Settlement Note definition

Settlement Note means the $2.5 million senior unsecured note to be issued by Reorganized Hexion on the Effective Date to the Consenting Sponsors, which shall (i) mature on March 31, 2020, (ii) be payable upon any public offering or listing of New Common Equity (or any other equity interests of the Reorganized Debtors) on The Nasdaq Global Select Market, The New York Stock Exchange, or any successor national securities exchanges, on or after the Effective Date, (iii) be freely transferrable by the holder, and (iv) contain other terms and conditions reasonably acceptable to the Required Consenting Parties.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Settlement Note means the note to be issued by Verizon and made payable to Seller at Closing, in the form appended as Exhibit B, in an amount equal to the principal amount of the Vodafone B.V. Inc. Note plus accrued interest, which shall be settled in accordance with Section 5.19.

Settlement Note means that component of the Settlement Fund represented by a $5 million Promissory Note with a 5% interest rate and a 30- month maturity and secured by the collateral outlined in the Security Agreement.

Examples of Settlement Note in a sentence

• The Parties further acknowledge and agree that, in connection with the Chapter 11 Cases and the negotiation and consummation of this Agreement, the Settlement Note Holders, at all times, acted (a) in good faith and (b) solely for themselves and not on behalf of or in representation of any other creditors, bondholders or other parties in interest.

• The Debtors, JPMC, the FDIC Receiver, FDIC Corporate, the Creditors’ Committee and the Settlement Note Holders acknowledge and agree that the acceptance of the Plan will not be solicited until the Bankruptcy Court has approved the Disclosure Statement and related ballots, and such Disclosure Statement and ballots have been transmitted to parties entitled to receive same.

• The terms and conditions of this Agreement, the Settlement Note and the Pledge Agreement (collectively, the “Settlement Agreements”) and all correspondence relating to the Settlement Agreements are confidential.

• The joint and several obligation of Borrowers to repay such Settlement Loans to Wachovia shall be evidenced by the Settlement Note and the records of Wachovia.

• The Cellcast Parties agree that the BIMI Parties shall not be considered in default of such Settlement Note or in breach of this Agreement due to any late or missed payment under the Settlement Note if such late or missed payments are a result of the Cellcast Parties’ failure to maintain, and/or communicate the appropriate particulars on, the Designated Account.

• Any payments made by Trustor to Beneficiary for the release will be credited against the principal on the Settlement Note only upon actual receipt of the funds by Beneficiary.

• Consenting Sponsor Claim Settlement Subject to and upon the occurrence of the Effective Date, the Consenting Sponsors shall receive the Settlement Note, in full satisfaction, compromise, and discharge of any General Unsecured Claims held by such Consenting Sponsors as of the Effective Date other than any Claims arising under or related to the Debtors’ indemnification provisions or director and officer insurance policies (the “Consenting Sponsor Claim Settlement”).

• Until paid to Beneficiary, all such sums will bear interest from the date billed at the rate of interest set forth in the Settlement Note.

• Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇ Email: ▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇ If to the Settlement Note Holders: ▇▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇ ▇.

• Daily Settlement Note - a report issued by BRM to the Participant as provided for in this Agreement.

More Definitions of Settlement Note

Settlement Note has the meaning specified in the Transaction Agreement.

Settlement Note means the Settlement Note to be executed by Borrowers on or before the Closing Date in favor of Fleet Capital, which shall be in the form of EXHIBIT C attached hereto and which shall evidence all Settlement Loans made by Fleet Capital to Borrowers pursuant to this Agreement.

Settlement Note means a secured promissory note in the amount of $2,710,000.00, dated the date hereof, with Dunes as maker and Pledgee as payee, and all amendments, modifications and extensions of such note. "Income and Proceeds" means all present and future income, proceeds, substitutions from or for the Collateral of every kind and nature, including without limitation, all principal payments, interest, proceeds of any insurance on the Collateral, condemnation awards from any of the real property encumbered by the SHF Deeds of Trust, and all other real or personal property Pledgor is entitled to receive on account of such Collateral.

Settlement Note means a Municipal Tranche Settlement Note or a Structured Tranche Settlement Note.

Settlement Note means a promissory note from an Account Debtor to a Grantor evidencing such Account Debtor’s obligation to pay Accounts that are past due when the terms of such note are approved by such Grantor.

Settlement Note is hereby changed to "Settlement Promissory Note."