Subordinated Term Note definition

Subordinated Term Note means a promissory note of the Borrower payable to the order of each Lender in substantially the form of Exhibit A.
Sample 1Sample 2
Subordinated Term Note means a promissory note of the Borrower payable to the order of each Lender in substantially the form ofExhibit A.
Sample 1
Subordinated Term Note means a promissory note of the Borrower payable to the order of each Lender in substantially the form of Exhibit A. “Subsidiary” shall mean, with respect to any Person (the “parent”), any corporation, partnership, joint venture, limited liability company, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, part­nership, joint venture, limited liability company, association or other entity (i) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power, or in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (ii) that is, as of such date, otherwise controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. Unless otherwise indicated, all references to “Subsidiary” under this Agreement shall mean a Subsidiary of the Borrower. “Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. “Term Loan” shall have the meaning set forth in Section 2.1. “Tier 2 Capital” shall have the definition provided in, and shall be determined in accordance with, the rules and regulations of the FDIC. “Type”, when used in reference to a Loan, refers to whether the rate of interest on such Loan, is determined by reference to LIBOR or the Base Rate. “Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. Section 1.2.
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Examples of Subordinated Term Note in a sentence

  • Nothing herein shall impair the obligation of the Borrower, which is absolute and unconditional, to pay the principal of and any premium and interest on this Subordinated Term Note according to its terms.

  • The outstanding unpaid principal balance of this Subordinated Term Note shall be payable in a single installment on the Maturity Date.

  • Whenever any payment to be made under this Subordinated Term Note shall be due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall be included in the computation of interest due upon this Subordinated Term Note.

  • These are: Coral Reef Protection and Restoration (Australia, Belize, Mauritius); Mangrove Ecosystems and Livelihoods (Sri Lanka); Marine Plastics (aka ‘Commonwealth Clean Ocean Alliance’); (UK, Vanuatu); Ocean Acidification (New Zealand); Ocean and Climate Change (Fiji); Ocean Observation (Canada); Marine Protected Areas (Seychelles); Sustainable Aquaculture(Cyprus); Sustainable Blue Economy(Kenya); Sustainable Coastal Fisheries(Kiribati).

  • This Subordinated Term Note (the "Term Note") shall bear interest on the unpaid principal amount from the date of issue until paid at the rate of _____________ percent (____%) per annum, such interest to be payable as provided on the reverse side of this Term Note.

  • On the Closing Date, the Borrower will execute and deliver a Subordinated Term Note to each Lender in a principal amount equal to the amount of the Term Loan funded by such Lender on the Closing Date.

  • A(I)(A)(2)(e), such Lender waives its right to exercise any set-off or other right to appropriate and to apply any deposits or other assets of the Borrower at any time held by such Lender against or on account of any of the Loans owing hereunder or owing under a Subordinated Term Note to such Lender.

  • The Interest Rate in respect of each Incremental Term Loan (if any) for the period from the date such Incremental Term Loan is made to the immediately following Interest Reset Date shall be set forth in each Subordinated Term Note issued in connection with the making of such Incremental Term Loan (which shall be determined by reference to the then prevailing LIBOR).

  • On the Closing Date, the Borrower will execute and deliver a Subordinated Term Note to each Lender in a principal amount equal to the amount of the Term Loans funded by such Lender on the Closing Date.

  • Upon the registration of the Term Loan, Borrower agrees to execute and deliver to each Lender a Subordinated Term Note, in the form of Exhibit B-1 hereto, and registered as provided in Section 13.1(f) (a “Registered Note”), payable to the order of such Lender or its registered assigns and otherwise duly completed.


More Definitions of Subordinated Term Note

Subordinated Term Note means the Subordinated Term Note, dated as of June 29, 2018, by and among the Company, as borrower, and Clean Feet Investors I, LLC, as lender, as amended by the First Amendment to Subordinated Term Note and Subordinated General Security Agreement, dated May 15, 2020, and as amended, amended and restated, refinanced, renewed, replaced, extended, supplemented, or otherwise modified from time to time, with an original principal balance of $8,000,000.
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Related to Subordinated Term Note

  • Subordinated Note means the Subordinated Note (or collectively, the “Subordinated Notes”) in the form attached as Exhibit A hereto, as amended, restated, supplemented or modified from time to time, and each Subordinated Note delivered in substitution or exchange for such Subordinated Note.

  • Existing Term Loan Agreement means that certain Term Loan Credit Agreement dated as of October 22, 2010 by and among Holdings, the Company, as borrower, the Subsidiary Guarantors, the lenders party thereto from time to time and Xxxxx Fargo Bank, National Association, as administrative agent and collateral agent, as amended, restated, supplemented or otherwise modified from time to time.

  • Term Note means a promissory note of the Borrower payable to any Term Lender or its registered assigns, in substantially the form of Exhibit C-1 hereto, evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from the Term Loans made by such Term Lender.

  • Subordinated Loan Agreement means any loan agreement made or to be made between (i) any Borrower and (ii) a Subordinated Creditor.

  • Subordinated Note Indenture means the Indenture dated as of the Closing Date, among the Borrower, the guarantors party thereto and The Bank of New York, as trustee, pursuant to which the Subordinated Notes are issued, as the same may be amended, supplemented or otherwise modified from time to time to the extent permitted by Section 10.7(b).

  • Refinancing Term Lender has the meaning specified in Section 2.15(c).

  • Subordination Agreement means any subordination or intercreditor agreement(s) entered into with respect to any subordinate financing related to the Project, as the same may be amended, supplemented or restated.

  • Intercompany Subordination Agreement means an intercompany subordination agreement, dated as of even date with this Agreement, executed and delivered by each Loan Party and each of its Subsidiaries, and Agent, the form and substance of which is reasonably satisfactory to Agent.

  • Subordinated Indebtedness Documents means any document, agreement or instrument evidencing any Subordinated Indebtedness or entered into in connection with any Subordinated Indebtedness.

  • Refinancing Term Loan has the meaning specified in Section 2.15(b).