Year 1 Note definition

Year 1 Note means a promissory note issued by Canadian AcqCo to Holdco at the Third Closing. The Year 1 Note will have a principal amount of no more than Twelve Million Five Hundred Thousand Dollars ($12,500,000) (such principal amount, the “Year 1 Note Principal Amount”), will not bear interest, will be secured by a subordinated security interest in the First Closing Purchased Assets and will be due and payable on January 31, 2011 (the “Year 1 Payment Date”). The Year 1 Note will provide that, on the Year 1 Payment Date, Purchasers will (i) pay to the holder of such note (by wire transfer of immediately available funds to a bank account designated no less than five (5) Business Days prior to such date) the Year 1 Payment; and (ii) if necessary, deliver to the holder of such note a number of CLNE Shares calculated pursuant to the following formula:
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Year 1 Note means a promissory note issued by Canadian AcqCo to Holdco at the Third Closing. The Year 1 Note will have a principal amount of no more than Twelve Million Five Hundred Thousand Dollars ($12,500,000) (such principal amount, the “Year 1 Note Principal Amount”), will not bear interest, will be secured by a subordinated security interest in the First Closing Purchased Assets and will be due and payable on January 31, 2011 (the “Year 1 Payment Date”). The Year 1 Note will provide that, on the Year 1 Payment Date, Purchasers will (i) pay to the holder of such note (by wire transfer of immediately available funds to a bank account designated no less than five (5) Business Days prior to such date) the Year 1 Payment; and (ii) if necessary, deliver to the holder of such note a number of CLNE Shares calculated pursuant to the following formula: Year 1 Principal Amount minus the Year 1 Payment the lower of (x) the Year 1 Price and (y) the Year 1 Midpoint Price
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Related to Year 1 Note

  • Class A-2 Note means any of the 0.51% Asset Backed Notes, Class A-2, issued under the Indenture substantially in the form attached thereto as Exhibit A-1.

  • Class A-1 Note means any of the 2.25000% Asset Backed Notes, Class A‑1, issued under the Indenture substantially in the form attached thereto as Exhibit A-1.

  • Term B Note means a promissory note made by the Borrower in favor of a Term B Lender, or its registered assigns, evidencing Term B Loans made by such Term B Lender, substantially in the form of Exhibit C-1.

  • RMB Note means a Note denominated in Renminbi.

  • Term A Note means a promissory note made by the Borrower in favor of a Term A Lender evidencing Term A Loans made by such Term A Lender, substantially in the form of Exhibit C-1.