SUB-NOTES definition
SUB-NOTES have the meanings assigned to such terms in Item I1 of this Agreement.
SUB-NOTES means the Senior Sub Notes.
SUB-NOTES. On the Effective Date, the outstanding principal amount of the 12% Senior Subordinated Notes due 2006 (the "Sub-Notes") including all accrued and unpaid interest thereon, will be converted into:
More Definitions of SUB-NOTES
SUB-NOTES means the promissory notes executed and delivered by the Borrower to the Bank from time to time to evidence the Advances made pursuant to the Non-Restoring Credit Facility during a specific timeframe which are to be amortized as a separate tranche in accordance with Section 2.3 of this Agreement. TANGIBLE CAPITAL BASE means, for the applicable period, Tangible Net Worth plus Subordinated Debt. TANGIBLE NET WORTH means, for the applicable period, Stockholders' Equity, minus Intangible Assets.