Common use of Description of Notes Clause in Contracts

Description of Notes. The Company has authorized the issuance and sale of $100,000,000 aggregate principal amount of its Senior Notes (the "Notes"), to be dated the date of issuance, to bear interest from such date (computed on the basis of a 360-day year comprised of twelve 30-day months), payable semi-annually on June 15 and December 15 of each year, commencing June 15, 1993, and at maturity, at the following rates: (i) $73,500,000 aggregate principal amount of the Notes (the "Series A Notes") shall bear interest at the rate of 7.15% per annum prior to maturity and shall bear interest on any overdue principal (including any overdue optional or required prepayment), on any overdue Make-Whole Amount, and (to the extent legally enforceable) on any overdue installment of interest at the rate of 9.15% per annum; and (ii) $26,500,000 aggregate principal amount of the Notes (the "Series B Notes") shall bear interest at the rate of 7.63% per annum prior to maturity and shall bear interest on any overdue principal (including any overdue optional or required prepayment), on any overdue Make-Whole Amount, and (to the extent legally enforceable) on any overdue installment at the rate of 9.63% per annum. The Notes shall be expressed to mature on December 15, 1999 and the Series A Notes and Series B Notes shall be substantially in the forms attached as Exhibits A and B, respectively. The term "Notes" as used herein shall include each Note delivered pursuant to this Note Agreement (the "Agreement") and each Note delivered in substitution or exchange therefor and, where applicable, shall include the singular number as well as the plural. Any reference to you in this Agreement shall in all instances be deemed to include any nominee of yours or any separate account or other person on whose behalf you are purchasing Notes. You and the other purchasers are sometimes referred to herein individually as a "Purchaser" and collectively as the "Purchasers."

Description of Notes. The Company has authorized will authorize the issuance issue and sale of $100,000,000 20,000,000 aggregate principal amount of its 7.27% Senior Notes (the "NotesNOTES"), ) to be dated the date of issuanceissue, to bear interest from such date (computed on the basis of a 360-day year comprised of twelve 30-day months), payable semi-annually on June 15 and December 15 of each year, commencing June 15, 1993, and at maturity, at the following rates: (i) $73,500,000 aggregate principal amount of the Notes (the "Series A Notes") shall bear interest at the rate of 7.157.27% per annum prior to annum, payable semiannually on the first day of each February and August in each year (commencing on the first such day after the date of issue) and at maturity and shall to bear interest on any overdue principal (including any overdue required or optional or required prepayment)prepayment of principal) and premium, on any overdue Make-Whole Amountif any, and (to the extent legally enforceable) on any overdue installment of interest at the rate of 9.15% per annum; and (ii) $26,500,000 aggregate principal amount of the Notes (the "Series B Notes") shall bear interest at the rate of 7.639.27% per annum prior after the due date thereof, whether by acceleration or otherwise, until paid, to maturity and shall bear interest on any overdue principal (including any overdue optional or required prepayment), on any overdue Make-Whole Amount, and (to the extent legally enforceable) on any overdue installment at the rate of 9.63% per annum. The Notes shall be expressed to mature on December 15February 1, 1999 2003, and the Series A Notes and Series B Notes shall to be substantially in the forms form attached hereto as Exhibits A Exhibit A. Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. If any amount of principal, premium, if any, or interest on or in respect of the Notes becomes due and Bpayable on any date which is not a Business Day (as defined in 8.1), respectivelysuch amount shall be payable on the immediately preceding Business Day. The Notes are not subject to prepayment or redemption at the option of the Company prior to their expressed maturity date except on the terms and conditions and in the amounts and with the premium, if any, set forth in 2 of this Agreement. The term "NotesNOTES" as used herein shall include each Note delivered pursuant to this Note Agreement (and the "Agreement") and each Note delivered separate agreements with the other purchasers named in substitution or exchange therefor and, where applicable, shall include the singular number as well as the plural. Any reference to you in this Agreement shall in all instances be deemed to include any nominee of yours or any separate account or other person on whose behalf you are purchasing NotesSchedule I hereto. You and the other purchasers Purchasers named in Schedule I hereto are hereinafter sometimes referred to herein individually as a "Purchaser" and collectively as the "PurchasersPURCHASERS". The terms which are capitalized herein shall have the meanings set forth in 8.1 hereof unless the context shall otherwise require."

