Existing Secured Note definition

Existing Secured Note means the Secured Promissory Note, dated April 14, 2010, issued by the Company to Timothy Looney, as in effect as of the date hereof.
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Existing Secured Note means the 8% Secured Promissory Note, dated October 1, 2021, issued by Oilco Holdings, Inc., a Nevada corporation (now known as Next Bridge Hydrocarbons, Inc.), in favor of Lender.
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Examples of Existing Secured Note in a sentence

  • The indebtedness evidenced by the Existing Secured Note is continuing indebtedness and nothing contained herein shall be deemed to constitute payment, settlement or a novation of the Existing Secured Note.

  • The Holder Representative agrees on behalf of the holders of the Notes not to seek to challenge, to avoid, to subordinate or to contest or directly or indirectly to support any other Person in challenging, avoiding, subordinating or contesting in any judicial or other proceeding, including, without limitation, any Proceeding involving the Company, the priority, validity, extent, perfection or enforceability of any lien held by the Existing Secured Note Holder or Summit in all or any part of the Collateral.

  • The Holder Representative acknowledges and agrees that the security interest granted to it in the Collateral for the benefit of the holders of the Notes is subordinated to the respective security interests of the Existing Secured Note Holder and Summit in the Collateral (to the extent that a security interest in the Collateral has been granted to such Person) in the manner and pursuant to the terms set forth in this Section 9.

  • A supplemental indenture to the Existing Secured Note Indenture shall be executed by the Trustee, the Company and the other parties thereto promptly after the requisite consents for the Proposed Amendments under the Existing Secured Indenture are received, but the Proposed Amendments shall not be operative until a Secured Exchange Settlement Date has occurred.

  • The Holder Representative acknowledges that the Existing Secured Note Holder has been granted a security interest in the Collateral and that Summit has been granted a security interest in a portion of the Collateral.

  • It is a requirement of the Existing Secured Note, the New Secured Notes and of the Summit Consent Letter that the liens or security interests securing the Notes be subordinate and junior to the liens and security interests securing the Indebtedness of the Company in respect of the Existing Secured Note, the New Secured Notes and the Summit Debt, respectively.

  • The Holder Representative agrees promptly to execute and deliver to the Company, the Existing Secured Note Holder or Summit (as applicable) such termination statements, releases and other documents as the Existing Secured Note Holder or Summit (as applicable) may reasonably require to effectively confirm such release.

  • It is a requirement of the Existing Secured Note and of the Summit Consent Letter that the liens or security interests securing the Notes be subordinate and junior to the liens and security interests securing the Indebtedness of the Company in respect of the Existing Secured Note and the Summit Debt, respectively.

  • This Note amends and restates that certain Secured Promissory Note issued January 19, 1999 by the Borrower to the Payee (the "Existing Secured Note") and shall be in substitution for and replacement of the Existing Secured Note.

  • This Note amends and restates that certain Secured Promissory Note issued January 20, 2000 by the Borrower to the Payee (the "Existing Secured Note") and shall be in substitution for and replacement of the Existing Secured Note.

Related to Existing Secured Note

  • Existing Secured Notes means the Company’s 5.50% Senior Secured Notes due 2028 issued pursuant to the Existing Secured Notes Indenture.

  • Existing Security means any Security granted by any Person over its Assets in respect of any Relevant Indebtedness and which is existing at the relevant Issue Date or at the time any such Person becomes a Material Subsidiary or whose business and/or activities, in whole or in part, are assumed by or vested in the Issuer or a Material Subsidiary after the relevant Issue Date (other than any Security created in contemplation thereof) or any substitute Security created over those Assets (or any part thereof) in connection with the refinancing of the Relevant Indebtedness secured on those Assets provided that the principal, nominal or capital amount secured on any such Security may not be increased;

  • Existing Senior Notes means the Existing 2020 Senior Notes and the Existing 2021 Senior Notes, collectively.

  • Existing Senior Secured Notes means the Borrower’s $800,000,000 8.500% Senior Secured Notes due 2019, issued pursuant to the Existing Senior Secured Notes Indenture.

  • Existing Security Documents shall have the meaning assigned to such term in the recitals hereto.