value of the Purchased Assets sold by such Seller in the Asset Sale or as may be otherwise agreed between the parties prior to the Closing Date.

More Definitions of Purchaser Note

Purchaser Note means that certain promissory note issued under this Plan by the Purchaser to the Liquidating Trustee in the principal amount of $5,500,000, plus interest at the rate of 6% simple interest per annum. The Purchaser Note will be fully amortized over thirty-six (36) months. Payments under the Purchaser Note will (a) begin on the last day of the first full calendar month after the Effective Date and (b) be paid into a segregated account controlled by the Liquidating Trustee and owned by the Liquidating Trust. No Distributions will be made from this segregated account without Order of the Bankruptcy Court. The Purchaser Note will be Collateral for the Allowed Class 2 Claim. In the event that MCA’s Claim is allowed by the Bankruptcy Court in part or in full, the Liquidating Trustee may (i) assign the Purchaser Note to MCA, without representation or warranty, (ii) continue to make payments to the Holders of Allowed Class 2 Claims, or (iii) issue a note to MCA for the amount of their Allowed Claim with a security interest in the Purchaser Note. The Purchaser Note will be included in the Plan Supplement.

Purchaser Note means the Series 2020A-2 Master Note, issued, authenticated and delivered under the Master Indenture, which evidences and secures the obligations of the Corporation, as Obligated Group Agent on behalf of itself and each Member of the Obligated Group, under the Continuing Covenant Agreement.

Purchaser Note has the meaning set forth in SECTION 3.2 of the Sale Agreement.

Purchaser Note means a note from the Purchaser to a Seller (in the form of the Intra-Group Loan Agreement, dated as of the date of this Agreement, between the relevant Seller and the Purchaser) with an initial principal balance equal to the remaining purchase price payable by the Purchaser to the relevant Seller, as described in, and as adjusted from time to time in accordance with, clause 2.2(b);

Purchaser Note means a promissory note issued by the Purchaser to Intermediate on the Effective Date in a principal amount equal to the principal amount of the Intermediate Note, in accordance with the Purchaser Contribution Agreement;

Purchaser Note means that certain Senior Unsecured Promissory Note, issued in connection with the Xxx Xxxxxx Acquisition, from the Borrower to the holders party thereto in the aggregate principal amount of up to $150,000,000 and otherwise in form and substance reasonably acceptable to the Administrative Agent, as may be amended, amended and restated, refinanced, replaced or otherwise modified from time to time as permitted by this Agreement (it being agreed and understood that the form and substance of the Purchaser Note provided to the Administrative Agent prior to the Effective Date and as may be amended, amended and restated, replaced or otherwise modified from time to time as permitted by this Agreement is reasonably acceptable to the Administrative Agent).

Purchaser Note shall have the meaning as is defined in Section 2.1.2(b) of this Agreement.