What is an amended note?
What is an amended note?
Amended Note means the promissory notes issued by the Company to the Purchaser in replacement of and full substitution for Senior Discount Notes No.
What is the effect of an amended and Restated agreement?
What is the effect of an amended and restated agreement. When you amend and restate an agreement, typically the legal effect is to replace all prior agreements between the parties and replace them with one single document providing an up-to-date view of the parties’ legal obligations.
What does it mean to restate a promissory note?
Related Definitions Restated Note means that certain Fourth Consolidated, Amended and Restated Secured Promissory Term Note in the principal amount of $1,250,000 from Borrowers to Lender together with all replacements and substitutions thereof.
What is an Amended and Restated Mortgage?
More Definitions of Amended and Restated Mortgage Amended and Restated Mortgage means each mortgage, deed to secure debt or deed of trust pursuant to which any Credit Party shall have granted to the Collateral Agent a mortgage lien on such Credit Party’s Mortgaged Property.
What makes a secured note different from an unsecured note?
A secured note may be contrasted with unsecured notes that have no such collateral. A secured note is form of loan or corporate debt that is backed by assets as collateral attached to it.
How does a secured note work in a liquidation?
As unsecured creditors have no collateral or security over the company’s assets, they rank after secured creditors in the event of a liquidation. A secured note is guaranteed by an interest in an asset that is worth at least the amount of the note.
What happens if a company defaults on a secured note?
Failure to repay can result in a default that triggers a forced liquidation of assets backing the note. Companies often sell secured notes through private placements to raise debt capital for purchases, share buybacks, and corporate growth opportunities. Corporations will commonly issue medium-term bonds, known as notes, to raise debt capital.
How are secured creditors different from unsecured creditors?
As unsecured creditors have no collateral or security over the company’s assets, they rank after secured creditors in the event of a liquidation. A secured note is guaranteed by an interest in an asset that is worth at least the amount of the note. If you have a mortgage or an automobile loan, you are the holder of a secured note.
A secured note may be contrasted with unsecured notes that have no such collateral. A secured note is form of loan or corporate debt that is backed by assets as collateral attached to it.
As unsecured creditors have no collateral or security over the company’s assets, they rank after secured creditors in the event of a liquidation. A secured note is guaranteed by an interest in an asset that is worth at least the amount of the note.
Failure to repay can result in a default that triggers a forced liquidation of assets backing the note. Companies often sell secured notes through private placements to raise debt capital for purchases, share buybacks, and corporate growth opportunities. Corporations will commonly issue medium-term bonds, known as notes, to raise debt capital.
As unsecured creditors have no collateral or security over the company’s assets, they rank after secured creditors in the event of a liquidation. A secured note is guaranteed by an interest in an asset that is worth at least the amount of the note. If you have a mortgage or an automobile loan, you are the holder of a secured note.