Description of Notes. The Company has authorized will authorize the issuance issue and sale of $100,000,000 29,000,000 aggregate original principal amount of its 13.75% Senior Secured Bridge Notes due April 28, 2000 (the "Notes"), ) to be dated the date of issuance, to bear interest from such date (computed issue. Interest on the basis Notes will accrue at the lower of a 360-day year comprised of twelve 30-day months(i) 13.75% per annum (as adjusted pursuant to the next succeeding sentence, the "Base Interest Rate") and (ii) the highest rate permitted by law (such lower amount being referred to as the "Interest Rate"), and will be payable semi-annually on June 15 April 28th and December 15 October 28th of each year, commencing June 15on October 28, 19931998, and at maturity. On the twelve-month anniversary of the Closing Date, and at the following rates: end of each subsequent one hundred eighty (i180) $73,500,000 aggregate day period, the Base Interest Rate will increase by 200 basis points, up to a maximum Base Interest Rate of 18.0%. The interest shall be payable at the option of the Company (x) in kind by the issuance to the holders thereof of separate promissory notes (each an "Interest Note," and, collectively, the "Interest Notes"), in each case having a principal amount equal to the amount of interest due and payable on such holder's outstanding Notes on such interest payment date, or (y) in cash; provided that -------- the Company will only be entitled to pay such interest in cash if it has irrevocably notified in writing the holders of the Notes of its intention to make a cash interest payment at least ten (10) Business Days before the "Series A Notes") relevant interest payment date, it being agreed that payment in kind via Interest Notes is the default interest payment method in the absence of such notice. Interest on Interest Notes shall bear interest accrue at the rate of 7.15% same Interest Rate per annum prior to maturity and shall bear be payable in kind by the issuance of additional Interest Notes or in cash as provided above on the same date as interest is payable in kind or in cash as provided above on any overdue the Notes. The unpaid principal balance of all Notes (including any overdue optional or required prepaymentInterest Notes), together with accrued but unpaid interest thereon, shall be due and payable in cash on any overdue Make-Whole Amount, and (to the extent legally enforceable) on any overdue installment stated date of interest at the rate of 9.15% per annum; and (ii) $26,500,000 aggregate principal amount maturity of the Notes (the "Series B Notes") shall bear interest at the rate of 7.63% per annum prior to maturity and shall bear interest on any overdue principal (including any overdue optional or required prepayment), on any overdue Make-Whole Amount, and (to the extent legally enforceable) on any overdue installment at the rate of 9.63% per annum. The Notes shall be expressed to mature on December 15, 1999 and the Series A Notes and Series B Notes shall be substantially in the forms attached as Exhibits A and B, respectively. The term "Notes" as used herein shall include each Note delivered pursuant to this Note Agreement (the "Agreement") and each Note delivered in substitution or exchange therefor and, where applicable, shall include the singular number as well as the plural. Any reference to you in this Agreement shall in all instances be deemed to include any nominee of yours or any separate account or other person on whose behalf you are purchasing Notes. You and the other purchasers are sometimes referred to herein individually as a "Purchaser" and collectively as the "Purchasers."

