Common use of Issue of BA Equivalent Notes Clause in Contracts

Issue of BA Equivalent Notes. TCCI shall, at the request of a Tranche B Lender, issue one or more non-interest bearing promissory notes (each a “BA Equivalent Note”) payable on the date of maturity of the unaccepted Draft referred to below, in such form as such Tranche B Lender may specify, in a principal amount equal to the Face Amount of, and in exchange for, any unaccepted Drafts which such Tranche B Lender has purchased or has arranged to have purchased in accordance with Section 2.1(b). TCCI and each Tranche B Lender hereby acknowledge and agree that from time to time certain Tranche B Lenders may elect not to receive any BA Equivalent Note, and TCCI and each applicable Tranche B Lender agrees that with respect to any such Tranche B Lender, in lieu of receiving BA Equivalent Notes, the applicable Tranche B Loan may be evidenced by a loan account which such Tranche B Lender shall maintain in its name, and in such event such loan account shall be entitled to all the benefits of BA Equivalent Notes.

Issue of BA Equivalent Notes. TCCI shall, at the request of a Tranche B Lender, issue one or more non-interest bearing promissory notes (each a “BA Equivalent Note”) payable on the date of maturity of the unaccepted Draft referred to below, in such form as such Tranche B Lender may specify, in a principal amount equal to the Face Amount of, and in exchange for, any unaccepted Drafts which such Tranche B Lender has purchased or has arranged to have Toyota - 364 Day Credit Agreement (2015) purchased in accordance with Section 2.1(b). TCCI and each Tranche B Lender hereby acknowledge and agree that from time to time certain Tranche B Lenders may elect not to receive any BA Equivalent Note, and TCCI and each applicable Tranche B Lender agrees that with respect to any such Tranche B Lender, in lieu of receiving BA Equivalent Notes, the applicable Tranche B Loan may be evidenced by a loan account which such Tranche B Lender shall maintain in its name, and in such event such loan account shall be entitled to all the benefits of BA Equivalent Notes.

Issue of BA Equivalent Notes. TCCI shall, at the request of a Tranche B Lender, issue one or more non-interest bearing promissory notes (each a “BA Equivalent Note”) payable on the date of maturity of the unaccepted Draft referred to below, in such form as such Tranche B Lender may specify, in a principal amount equal to the Face Amount of, and in exchange for, any unaccepted Drafts which such Tranche B Lender has purchased or has arranged to have purchased in accordance with Section 2.1(b). TCCI and each Tranche B Lender hereby acknowledge and agree that from time to time certain Tranche B Lenders may elect not to receive any BA Equivalent Note, and TCCI and each applicable Tranche B Lender agrees that with respect to any such Tranche B Lender, in lieu of receiving BA Equivalent Notes, the Toyota – Three Year Credit Agreement (2015) applicable Tranche B Loan may be evidenced by a loan account which such Tranche B Lender shall maintain in its name, and in such event such loan account shall be entitled to all the benefits of BA Equivalent Notes.