The Bridge Note definition

The Bridge Note shall have a term of 90 days starting from the date the Borrower receives the funds from the Lender in their entirety. In the event of prepayment by the Borrower, the Lender will receive interest for the entire term of the note as set forth in Section 2(b). Any changes to the term of the note must be accordance to Section 5(c).
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Examples of The Bridge Note in a sentence

  • All outstanding principal and accrued interest on the Bridge Notes shall be due and payable by the Company on the date One Hundred Twenty (120) days from the date of original issuance of the Bridge Note (the "MATURITY DATE" or "MATURITY".) The Bridge Note shall accrue interest at the rate of ten percent (10%) per annum, compounded monthly.

  • The Bridge Note is secured by certain collateral of the Company pursuant to a security agreement (the "SECURITY AGREEMENT"), in substantially the form of EXHIBIT C attached to and incorporated into this Agreement.

  • The Bridge Note shall rank pari passu in right of payment to the 2023 Notes and the Second 2023 Notes Tranche, whether with respect to payment of principal, interest, redemption, fees, or penalties, or upon liquidation or dissolution of the Company, or otherwise.

  • All outstanding principal and accrued interest on the Bridge Notes shall be due and payable by the Company on December 31, 2003 or upon completion of an initial public offering of the Company's common stock (the "MATURITY DATE" or "MATURITY".) The Bridge Note shall accrue interest at the rate of eight percent (8%) per annum, compounded monthly.

  • The Bridge Note shall be payable to Sellers on or before two hundred seventy (270) days following Closing, accruing interest at eight percent (8%) per annum, payable in either cash or shares of the common stock of Delta, at the option of Buyers, the value of such stock being fixed at Three Dollars ($3.00) per share.

  • The Bridge Note Purchase Agreement is hereby incorporated into this Agreement by reference, and the terms of this Agreement shall be at all times subject to and conditioned on the terms of the Bridge Note Purchase Agreement.

  • The Bridge Note is secured by certain collateral of the Company pursuant to a security agreement (the "SECURITY Agreement"), in substantially the form of EXHIBIT E attached to the Memorandum and incorporated herein by reference.

  • The Bridge Note shall be dated the Second Amendment Closing Date and shall provide for payment of the Bridge Loan as specified in SECTIONS 2B.3 AND 4.1 (a) hereof.

  • The Bridge Note shall be due and payable in full upon the completion of the Company’s formation of a joint venture with a third party in relation to the Company’s gold mining property known as Mineral Ridge or a date that is nine (9) months from the Subsequent Closing, whichever is earlier, as further set forth in the Bridge Note.

  • The Bridge Note shall be dated the Closing Date and mature on the Maturity Date.

Related to The Bridge Note

  • Bridge Note means a promissory note of the Borrower payable to any Lender or its registered assigns, in substantially the form of Exhibit C-1 hereto with appropriate insertions, evidencing the aggregate Indebtedness of the Borrower to such Lender resulting from any Bridge Loans made by such Lender.

  • Convertible Note shall have the meaning ascribed to such term in Section 2.1.

  • New Note shall have the meaning assigned to such term in Section 38.

  • Existing Note means a Note (as defined in the Existing Credit Agreement) that is issued and outstanding immediately prior to the effectiveness of this Agreement.

  • Bridge Loan Agreement shall have the meaning assigned thereto in the Recitals above.