Series 1 Trust Notes definition

Series 1 Trust Notes means the non-interest bearing Series 1 unsecured subordinated demand notes of the Trust.

Series 1 Trust Notes means the series 1 notes of the Trust issued under the Trust Note Indenture; “Series 2 Trust Notes” means the series 2 motes of the Trust issued under the Trust Note Indenture; “Series 3 Trust Notes” means the series 3 notes of the Trust issued under the Trust Note Indenture;

Series 1 Trust Notes means the interest bearing Series 1 unsecured subordinated demand notes of the Trust issued to the Fund on October 12, 2004 and also subsequently issued to the Fund in conjunction with SIR’s conversion of Class A GP Units of the Partnership into units of the Fund and sale of these Fund units under the Note Indenture. The below chart provides the amounts of the Series 1 Trust Notes and their dates of repayment:

Examples of Series 1 Trust Notes in a sentence

• At no time may any exchange be made if there exists an uncured event of default arising on the Series 1 Trust Notes.

• The Trust used the net proceeds from the issuance of its units and Series 1 Trust Notes to the Fund to subscribe for ordinary limited partnership units of the Partnership for $11,166,660.

• On Closing, the Fund shall use the net proceeds from the sale of Units issued on the Offering to acquire the SIR Loan, Holdings Trust Units and Series 1 Trust Notes.

• The net proceeds of the IPO were used by the Fund to acquire a $40 million loan from a Canadian chartered bank (the “Bank”) between SIR and the Bank, and to subscribe for units of the Trust for $1,116,660 and Series 1 Trust Notes of the Trust in the aggregate principal amount of $10,050,000.

More Definitions of Series 1 Trust Notes

Series 1 Trust Notes means the Series 1, unsecured, subordinated, interest bearing promissory notes of Extendicare Trust issued pursuant to this Plan of Arrangement under the Trust Note Indenture;

Series 1 Trust Notes means the series 1, unsecured, subordinated notes of the Trust issued pursuant to the Plan of Arrangement under the Trust Note Indenture;

Series 1 Trust Notes means the interest-bearing Series 1 unsecured subordinated promissory notes of InterRent Trust issued to the Trust at Closing pursuant to the Note Indenture.

Series 1 Trust Notes means the non-interest bearing Series 1 unsecured subordinated demand notes of the Trust issued to the Fund on July 6, 2005 under the Note Indenture.

Series 1 Trust Notes means the interest-bearing Series 1 unsecured subordinated promissory notes of Subsidiary Trust issued to the REIT at Closing pursuant to the Subsidiary Trust Note Indenture;

Series 1 Trust Notes means the Series 1 unsecured subordinated promissory notes of Subsidiary Trust to be issued pursuant to the Note Indenture;

Series 1 Trust Notes means the interest-bearing Series 1 unsecured subordinated promissory notes of PRR Trust issued to Primaris pursuant to the Note Indenture.