Construction Note Clause Samples

Construction Note. The promissory note executed by the Borrower to the Construction Lender that is paid and discharged with the proceeds of this NLRP Note.

Construction Note. Each Lender's Loans under a Construction Loan Commitment shall be evidenced by a Construction Note and/or one or more Bankers' Acceptances in Canadian Dollars payable to the order of such Lender in a maximum principal amount equal to such Lender's Percentage of the original Construction Loan Commitment Amount. The Borrower hereby irrevocably authorizes each Lender to make (or cause to be made) appropriate notations on the grid attached to such Lender's Notes (or on any continuation of such grid), which notations, if made, shall evidence, inter alia, the date of, the outstanding principal of, and the interest rate and Interest Period applicable to the Loans evidenced thereby. Such notations shall be conclusive and binding on the Borrower absent manifest error; provided, however, that the failure of any Lender to make any such notations shall not limit or otherwise affect any Obligations of the Borrower.

Construction Note. The Obligation of the Borrower to repay the Construction Loan shall be evidenced by a promissory note (the “Construction Note”) in the form attached hereto as Exhibit A.

Construction Note. The 1998/1999 Construction Loan shall be subject to all of the terms and conditions of the 1998/1999 Construction Note and this Agreement.

Construction Note. AFTER DATE, FOR VALUE RECEIVED, the Undersigned, Tradeport Development III, LLC, a Connecticut limited liability company, having a usual place of business at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇, Bloomfield, Connecticut (the “Borrower”), promises to pay to Berkshire Bank, a Massachusetts banking corporation, (“Lender”), or order, at the Lender’s main office presently located at ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇, or at such other place as Lender may designate in writing, the maximum principal sum of Twelve Million and 00/100 Dollars ($12,000,000) or so much thereof as may be Advanced (each Advance shall be referred to as an “Advance” and all such Advances shall collectively be referred to as the “Advances”) pursuant to a Construction Loan and Security Agreement of even date herewith (“Loan Agreement”) and incorporated by reference herein made between Borrower and Lender. Capitalized terms not defined herein shall have the meaning given in the Loan Agreement. The principal outstanding shall be repaid, together with interest thereon as provided in this Note as follows:

Construction Note. The Maturity Date of the Construction Note is hereby extended to January 1, 2005, further evidenced by the $2,833,332 Promissory Note ("$2,833,332 Construction Note") in form and content as set forth on Schedule "2.3" hereto.

Construction Note. The obligation of the Borrower to repay the Construction Loan shall be evidenced by the Construction Note.

Construction Note. The duly executed Construction Note dated as of the Closing Date;

Construction Note. The Revolving Construction Promissory Note of even date herewith from Borrower to Lender in the original principal amount of Ten Million Dollars and No/100 ($10,000,000.00), which Construction Note evidences the Construction Loan.