NPI Note definition
NPI Note means the unsecured promissory note issued by the Trust pursuant to the Arrangement equal to the fair market value of the NPI;
NPI Note means the unsecured, subordinated promissory note issued by the NPI Holder to the Grantor pursuant to clause 2.1;
Examples of NPI Note in a sentence
In consideration of the issuance of the NPI Note by the NPI Holder to the Grantor, receipt which is hereby acknowledged by the Grantor, the Grantor hereby grants and sets over to the NPI Holder the NPI on the Petroleum and Natural Gas Rights owned by the Grantor from time to time.
Appendix A, being the form of the NPI Note, is attached hereto and incorporated into and is part of this agreement by this reference as fully as though contained in the body of this agreement.