Examples of Term C Note in a sentence
Without limiting the generality of the foregoing, the Company shall have made such arrangements as may be requested by the Purchaser (a) to ensure that the proceeds from the issuance and sale of the Bridge Note and the Term C Note will be applied in the manner set forth in SECTION 2.4 and (b) for the direct payment to the Purchaser's third party service providers of the costs and expenses incurred by the Purchaser, as provided in SECTION 11.8.
The Bridge Note will be senior in right of payment and rights upon liquidation to all other existing and future indebtedness of the Company and would rank PARI PASSU with the Term B Note and the Term C Note.
As of September 30, 2003, the outstanding principal balances of the Term B Note and the Term C Note were $19.8 million and $5.3 million, respectively.
The Company shall have paid to the Purchaser at or before the Closing, by wire transfer in immediately available funds to a bank account designated by the Purchaser, aggregate fees of $2,400,000, consisting of $1,400,000, which represents the unpaid portion of the non-refundable, non-accountable closing fee of $1,750,000, and a non-refundable investment banking fee of $1,000,000 (which aggregate fees may be withheld by the Purchaser from the proceeds of the Bridge Note and/or the Term C Note).
The proceeds from the sale of the Term C Note will be used solely to assist the Company to finance the MFN Merger and to repay the MFN Senior Subordinated Notes.