Draw Note Sample Clauses

Draw Note. Pursuant to the Loan Agreement and the First Amendment, Lender and Borrower entered into a certain draw note in the original principal amount of $500,000.00 (the “Facility No. 2 Loan”), with a final stated maturity date of October 27, 2012 (as extended to October 31, 2013 pursuant to the Second Amendment). The security for payment of the Facility No. 2 Loan includes, without limitation, the (i) Security Agreement and the General Security Agreement, as they may have been renewed, extended, amended or supplemented by one or more documents, if any, dated before the Forbearance Date, are referred to herein as the “Facility No. 2 Collateral Documents”, and reference is made to the Facility No. 2 Collateral Documents for all purposes. The Facility No. 2 Collateral Documents cover the personal property therein described.
Sample 1Sample 2
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Draw Note. The $6,000,000 available to the Company under the Draw Note shall be hereinafter called the "Draw Commitment." The Draw Commitment shall not become effective until each of the parties hereto shall have executed this Agreement or a counterpart hereof. The Company shall be permitted to borrow (individually a "Draw Loan" and collectively the "Draw Loans") an amount not to exceed the Draw Commitment. Prior to requesting a Draw Loan, the Company must fulfill the Draw Loan Conditions Precedent described below. After the receipt of a Draw Loan, the Company must fulfill the Draw Loan Conditions Subsequent described below. (a) In connection with each request for a Draw Loan, the Company must provide the Bank with (i) the identity of the specific equipment lease being paid with the proceeds of the Draw Loan (ii) a letter executed by the lessor of the equipment that details the "payoff" amount for the equipment (and which payoff amount corresponds to the amount of the Draw Loan requested by the Company) and (iii) a list of all the equipment being acquired with the proceeds of the Draw Loan (collectively, the "Draw Loan Conditions Precedent"). In addition, the Company must provide to the Bank as soon as possible, but in no event later than sixty (60) days after the receipt of a Draw Loan, (1) a copy of a release or the xxxx of sale of the leased equipment executed by the lessor in form reasonably acceptable to the Bank and (2) UCC termination statements regarding any UCC-1 financing statements the lessor filed against the equipment (collectively, the "Draw Loan Conditions Subsequent"). (b) As of the December 31, 2003 (the "Draw Note Conversion Date"), the Bank shall have no further obligation to fund any Draw Loans under this Agreement or the Draw Note. Any principal amounts outstanding under the Draw Note shall become due and payable on the last day of the month commencing on December 31, 2003 in monthly installments of $125,000 until December 31, 2007 (the "Draw Loan Maturity Date"), when all remaining principal on the Draw Note shall become due and payable. (c) Interest shall accrue on each Draw Loan from the date the Draw Loan is made, and interest on the Draw Loans shall be paid, in accordance with the provisions of Section 1.4 hereof.
Sample 1
Draw Note. With respect to each disbursement under the Draw Loan, a Draw Note in the principal face amount of such disbursement duly executed by the Borrowers, in the form attached hereto as Exhibit A.
Sample 1
Draw Note. Subject to the terms and conditions of this Amendment, the Bank agrees to lend to the Borrower from time to time during the term of this Amendment, for the purchase and installation of new tire shredding equipment, amounts at any one time outstanding not to exceed Eight Hundred Sixty-Four Thousand Two Hundred Dollars ($864,200.00) ("Maximum Draw Credit"). Borrower may from time to time draw under this Loan during the term of this Amendment, but may not re-borrow any amounts. Interest and principal payments shall be payable on the date and in the manner set forth in the Variable Rate Draw Note ("Draw Note"). Upon maturity of the Draw Note, any unpaid balance shall be added to the unpaid principal and interest balance of the $1,185,000 Term Note to create a new term note with a fully amortized term of five years.
Sample 1
Draw Note. The Draw Loan shall be evidenced by the Draw Note. At the time of the initial disbursement of a Draw Loan and at each time any additional Draw Loan shall be requested hereunder or a repayment made in whole or in part thereon, a notation thereof shall be made on the books and records of the Bank. All amounts recorded shall be, absent manifest error, conclusive and binding evidence of (i) the principal amount of the Draw Loans advanced hereunder, (ii) any accrued and unpaid interest owing on the Draw Loans, and (iii) all amounts repaid on the Draw Loans. The failure to record any such amount or any error in recording such amounts shall not, however, limit or otherwise affect the obligations of the Borrower under the Draw Note to repay the principal amount of the Draw Loans, together with all interest accruing thereon.
Sample 1
Draw Note. The Draw Note duly executed by the Borrower.
Sample 1
Draw Note. The $6,000,000 available to the Company under the Draw Note shall be hereinafter called the "Draw Commitment." The Company has borrowed (individually a "Draw Loan" and collectively the "Draw Loans") an amount not to exceed the Draw Commitment. After the receipt of a Draw Loan, the Company must fulfill the Draw Loan Conditions Subsequent described below.
Sample 1
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Draw Note. The Draw Loan shall be evidenced by Draw Notes (together with any and all renewal, extension, modification or replacement notes executed by Borrowers and delivered to the Bank and given in substitution therefor, each a “Draw Note”) in the form of Exhibit A attached hereto, duly executed by the Borrowers and payable to the order of the Bank in the amount of each disbursement of the Draw Loan. At the time of the initial disbursement of the Draw Loan and at each time an additional disbursement shall be requested hereunder or a repayment made in whole or in part thereon, an appropriate notation thereof shall be made on the books and records of the Bank. All amounts recorded shall be, absent demonstrable error, conclusive and binding evidence of (i) the principal amount of the Draw Loans advanced hereunder, (ii) any unpaid interest owing on the Draw Loan, and (iii) all amounts repaid on the Draw Loan. The failure to record any such amount or any error in recording such amounts shall not, however, limit or otherwise affect the obligations of the Borrowers under the Draw Note to repay the principal amount of the Draw Loans, together with all interest accruing thereon.
Sample 1