Description of Notes. (a) This Amended and Restated Note Agreement (the "Agreement") amends and restates that certain Note Agreement dated as of November 15, 1996, the notes issued thereunder between the Company, the Guarantor, and the Purchasers named therein, and shall not constitute a novation of such Note Agreement or all or any portion of the indebtedness evidenced thereby. The Company has authorized the issuance and sale of $100,000,000 35,000,000 aggregate principal amount of its Senior Notes (the "Notes"), to be dated the date of issuance, to bear interest from such date (computed on at the basis rate of a 360-day year comprised of twelve 30-day months)7.49% per annum prior to maturity, payable semi-annually on June 15 the first day of November and December 15 May of each year, commencing June 15May 1, 19931997, and at maturity, at the following rates: (i) $73,500,000 aggregate principal amount of the Notes (the "Series A Notes") shall bear interest at the rate of 7.15% per annum prior to maturity and shall bear interest on any overdue principal (including any overdue required or optional or required prepayment), on any overdue Make-Whole Amountpremium, if any, and (to the extent legally enforceable) on any overdue installment of interest at the greater of (a) the rate of 9.15interest publicly announced by The Chase Manhattan Bank (or its successors or assigns) as its "prime rate" plus one percent (1%) or (b) 9.49% per annum; and (ii) $26,500,000 aggregate principal amount of the Notes (the "Series B Notes") shall bear interest at the rate of 7.63% per annum prior , to maturity and shall bear interest on any overdue principal (including any overdue optional or required prepayment), on any overdue Make-Whole Amount, and (to the extent legally enforceable) on any overdue installment at the rate of 9.63% per annum. The Notes shall be expressed to mature on December 15November 1, 1999 2008 and the Series A Notes and Series B Notes shall to be substantially in the forms form attached as Exhibits A and B, respectively. Exhibit A. The term "Notes" as used herein shall include each Note delivered pursuant to this Note Agreement (the "Agreement") and each Note delivered in substitution or exchange therefor and, where applicable, shall include the singular number as well as the plural. Any reference to you in this Agreement shall in all instances be deemed to include any nominee of yours or any separate account or other person on whose behalf you are purchasing Notes. You and the other purchasers are sometimes referred to herein individually as a "Purchaser" and collectively and, together with the other Purchaser, as the "Purchasers."

Description of Notes. This Amended and Restated Note Agreement (the "Agreement") amends and restates that certain Note Agreement dated as of January 1, 1992, the notes issued thereunder between the Company and the Purchasers named therein, and shall not constitute a novation of such Note Agreement or all or any portion of the indebtedness evidenced thereby. The Company has authorized the issuance and sale of $100,000,000 30,000,000 aggregate principal amount of its Senior Notes (the "Notes"), to be dated the date of issuance, to bear interest from such date (computed on at the basis rate of a 360-day year comprised of twelve 30-day months)8.52% per annum prior to maturity, payable semi-annually on June 15 the fifteenth day of July and December 15 January of each year, commencing June July 15, 19931992, and at maturity, at the following rates: (i) $73,500,000 aggregate principal amount of the Notes (the "Series A Notes") shall bear interest at the rate of 7.15% per annum prior to maturity and shall bear interest on any overdue principal (including any overdue required or optional or required prepayment), on any overdue Make-Whole Amountpremium, if any, and (to the extent legally enforceable) on any overdue installment of interest at the greater of (a) the rate of 9.15interest publicly announced by The Chase Manhattan Bank (or its successors or assigns) as its Prime Rate plus one percent (1%) or (b) 10.52% per annum; and (ii) $26,500,000 aggregate principal amount of the Notes (the "Series B Notes") shall bear interest at the rate of 7.63% per annum prior , to maturity and shall bear interest on any overdue principal (including any overdue optional or required prepayment), on any overdue Make-Whole Amount, and (to the extent legally enforceable) on any overdue installment at the rate of 9.63% per annum. The Notes shall be expressed to mature on December January 15, 1999 2002 and the Series A Notes and Series B Notes shall to be substantially in the forms form attached as Exhibits A and B, respectively. Exhibit A. The term "Notes" as used herein shall include each Note delivered pursuant to this Note Agreement (the "Agreement") and each Note delivered in substitution or exchange therefor and, where applicable, shall include the singular number as well as the plural. Any reference to you in this Agreement shall in all instances be deemed to include any nominee of yours or any separate account or other person on whose behalf you are purchasing Notes. You and the other purchasers are sometimes referred to herein individually as a "Purchaser" and collectively and, together with the other Purchaser, as the "Purchasers."" The obligations of the Company hereunder and under the Notes shall be guaranteed by the Subsidiary Guarantors pursuant to the Subsidiary Guarantees.

