February Notes definition
Examples of February Notes in a sentence
The Corporation issued February Notes to the February Noteholders subject to the February Inter-Creditor Agreement.
No Indebtedness of the Company, at the Closing, will be senior to, or pari passu with, the Notes in right of payment, whether with respect to payment or redemptions, interest, damages, upon liquidation or dissolution or otherwise, other than the December Notes and the February Notes.
Effective upon the earlier of (x) the calendar day immediately following the Restricted Period and (y) such time as no December Notes, February Notes, Series A Notes or Series B Notes remain outstanding, the Holder hereby waives the Offering Restrictions.
Upon the amendment and restatement of the Company’s Articles of Incorporation, the Company will upon reserve for issuance pursuant to the Notes an aggregate of Six Hundred Six Thousand and Sixty-One (606,061) shares of Common Stock, representing the maximum number of shares of Common Stock initially issuable upon the conversion in full of the Notes and the February Notes (the “Reserved Amount”).
Each Buyer expressly acknowledges that the issuance of the Notes shall not be deemed a breach of the terms of the securities purchase agreement relating to the February Notes.
Each of the Debentures, the January Notes and the February Notes is hereby amended as follows: The “Maturity Date” in the Debentures, the January Notes and the February Notes is hereby redefined to mean April 30, 2010; provided, that it is understood that interest shall continue to accrue on the principal amount of the Debentures until paid in full at the Default Rate set forth therein.
Notwithstanding the foregoing, in no event shall any amendment to the February Notes cause the Applicable Interest Rate to exceed 6%.
The payment of the Notes is senior to all other obligations of Debtor whether now existing or hereinafter incurred except for: (1) existing asset-based borrowings and lines of credit from commercial or financial institutions, including Madison Leasing or Central Leasing in the aggregate amount of $2,834,689 as of December 31, 2004; (2) indebtedness approved by the prior written consent from each Secured Party; and (3) the February Notes.
Maker has entered into three Promissory Notes in February 2011 in favor of Holder (collectively such notes are referred to herein as the "February Notes").
The Debtors’ obligations under the Bridge Loan and Bridge Guaranty shall be secured by all collateral currently securing the Debentures; provided, that, the Debtors’ obligations under the Bridge Notes (together with all costs of collecting such obligations including attorneys’ fees) shall be deemed senior, in payment and security, to their obligations under the Debentures set forth above but shall be on a parity basis with the Debtors’ obligations under the January Notes and the February Notes.