BUSINESS NOTE definition
Examples of BUSINESS NOTE in a sentence
In the event the Servicer shall consent to the deferment of the due dates for payments due on a Business Note, the Servicer shall nonetheless make payment of any required Monthly Advance with respect to the payments so extended to the same extent as if such installment were due, owing and delinquent and had not been deferred, and shall be entitled to reimbursement therefor in accordance with Section 4.04(b) hereof.
Any credit received by the makers of the Divested Business Note against amounts owed under the Divested Business Note pursuant to the terms of the Divested Business Documents shall not be considered Net Asset Sale Proceeds for purposes of this Section 2.13(a)(ii).
In the event the Servicer shall consent to the deferment of the due dates for payments due on a Business Note, the Servicer shall nonetheless make payment of any required Monthly Advance with respect to the payments so extended to the same extent as if such installment were due, owing and delinquent and had not been deferred, and shall be entitled to reimbursement therefor in accordance with Section 5.04(b) hereof.
Company and Supplier entered into an "Exclusivity and Amendment Agreement", dated August 6, 1998, which terminates the "Volume/Price Letter" in exchange for Company forgiveness of principal on "Core Business Note", and execution of exclusivity supply relationship; Now, in consideration of the foregoing recitals, and effective as of August 6, 1998, the following clauses are modified to make G-18150-E consistent with terms of the Exclusivity and Amendment Agreement.
However, the Borrower may permit a Business Borrower to defease a Business Note, meaning that the Business Borrower shall deposit, in the Loan Repayment Investment Account, either moneys or Government Obligations, which mature and bear interest at times and in amounts sufficient to pay when due the principal and interest to become due on the Business Note.
No Business Note shall be subject to redemption or prepayment earlier than the earliest possible redemption date under the terms of the corresponding Note from which the Business Loan was financed.
This Note amends, restates and replaces but is not issued in payment or satisfaction of, that certain Revolving Business Note issued by the Borrower to the Bank as of March 9, 2001 in the same amount ("Old Note").
City hereby authorizes the Secretary, upon default by City or Business under the Business Loan and Security Agreement, the Business Note, or the related UCC Financing Statements (the “Security Documents”), that remains uncured after the expiration of any cure period provided therein, to enforce City’s rights under the Business Loan and Security Agreement, the Business Note, and the related UCC Financing Statements and to receive all payments and performances due City thereunder.
The Servicer is also authorized to enter into a substitution of liability agreement with such person, pursuant to which the original Obligor is released from liability and such person is substituted as Obligor and becomes liable under the Business Note.
Venue for the settlement of disputes under this Revolving Business Note shall be in the United States District Court for the Eastern District of Wisconsin or the Circuit Court of Milwaukee County, Wisconsin.