Control Note definition

Control Note means as of any date of determination, the Directing Note B Holder and the Note B held by the Directing Note B Holder, unless (i) a Control Appraisal Event has occurred or (ii) the Directing Note B Holder is a Borrower Party, in which case the “Controlling Holder” and “Control Note” shall be the Lead Note A Holder and Lead Note A, respectively. Notwithstanding anything to the contrary herein, if the Aggregate Note A Principal Balance has been reduced to zero pursuant to application of distributions pursuant to Sections 3, 4 and/or 5 hereof, as the case may be, “Controlling Holder” and “Control Note” shall mean the Directing Note B Holder and the Note B held by the Directing Note B Holder, and thereafter no change in the Controlling Holder shall be effected by reason of a Control Appraisal Event. The terms “Non-Controlling Holder” and “Non-Control Note” shall mean a Holder that is not the Controlling Holder and a Note that is not the Control Note, respectively. If more than one Person shall hold a direct interest in a Non-Control Note, the holder(s) of more than 50% of the principal amount of such Note shall designate by written notice to the other Holders one of such Persons (with respect to such Non-Control Note, the “Majority Note Holder”) to act on behalf of all such Persons holding an interest in such Note. The Majority Note Holder with respect to any Non-Control Note shall have the sole right to receive any notices which are required to be given or which may be given to the Holder of such Note pursuant to this Agreement and to exercise the rights and power given to the Holder of such Note hereunder subject to Section 10 of this Agreement, including any approval rights of the Holder of such Note; provided, that until the Majority Note Holder has been so designated, the last Person known to the Lead Note A Holder or the Controlling Holder, as the case may be, to hold more than a 50% direct interest in any Non-Control Note, as applicable, shall be deemed to be the Majority Note Holder with respect to such Note. Once the Majority Note Holder has been designated hereunder with respect to any Non-Control Note, each Holder shall be entitled to rely on such designation until it has received written notice from the holder(s) of more than 50% of the principal amount of such Note of the designation of a different Person to act as the Majority Note Holder with respect thereto. If any Borrower Party owns the entirety or a majority of any Note, then such Note shall...
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Control Note shall have the meaning assigned to such term in Section 20(d) of this Agreement.
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Control Note means Note A-1.
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Examples of Control Note in a sentence

  • Unless otherwise detailed in the Change Control Note, Arrow will send the Customer an invoice for any Additional Services, either as soon as they have been provided or at the end of the month in which they were provided.

  • The Authority shall give its response to the Change Control Note within three weeks.

  • Where a written request for a change is received from Client, Spirent shall promptly upon receipt issue a written acknowledgment to Client and, unless otherwise agreed, submit a Change Control Note (“CCN”) to Client within 10 days of the date of the request in the form attached hereto and incorporated herein as Exhibit C.

  • If any Borrower Party owns the entirety or a majority of any Note, then such Note shall not qualify as the Control Note.

  • If any Borrower Party owns less than a majority of the Control Note, then for purposes of determining the Controlling Holder, the ownership interest of such Borrower Party shall be deemed to be zero, and the owners of more than 50% of the remaining interests in such Note shall be deemed to be the Holder of such Note.

  • The terms “Non-Controlling Holder” and “Non-Control Note” shall mean a Holder that is not the Controlling Holder and a Note that is not the Control Note, respectively.

  • The Council shall give its response to the Change Control Note within three weeks.

  • A recommendation to amend this agreement by the Supplier shall be submitted directly to the Authority in the form of two copies of a Change Control Note signed by the Supplier at the time of such recommendation.

  • Where a written request for an amendment is received from the Authority, the Supplier shall, unless otherwise agreed, submit two copies of a Change Control Note (a written record of the agreed change) signed by the Supplier to the Authority within three weeks of the date of the request.

  • Any written record of the agreed change will constitute a Change Control Note signed by the Authority and by the Supplier shall constitute an amendment to this agreement.


More Definitions of Control Note

Control Note means Note B.
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Control Note means as of any date of determination, the Note B Holders (collectively) and Note B, respectively, unless (i) a
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Control Note means BCC Note A-1.
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Control Note or “CCN”: the written record of any Change agreed or to be agreed by the parties pursuant to the Change Control Procedure;
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Related to Control Note

  • Change Control Note (“CCN”) means the agreed Schedule 3 annexed to the Contract containing details of agreed Variations to the Contract.

  • Change of Control Notice means notice of a Change of Control Offer made pursuant to Section 3.8, which shall be mailed first-class, postage prepaid, to each record Holder as shown on the Note Register within 30 days following the date upon which a Change of Control occurred, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer and shall state:

  • Controlling Note means Note A-1.

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

  • Restricted Certificated Note means a Certificated Note bearing the Private Placement Legend.