Examples of Xxxx Note in a sentence
Other than the right to receive and collect (i) royalties and (ii) proceeds received in prepayment of the Xxxx Note, Purchaser will retain all other rights and obligations under the Sale and License Agreements.
The terms of the Xxxx Note are described more fully in the Xxxx Agreement.
Purchaser will also assign to US Bank or another Person, as Trustee, for the benefit of Purchaser’s shareholders of record as of April 15, 2004, all proceeds received from Xxxx or its Successor in prepayment of the Xxxx Note, less fees and expenses related to accepting such prepayment and amending the Xxxx Agreement.
Lender further has the right but not the obligation to purchase the Xxxx Note and documents securing the Xxxx Note in the event of a default by the Borrower thereunder or under the terms of the Loan Documents and in such event the interest rate on the Xxxx Note shall increase to 24% per annum commencing on the date Lender purchases the Xxxx Note.
Other than the security interest created in favor of the Investor pursuant to the Security Agreement, there are no liens, security interests or other encumbrances on any portion of the Collateral (as defined in the Security Agreement), except for liens in connection with the Xxxx Note.