Eligible Note definition

Eligible Note or "Note" means any written evidence of obligation, including a note, bond, mortgage or indenture which:

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Eligible Note is a Note which:

Eligible Note means the written evidence of indebtedness, unless otherwise amended or limited by the Eligibility Criteria: a. under which the Borrower is obligated to repay a Loan in amortizing monthly installments of principal and interest; b. with an initial term of at least twelve (12) months; c. secured by a Second Deed of Trust; and d. containing therein or in the Second Deed of Trust, where permitted by law,

Examples of Eligible Note in a sentence

• A Noteholder may assign, transfer or pledge an Eligible Note to any Person.

• Under this Guarantee, USAID agrees to pay to any Noteholder com- pensation in Dollars equal to such Noteholder’s Loss of Investment under its Eligible Note; provided, however, that no such payment shall be made to any Noteholder for any such loss aris- ing out of fraud or misrepresentation for which such Noteholder is respon- sible or of which it had knowledge at the time it became such Noteholder.

• The Insured must execute and deliver at the request of the Company such instruments and papers, including, but not limited to, an assignment of the Eligible Note and undertake such other actions as may be necessary to transfer, assign and secure such rights.

• When the documents described in subsections (a), (b), (c) or (d) above for such Note Receivable are delivered to the Custodial Agent, then that Note Receivable shall be deemed an Eligible Note Receivable provided that all other conditions to eligibility are satisfied.

• This Guarantee shall apply to each Eligible Note registered on the Note Register required to be maintained by the Fiscal Agent.

More Definitions of Eligible Note

Eligible Note means the written evidence of indebtedness, unless otherwise amended or limited by the Eligibility Criteria:

Eligible Note or "Note" means any written evidence of obligation, including a note, bond, mortgage or indenture which: (1) Bears the genuine signature of the Borrower and all other parties to the instrument, is complete and regular on its face, and is valid and enforceable against the Borrower; and

Eligible Note means each promissory note or other evidence of indebtedness executed by a third party in favor of Borrower (or assigned to Borrower by valid allonge and endorsement), and if Alliance elects in its sole discretion, each deed evidencing REO, together with all assignments, allonges, mortgages, trust deed, amendments or modifications thereto or replacements of substitutions therefor, that is assigned to Alliance and accepted by Alliance in its sole discretion to Advance against. Eligible Notes shall not include, and Alliance shall not advance against Nonperforming Notes or other Ineligible Collateral. Alliance may advance against REO in its sole and absolute discretion, subject to such further conditions as Alliance may require.

Eligible Note means an Underlying Note described on the most recent Borrowing Base Certificate delivered to Lender in accordance herewith and which at all times meets the following requirements:

Eligible Note means an Early Eligible Note and/or a General Eligible Note;

Eligible Note means each promissory note or other evidence of indebtedness executed by a third party in favor of Borrower (or assigned to Borrower by valid Allonge and Endorsement), together with all assignments, allonges, mortgages, trust deeds, amendments or modifications thereto or replacements or substitutions therefor, that is assigned to Lender and accepted by Lender in its sole discretion to Advance against. Eligible Notes shall not include, and Lender shall not advance against (and such Eligible Notes shall not be included in the Borrowing Base) any Nonperforming Notes or other Ineligible Collateral.

Eligible Note means any one or more negotiable promissory notes made by a Primary Obligor payable to the order of Borrower, in form and substance acceptable to Bank, in its sole and exclusive discretion, which note: (i) has been pledged to Bank pursuant to the Note Pledge Agreement by and between Borrower and Bank; (ii) has been delivered to Bank by Borrower; (iii) has been endorsed by Borrower payable to the order of Bank; (iv) for which Borrower has delivered to Bank an Agreement and Estoppel Certificate from the maker thereof, all in form and substance acceptable to Bank in its sole and exclusive discretion; and (v) the representations and warranties with respect to which made in the applicable Note Pledge Agreement are true and correct in all material respects. A true, accurate and complete schedule of all Eligible Notes is attached hereto as Schedule 2.2(c); provided however, Borrower shall have the right to amend Schedule 2.2(c) if and when Borrower delivers to Lender an Agreement and Estoppel Certificate from FC Capital relating to that certain Subordinated Promissory Note dated as of January 1, 1998, in the principal amount of $50,000,000 made by FC Capital payable to the order of Borrower. Upon delivery and acceptance of such Agreement and Estoppel Certificate from FC Capital and amendment of Schedule 2.2(c), such note shall be an Eligible Note under the terms of this Agreement. Borrower shall not enter into, amend, modify, supplement, restate or replace any Eligible Note, without in each instance, Bank's prior written consent.