Common use of Form of Revolving Notes Clause in Contracts

Form of Revolving Notes. The Revolving Loan shall be evidenced by three Revolving Notes in the aggregate face amount of $100,000,000 and shall be in the form of the Note attached hereto as Exhibit "B" with appropriate insertions. Notwithstanding the principal amount of the Revolving Notes, as stated on the face thereof, the actual principal amount due from Borrower to Banks on account of the Revolving Notes, as of any date of computation, shall be the sum of Advances then and theretofore made on account thereof, less all principal payments actually received by Banks in collected funds with respect thereto. Interest in respect thereof shall be payable only for the period during which the Revolving Loan evidenced thereby is outstanding and, although the stated amount of the Revolving Notes may be higher, the Revolving Notes shall be enforceable, with respect to Borrower's obligation to pay the principal amount thereof, only to the extent of the unpaid principal amount of the Revolving Loan.

Appears in 1 contract

Samples: Loan Agreement (Clayton Williams Energy Inc /De)

AutoNDA by SimpleDocs

Form of Revolving Notes. The Revolving Loan shall be evidenced by three Revolving ----------------------- a Note or Notes in the aggregate face amount of $100,000,000 75,000,000, and shall be in the form of the Note attached hereto as Exhibit "B" hereto with appropriate insertions, which Note or Notes shall replace the $20,000,000 Revolving Note dated January 19, 1996 and the $5,000,000 Acquisition Note dated December 27, 1996. Notwithstanding the principal face amount of the Revolving Notes, as stated on the face thereof, the actual principal amount due from Borrower the Borrowers to Banks on account of the Revolving Notes, as of any date of computation, shall be the sum of Advances then and theretofore made on account thereof, less all principal payments actually received by Banks in collected funds with respect thereto. Interest Although the Notes may be dated as of the Effective Date, interest in respect thereof shall be payable only for the period during which the Revolving Loan loans evidenced thereby is are outstanding and, although the stated amount of the Revolving Notes may be higher, the Revolving Notes shall be enforceable, with respect to Borrower's Borrowers' obligation to pay the principal amount thereof, only to the extent of the unpaid principal amount of the Revolving Loanloans.

Appears in 1 contract

Samples: Loan Agreement (Gothic Energy Corp)

Form of Revolving Notes. The Revolving Loan shall be evidenced by three two Revolving Notes in the aggregate face total amount of $100,000,000 and shall be 100,000,000, one in the form amount of $75,000,000 payable to Bank One and one in the amount of $25,000,000 payable to Paribas. Copies of the Note Revolving Notes are attached hereto as Exhibit Exhibits "B" with appropriate insertionsand "B-1". Notwithstanding the principal amount of the Revolving Notes, as stated on the face thereof, the actual principal amount due from Borrower to Banks on account of the Revolving Notes, as of any date of computation, shall be the sum of Advances then and theretofore made on account thereof, less all principal payments actually received by Banks in collected funds with respect thereto. Interest in respect thereof shall be payable only for the period during which the Revolving Loan evidenced thereby is outstanding and, although the stated amount of the Revolving Notes may be higher, the Revolving Notes shall be enforceable, with respect to Borrower's obligation to pay the principal amount thereof, only to the extent of the unpaid principal amount of the Revolving Loan.

Appears in 1 contract

Samples: Loan Agreement (Clayton Williams Energy Inc /De)

Form of Revolving Notes. The Revolving Loan shall be evidenced by three Revolving Notes in the aggregate face amount of $100,000,000 200,000,000 and shall be in the form of the Note attached hereto as Exhibit "B" with appropriate insertions. Notwithstanding the principal amount of the Revolving Notes, as stated on the face thereof, the actual principal amount due from Borrower to Banks on account of the Revolving Notes, as of any date of computation, shall be the sum of Advances then and theretofore made on account thereof, less all principal payments actually received by Banks in collected funds with respect thereto. Interest in respect thereof shall be payable only for the period during which the Revolving Loan evidenced thereby is outstanding and, although the stated amount of the Revolving Notes may be higher, the Revolving Notes shall be enforceable, with respect to Borrower's ’s obligation to pay the principal amount thereof, only to the extent of the unpaid principal amount of the Revolving Loan.

Appears in 1 contract

Samples: Loan Agreement (Clayton Williams Energy Inc /De)

AutoNDA by SimpleDocs

Form of Revolving Notes. The Revolving Loan shall be evidenced by three two Revolving Notes in the aggregate face total amount of $100,000,000 100,000,000, one in the amount of $55,000,000 payable to Bank One and shall be one in the amount of $45,000,000 payable to Union, each in the form of the Note attached hereto as Exhibit "B" with appropriate insertions. Notwithstanding the principal amount of the Revolving Notes, as stated on the face thereof, the actual principal amount due from Borrower to Banks on account of the Revolving Notes, as of any date of computation, shall be the sum of Advances then and theretofore made on account thereof, less all principal payments actually received by Banks in collected funds with respect thereto. Interest in respect thereof shall be payable only for the period during which the Revolving Loan evidenced thereby is outstanding and, although the stated amount of the Revolving Notes may be higher, the Revolving Notes shall be enforceable, with respect to Borrower's obligation to pay the principal amount thereof, only to the extent of the unpaid principal amount of the Revolving Loan.

Appears in 1 contract

Samples: Loan Agreement (Clayton Williams Energy Inc /De)

Time is Money Join Law Insider Premium to draft better contracts faster.