Second Term Note definition

Second Term Note means the Term Promissory Note dated February 9, 2016, in the principal amount of $3,850,497.00, payable by MAALT, L.P. to the order of Lender, and all renewals, extensions, modifications, and substitutions for that note.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Second Term Note means the $2,550,000 Amended and Restated Second Term Note (which amends and restates the $3,000,000 LIBOR Amended and Restated Term Note dated October 30, 2003, issued by Borrower to Bank), as such note may be amended, modified or restated from time to time.

Second Term Note shall have the meaning given such term in Section 2.4 of this Agreement.

Examples of Second Term Note in a sentence

• Borrowers ratify and confirm the Security Documents, acknowledge that they are valid, subsisting, and binding, and agree that the Security Documents secure payment of the Notes (including the Term Note, the Revolving Note, the Second Term Note, and the Third Term Note), the Loans (including the Term Loan, the Revolving Loan, the Second Term Loan, and the Third Term Loan), and all other Secured Obligations.

• Guarantors ratify and confirm the Guaranties, acknowledge that the Guaranties are valid, subsisting, and binding upon Guarantors, and agree that the Guaranties guarantee payment of the Notes (including the Term Note, the Revolving Note, the Second Term Note, and the Third Term Note), the Loans (including the Term Loan, the Revolving Loan, the Second Term Loan, and the Third Term Loan), and all other Secured Obligations.

• The sale of the Second Term Note shall be known as the “Second Offering”.

• Under the Second Term Note, funds will be available until May 2, 2015, the maturity date of the Second Term Loan.

• The Second Term Note will mature on the Maturity Date (as defined in the Second Term Note).

More Definitions of Second Term Note

Second Term Note means the second term note referred to in Section 2.2.2 hereof.”

Second Term Note to read as follows:

Second Term Note means the promissory note in the original face amount of $7,000,000.00 dated of even date herewith, made by Borrower payable to the order of Bank, in substantially the form attached to the Fourth Amendment as Exhibit "A," together with all deferrals, renewals, extensions, amendments, modifications or rearrangements thereof, which promissory note shall evidence the advances to Borrower by Bank pursuant to Section 2.22 hereof.

Second Term Note shall have the meaning ascribed to such term in Section 2.2(a) hereof.

Second Term Note means a promissory note in the form of Exhibit C duly executed by Borrower.

Second Term Note means the Second Term Note executed by the Borrower as defined in Section 2.5.2, which is in the form attached hereto as Exhibit C.

Second Term Note shall have the meaning assigned to such term in subsection 2.2A of the Loan Agreement.