CCS Note definition
CCS Note means the promissory note in the lesser amount of (a) $350,000, or (b) 20% of the total amount of Allowed Claims in Class C-4 excluding any claims of the Bank and the NCFE Entities, to be issued by the Reorganized Debtors as of the Effective Date which is made payable to the CCS Creditors’ Trust solely for the benefit of Creditors in Class C-4 holding Allowed Unsecured Claims against CCS. The CCS Note, the CDSI Note, the CCG Note, and the Med Note, jointly, shall be secured by a second priority lien on all of the assets of the Reorganized Debtors, subordinate to any working capital line(s) obtained by the Reorganized Debtors in the ordinary course of business up to $15 million. The CCS Note shall be payable in equal quarterly payments with simple interest at a rate of 6% per annum, and payable pursuant to a two- year amortization. The CCS Note shall become due one year following the Effective Date.
CCS Note means the promissory note to be issued by the Reorganized Debtors pursuant to the CDSI Plan which is made payable to the CCS Creditors’ Trust solely for the benefit of certain creditors holding Unsecured Claims against CCS.
CCS Note has the meaning set forth in Section 2.1(c).
Examples of CCS Note in a sentence
On the Closing Date, the total indebtedness of CCS ------------------ on a consolidated basis (including all indebtedness to its stockholders) shall not exceed in the aggregate the sum of (i) $13.8 million, (ii) the outstanding principal balance (and any accrued but unpaid interest thereon) under the CCS Note, and (iii) the outstanding principal balance (and any accrued but unpaid interest thereon) of any additional borrowings approved in writing by PaeTec.
Designate any Indebtedness other than the Lender Indebtedness as "Designated Senior Indebtedness" (as defined in the Description of Notes) for purposes of the CCS Note Documents.
More Definitions of CCS Note
CCS Note means the promissory note to be issued by the Reorganized Debtors pursuant to the CDSI Plan which is (a) made payable to the CCS Creditors’ Trust solely for the benefit of certain creditors holding Unsecured Claims against CCS, and (b) secured by a second priority lien on all of the assets of the Reorganized Debtors (subject to the terms and conditions of the Inter-Trust Creditor Agreement), subordinate to any working capital line(s) obtained by the Reorganized Debtors in the ordinary course of business up to $15,000,000.
CCS Note means the promissory note to be issued by the Reorganized Debtors pursuant to the CDSI Plan which is (a) made payable to the CCS Creditors’ Trust solely for the
CCS Note shall have the meaning ascribed to it in Section 5.3(a).