Common use of Line of Credit Notes; Repayment of Principal Clause in Contracts

Line of Credit Notes; Repayment of Principal. (1) Borrower's obligations to pay the principal of, and interest on, the Syndicate Loans and the Competitive Bid Loans to each Lender shall be evidenced by the records of the Administrative Agent and such Lender and by the Syndicate Note and the Competitive Bid Note, respectively, payable to such Lender (or the assignor of such Lender) completed in conformity with this Agreement. (2) All outstanding principal amounts under the Line of Credit Loans shall be due and payable at the earlier of (i) the Line of Credit Termination Date or (ii) acceleration of the indebtedness as provided in Article VIII.

Appears in 2 contracts

Samples: Line of Credit Agreement (Hughes Supply Inc), Line of Credit Agreement (Hughes Supply Inc)

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Line of Credit Notes; Repayment of Principal. (1a) Borrower's obligations to pay the principal of, and interest on, the Syndicate Loans and the Competitive Bid Loans to each Lender shall be evidenced by the records of the Administrative Agent and such Lender and by the Syndicate Note and the Competitive Bid Note, respectively, payable to such Lender (or the assignor of such Lender) completed in conformity with this Agreement. (2b) All outstanding principal amounts under the Line of Credit Loans shall be due and payable at the earlier of (i) the Line of Credit Termination Date or (ii) acceleration of the indebtedness as provided in Article VIII.

Appears in 1 contract

Samples: Line of Credit Agreement (Hughes Supply Inc)

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Line of Credit Notes; Repayment of Principal. (1) Borrower's obligations to pay the principal of, and interest on, the Syndicate Loans and the Competitive Bid Loans to each Lender shall be evidenced by the records of the Administrative Agent and such Lender and by the Syndicate Note and the Competitive Bid Note, respectively, payable to such Lender (or the assignor of such Lender) completed in conformity with this AgreementAgreement . (2) All outstanding principal amounts under the Line of Credit Loans shall be due and payable at the earlier of (i) the Line of Credit Termination Date or (ii) acceleration of the indebtedness as provided in Article VIII.

Appears in 1 contract

Samples: Line of Credit Agreement (Hughes Supply Inc)

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