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

  • Term Note The Term Loan shall be evidenced by the Term Note. At the time of the disbursement of the Term Loan or a repayment made in whole or in part thereon, a notation thereof shall be made on the books and records of the Bank. All amounts recorded shall be, absent demonstrable error, conclusive and binding evidence of (i) the principal amount of the Term Loan advanced hereunder, (ii) any accrued and unpaid interest owing on the Term Loan and (iii) all amounts repaid on the Term Loan. The failure to record any such amount or any error in recording such amounts shall not, however, limit or otherwise affect the joint and several obligations of the Borrowers under the Term Note to repay the principal amount of the Term Loan, together with all interest accruing thereon.

  • 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 modified and 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.

  • Revolving Note The Revolving Loans made by each Lender shall, in addition to this Agreement, also be evidenced by a promissory note of the Borrower substantially in the form of Exhibit K (each a “Revolving Note”), payable to the order of such Lender in a principal amount equal to the amount of its Commitment as originally in effect and otherwise duly completed.

  • of the Loan Agreement Section 14.1.1(c)(iii) of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

  • Amendment of the Credit Agreement Effective as of the Amendment Effective Date, the Credit Agreement is hereby amended as follows: (a) The following definitions are added in the appropriate alphabetical order to Section 1.01 of the Credit Agreement:

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