EVIDENCE OF REVOLVING LOAN INDEBTEDNESS Sample Clauses

EVIDENCE OF REVOLVING LOAN INDEBTEDNESS. The advances by each Lender constituting the Revolving Loan shall be evidenced by a promissory note executed by each Borrower and payable to the order of such Lender (collectively, the "Revolving Loan Notes") in the amount of its Revolving Loan Commitment dated the Closing Date in the form attached as EXHIBIT 2.3. All of Revolving Loan Obligations to the Lenders hereunder shall be payable by the Borrowers by application of the proceeds of all Accounts and other Collateral in accordance with SUBSECTION 3.5, and shall be payable in full upon the Termination Date, and the principal amount of such Revolving Loan Obligations shall bear interest as hereinafter provided. Each advance by the Lenders and each repayment of principal applicable to such advance shall be reflected in the Borrower's Loan Account.
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EVIDENCE OF REVOLVING LOAN INDEBTEDNESS. (a) The Revolving Loan is evidenced by BORROWER’s certain master promissory revolving note dated even date herewith and made payable to the order of LENDER. The amounts due under such note shall be payable as provided in this Agreement.
Sample 1
EVIDENCE OF REVOLVING LOAN INDEBTEDNESS. The advances by each Lender constituting the Revolving Loan shall be evidenced by a promissory note in favor of each respective Lender (collectively, the "Revolving Loan Notes") in the amount of its Revolving Loan Commitment dated the Closing Date in the form attached as Exhibit 2.3. All of the Borrower's Revolving Loan Obligations to the Lenders hereunder shall be payable by the Borrower in cash or by application of the proceeds of all Accounts and other Collateral in accordance with subsection 3.5, and shall be payable in full upon the Termination Date, and the
Sample 1
EVIDENCE OF REVOLVING LOAN INDEBTEDNESS. (a) The Advances made by each LENDER shall be evidenced by a single promissory note, or from time to time a restated and/or amended note, of BORROWER substantially in the form attached hereto as Exhibit "D". The aforesaid note shall be payable to the order of such LENDER in a principal amount equal to such LENDER's Commitment as originally in effect, and shall otherwise be duly completed. The amounts due under such note shall be payable as provided in this Agreement. (b) AGENT is hereby authorized by BORROWER to record on AGENT's records all advances made by each LENDER to BORROWER under such LENDER's aforesaid note and all interest and other amounts due thereon and all payments made on account of principal and/or interest and/or such other amounts. The aggregate unpaid principal and/or interest and/or other amounts entered and shown on AGENT's records shall further evidence the principal and/or interest and/or other amounts owing and unpaid on the Revolving Loan. Each LENDER may from time to time render, or cause AGENT to render, a statement of the aforementioned records. AGENT will use good efforts to render such statement monthly. If BORROWER fails to object to any such statement within sixty (60) days after it is received by BORROWER, such statement shall be deemed to be an account stated and binding upon BORROWER, provided, however, that nothing in the foregoing shall prevent AGENT or BORROWER from correcting manifest errors in such statements. Notwithstanding the foregoing, the following shall apply:
Sample 1
EVIDENCE OF REVOLVING LOAN INDEBTEDNESS. The advances constituting the Revolving Loan Obligations shall be evidenced by promissory notes (the "Revolving Loan Notes") dated as of the date hereof, made by WQMC in favor of each Lender in the amount of such Lender's Revolving Loan Commitment. The Revolving Loan Obligations may be paid, reborrowed and repaid, subject to the conditions set forth in Section 4 hereof, and shall be payable in full upon termination of this Agreement. The principal amount of the Revolving Loan Obligations shall bear interest as hereinafter provided. Each advance by the Agent for the benefit of the Lenders and each repayment of principal applicable to such advance shall be reflected in WQMC's Loan Account.
Sample 1
EVIDENCE OF REVOLVING LOAN INDEBTEDNESS. (a) The Advances made by each LENDER shall be evidenced by a single promissory note, or from time to time a restated and/or amended note, of BORROWER substantially in the form attached hereto as Exhibit "D". The aforesaid note shall be payable to the order of such LENDER in a principal amount equal to such LENDER's Commitment as originally in effect, and shall otherwise be duly completed. The amounts due under such note shall be payable as provided in this Agreement.
Sample 1

Related to EVIDENCE OF REVOLVING LOAN INDEBTEDNESS

  • Repayment of Revolving Loans The Revolving Loans and all other Liabilities (other than the Term Loan) shall be repaid on the last day of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof.

