Subordinated Note definition

Subordinated Note means the Subordinated Note (or collectively, the “Subordinated Notes”) in the form attached as Exhibit A hereto, as amended, restated, supplemented or modified from time to time, and each Subordinated Note delivered in substitution or exchange for such Subordinated Note.

Subordinated Note means a promissory note in substantially the form of Exhibit VI hereto as more fully described in Section 1.2 of the Agreement, as the same may be amended, restated, supplemented or otherwise modified from time to time.

Subordinated Note or “Subordinated Notes” means the Initial Notes and the Exchange Notes and, more particularly, any Subordinated Note authenticated and delivered under this Indenture, including those Subordinated Notes issued or authenticated upon transfer, replacement or exchange.

Examples of Subordinated Note in a sentence

• Each of the Subordinated Notes are owned directly by an Originator, free and clear of any Adverse Claim (other than (i) Permitted Adverse Claims and (ii) any Adverse Claim in favor of the Gray Credit Agreement Agent but only so long as the Gray Credit Agreement Agent is not foreclosing on or otherwise challenging the enforceability of any Subordinated Note or any provision thereof).

• Paragraph captions used in this Subordinated Note are for convenience only and shall not affect the meaning or interpretation of any provision of this Subordinated Note.

• The obligations under this Subordinated Note are expressly subordinated in right of payment to the payment and performance of the Senior Interests, and any payment hereunder is pari passu in right of payment and performance to all other Junior Liabilities, to the extent and in the manner set forth in the following clauses of this paragraph 9 (the “Subordination Provisions”).

• This Subordinated Note is one of the Subordinated Notes described in, and is subject to the terms and conditions set forth in, that certain Receivables Sale Agreement dated as of February 23, 2023 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Receivables Sale Agreement”), among the Buyer, Gray Television, Inc., as Master Servicer, the Originator, and the other originators from time to time party thereto.

• No Holder may sell, assign, transfer, pledge, hypothecate or otherwise transfer its rights and obligations under this Subordinated Note to any Person other than the Gray Credit Agreement Agent.

More Definitions of Subordinated Note

Subordinated Note has the meaning set forth in the Purchase and Sale Agreement.

Subordinated Note has the meaning set forth in the Sale Agreement.

Subordinated Note shall have the meaning given such term in Section 2.01(c) of the Sale Agreement.

Subordinated Note means each revolving promissory note issued by the Seller to the Originator under the Purchase Agreement.

Subordinated Note has the meaning specified therefor in the Recitals hereto.

Subordinated Note means the Borrower's Promissory Note, dated as of July 1, 2005, payable to the order of the Subordinated Creditor in the original principal amount of $600,000 together with all renewals, extensions and modifications thereof and any note or notes issued in substitution therefor.

Subordinated Note means that certain $[ ] subordinated promissory note, dated [ ], issued by Borrower to Subordinated Creditor, as amended, restated, supplemented or otherwise modified from time to time.