Related to Draw Note

  • Term Note The Term Loan shall be evidenced by the Term Note. At the time of the disbursement of the Term Loan or a repayment made in whole or in part thereon, a notation thereof shall be made on the books and records of the Bank. All amounts recorded shall be, absent demonstrable error, conclusive and binding evidence of (i) the principal amount of the Term Loan advanced hereunder, (ii) any accrued and unpaid interest owing on the Term Loan and (iii) all amounts repaid on the Term Loan. The failure to record any such amount or any error in recording such amounts shall not, however, limit or otherwise affect the joint and several obligations of the Borrowers under the Term Note to repay the principal amount of the Term Loan, together with all interest accruing thereon.

  • Revolving Note The Revolving Loans made by each Lender shall, in addition to this Agreement, also be evidenced by a promissory note of the Borrower substantially in the form of Exhibit K (each a “Revolving Note”), payable to the order of such Lender in a principal amount equal to the amount of its Commitment as originally in effect and otherwise duly completed.

  • NOTE For Community-­‐Based TLDs Only] Obligations of Registry Operator to TLD Community. Registry Operator shall establish registration policies in conformity with the application submitted with respect to the TLD for: (i) naming conventions within the TLD, (ii) requirements for registration by members of the TLD community, and (iii) use of registered domain names in conformity with the stated purpose of the community-­‐based TLD. Registry Operator shall operate the TLD in a manner that allows the TLD community to discuss and participate in the development and modification of policies and practices for the TLD. Registry Operator shall establish procedures for the enforcement of registration policies for the TLD, and resolution of disputes concerning compliance with TLD registration policies, and shall enforce such registration policies. Registry Operator agrees to implement and be bound by the Registry Restrictions Dispute Resolution Procedure as set forth at [insert applicable URL] with respect to disputes arising pursuant to this Section 2.19. Registry Operator shall implement and comply with the community registration policies set forth on Specification 12 attached hereto.]

