Serial Note definition
Examples of Serial Note in a sentence
No Serial Note of a particular Note Series may be assigned unless all other Serial Notes of such Note Series are assigned at the same time and to the same Person.
After the issuance of a Disbursement Approval with respect to a Disbursement, the Guarantee with respect to such Disbursement shall be binding on Ex-Im Bank even though payment under the relevant Note or Serial Note of such Note Series is held to be unenforceable, except to the extent provided in Sections 4.04, 4.05 and/or 4.06.
CFSR I agrees to sell any and all subsequent Student Loans made to the same Borrower ("Serial Loans") after an initial sale of the Borrower's Note(s), and MOHELA further agrees to purchase any and all such Serial Loans prior to the newly determined graduation date or upon notification from CFSR I, provided the Serial Note meets all eligibility requirements as of the Sale Date.
The proposed Transaction will be structured as follows: Credit: A Political Risk Guarantee, pursuant to Section 2 below, under an Ex-Im Bank Credit between the Lender and Ex-Im Bank, with [choose one]: an individual Serial Note for each installment of principal [only permitted if the Borrower is in a Note Series Jurisdiction]; one Single Disbursement Note for each Disbursement; or one Global Note for all Disbursements.
The first Serial Note in a Note Series shall be payable on the first Repayment Date as specified in the relevant Ex-Im Bank Approval and each of the remaining Serial Notes in a Note Series shall be payable consecutively in series semiannually thereafter on each subsequent Repayment Date.