Operating note definition

Operating note means every undertaking of the state to repay a certain amount of a financial obligation which is:

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Operating note means the promissory note evidencing the Minimum Guaranteed Payment Advances under Section 5.3(b) herein and the Working Capital Advances under Section 5.7 herein made by Lakes, substantially in a form to be agreed to by Pawnee and Lakes, together with all amendments, substitutions and renewals thereof.

Operating note has the meaning given in Section 2.7(b).

Examples of Operating note in a sentence

• From the date hereof through the Closing Date, Seller shall maintain insurance on the Business at the same levels as is maintained on the date hereof.

• The parties hereto intend and believe that each provision of this Operating Note comports with all applicable local, state and federal laws and judicial decisions.

• Any reference to the Lender shall be deemed to include and apply to every subsequent holder of this Operating Note.

• The remedies of the Lender, as provided in this Operating Note and any other related documents, shall be cumulative and concurrent and may be pursued singularly, successively or together, at the sole discretion of the Lender, and may be exercised as often as occasion therefor shall occur; and the failure to exercise any such right or remedy shall in no event be construed as a waiver or release thereof.

• The Maker shall have the right to prepay all or any part of this Operating Note at any time without penalty or premium provided any partial payment is at least $10,000 or an even multiple thereof, but any such prepayment shall be applied to the installments of principal due hereunder in the inverse order of maturity.

More Definitions of Operating note

Operating note. (t) "Operating Note" shall be deleted in its entirety and the following shall be inserted in its stead:

Operating note means the promissory note hereafter made by Bank to Borrower in the maximum principal amount of Two Million Dollars ($2,000,000.00) and dated June 1, 1995, which matures May 1, 1996. 2. Amendment of Section 2.1 "Operating Loan". Section 2.1 "Operating Loan" shall be deleted in its entirety and the following shall be inserted in its stead:

Operating note dated June 1, 1995 in the face amount of One Million One Hundred Thousand and no/100 Dollars ($1,100,000.00) by and between TRANSCRYPT INTERNATIONAL, LTD., ("Borrower"), and NORWEST BANK NEBRASKA, NATIONAL ASSOCIATION ("Bank"), is hereby modified as follows as agreed by the Borrower:

Operating note. Section 2.2 "Operating Note" shall be deleted in its entirety and the following shall be inserted in its stead:

Operating note means the promissory note as described in the Management Agreement.

Operating note means the operating note of the Borrower, in the form attached hereto as Exhibit "G" and incorporated herein by this reference.

Operating note means the promissory note hereafter made by Bank to Borrower in the maximum principal amount of $1,100,000.00 and dated February 5, 1994, and which matures on April 1, 1995.