Existing Term Note and Credit Note Sample Clauses

Existing Term Note and Credit Note. Lender is the holder of that $3.1 million principal amount Promissory Note dated February 29, 1996, made by Borrower payable to Lender (the "Term Note"), payment of which is secured by Borrower's interest in the Company under that Security Agreement dated February 29, 1996 (the "1996 Security Agreement"); and also the holder of that $28,166,666 principal amount Line of Credit Note dated April 15, 1997, made by Borrower payable to Lender (the "Credit Note"), payment of which is secured by Borrower's interest in East West Resort Development, L. P. and EWRD Summit Holdings, L. P. (East West Partnerships"). To induce Lender to enter into this Agreement and advance the Commitment Amount to Borrower, Borrower agrees to grant Lender a security interest in Borrower's East West Partnerships to secure payment of the Note and to amend and restate the 1996 Security Agreement to provide that the Borrower's interest in the Company shall secure payment of the Note as well as the Term Note.
Sample 1
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Related to Existing Term Note and Credit Note

  • Existing Term Lenders The undersigned existing Term Lender hereby irrevocably and unconditionally approves the Amendment and consents as follows (check ONE option): Cashless Settlement Option (cashless roll) Post-Closing Settlement Option (cash roll) x to convert 100% (or such lesser amount as shall be allocated to such Lender by the Lead Arranger) of the outstanding principal amount of the 2016 Extended Term Loans held by such Lender into March 2017 Refinancing Term Loans o to have 100% (or such lesser amount as shall be allocated to such Lender by the Lead Arranger) of the outstanding principal amount of the 2016 Extended Term Loans held by such Lender prepaid on the Refinancing Draw Date and purchase by assignment the principal amount of March 2017 Refinancing Term Loans committed to separately by such Lender The total aggregate amount of the undersigned Lender’s existing 2016 Extended Term Loan commitments is $1,170,000. The Lead Arranger reserves the right to accept or reject in full or in part such amount in their allocations for the Amendment.

  • Term Loan Agreement An Event of Default (as defined in the Term Loan Agreement) shall occur.

  • Loan Agreement and Note Lender shall have received a copy of this Agreement and the Note, in each case, duly executed and delivered on behalf of Borrower.

  • Terms Defined in Loan and Security Agreement All capitalized terms used in this Amendment (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Loan and Security Agreement.

  • Loan Agreement This Agreement duly executed by Borrower and Lender.

  • Terms Defined in Credit Agreement All capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement.

  • Amendment of Loan Agreement The Loan Agreement is hereby amended as follows:

  • Terms Defined in Loan Agreement All capitalized terms used in this Amendment (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Loan Agreement.

  • Credit Agreement Governs Except as set forth in this Agreement, the New Term Loans shall otherwise be subject to the provisions of the Credit Agreement and the other Credit Documents.

  • Terms Defined in the Credit Agreement All capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement.

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