Replacement Promissory Note definition
Replacement Promissory Note in the original principal amount of $8,000 dated August 4, 1992 made by River ridge Management, Inc. in favor of ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ and endorsed to CCA Maine.
Replacement Promissory Note means that certain promissory note, as hereafter amended, substituted or replaced, executed by Merger Sub at the Closing, payable to American Physicians Service Group, Inc., a Texas corporation ("APS"), attached hereto as Exhibit E, replacing all outstanding amounts under that certain original promissory note (the "Original Promissory Note") in the maximum principal amount of $3,000,000, dated November 1, 1998. "Share Equivalent Transaction Value" is equal to (i) 885,714, plus (ii) the outstanding amount under the Replacement Promissory Note immediately following the Closing divided by $7.00.