Examples of Fleet Note in a sentence
As soon as practicable after the Effective Date, at the election of the Plan Proponents, in full satisfaction, settlement, release and discharge of and in exchange for such Fleet Secured Claim B, holders of the Allowed Fleet Secured Claim B shall receive or retain the New Fleet Note B secured by the security interest provided for under the Fleet Stipulation.
This Note is the Fleet Note referred to in the Fleet Loan Agreement dated as of the date hereof (the "Loan Agreement") between the Borrower and the Bank and evidences the Fleet Loans made by the Bank thereunder.
As soon as practicable after the Effective Date, at the election of the Plan Proponents, in full satisfaction, settlement, release and discharge of and in exchange for such Fleet Secured Claim A, holders of the Allowed Fleet Secured Claim A shall receive or retain the New Fleet Note A secured by the security interest provided for under the Fleet Stipulation.
New Fleet Note A” and “New Fleet Note B” mean the two non-recourse promissory notes issued by ATA in respect of Fleet Secured Claim A and Fleet Secured Claim B, respectively, each in the principal amount of $1,000,000, with each respective note secured by the collateral and having the terms described in the Fleet Stipulation and substantially in the form attached as Exhibits E and F respectively.
The New Fleet Note will provide as follows: (1) The Debtor and Fleet agree and stipulate that Fleet is owed $63,079,797.34 as of the Commencement Date, together with interest and other fees, costs and expenses provided in the New Fleet Loan Documents; and (2) the outstanding principal balance of the New Fleet Note together with interest thereon will be due and payable in monthly installments as set forth in the Amortization Schedule in the New Fleet Note, with a maturity date of September 30, 1998.
Nothing in the Plan will release the Fleet Released Parties from their obligations under the New Fleet Note and the New Fleet Documents.
The Debtor and Fleet will execute and deliver the New Fleet Note and the New Fleet Documents that will, among the things, compromise and settle any Causes of Action that the Debtor could have asserted against Fleet, Fleet's loan participant, Texas Commerce Bank, N.A., and any director, officer or agent of any of them (the "Fleet Released Parties") relating to any loans made by the Fleet Released Parties to the Debtor occurring prior to the Effective Date.
The issuance of the New Fleet Note will be authorized under the Plan without further act or action under applicable law, regulation, order or rule.
The holder of the Allowed Secured Fleet Claim will receive the New Fleet Note and the New Fleet Documents on the Effective Date; the holder of the Allowed Secured Prudential Claim will be paid in full, in the amount determined by the Bankruptcy Court, on the Effective Date; and holders of Allowed Other Secured Claims will either be reinstated, paid in Cash in full, or receive their collateral in full satisfaction of their Claims.
The promissory note shall be in the principal amount of Fifty Million ($50,000,000) Dollars and shall be in the form of Exhibit A annexed hereto (the "Fleet Note").