Pinnacle Notes definition
Examples of Pinnacle Notes in a sentence
Purpose: The proceeds of loans under the Pinnacle Term Loan Facility, together with proceeds from either the New Pinnacle Notes or the Pinnacle Bridge Facility, shall be used to refinance the Pinnacle Credit Agreement and the Target Credit Agreement, to fund the Acquisition and to pay transaction fees and expenses and for the working capital and general corporate purposes of Pinnacle and its subsidiaries after the Acquisition Closing Date.
The Company shall repay the Pinnacle Notes in full upon maturity if the Pinnacle Notes have not been converted into Common Stock prior to their maturity date, and upon conversion or repayment of the Pinnacle Notes, the Company shall obtain a release of the security interest held by Pinnacle in the Collateral.
Notwithstanding anything contained herein to the contrary, until such time as the Pinnacle Notes and all obligations thereunder have been paid in full, the Purchasers shall not (i) take any action to foreclose their security interest in the Collateral, or (ii) exercise any of their other rights or remedies hereunder in a manner that could reasonably be expected to interfere with or impair the security interest of Pinnacle or its rights with respect to the Collateral.
The Purchasers hereby acknowledge that the Pinnacle Notes are secured by a first priority security interest in the Collateral, and agree that the security interest in the Collateral securing the Secured Notes is junior and subordinate to the security interest securing the Pinnacle Notes.
If a power of attorney is required by any governmental authority or agency to allow Tenant to contest such Reassessment Claim, Landlord shall provide Tenant with a properly executed power of attorney.
Subject to the satisfaction or waiver of the conditions contained in Sections 6.2 and 6.3, Seller shall pay, redeem or otherwise discharge in whole the Pinnacle Notes prior to or concurrently with the Closing.
This Secured Note shall be senior to all other debt of the Company, whether now or hereinafter existing, except (i) as otherwise hereinafter provided, and (ii) this Secured Note is subordinate to repayment in full of the Pinnacle Notes.