Purchaser Note definition

Purchaser Note. As defined in Section 10.02 of the Purchase Agreement.

Purchaser Note means the $99,000,000 principal amount of zero-coupon, convertible, subordinated notes due 2023 issued by the Company.

Purchaser Note has the meaning stated in Section 3.01.

Examples of Purchaser Note in a sentence

• If any part of MCA’s alleged Class 2 Claim is allowed by the Bankruptcy Court, the Liquidating Trustee may, as full and final satisfaction, release, and discharge of such Allowed Class 2 Claim, (i) assign the Purchaser Note to MCA, (ii) continue to make payments to the Holders of Allowed Class 2 Claims, or (iii) issue a note to MCA for the amount of its Allowed Class 2 Claim with a security interest in the Purchaser Note.

• The Purchaser may prepay all or part of the outstanding balance of the Purchaser Note and interest accrued thereon from time to time without any premium or penalty, unless an Event of Default has occurred and is continuing or would result from such prepayment or payment.

• The Purchaser Note shall bear interest at the "prime rate" as determined by the Indenture Trustee from time to time in effect.

• Subject to the foregoing, the Purchaser Note shall be payable in full on the date which is one year and one day after the Termination Date.

• As part of the Sale Transaction, the Purchaser (a) shall assume the obligations to honor the Assumed Deferred Revenue Liability, make payments pursuant to the Sales Representatives Commission Claims Payment Plan, honor the Purchaser Honored Virtual Currency, and pay the Cure Costs and (b) shall issue the Purchaser Note.

More Definitions of Purchaser Note

Purchaser Note means that certain promissory note issued under this Plan by the Purchaser to the Liquidating Trustee in the principal amount of $5,500,000, plus interest at the rate of 6% simple interest per annum. The Purchaser Note will be fully amortized over thirty-six (36) months. Payments under the Purchaser Note will (a) begin on the last day of the first full calendar month after the Effective Date and (b) be paid into a segregated account controlled by the Liquidating Trustee and owned by the Liquidating Trust. No Distributions will be made from this segregated account without Order of the Bankruptcy Court. The Purchaser Note will be Collateral for the Allowed Class 2 Claim. In the event that MCA’s Claim is allowed by the Bankruptcy Court in part or in full, the Liquidating Trustee may (i) assign the Purchaser Note to MCA, without representation or warranty, (ii) continue to make payments to the Holders of Allowed Class 2 Claims, or (iii) issue a note to MCA for the amount of their Allowed Claim with a security interest in the Purchaser Note. The Purchaser Note will be included in the Plan Supplement.

Purchaser Note means the Series 2020A-2 Master Note, issued, authenticated and delivered under the Master Indenture, which evidences and secures the obligations of the Corporation, as Obligated Group Agent on behalf of itself and each Member of the Obligated Group, under the Continuing Covenant Agreement.

Purchaser Note has the meaning set forth in SECTION 3.2 of the Sale Agreement.

Purchaser Note means that certain Senior Unsecured Promissory Note, issued in connection with the Xxx Xxxxxx Acquisition, from the Borrower to the holders party thereto in the aggregate principal amount of up to $150,000,000 and otherwise in form and substance reasonably acceptable to the Administrative Agent, as may be amended, amended and restated, refinanced, replaced or otherwise modified from time to time as permitted by this Agreement (it being agreed and understood that the form and substance of the Purchaser Note provided to the Administrative Agent prior to the Effective Date and as may be amended, amended and restated, replaced or otherwise modified from time to time as permitted by this Agreement is reasonably acceptable to the Administrative Agent).

Purchaser Note shall have the meaning as is defined in Section 2.1.2(b) of this Agreement.

Purchaser Note means a note from the Purchaser to a Seller (in the form of the Intra-Group Loan Agreement, dated as of the date of this Agreement, between the relevant Seller and the Purchaser) with an initial principal balance equal to the remaining purchase price payable by the Purchaser to the relevant Seller, as described in, and as adjusted from time to time in accordance with, clause 2.2(b);

Purchaser Note means a promissory note issued by the Purchaser to Intermediate on the Effective Date in a principal amount equal to the principal amount of the Intermediate Note, in accordance with the Purchaser Contribution Agreement;