Assumed Note definition

Assumed Note shall have the meaning set forth in Section 7.6(d) hereof.

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Assumed Note has the meaning set forth in Section 1.2(a).

Assumed Note means that certain demand note (as amended from time to time) issued by CMB Plastique S.A. in the face principal amount of 106,229,000 French francs (approximately $16,800,000).

Examples of Assumed Note in a sentence

• If it is determined by Lender that the Applicable Interest Rate for the Interest Period in which such prepayment occurs is less than the Assumed Note Rate, Lender shall promptly refund to Borrower, without interest, an amount equal to the difference between the interest paid by Borrower for the Interest Period in which such prepayment occurs calculated at the Assumed Note Rate and the amount of interest for said Interest Period calculated at the actual Applicable Interest Rate.

• All interest that has accrued on the Sprint Pre-Closing Financing in accordance with the terms of the Assumed Note between April 1, 2008 and the Sprint Pre-Closing Financing Repayment Date (the “Pre-Closing Accrued Interest”) will be paid to Sprint on the Sprint Pre-Closing Financing Repayment Date in a combination of cash and added principal to the Secured Note in the same proportion as the Cash Payment and the Secured Note.

• NewCo LLC will repay, or cause to be repaid, in full, in accordance with the terms of the Assumed Note and Section 1.2(b), the Sprint Pre-Closing Financing that was assumed by Sprint Sub LLC prior to the LLC Contribution.

• For the avoidance of doubt, interest shall accrue on any amounts of Sprint Pre-Closing Financing in accordance with the terms of the Assumed Note beginning on the date that any such financing is provided by Sprint as provided by this Section 1.2(a) through but excluding the Sprint Pre-Closing Financing Repayment Date (as defined below).

• If it is determined by Lender that the Applicable Interest Rate for the Interest Period in which such prepayment occurs is less than the Assumed Note Rate, Lender shall promptly refund to Borrower, without interest, an amount equal to the difference between the interest paid by Borrower on the prepaid amount for such Interest Period calculated at the Assumed Note Rate and the amount of interest on the prepaid amount for such Interest Period calculated at the actual Applicable Interest Rate for the Loan.

• This Note has been executed and delivered in connection with the assumption of the Assumed Note by ▇▇▇▇▇▇ from the Assignor.

• If it is determined by Lender that LIBOR as so determined for the applicable Interest Accrual Period plus the applicable Spread is less than the Assumed Note Rate, Lender shall promptly refund to Borrower, without interest, an amount equal to the difference between (x) the Assumed Note Rate Payment and (y) the amount of interest which would have been payable on the prepaid amount based on LIBOR as determined on the Interest Determination Date.

• Within 30 days after the Effective Time, Parent will issue to each person who, immediately prior to the Effective Time, was a holder of an Assumed Option, Assumed Warrant or Assumed Note a document evidencing the foregoing assumption of such Assumed Option, Assumed Warrant or Assumed Note by Parent.

• An Assumed Note may not be the subject of any further assumption.

• Except with respect to the Assumed Note Liabilities, Purchaser will not assume or acquire, by virtue of the transactions contemplated hereby, any Liabilities or obligations of Seller.

More Definitions of Assumed Note

Assumed Note shall have the meaning given it in Section 2.2 hereof.

Assumed Note means a promissory note in the aggregate principal amount of the Assumed Note Balance issued by the Buyer to ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, substantially in the form attached as Exhibit C hereto.

Assumed Note the outstanding Senior Secured Multiple Advance Note dated February 1, 1997 from the Company to the Shareholder in the principal amount of $17,000,000, as secured by the Security Documents. The Assumed Note bears interest at an annual rate equal to the Shareholder's blended borrowing rate plus one-eighth of 1% per annum (at Closing Shareholder's blended rate is as set forth on a certificate from the Shareholder) and is adjustable quarterly as the Shareholder's borrowing rate adjusts.

Assumed Note means, individually and collectively, those certain promissory notes as further described on Exhibit K attached hereto.