Note Payor definition

Note Payor means the payor under any Existing Intercompany Note.
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Examples of Note Payor in a sentence

  • In connection with any assignment of the Intercompany Note, Payor or Payee, as applicable, shall issue and deliver a new intercompany note to such assignee and no assignment or transfer of the Intercompany Note shall be effective unless and until the Intercompany Note has been surrendered for cancellation, and thereupon Payor or Payee, as applicable, shall issue and deliver a new intercompany note to effect the assignment or transfer.

  • Each Existing Intercompany Note has been duly executed and delivered by each Note Payor and is the legally valid and binding obligation of such Note Payor, enforceable against such Note Payor in accordance with its respective terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability.

  • If the parties dispute any term or condition of this Note, Payor shall pay all legal fees of Payee actually incurred within five (5) business days of receipt of the legal bill of ▇▇▇▇▇’s counsel.

  • In the event Payor defaults on its obligations under this Note, Payor shall pay to the Holder, upon demand but subject to Section 5 and the Intercreditor Agreement, all reasonable out-of-pocket costs and expenses, including attorneys’ fees, if any, incurred by the Holder in enforcing its rights hereunder.

  • Upon receipt of an affidavit reasonably satisfactory to Payor of the ownership of and the loss, theft, destruction or mutilation of this Note and, in the case of any such mutilation, upon surrender and cancellation of this Note, Payor shall make and deliver, in lieu of such lost, stolen, destroyed or mutilated Note, a new Note of like tenor and convertible into the same number of shares of Common Stock.

  • In any action brought under or arising out of this Note, Payor hereby consents to the jurisdiction of any competent court within the State of California and to service of process by any means authorized by California law.

  • In the event that Payee is required to take any action to collect or otherwise enforce payment of this Note, Payor agrees to pay such attorneys’ fees, court costs and other expenses as Payee may incur as a result thereof, whether or not suit is commenced.

  • Immediately after the issuance of this Note, Payor and its subsidiaries are, on a consolidated basis, Solvent.

  • In the event Payor defaults on its obligations under this Note, Payor shall pay to the Holder, upon demand but subject to Section 5 and the Loan Agreement, all reasonable out-of-pocket costs and expenses, including attorneys’ fees, if any, incurred by the Holder in enforcing its rights hereunder.

  • In lieu of Payor issuing any fractional shares to the Holder upon the conversion of this Note, Payor shall pay to the Holder the amount of outstanding principal or accrued interest that is not so converted, such payment to be in the form as provided below.

Related to Note Payor

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Third Party Payor means Medicare, Medicaid, TRICARE, and other state or federal health care program, Blue Cross and/or Blue Shield, private insurers, managed care plans and any other Person or entity which presently or in the future maintains Third Party Payor Programs.

  • Payor means a trustee, insurer, business entity, employer, government, governmental subdivision or agency, or other person authorized or obligated by law or a governing instrument to make payments.

  • Third Party Payors means Medicare, Medicaid, CHAMPUS, Blue Cross and/or Blue Shield, private insurers and any other Person which presently or in the future maintains Third Party Payor Programs.

  • Medicare benefit means the Medicare benefit payable within the meaning of Part II of the Health Insurance Act 1973 with respect to a professional service.