Common use of EVIDENCE OF REVOLVING LOAN INDEBTEDNESS Clause in Contracts

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.

Appears in 1 contract

Samples: Loan and Security Agreement (Lois/Usa Inc)

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EVIDENCE OF REVOLVING LOAN INDEBTEDNESS. The advances by each Lender constituting the Revolving Loan shall be evidenced by a promissory note executed by in favor of each Borrower and payable to the order of such respective Lender (collectively, the "Revolving Loan Notes") in the amount of its Revolving Loan Commitment dated amended and restated as of the Closing Effective 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 Borrowers Borrower 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.

Appears in 1 contract

Samples: Loan and Security Agreement (Brothers Gourmet Coffees Inc)

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 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 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.

Appears in 1 contract

Samples: Loan and Security Agreement (Lois/Usa Inc)

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EVIDENCE OF REVOLVING LOAN INDEBTEDNESS. The advances by each Lender constituting under the Revolving Loan shall be evidenced by a promissory note executed by in favor of each Borrower and payable to the order of such 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 Exhibit 2.3. All of the Revolving Loan Obligations to the Lenders hereunder shall be payable by the Borrowers Borrower by application of the proceeds of all Accounts and other Collateral in accordance with SUBSECTION 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.

Appears in 1 contract

Samples: Loan and Security Agreement (Telular Corp)

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