Common use of Evidence of Debt; Repayment of Loans Clause in Contracts

Evidence of Debt; Repayment of Loans. (a) The Borrower hereby unconditionally promises to pay to each Lender the principal amount of each Loan of such Lender as provided in Section 2.07. (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from the Loan made by such Lender, including the amounts of principal and cash and PIK interest payable and paid to such Lender from time to time under this Agreement. (c) The entries made in the accounts maintained pursuant to paragraph (b) above shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided, however, that the failure of any Lender to maintain such accounts or any error therein shall not in any manner affect the obligations of the Borrower to repay the Loans in accordance with their terms. (d) On the Closing Date, the Borrower shall execute and deliver to each Lender a promissory note payable to such Lender and its registered assigns in substantially the form attached hereto as Exhibit D.

Appears in 2 contracts

Samples: Credit Agreement (Clearlake Capital Partners, LLC), Credit Agreement (Goamerica Inc)

AutoNDA by SimpleDocs

Evidence of Debt; Repayment of Loans. (a) The Borrower hereby unconditionally promises to pay to each the Lender the principal amount of each Loan of such Lender as provided in Section 2.07on the Maturity Date. (b) Each The Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such the Lender resulting from the each Loan made by such Lenderthe Lender from time to time, including the amounts of principal and cash and PIK interest payable and paid to such the Lender from time to time under this Agreement. (c) The entries made in the accounts maintained pursuant to paragraph (b) above shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided, however, that the failure of any the Lender to maintain such accounts or any error therein shall not in any manner affect the obligations of the Borrower to repay the Loans in accordance with their terms. (d) On the Closing DateThe Lender may request that Loans made by it hereunder be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to each the Lender a promissory note payable to such the Lender and its registered assigns and in substantially a form and substance reasonably acceptable to the form attached hereto as Exhibit D.Lender and the Borrower. Notwithstanding any other provision of this Agreement, in the event the Lender shall request and receive such a promissory note, the interests represented by such note shall at all times be represented by one or more promissory notes payable to the payee named therein or its registered assigns.

Appears in 1 contract

Samples: Credit Agreement (Ener1 Inc)

Evidence of Debt; Repayment of Loans. (a) The Borrower hereby unconditionally promises to pay to each the Lender the principal amount of each the Term Loan of such Lender as provided in Section 2.072.06. (b) Each The Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such the Lender resulting from the each Loan made by such Lenderthe Lender from time to time, including the amounts of principal and cash and PIK interest payable and paid to such Lender from time to time under this Agreement. (c) The entries made in the accounts maintained pursuant to paragraph (ba) above shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided, however, provided that the failure of any the Lender to maintain such accounts or any error therein shall not in any manner affect the obligations of the Borrower to repay the Loans in accordance with their terms. (d) On The Lender may request that the Closing DateTerm Loan be evidenced by a Note. In such event, the Borrower shall execute and deliver to each the Lender a promissory note Note payable to such the Lender and its registered assigns assigns. Notwithstanding any other provision of this Agreement, in substantially the form attached hereto as Exhibit D.event the Lender shall request and receive such a Note, the interests represented by such Note shall at all times (including after any assignment of all or part of such interests pursuant to Section 8.04) be represented by one or more Notes payable to the payee named therein or its registered assigns.

Appears in 1 contract

Samples: Credit Agreement (Electronic Cigarettes International Group, Ltd.)

AutoNDA by SimpleDocs

Evidence of Debt; Repayment of Loans. (a) The Borrower hereby unconditionally promises to pay to each Lender the principal amount of each Loan of such Lender as provided in Section 2.07. (bi) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from the Loan made by such Lender, including the amounts of principal and cash and or PIK interest payable and paid to such Lender from time to time under this Agreement. (cii) The entries made in the accounts maintained pursuant to paragraph (b) above shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided, however, that the failure of any Lender to maintain such accounts or any error therein shall not in any manner affect the obligations of the Borrower to repay the Loans in accordance with their terms. (diii) On the Closing Date, the Borrower shall execute and deliver to each Lender a promissory note payable to such Lender and its registered assigns in substantially the form attached hereto as Exhibit D.C.

Appears in 1 contract

Samples: Securities Purchase Agreement (TRM Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!