Description of Notes. The Company has authorized the issuance and sale of $100,000,000 aggregate principal amount of its Senior Notes (the "Notes"), to shall be dated the date of issuanceClosing Date, to shall bear interest from such date (computed at the rate of 11.12% per annum prior to maturity, payable monthly on the basis of a 360-first day year comprised of twelve 30-day months), payable semi-annually on June 15 and December 15 of each yearcalendar month commencing April 1, commencing June 15, 19931994, and at maturity, at the following rates: (i) $73,500,000 aggregate principal amount of the Notes (the "Series A Notes") shall bear interest at the rate of 7.15% per annum prior to maturity and shall bear interest on any overdue principal (including any overdue required or optional or required prepayment), on any overdue Make-Whole Amountpremium, if any, and (to the extent legally enforceable) on any overdue installment of interest at the rate of 9.1513.12% per annum; and (ii) $26,500,000 aggregate principal amount of the Notes (the "Series B Notes") shall bear interest at the rate of 7.63% per annum prior to maturity and shall bear interest on any overdue principal (including any overdue optional or required prepayment), on any overdue Make-Whole Amount, and (to the extent legally enforceable) on any overdue installment at the rate of 9.63% per annum. The Notes shall be expressed to mature on December 151, 1999 2000 and the Series A Notes and Series B Notes shall to be substantially in the forms form attached as Exhibits A Exhibit A. Provided, however, that as long as (1) the Company is not in default of this Note Agreement and Bhas a Consolidated Adjusted Net Worth that equals or exceeds $15,000,000 (as evidenced by delivery to Purchaser by Company of a certificate required under Section 6.6) and (2) the annual rate of interest on all money loaned to the Company by NBD under the New Facility Note (or any replacement facility) does not exceed the Prime Rate, respectivelyas defined in the original Amended and Restated Credit Agreement and Amendment to Term Loan Agreement, dated as of January 26,1996, between the Company and NBD (the "New Bank Agreement"), then the Notes shall bear interest at a rate of 10.87% per annum, payable monthly on the first day of the calendar month, commencing on the first day of the calendar month following the month in which the Company fulfills all the above conditions until such time as any of the above conditions are not met. If above conditions are not met, then the interest rate shall revert to 11.12% or 13.12%, whichever is applicable. Notwithstanding anything to the contrary herein or in the Notes, the July, 1996 Payment (as defined in Section 2.1) shall earn interest at a rate of 13.12% per annum from February 1, 1996 until paid in full. Each required prepayment of principal shall be considered to be overdue if it is not paid on its due date notwithstanding any Forbearance Default. The term "Notes" as used herein shall include each Amended and Restated Note delivered pursuant to this Note Agreement (the "Agreement") and each Note delivered in substitution or exchange therefor and, where applicable, shall include the singular number as well as the plural. Any reference to you the Purchaser in this Agreement shall in all instances be deemed to include any nominee of yours the Purchaser or any separate account or other person on whose behalf you are purchasing the Purchaser has acquired the Notes and any Person to whom a Note is assigned. Concurrently with the execution and delivery to it of the Notes. You , each of the 1990 Notes shall be marked by Purchaser with the following legend: "This Note has been amended and, as amended, restated by a promissory note executed pursuant to an Amended and Restated Note Agreement, dated as of March 24, 1994, executed by Hurco Companies, Inc. and the other purchasers are sometimes referred to herein individually as a "Purchaser" and collectively as the "Purchaserspayee hereof."