Contingent Value Note definition
Contingent Value Note means the unsecured contingent promissory note to be issued by the Sponsor to Ordinary Creditors in satisfaction of all Affected Claims, pursuant to this Proposal, substantially in the form attached hereto as Schedule “B” and specifically, issued in the amount of $500,000, distributable by the Sponsor three (3) months after the daily WTI index average is equivalent to or exceeds USD$57.50/bbl for a trailing twelve (12) month period, and expiring on September 1, 2024 if not paid out by such expiry date;