Note

Note. Means this Convertible Subordinate Note and all amendments made hereto in accordance with the provisions hereof.

Note. Shall mean a promissory note of Borrower in favor of Lender evidencing Borrower's obligations to Lender with respect to the Loan Agreement.

Note. Means each senior, secured, convertible loan note issued by Issuer to a Purchaser pursuant to this Agreement, and Notes means some or all such Notes together, as the context requires.

Note. Has the meaning set forth in the Introduction hereto, together with any replacement or substitution therefor.

Note. The Promissory Note of the Borrower to the Bank in the original principal amount of $18,000,0000 dated as of even date herewith, which Note evidences the loan described in the Loan Agreement. 1

Note. Means the promissory note of the Borrower in the amount of $3,280,000.00 dated of even date herewith substantially in the form of Exhibit "B" hereto.

Note. Shall mean this Note and any other promissory note evidencing the Loan.

Note. Shall mean this Amended and Restated Promissory Note as it may be amended, modified, extended or restated from time to time, together with all substitutions and replacements therefor. 2 "Operating Expenses": shall mean, for any period, all cash expenditures of Maker and the Property Owner actually paid (and properly payable) during such period for (i) real and personal property taxes on the Real Property; (ii) principal and interest on the secured Real Property debt; (iii) premiums... for liability, property and other insurance on the Real Property; (iv) the Management Fee; (v) sales and rental taxes relating to the Real Property; and (vi) normal, reasonable and customary operating expenses of the Real Property. In no event shall Operating Expenses include amounts distributed to the partners or shareholder's of Maker or the Property Owner, any payments made on the Loan or any other loan obtained by Maker, amounts paid out of any funded reserve expressly approved by Payee, if any, non-cash expenses such as depreciation, or any cost or expense related to the restoration of the Property in the event of a casualty or eminent domain taking paid for from the proceeds of insurance or an eminent domain award or any reserve funded by insurance proceeds or eminent domain awards. View More

Note. Shall mean this Subordinated Promissory Note.

Note. Has the meaning specified in the Preamble.