Seller Subordinated Note definition

Seller Subordinated Note means that certain Amended and Restated Subordinated Promissory Note, dated as of the date hereof, by Parent in favor of the Sellers, as in effect on the date hereof or as amended in accordance with the Seller Debt Subordination Agreement.

Seller Subordinated Note means, individually and collectively, (a) that certain Subordinated Unsecured Promissory Note dated as of the Closing Date in the original principal amount of $3,875,000 executed by Xxxxxxx and payable to Xxx X. Xxxxxxx, as amended from time to time as provided herein and in the Seller Subordination Agreement, (b) that certain Subordinated Unsecured Promissory Note dated as of the Closing Date in the original principal amount of $5,375,000 executed by Innovex and payable to QCI Interests, a Limited Liability Partnership, a Texas limited liability partnership, as amended from time to time as provided herein and in the Seller Subordination Agreement and (c) that certain Subordinated Unsecured Promissory Note dated as of the Closing Date in the original principal amount of $2,642,500 executed by Innovex and payable to Enerserv Services, LLC, a Texas limited liability company, as amended from time to time as provided herein and in the Seller Subordination Agreement.

Seller Subordinated Note means that certain Subordinated Promissory Note dated on or about the date hereof and issued by BRJ to BRJ Seller pursuant to the terms of the BRJ Acquisition Agreement in the original principal amount of $2,500,000 as the same may be amended, restated or otherwise modified.

Examples of Seller Subordinated Note in a sentence

• Agent shall have received all Seller Subordinated Note Documents and all Sponsor Subordinated Note Documents, in each case duly executed by the parties thereto in form and substance satisfactory to the Agent.

• Finance LLC has all requisite power and authority to (i) carry on its business as now being conducted, (ii) execute, deliver and perform the Seller Subordinated Note, and (iii) take all action as may be necessary to complete the transactions contemplated by the Seller Subordinated Note.

• Each of the Credit Parties, the Agent and the Documentation Agent shall have executed an original counterpart of a flow of funds letter (the “Flow of Funds Letter”), in form and substance satisfactory to the Agent and the Documentation Agent, which shall provide, among other things, for the payment in full of the Indebtedness evidenced by the Seller Subordinated Note and all obligations related thereto.

• The total purchase price was funded with net proceeds from the Credit Facilities of $81,881, the Seller Subordinated Note of $25,500 and existing cash.

• The Borrowers shall have delivered to the Agent and the Documentation Agent a payoff letter, in form and substance satisfactory to the Agent and the Documentation Agent, with respect to the outstanding Indebtedness evidenced by the Seller Subordinated Note and all obligations related thereto.

More Definitions of Seller Subordinated Note

Seller Subordinated Note means the subordinated note of Finance LLC in favour of International in form attached as Annex A to this Agreement;

Seller Subordinated Note means that certain promissory note, dated the Closing Date, in the stated principal amount of $5,000,000, from Borrower, as maker, to Seller, as payee, and any amendments, renewals, extensions and modifications thereof.

Seller Subordinated Note means that certain Promissory Note dated as of as of the date hereof given by MGS in favor of Paceco Investors, L.P., a Texas limited partnership in an aggregate principal amount of $10,000,000.

Seller Subordinated Note means a junior subordinated promissory note in the principal amount of $9.0 million due August 21, 2009 issued by the Parent to Raytheon.

Seller Subordinated Note means that certain subordinated promissory note executed and delivered by Cerprobe to the Sellers in accordance with the Purchase Agreement, which shall contain terms and conditions, including without limitation payment and subordination terms, satisfactory to Lender, and which shall be in the initial aggregate outstanding principal amount of $2,830,000, as increased (or decreased) as required by the terms of the Purchase Agreement.

Seller Subordinated Note means the subordinated promissory note executed by Parent in favor of Mxxxxxx Xxxxxx in the original principal amount of $4,000,000.

Seller Subordinated Note means the unsecured junior subordinated note issued by Holdings in favor of the Seller in connection with the Acquisition.