`ATL Note definition
`ATL Note means that certain Promissory Note, dated April 1, 1997, executed by ATL, as maker, in favor of Odetics, in the original principal amount of $12,997,444.
`ATL Note means a promissory note of the Borrower payable to a Lender, in substantially the form of Exhibit A-2 hereto, evidencing the Indebtedness of the Borrower to such Lender resulting from the Additional Term Loan made to the Borrower by such Lender or its predecessor(s).
Examples of `ATL Note in a sentence
ATL and Forex hereby agree that the various loans in the aggregate amount of $71,736 (the “Prepaid Amount”) provided by ATL to Forex shall be applied to the ATL Note reducing the principal of the ATL Note by the Prepaid Amount.
This release includes but is not limited to any and all claims relating to any interest, penalties or fees resulting from the ATL Note and the Forex Note.
Accordingly, upon the conversion of that certain Convertible Promissory Note issued by Forex to ATL in aggregate principal amounts of $500,000 dated July 8, 2010, ATL will not be required to make such pro-rata payment reducing the ATL Note until the Prepaid Amount has been exceeded.