IC-DISC Notes definition
IC-DISC Notes any notes issued after the Fifth Amendment Effective Date in connection with the making of the Permitted IC-DISC Payments so long as the terms of such notes are substantially similar to the terms of the IC-DISC Notes 3/4, including maturity of not less than 5 years after the date of issuance, only payment in kind of interest (no cash interest payments), and subordinated in payment pursuant to the terms of the IC-DISC Subordination Agreement. IC-DISC Notes 3/4: that certain (a) Second Amended and Restated Subordinated PIK Note, dated as of February 1, 2017, made by Alliance and payable to the order of ▇▇▇▇▇▇▇ in the original principal amount of $3,358,000, and (b) Second Amended and Restated Subordinated PIK Note, dated as of February 1, 2017, made by Alliance and payable to the order of ▇▇▇▇▇▇ in the original principal amount of $3,358,000. IC-DISC Subordination Agreements: each of (a) that certain Subordination Agreement, dated as of the Closing Date, between ▇▇▇▇▇▇▇ and Agent, and (b) that certain Subordination Agreement, dated as of the Closing Date, between ▇▇▇▇▇▇ and Agent in each case, in respect of the IC-DISC Notes. ILJ: ILJ Enterprises, LLC, a Minnesota limited liability company. Indemnified Taxes: (a) Taxes, other than Excluded Taxes, imposed on or relating to any payment of an Obligation; and (b) to the extent not otherwise described in clause (a), Other Taxes. Indemnitees: Agent Indemnitees, Lender Indemnitees, Issuing Bank Indemnitees and Bank of America Indemnitees. Insolvency Proceeding: any case or proceeding commenced by or against a Person under any state, federal or foreign law for, or any agreement of such Person to, (a) the entry of an order for relief under the Bankruptcy Code, or any other insolvency, debtor relief or debt adjustment law; (b) the appointment of a receiver, trustee, liquidator, administrator, conservator or other custodian for such Person or any part of its Property; or (c) an assignment or trust mortgage for the benefit of creditors.
IC-DISC Notes means, collectively, the IC-DISC Notes 3/4, the IC-DISC Notes 7/8, and the IC-DISC Notes 9/10. IC-DISC Notes 3/4: that certain (a) Second Amended and Restated Subordinated PIK Note, dated as of February 1, 2017, made by Alliance and payable to the order of ▇▇▇▇▇▇▇ in the original principal amount of $3,358,000, and (b) Second Amended and Restated Subordinated PIK Note, dated as of February 1, 2017, made by Alliance and payable to the order of ▇▇▇▇▇▇ in the original principal amount of $3,358,000. IC-DISC Notes 7/8: that certain (a) Amended and Restated Subordinated PIK Note, dated as of February 1, 2017, made by Alliance and payable to the order of ▇▇▇▇▇▇▇ in the original principal amount of $3,851,000, and (b) Amended and Restated Subordinated PIK Note, dated as of February 1, 2017, made by Alliance and payable to the order of ▇▇▇▇▇▇, in the original principal amount of $3,851,000. IC-DISC Notes 9/10: that certain (a) Amended and Restated Subordinated PIK Note, dated as of February 1, 2017, made by Alliance and payable to the order of ▇▇▇▇▇▇▇ in the original principal amount of $2,815,000, (b) Amended and Restated Subordinated PIK Note, dated as of February 1, 2017, made by Alliance and payable to the order of ▇▇▇▇▇▇ in the original principal amount of $2,815,000, and (c) IC-DISC Future Notes.
IC-DISC Notes means any notes issued after September 29, 2020 in connection with the making of payments by any Loan Party or Subsidiary to My Worldwide.
Examples of IC-DISC Notes in a sentence
As of the Closing Date, (i) each of the IC-DISC Notes 3/4 and the IC -DISC Notes have been paid in full and terminated, (ii) there are no payments due and owing, or any accruals, commissions or other obligations or liabilities, from any Loan Party or Subsidiary to, or in favor of, My Worldwide and (iii) My Worldwide has been dissolved.