Revolving Grid Note definition

Revolving Grid Note means any note in the form of Exhibit A attached hereto.
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Revolving Grid Note means any note in the form of Exhibit A attached hereto. 25. "Security Agreement" shall be the document in the form attached hereto as Exhibit P. 26. "Senior Debt" means any debt of Pioneer which is not Subordinated Debt and is owed to any Bank or other lender which is a party hereto at the time such debt is incurred and is evidenced by an Amortizing Note, a Revolving Grid Note, a Single Pay Term Note, or which is listed on Exhibit K attached hereto. Senior Debt shall also include unsecured indebtedness payable to Pioneer Financial Industries, Inc. in an aggregate outstanding principal amount not to exceed at any time the greater of (i) Two Million Dollars ($2,000,000) or (ii) 2.5% of the outstanding principal amount of Senior Debt. 27. "Single Pay Term Note" shall mean any note in the form of Exhibit C attached hereto. 28. "Southwest" shall mean Southwest Bank of St. Louis, St. Louis, Missouri. 29. "Subordinated Debt" shall mean any unsecured debt of Pioneer, payment of which is subordinated to payment of all Senior Debt and which is evidenced by a note generally in the form of Exhibit M attached hereto or other form approved by the Banks or generally in the form of Exhibit M to the Prior Agreement (as hereinafter defined). 30. "Subsidiary" shall mean each of the operating companies which are owned by Pioneer and which are listed on Exhibit D attached hereto and each operating company which Pioneer owns at any time hereafter except Pioneer Military Insurance Company. 31. "Subsidiary Revolving Grid Note" shall mean all notes in the form of Exhibit E attached hereto. 7 <page> 32. "Tangible Net Worth" shall mean (i) the sum of the book value of all common stock, the liquidation value of all preferred stock, the principal amount of all Subordinated Debt of every class, and the amount of all loan loss reserves and all dealer loss reserves, less (ii) the aggregate amount of all notes payable to Subsidiaries of Pioneer except Pioneer Military Insurance Company which are delinquent by recency of payment of ninety (90) calendar days or more. For purposes of this Agreement, a payment on a note payable to a Subsidiary of Pioneer in an amount equal to at least ninety-five percent (95%) of the amount of the payment being made shall constitute full payment of such payment. 33. "Total Indebtedness" shall mean the sum of (i) all Senior Debt and (ii) all Subordinated Debt of every class. 34. "Total Required Capital" shall mean the sum of (i) the book value of all common s...
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Examples of Revolving Grid Note in a sentence

  • All Revolving Grid Notes shall bear interest per annum at the prime rate of interest as reported from time to time under Money Rates in the Wall Street Journal, adjusted daily; provided, however, Pioneer shall have the right from time to time to increase such rate of interest in response to changing market conditions so long as the rate of interest on all existing Senior Debt which is payable to any Bank and which is evidenced by a Revolving Grid Note also is increased to this new rate.

  • Pioneer hereby grants to all of the Banks a security interest in all notes payable to Pioneer by any and all of its Subsidiaries now or at any time hereafter in the form of the Subsidiary Revolving Grid Note or otherwise.

  • From time to time during the term hereof, Pioneer may submit to any of the Banks a request for extensions of credit to be evidenced by a Revolving Grid Note, an Amortizing Note, or a Single Pay Term Note.

  • From time to time during the term hereof Pioneer may submit to any of the Banks a request for extensions of credit to be evidenced by a Revolving Grid Note, an Amortizing Note, or a Single Pay Term Note.

  • From time to time during the term hereof, the Borrowers may submit to any of the Banks a request for extensions of credit to be evidenced by a Revolving Grid Note, an Amortizing Note, or a Single Pay Term Note.

  • All Revolving Grid Notes shall bear interest per annum at the prime rate of interest as reported from time to time under Money Rates in the Wall Street journal, adjusted daily; provided, however, Pioneer shall have the right from time to time to increase such rate of interest in response to changing market conditions so long as the rate of interest on all existing Senior Debt which is payable to any Bank and which is evidenced by a Revolving Grid Note also is increased to this new rate.

  • The Stockholders acknowledge and agree that iAlarm shall have forgiven the Revolving Grid Note in favor of Elevate in a principal amount up to $600,000, and any amounts owed thereunder from Elevate, as of the Closing Date.

  • Company has borrowed funds and may borrow additional funds through subsequent advances, from Secured Party pursuant to a Revolving Grid Note of even date herewith (the "Note") the terms of which are incorporated herein by reference.

  • All Revolving Grid Notes shall bear interest per annum at the prime rate of interest as reported from time to time under Money Rates in the Wall Street Journal, adjusted daily; provided, however, the Borrowers shall have the right from time to time to increase such rate of interest in response to changing market conditions so long as the rate of interest on all existing Senior Debt which is payable to any Bank and which is evidenced by a Revolving Grid Note also is increased to this new rate.

  • Pioneer hereby grants to the Agent for the benefit of the Banks and other holders of Notes a security interest in all notes payable to Pioneer by any and all of its Subsidiaries now or at any time hereafter in the form of the Subsidiary Revolving Grid Note or otherwise and will execute and deliver a Security Agreement in the form of Exhibit J attached hereto to further evidence such security interest.

Related to Revolving Grid Note

  • Revolving Credit Note means a promissory note of the Borrower payable to any Revolving Credit Lender or its registered assigns, in substantially the form of Exhibit D-2 hereto, evidencing the aggregate Indebtedness of the Borrower to such Revolving Credit Lender resulting from the Revolving Credit Loans made by such Revolving Credit Lender to the Borrower.

  • Revolving Credit Commitment Fee shall have the meaning assigned to such term in Section 2.05(a).

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Revolving Note means a promissory note of the Borrower payable to a Lender in substantially the form of Exhibit 11.1(d) hereto, evidencing Indebtedness of the Borrower under the Revolving Loan Commitment of such Lender.

  • Revolving Credit Notes means the separate Revolving Credit Notes made by the Borrower payable to the order of each Lender, substantially in the form of Exhibit A hereto, evidencing the Credit Facility, and any amendments and modifications thereto, any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part; "Note" means any of such Revolving Credit Notes.