  • Revolving Loan Facility On the terms and subject to the conditions of this Agreement, each Revolving Lender severally agrees to advance to the Borrower from time to time during the period beginning on the Effective Date up to, but not including the Termination Date, such loans in Dollars as the Borrower may request under this Section 2.01(b) (individually, a “Revolving Loan”); provided, however, that (i) the sum of (A) the Effective Amount of all Revolving Loans made by such Lender at any time outstanding and (B) such Lender’s Revolving Proportionate Share of the Effective Amount of all L/C Obligations and all Swing Line Loans at any time outstanding shall not exceed such Lender’s Revolving Loan Commitment at such time and (ii) the sum of (A) the Effective Amount of all Revolving Loans made by all of the Revolving Lenders at any time outstanding and (B) the Effective Amount of all L/C Obligations and Swing Line Loans at any time outstanding shall not exceed the Revolving Loan Facility at such time. All Revolving Loans shall be made on a pro rata basis by the Revolving Lenders in accordance with their respective Revolving Proportionate Shares, with each Revolving Loan Borrowing to be comprised of a Revolving Loan by each Revolving Lender equal to such Lender’s Revolving Proportionate Share of such Revolving Loan Borrowing. Except as otherwise provided herein, the Borrower may borrow, repay and reborrow Revolving Loans until the Termination Date in respect of the Revolving Loan Facility.

  • Revolving Loan Commitments Lender will make loans to Borrower on a revolving basis (“Revolving Loans”) from time to time and Borrower may repay such loans from time to time until the Termination Date in such amounts as Borrower may request from Lender; provided, that after giving effect to such Revolving Loans, the Revolving Loans outstanding will not at any time exceed the Borrowing Availability.

  • Repayment of Revolving Credit Loans The Borrower shall repay the Revolving Credit Loans together with all outstanding interest thereon on the Expiration Date.

  • Term Loan Commitments Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a term loan (the “Term Loan”) to the Borrower on the Closing Date in such principal amount as the Borrower shall request up to, but not exceeding such Lender’s Term Loan Commitment.

  • Repayment of Revolver Loans Revolver Loans shall be due and payable in full on the Revolver Termination Date, unless payment is sooner required hereunder. Revolver Loans may be prepaid from time to time, without penalty or premium. If any Asset Disposition includes the disposition of Accounts or Inventory, then Net Proceeds equal to the greater of (a) the net book value of such Accounts and Inventory, or (b) the reduction in the Borrowing Base upon giving effect to such disposition, shall be applied to the Revolver Loans. Notwithstanding anything herein to the contrary, if an Overadvance exists, Borrowers shall, on the sooner of Agent’s demand or the first Business Day after any Borrower has knowledge thereof, repay the outstanding Revolver Loans in an amount sufficient to reduce the principal balance of Revolver Loans to the Borrowing Base.

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.

  • Term Loan Facility Each Lender severally agrees, on the terms and conditions set forth herein, to make Loans to the Borrower during the period from the Closing Date to June 12, 2009, in an aggregate amount not to exceed such Lender’s Pro Rata Share of the Term Commitment. The Borrower from time to time may borrow under the Term Loan Facility (and may reborrow any amount theretofore prepaid) until close of business on June 12, 2009, for a term not to exceed 364 days from the date of the Borrowing. Each such loan under the Term Loan Facility (a “Term Loan”) shall be in the minimum amount of $10,000,000 and shall become due and payable on the last day of the term selected by the Borrower for such Term Loan (the “Term Loan Maturity Date”), which shall in no event be later than 364 days from the date of such Term Loan. The maximum availability under the Term Loan Facility shall be the amount of the Credit minus the aggregate outstanding principal amount of Revolving Loans and Term Loans made by the Lenders; provided, however, that to the extent the proceeds of a Term Loan are used to repay an outstanding Revolving Loan (or a portion thereof), such Revolving Loan (or portion thereof) shall not be considered part of the aggregate principal amount of outstanding Revolving Loans made by the Lenders for purposes of this sentence (such maximum availability hereafter being referred to as the “Term Loan Availability”). Under no circumstances shall the aggregate outstanding principal amount of Term Loans and Revolving Loans made by the Lenders exceed the Credit, and under no circumstances shall any Lender be obligated (i) to make any Term Loan (nor may the Borrower reborrow any amount heretofore prepaid) after June 12, 2009, or (ii) to make any Term Loan in excess of the Term Loan Availability. Each Term Loan made hereunder shall fully and finally mature and be due and payable in full on the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan; provided, however, that to the extent the Borrowing Advice for any Term Loan selects an Interest Period that expires before the Term Loan Maturity Date specified in such Borrowing Advice, the Borrower may from time to time select additional interest rate options and Interest Periods (none of which shall extend beyond the Term Loan Maturity Date for such Term Loan) by delivering a Borrowing Advice or Notice of Conversion/Continuation, as applicable.

  • Repayment of Term Loans and Revolving Facility Loans (a) Subject to the other clauses of this Section 2.10 and to Section 9.08(e),

  • 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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