note purchase agreement

note purchase agreement
USA
A contract for the sale and purchase of notes that allows a company (the seller) to raise money for general corporate purposes, to complete an acquisition or for other purposes. The purchaser invests in the company through the purchase of the notes. Similar to a loan agreement, the seller must fulfill conditions precedent, make representations and warranties and comply with covenants described in the note purchase agreement. It also specifies the notes maturity date and the interest payment dates during the term of the agreement. On the maturity date, the purchaser returns the notes to the seller for the price for which they were purchased plus interest as described in the note purchase agreement.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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