Plan Note definition
Plan Note means a promissory note to be made by Holdings payable to a trust established under the Plan of Reorganization, the beneficial interests in which shall be distributed to certain creditors of, among others, the Borrowers pursuant to, and in accordance with, the Plan of Reorganization with respect to the pre-petition securitization trusts which Holdings' Subsidiaries, SAC and FSAC, hold an interest.
Plan Note means the secured promissory note in favor of the DIP Lenders and/or Pre-petition Lenders on account of their Pre-petition Adequate Protection Claims, including all related agreements, supplements, appendices and schedules thereto.
Plan Note means the promissory note attached to the Plan as Exhibit C, entitling the Holders of Allowed Class 4 Claims and Class 5 Interests to their Pro Rata share of the Cash Distribution Trigger Payments and the Transaction Trigger Payments, and otherwise containing, among other things, the following terms and conditions: (a) the Plan Note shall expire on December 31, 2011, after which no further Cash Distribution Trigger Payments or Transaction Trigger Payments will be due or paid (except for such payments that may be due based on the Distributable Cash Balance as of such date or transaction(s) completed in 2011); and (b) the maximum amount payable to the Plan Trust on account of the Plan Note shall not exceed $2 million in the aggregate, which aggregate $2 million will be reduced by the aggregate amount of all fees and expenses incurred by any official committee of equity security holders to be appointed in the Chapter 11 Case (including fees, costs and expenses of such a committee and legal fees and expenses of the Reorganized Debtor incurred as a direct result of the appointment and conduct of any such equity committee).
Examples of Plan Note in a sentence
Garbage Management Plan: Note: Event holders are responsible for the coordination, delivery and removal of dumpster and/or trash removal during and after the event.
A ten percent (10%) curtailment of the original Floor Plan Note principal balance shall be due on the first of the month following nine (9) months from the date of creation of a Floor Plan Note.
Used: A ten percent (10%) curtailment shall be due on the first month follwing six (6) months from the date of creation of a Floor Plan Note (“Curtailment”).
New: Principal payment shall be due twelve (12) months from the first of the month following date of invoice and creation of the Floor Plan Note.
Payment in full of the outstanding balance shall be due on the first of the month following twelve (12) months from the date of creation of Floor Plan Note.
More Definitions of Plan Note
Plan Note means any promissory note to be executed by any Debtor under the Plan.
Plan Note means the Plan Note attached hereto as Exhibit A.
Plan Note means any promissory note or notes issuable or issued to (i) the Plan Trust by the Issuer and/or any Affiliate of the Issuer or guaranteed by the Issuer, together with any interest paid or payable thereon, which meets the following conditions: (a) the aggregate principal amount that the Issuer may be obligated to make payments (whether as an obligor or guarantor), together with principal payments previously made by the Issuer with regard thereto, shall not exceed the Plan Note Principal Ceiling Amount plus any accrued but unpaid interest or other amounts that may be added to such principal amount pursuant to the terms of such promissory note or notes and (b) the right of payment with respect thereto shall be subordinate and subject in right of payment to the prior payment in full of all amounts owing and payable pursuant to the Securities, except that interest may be paid on the principal of such note or notes pursuant to the terms of such note or notes so long as no Default or Event of Default has occurred or is continuing, and (ii) American Biltrite by the Issuer in the amount of any payment made by American Biltrite to the Plan Trust or any other payee, other than American Biltrite, pursuant to any note issued by the Issuer to the Plan Trust pursuant to clause (i) of this definition, together with any interest paid or payable thereon, plus any accrued but unpaid interest or other amounts that may be added to the principal of such note or notes pursuant to the terms of such note or notes, provided, that the right of payment shall be subordinate and subject in right of payment to the prior payment in full in cash of all amounts owing and payable pursuant to the Securities, except that interest may be paid on the principal of such note or notes pursuant to the terms of such note or notes so long as no Default or Event of Default has occurred or is continuing, and that the right of payment shall be subordinated and subject in right of payment to the prior payment in full of all amounts owing and payable to the Plan Trust or other payee, other than American Biltrite, pursuant to any note issued by the Issuer to the Plan Trust pursuant to clause (i) of this definition.";
Plan Note. For all EBIT above the EBIT Budget Target of $13,323, 9.5 cents of each incremental dollar will be added to the bonus pool, to be shared by the plan participants in the same proportion as their share of the bonus pool paid on 100% EBIT attainment. SII 1999 Bonus Plan Target Modifier Bonus Target Participation Earnings Bonus Incremental Indicated Salary Percent Bonus % Increment Pool @ 9.5% Bonus Bonus Modifier -------- ------- -------- ------------- --------- ----------- ----------- -------- -------- ▇. ▇▇▇▇▇▇ $167,200 35% $ 58,520 0.265 $500,000 $ 47,500 $ 12,606.35 $ 71,126 1.21542 ▇. ▇▇▇▇▇▇▇ $130,000 25% $ 32,500 0.147 $500,000 $ 47,500 $ 7,001.13 $ 39,501 1.21542 ▇. ▇▇▇▇▇▇▇▇ $122,700 15% $ 18,405 0.083 $500,000 $ 47,500 $ 3,964.80 $ 22,370 1.21542 ▇. ▇▇▇▇▇ $127,500 25% $ 31,875 0.145 $500,000 $ 47,500 $ 6,866.50 $ 38,741 1.21542 ▇. ▇▇▇▇▇▇▇▇ $102,000 25% $ 25,500 0.116 $500,000 $ 47,500 $ 5,493.20 $ 30,993 1.21542 At Large $ 53,700 0% $ 53,700 0.244 $500,000 $ 47,500 $ 11,568.03 $ 65,268 1.21542 -------- ----------- -------- Total Standard Bonus $220,500 1.000 $500,000 $ 47,500 $ 47,500.00 $268,000 ======== ===== ======== ======== =========== ======== SII 1999 Bonus Plan Bonus Increments Target % Percent Improvement over Target EBIT -------- ------------------------------------ 100.00% 101.88% 103.75% 105.63% 107.51% 109.38% 111.26% 113.14% 115.01% 116.89% Target EBIT EBIT Improvement over Target - $250,000 Increments ----------- -------------------------------------------------- $13,323 $13,573 $13,823 $14,073 $14,323 $14,573 $14,823 $15,073 $15,323 $15,573 Target Bonus Bonus Pool - Target + Incremental @ 9.5% ------------ ---------------------------------------- $220,500 $244,250 $268,000 $291,750 $315,500 $339,250 $363,000 $386,750 $410,500 $434,250 Target Bonus % Modifier to "At Target" Bonus ------- ----------------------------- 100.00% 110.77% 121.54% 132.31% 143.08% 153.85% 164.63% 175.40% 186.17% 196.94% EXHIBIT B SIZZLER INTERNATIONAL, INC. Stock Option Agreement This Stock Option Agreement ("Agreement") is made and entered into this 8th day of February, 1999, by and between SIZZLER INTERNATIONAL, INC., a Delaware corporation (the "Company") and ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ("Option Holder").
Plan Note means the secured promissory note in favor of the DIP Lenders and/or Pre-petition Lenders on account of their Pre-petition
Plan Note means the unsecured, seven-year promissory note, in substantially the form contained in the Plan Supplement, issued by CAMC, for and on behalf of itself, the Debtor, and all other Cyprus Protected Parties, in favor of the Talc
Plan Note means that certain promissory note, substantially in the form attached as