Assumption Note definition

Assumption Note means subordinated promissory notes issued by Killam Amalco 2, with aggregate principal amounts equal to the principal amount of the Convertible Debentures on the Effective Date;
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Assumption Note means the promissory note of the Borrower payable to the order of the Lender in substantially the form of Exhibit A-1 hereto.
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Examples of Assumption Note in a sentence

  • Promptly following its receipt of such Assignment and Assumption, Note or Notes (if any) and fee, the Agent shall accept and record such Assignment and Assumption in the Register.

  • Except to the extent such waiver is prohibited by law, Borrower waives presentment, demand and protest and notice of presentment, demand, protest and non-payment and any other notice of any kind in connection with this Debt Assumption Note.

  • Notwithstanding the provisions of the Debt Assumption Note, Merger Sub and Parent intend for Merger Sub to be primarily responsible for the RZB Advance and are entering into this Agreement to formalize and document such intention, provided that this Agreement shall not limit or impair any of RZB’s rights or remedies against Parent, Merger Sub or any other obligor.

  • Also, Incomnet assumed the Company's obligation to ▇▇▇▇▇▇▇ in the outstanding amount of $286,011.89, $90,000 of which was paid in cash by Incomnet and the remaining balance of $196,011.89 is the subject of a promissory note (the "▇▇▇▇▇▇▇ Assumption Note").

  • During any time when no Default or Event of Default exists, (i) collected funds from the Collateral Account representing the proceeds of Old Receivables shall be applied to prepay the Assumption Note to the extent required by Section 2.4 hereof, and (ii) all other collected funds shall be remitted by the Lender to the Borrower.

  • All such mandatory prepayments received after June 30, 1997 shall be applied, first to accrued and unpaid interest on the Assumption Note, and then to the installments of principal payable on the Assumption Note in inverse order of maturity.

  • On and after the date of this Agreement, such indebtedness shall be secured by the Collateral as provided in Article III hereof and shall be evidenced by the Assumption Note.

  • All such mandatory prepayments received by the Lender prior to June 30, 1997 shall be applied, first to accrued and unpaid interest on the Assumption Note, and then to the principal of the Assumption Note.

  • The Assumption Note shall bear interest and be payable as set forth in the Assumption Note and this Agreement.

  • Upon occurrence of the Assumption, the Issuer shall execute and the Trustee shall authenticate the Assumption Note Certificates.

Related to Assumption Note

  • Assumption Agreement has the meaning specified in Section 2.18(d)(ii).

  • Assumption Date has the meaning set forth in Section 9.23 of the Sale and Servicing Agreement.

  • Commitment Transfer Supplement means a document in the form of Exhibit 16.3 hereto, properly completed and otherwise in form and substance satisfactory to Agent by which the Purchasing Lender purchases and assumes a portion of the obligation of Lenders to make Advances under this Agreement.

  • Purchase Agreement Assignment means that certain Purchase Agreement Assignment [NW 1997 I], dated as of February 3, 1998, between Lessee and Lessor, as the same may be amended, supplemented or modified from time to time, with a form of Consent and Agreement to be executed by the Manufacturer attached thereto.

  • Incremental Term Loan Assumption Agreement means an Incremental Term Loan Assumption Agreement among, and in form and substance reasonably satisfactory to, the Borrower, the Administrative Agent and one or more Incremental Term Lenders.