Sponsor Note definition

Sponsor Note means the convertible promissory note entered into by Galileo and its Sponsor on December 14, 2020, pursuant to which the Sponsor agreed to loan Galileo up to an aggregate principal amount of $500,000, which note is convertible at the option of the Sponsor into warrants with the same terms as the Private Warrants at a price of $1.00 per warrant.

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Sponsor Note means the promissory note dated November 2, 2020 pursuant to which the Sponsor loaned the Company $1,500,000 and agreed to convert any unpaid balance of the Sponsor Note into the Working Capital Warrants;

Sponsor Note means that certain Revolving Promissory Note, dated as of October 11, 2022, issued by the Purchaser in favor of the Sponsor in the original principal amount of up to $1,000,000.

Examples of Sponsor Note in a sentence

Notwithstanding the foregoing or anything to the contrary provided herein, a holder of a beneficial interest in a Note that is not a Sponsor Note may not exchange or transfer such beneficial interest for a beneficial interest in a Sponsor Note, but a holder of a beneficial interest in a Sponsor Note may, at any time, exchange or transfer such beneficial interest for a beneficial interest in a Note that is not a Sponsor Note.
If the Company is unable to consummate an initial Business Combination, the Sponsor Note would be repaid only out of funds held outside of the Trust Account.
Notwithstanding the foregoing or anything to the contrary provided herein, a holder of a beneficial interest in a Note that is not a Sponsor Note may not exchange or transfer such beneficial interest for a beneficial interest in a Sponsor Note but a holder of a beneficial interest in a Sponsor Note may, at any time, exchange or transfer such beneficial interest for a beneficial interest in a Note that is not a Sponsor Note.
Following the assignment and delivery of the WinVest Notes to the Company pursuant to Section 8.03(g), the Company shall have delivered to Sponsor a written acknowledgement, in form and substance satisfactory to WinVest, that assignment and delivery of such WinVest Notes to the Company satisfies the Sponsor Note.
Such supplemental indenture described in the second immediately preceding paragraph shall provide for the Sponsor Note, and anti-dilution and other adjustments that shall be as nearly equivalent as is possible to the adjustments provided for in this Article 13.

More Definitions of Sponsor Note

Sponsor Note means that certain Promissory Note, dared November 21, 2024, issued by the Purchaser to the Sponsor for an aggregate principal amount up to $2,500,000.

Sponsor Note means that certain 20% Amended and Restated Unsecured Subordinated Note due July 31, 2017 dated as of July 26, 2013 executed by the Parent and payable to the order of the Sponsor, in the original aggregate principal amount of $14,165,188.65, which Amended and Restated Unsecured Subordinated Note amends and restates that certain 20% Unsecured Subordinated Note due January 12, 2016, dated as of the date hereof, executed by Parent to the order of the Sponsor, in the original aggregate principal amount of $15,000,000, as the same may be amended from time to time in accordance with the terms hereof and of the Subordination Agreement and Section 10.2.11 (Restriction of Amendments to Certain Documents) hereof. Sponsor Note Agreement: that certain Subordinated Note Purchase Agreement dated as of the date hereof among Sponsor and Parent, as amended by the Sponsor Note Agreement Amendment, and as such agreement may be amended in accordance with the terms hereof and of the Subordination Agreement and Section 10.2.11 (Restriction of Amendments to Certain Documents) hereof.

Sponsor Note means that certain promissory note executed by Borrowers in favor of Sponsor in the principal amount of $12,000,000 (plus paid in kind interest added thereto), as amended, restated, supplemented or otherwise modified from time to time (so long as such amendment, restatement, supplement or modification is not prohibited by this Agreement or the Subordination Agreement).

Sponsor Note that certain $10,000,000 aggregate principal amount 15% junior subordinated note of the Borrower due and payable to MEM Holdings, LLC (plus approximately $1,900,000 of accrued interest as of the Original Closing Date).

Sponsor Note. The Convertible Promissory Note given by the Borrower in favor of the Sponsor in the amount of $5,000,000.

Sponsor Note has the meaning set forth in the recitals to this Agreement.