Second Maturity Date definition
Examples of Second Maturity Date in a sentence
The Delayed Draw Term Note Options will expire and be terminated upon the earliest of (x) the date the Borrower provides written notice to the Administrative Agent that it is terminating all and not less than all, of the Delayed Draw Term Note Options, (y) the Delayed Draw Term Notes First Maturity Date and (z) the Delayed Draw Term Notes Second Maturity Date (the earliest of clauses (x), (y) and (z) the “Delayed Draw Term Note Termination Date”).
The minimum advance under the terms of the facility is $500,000 and may be repaid at any time prior to the Second Maturity Date.
Prepayments shall be applied: first, to pay any outstanding amounts payable by the Borrower pursuant to Article VIII or Article IX; second, to accrued and unpaid interest; third, to reduce the principal amount of Notes due and payable on the First Maturity Date; and fourth, to reduce the principal amount of Notes due and payable on the Second Maturity Date.
Provided the closing of the Pipe Financing occurs before the Original Maturity Date, or, in the event that the Borrower elects to extend the term of this Debenture pursuant to Section 2.2 hereof, the Second Maturity Date, then, at the option of the Holder, this Debenture shall convert (in full and not in part) into shares of Pubco Common Stock at the price of $1.50 per share at the closing of the Pipe Financing.
For purposes of this Note, an "Event of Default" means the failure by Maker to make (a) the payment of the principal balance due hereunder by the Initial Maturity Date or (b) the payment of the principal balance due hereunder plus any and all interest within ten (10) days of the Second Maturity Date.