Description of Notes and Commitment Clause Samples
The 'Description of Notes and Commitment' clause defines the specific terms and characteristics of the promissory notes being issued, as well as the lender's commitment to provide funds under the agreement. It typically outlines the principal amount, interest rate, maturity date, and any conditions attached to the notes, along with the total commitment amount and any limitations or requirements for drawing funds. This clause ensures both parties have a clear understanding of the financial instruments involved and the obligations of the lender, thereby reducing ambiguity and potential disputes regarding the loan structure.
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Description of Notes and Commitment. Section 1.1.
Description of Notes and Commitment. Section 1.1.Description of Notes Section 1.2.Applicable Interest Rates Section 1.3.Commitment, Closing Date Section 2.
Description of Notes and Commitment. Upon the effectiveness of this Agreement, automatically, and without further action on the part of either the Original Noteholders or the Company, the Existing Notes shall be amended and restated in their entirety to read as set forth in Exhibit A hereto (and the form of Note attached as Exhibit 1 to the Original Note Agreement shall be amended in its entirety to read as set forth in Exhibit A) and the amended and restated Notes shall be issued in renewal of, and evidence the same indebtedness formerly evidenced by, the Existing Notes. If any accrued and unpaid interest is outstanding in respect of any of the Existing Notes as of the date that the Existing Notes become evidenced by the amended and restated Notes, such accrued interest on each such Existing Note shall be due and payable on the first interest payment date applicable to such amended and restated Note. Each Note will be dated the date to which interest has been paid on the Existing Note surrendered therefor, will bear interest from such date at the Applicable Interest Rate, payable semiannually on the first day of June and December in each year (commencing June 1, 2002), to be expressed to mature on December 1, 2009, and otherwise substantially in the form attached hereto as Exhibit A. The term "Notes" as used herein and in the Note Agreement shall include each such amended and restated Note delivered pursuant to this Agreement to replace the Existing Notes and any such notes issued in substitution therefore pursuant to Section 13 of the Note Agreement. Upon the effectiveness of this Agreement, the Existing Notes shall be returned to the Company.
Description of Notes and Commitment. Description of Notes 1 1.2 Commitment, Closing Date 1 1.3 Guarantee of the Notes 2 2. PREPAYMENT OF NOTES 2
Description of Notes and Commitment. 1 Section 1.1 Description of Notes 1 Section 1.2 Commitment, Closing Date 2 Section 1.3 Guaranty of Notes 2 Section 1.4 Other Agreements 2 SECTION 2 REPAYMENT OF NOTES 2 Section 2.1
Description of Notes and Commitment. 2 Section 1.1. Description of Notes...................................... 2 Section 1.2. Commitment, Closing Date.................................. 3 Section 1.3. Several Obligations....................................... 3 SECTION 2.
Description of Notes and Commitment. Section 1.1 Description of Notes Section 1.2 Payment of Kind Section 1.3 Commitment Section 1.4 Closing Section
Description of Notes and Commitment. Section 1.1. Description of Notes Section 1.2. Commitment, Closing Dates Section 1.3. Other Agreements Section 1.4. Additional Series of Notes Section 1.5. Initial Subsidiary Note Guaranty
Description of Notes and Commitment