Bank Note. All Payment Obligations shall be made against and evidenced by the City’s promissory note payable to the order of the Bank in the principal amount equal to the Original Stated Amount, such note to be executed and delivered to the Bank on the Issuance Date in the form of Exhibit B attached hereto with appropriate insertions (the “Bank Note”). All Payment Obligations and all payments and prepayments on account of the principal of and interest on each Payment Obligation shall be recorded by the Bank on its books and records, which books and records shall, absent manifest error, be conclusive as to amounts payable by the City hereunder and under the Bank Note. The Bank may, but shall not be required to, complete the schedule attached to the Bank Note to reflect the making and status of Drawings, Unreimbursed Drawings and Term Loans, provided that the failure to make or any error in making any such endorsement on such schedule shall not limit, extinguish or in any way modify the obligation of the City to repay the Unreimbursed Drawings and Term Loans. The City shall pay principal and interest on the Bank Note on the dates and at the rates provided for in Sections 2.4 and 4.3 hereof with respect to Unreimbursed Drawings and Term Loans.
Bank Note. Within thirty (30) days of the Issuance Date, the Bank shall have received written evidence satisfactory to the Bank that (i) a CUSIP number has been obtained and reserved from Standard & Poor’s CUSIP Service for the Bank Note and (ii) the Bank Note (and its related CUSIP number) shall have been assigned a long-term rating of at least investment grade by any Rating Agency.
Bank Note. The Bank shall have received the executed Bank Note.
Bank Note. The Bank Note shall not hereafter be modified, amended or extended without written agreement and approval of Buyer.
Bank Note. Concurrent with the closing hereof, the Borrowers will execute and deliver to the order of BOK their joint and several replacement promissory note in the original principal amount of $40,000,000, a copy of which is annexed hereto as EXHIBIT "A" and hereby made a part hereof (hereinafter referred to as the "Bank Note"), bearing interest payable monthly on the last day of every month commencing August 31, 1997, on unpaid balances of principal from time to time outstanding and on any past due interest at a variable annual rate as follows:
2.2.1. THROUGH MAY 31, 1999. Initially from the Closing Date through August 31, 1997, at a variable annual rate equal from day to day to Applicable Prime Rate minus .25% and thereafter equal from day to day to the Applicable Prime Rate less, if applicable, the percentage set forth below, such variable annual rate being adjustable quarterly as of the close of the second month after each calendar quarter (based on the immediately preceding calendar quarter end financial statement calculations and data) commencing as of August 31, 1997 (for the calendar quarter ended June 30, 1997) as follows:
Bank Note. (i) The Obligations of the Agency to the Bank under this Agreement shall be evidenced by a promissory note (the “Bank Note”) issued by the Agency on the Closing Date and which shall be registered in the name of and delivered to the Bank. The Bank Note shall evidence an obligation of the Agency until the principal of and interest with respect to the Bank Note and any and all Reimbursement Obligations shall have been paid by the Agency to the Bank in the amounts and at the times provided therein and herein. The Bank shall maintain in accordance with its usual practices an account or accounts evidencing the indebtedness resulting from each Drawing honored by the Bank under the Letter of Credit and each Advance and Term Loan made from time to time xxxxxxxxx and the amounts of principal and interest payable and paid from time to time hereunder. In any legal action or proceeding in respect of this Agreement or the Bank Note, the entries made in such account or accounts shall be conclusive evidence (absent manifest error) of the existence and amounts of the obligations therein recorded. The Agency shall, without duplication (i) make a principal payment on the Bank Note on each date on which the Agency is required to make a principal payment on any Drawing, Advance and/or Term Loan, as applicable, in an amount equal to the principal payment due on such date and (ii) pay interest on the Bank Note on each date on which the Agency is required to make an interest payment with respect to any Drawing, Advance and/or Term Loan, as applicable, in an amount equal to the interest payment due on such. The payment of the principal of and interest on the Bank Note shall constitute payment of the principal of and interest on the related Drawings, Advances and Term Loans and the payment of the principal of and interest on the Drawings, Advances and Term Loans shall constitute the payment of and principal and interest on the Bank Note and the failure to make any payment on any Drawings, Advance or Term Loan when due shall be a failure to make a payment on the Bank Note and the failure to make any payment on the Bank Note when due shall be a failure to make a payment on the Drawing, Advance or Term Loan.
(ii) The principal amount of the Bank Note and the interest thereon shall not be paid with the proceeds of a Drawing under the Letter of Credit.
Bank Note. The Administrative Agent shall have received a Revolving Note in the original principal amount of $10,000,000 executed by the Borrower to the order of Comerica Bank - California and U.S. Bank National Association shall have delivered its original Revolving Note to the Administrative Agent marked "cancelled" or "paid in full"; and
Bank Note. Written evidence satisfactory to the Bank that a CUSIP number has been obtained and reserved from Standard & Poor’s CUSIP Service for the Bank Note and that the Bank Note shall have been rated “BBB-“ or better by Fitch or “Baa3” or better by Moody’s.
Bank Note. 5 BIA ................................................................... 5
Bank Note. An executed Bank Note payable to the Bank.
