Execution of Term Note Sample Clauses

Execution of Term Note. After Power Substantial Completion of the Project but on or before the Conversion Date Deadline, Borrower shall execute the Term Note completed in accordance with Section 5.03 hereof. Upon the Conversion Date (as hereinafter defined) all of Borrower’s obligations under the Construction Note will be discharged and Borrower’s future obligations with respect thereto, including the Advance made on the Conversion Date, shall be governed pursuant to the terms of the Term Note and the other Transaction Documents to which it is a party (hereinafter “Conversion”). For purposes of clarity, the principal balance of such Term Note shall include: (a) all obligations of Borrower under the Construction Note, including any Advance made under the Construction Note on or before the Conversion Date (but excluding interest accrued under the Construction Note which has not been repaid, all of which must be repaid in connection with Conversion pursuant to Section 5.02(p) below); and (b) the amount of any Retainage withheld by Lender pursuant to Section 2.03(b) hereof, it being the intention of the parties that such Retainage (i) be deemed funded by Lender as an Advance under the Note on the Conversion Date bearing interest in accordance with the terms of such Note; and (ii) be held in escrow until disbursement pursuant to Section 4.03 hereof. Borrower acknowledges and agrees that such amounts may be commingled by Lender with other funds and shall not bear interest. At Borrower’s written request, Lender shall cancel and return the original of the Construction Note to the Borrower promptly after the Conversion Date. As used herein, the term “Conversion Date” means the first day of the calendar month occurring immediately after Lender’s determination that all conditions precedent specified in Section 4.01 and 4.02 and all conditions precedent outlined below in Section 5.02 have been satisfied. If requested in writing by Lender, Borrower shall acknowledge the Conversion Date in writing pursuant to a certificate signed by an authorized officer of Borrower.
Sample 1
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Related to Execution of Term Note

  • Integration of Terms Except as otherwise provided in this Agreement, this Agreement contains the entire agreement between the parties relating to the subject matter hereof and supersedes any and all oral statements and prior writings with respect thereto.

  • Variation of Terms All terms and any variations thereof shall be deemed to refer to masculine, feminine, or neuter, singular or plural, as the identity of the Person or Persons may require.

  • CLARIFICATION OF TERMS If any prospective bidder has questions about the specifications or other solicitation documents, the prospective bidder should contact the buyer whose name appears on the face of the solicitation no later than five working days before the due date. Any revisions to the solicitation will be made only by addendum issued by the buyer.

  • Modification of Terms; etc No Pledgor shall rescind or cancel any obligations evidenced by any Receivable or modify any term thereof or make any adjustment with respect thereto except in the ordinary course of business consistent with prudent business practice, or extend or renew any such obligations except in the ordinary course of business consistent with prudent business practice or compromise or settle any dispute, claim, suit or legal proceeding relating thereto or sell any Receivable or interest therein except in the ordinary course of business consistent with prudent business practice without the prior written consent of the Collateral Agent. Each Pledgor shall timely fulfill all obligations on its part to be fulfilled under or in connection with the Receivables.

  • Construction of Terms If any provision of this Agreement is held unenforceable by a court of competent jurisdiction, that provision shall be severed and shall not affect the validity or enforceability of the remaining provisions.

  • Modification of Terms Except as otherwise provided for herein, this Agreement may only be modified or amended upon a mutual written contract amendment signed by Citizens and Vendor or as otherwise permitted by this Agreement. Vendor may not unilaterally modify the terms of this Agreement in any manner such as by affixing additional terms to any Deliverable (e.g., attachment or inclusion of standard preprinted forms, product literature, “shrink wrap” or “click through” terms, whether written or electronic) or by incorporating such terms onto Vendor’s order or fiscal forms or other documents forwarded by Vendor for payment and any such terms shall have no force or effect upon Citizens or this Agreement. Citizens' acceptance of any Service or processing of documentation on forms furnished by Vendor for approval or payment shall not constitute acceptance of any proposed modification to terms and conditions or any conflicting terms and conditions.

  • Application of Terms Grantee shall advise any sub-grantee of funds awarded through this Agreement of the requirements imposed on them by federal and state laws and regulations, and the provisions of this Agreement. The terms of this Agreement shall apply to all subawards authorized in accordance with Paragraph 17.1. 2 CFR 200.101(b)(2).

  • Incorporation of Terms The parties to the Trust Agreement will enter into the Trust Agreement by executing the Omnibus Instrument. By executing the Omnibus Instrument, the Trustee and the Trust Beneficial Owner hereby agree that the Trust Agreement will constitute a legal, valid and binding agreement between the Trustee and the Trust Beneficial Owner. All terms relating to the Trust or the series of Notes not otherwise included in the Trust Agreement will be as specified in the Omnibus Instrument or Pricing Supplement, as indicated herein.

  • Execution and Incorporation of Terms The parties to this Terms Agreement will enter into this Terms Agreement by executing the Omnibus Instrument. By executing the Omnibus Instrument, each party hereto agrees that this Terms Agreement will constitute a legal, valid and binding agreement by and among such parties. All terms relating to the Trust or the Notes not otherwise included in this Terms Agreement will be as specified in the Omnibus Instrument or Pricing Supplement, as indicated herein.

  • Continuation of Terms Upon any reorganization, consolidation, merger or transfer (and any dissolution following any transfer) referred to in this Section 3, this Warrant shall continue in full force and effect and the terms hereof shall be applicable to the Other Securities and property receivable on the exercise of this Warrant after the consummation of such reorganization, consolidation or merger or the effective date of dissolution following any such transfer, as the case may be, and shall be binding upon the issuer of any Other Securities, including, in the case of any such transfer, the person acquiring all or substantially all of the properties or assets of the Company, whether or not such person shall have expressly assumed the terms of this Warrant as provided in Section 4. In the event this Warrant does not continue in full force and effect after the consummation of the transaction described in this Section 3, then only in such event will the Company's securities and property (including cash, where applicable) receivable by the Holder of the Warrants be delivered to the Trustee as contemplated by Section 3.2.

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