  • Loan Amount 3. ACCOUNT NAME(S) ............................................................................................................................................................................... BANK NAME / BRANCH ..................................................................................................................................................................

  • Promissory Note The Promissory Note is enclosed. The Chief Financial Officer is required to sign it and return it to the OPWC Loan Officer, Xxxxx XxXxxx. It is preferable that you scan and email it to her at Xxxxx.XxXxxx@xxx.xxxxx.xx.xx but may also mail it to the address on our letterhead. Only use one method.

  • Construction Loan Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties set forth in this Agreement, the Lender has agreed to lend to Borrower and Borrower has agreed to borrow from Lender the lesser of: (i) $27,000,000.00; or (ii) 55% of the Project Costs. Such amount shall be loaned by Lender pursuant to the terms and conditions set forth in this Agreement and the First Supplement to this Agreement.

  • Replacement Note Upon receipt of evidence reasonably satisfactory to Maker of the loss, theft, destruction or mutilation of this Note, and in the case of any such loss, theft or destruction, upon delivery of an indemnity agreement reasonably satisfactory to Maker or, in the case of any such mutilation, upon surrender and cancellation of this Note, Maker will execute and deliver to Holder in lieu thereof, a replacement note dated as of the date of this Note, identical in form and substance to this Note and upon such execution and delivery all references in the Mortgage to this Note shall be deemed to refer to such replacement note.

  • Term Loan (a) Subject to the terms and conditions of this Agreement, each Term Loan Lender severally agrees to make an advance of its Pro Rata Term Share of the Term Loan to the Borrower on the Closing Date, and from the Closing Date to the Term Loan Maturity Date, convert and continue Segments from time to time in accordance with the terms hereof. The principal amount of each Segment of the Term Loan outstanding hereunder from time to time shall bear interest and the Term Loan shall be repayable as herein provided. No amount of the Term Loan repaid or prepaid by the Borrower may be reborrowed hereunder, and no subsequent advance under the Term Loan Facility shall be allowed after the initial such advance of the Term Loan on the Closing Date. Segments of the Term Loan may be Base Rate Segments or Eurodollar Rate Segments at the Borrower’s election, as provided herein. (b) Not later than 1:00 P.M. New York time, on the Closing Date, each Term Loan Lender shall, pursuant to the terms and subject to the conditions of this Agreement, make the amount of its Pro Rata Term Share of the Term Loan available by wire transfer to the Administrative Agent. Such wire transfer shall be directed to the Administrative Agent at the Administrative Agent’s Office and shall be in the form of same day funds in Dollars. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, including without limitation the satisfaction of all applicable conditions in Sections 5.01 and 5.02, be made available to the Borrower by delivery of the proceeds thereof as shall be directed by the Responsible Officer of the Borrower and reasonably acceptable to the Administrative Agent. The initial Borrowing of the Term Loan may be a Eurodollar Rate Segment, a Base Rate Segment, or both; provided that if the Borrower desires that any portion of the initial Borrowing of the Term Loan is advanced as a Eurodollar Rate Segment, the Administrative Agent shall make such Borrowing as a Eurodollar Rate Segment only if, not later than three Business Days prior to the date that is then anticipated to be the Closing Date, the Administrative Agent has received from the Borrower a Term Loan Interest Rate Selection Notice with respect thereto, together with the Borrower’s written acknowledgement in form and substance satisfactory to the Administrative Agent that the provisions of Section 4.05 hereof shall apply to any failure by the Borrower to borrow on the date set forth in such Term Loan Interest Rate Selection notice any or all of the amounts specified in such Term Loan Interest Rate Selection Notice.

  • Swingline Note The Swingline Loans shall be evidenced by a duly executed promissory note of the Borrower to the Swingline Lender in the original amount of the Swingline Committed Amount and substantially in the form of Schedule 2.3(d).

  • Term Loan Advances Subject to Section 2.5(b), the principal amount outstanding under each Term Loan Advance shall accrue interest at a floating per annum rate equal to two and three quarters of one percent (2.75%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.5(d) below.

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