LINE OF CREDIT PROMISSORY NOTE Sample Clauses

LINE OF CREDIT PROMISSORY NOTE. This First Amendment to Renewable Innovations Line of Credit Promissory Note (this “Amendment”) is entered into on August 30, 2023 (the “Effective Date”) by and between Renewable Innovations, Inc., a Nevada corporation (the “Company”) and Rxxxxx X. Xxxxx (the “Holder”). Each of the Company and Holder may be referred to as a “Party” and collectively as the “Parties.”
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LINE OF CREDIT PROMISSORY NOTE. (ONE-TIME ADVANCE) U.S. $3,000,000 July 29, 2005 Fairfxxxx, Xxxxxxxxxxx
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LINE OF CREDIT PROMISSORY NOTE. (a) The First Advance and all sums advanced by Lender to Borrower subsequent to the First Advance pursuant to the Credit Line (each, a “Subsequent Advance” and together with the First Advance, the “Advances”) shall be represented by a Credit Line Promissory Note, in the form attached hereto as Exhibit A (the “Note”), of even date herewith in the maximum principal amount equal to the Credit Limit, provided that, notwithstanding the face amount of the Note, the outstanding amount of the Advances shall be as reflected on the Lender’s books and records, which shall at all times be prima facie evidence of the amount of the outstanding Advances.
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LINE OF CREDIT PROMISSORY NOTE. The Borrower shall issue a promissory note in the amount of the facility extended hereunder and deliver same to the Bank.
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LINE OF CREDIT PROMISSORY NOTE. This Amendment No. 1 to the Line of Credit Promissory Note dated March 6, 2017 (“Note”) is made on June 6, 2017, by and between Payment Data Systems, Inc., 00000 Xxx Xxxxx, Ste. 120, San Antonio, TX 78216, and Singular Payments, LLC, 0000 Xxxxxxxx Xxx, Xxxxx 000, Xxxxxxxxx, XX 00000. By way of this Amendment No. 1 to the Note, the undersigned parties hereby mutually extend the Interest Start Date from May 31, 2017 to the earlier of August 1, 2017, the date of the closing and funding of the Proposed Transaction (as defined in the Note), the termination of the Letter of Intent (as defined in the Note), or such extended date if Lender and Borrower mutually agree in writing (the “Extended Interest Start Date”). All remaining terms and conditions of the Note shall remain in effect. PAYMENT DATA SYSTEMS, INC. /s/ Xxxxx Xxxx By: Xxxxx Xxxx President and CEO SINGULAR PAYMENTS, LLC /s/ Xxxxx Xxxxxxx By: Xxxxx Xxxxxxx Manager
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LINE OF CREDIT PROMISSORY NOTE. This Second Modification to Revolving Line of Credit Promissory Note (this “Modification”), dated as of February 2, 2017, is by and among PLANET PAYMENT, INC., a Delaware corporation (“Parent”), PLANET PAYMENT PROCESSING SERVICES, INC., a Delaware corporation, (“PPPS”), and PLANET GROUP, INC., a Delaware corporation (“PGI”) (each of Parent, PPPS, and PGI individually a “Borrower” and collectively the “Borrowers”), and CITIZENS BANK, N.A. (the “Bank”).
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LINE OF CREDIT PROMISSORY NOTE. Principal and interest on the Revolving Line of Credit Promissory Note shall be payable in the manner and on the dates specified therein.
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Related to LINE OF CREDIT PROMISSORY NOTE

  • Line of Credit Note Xxxxxxxx's obligation to repay advances under the Line of Credit shall be evidenced by a promissory note substantially in the form of Exhibit A attached hereto ("Line of Credit Note"), all terms of which are incorporated herein by this reference.

  • Line of Credit Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including April 2, 2015, not to exceed at any time the aggregate principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) (“Line of Credit”), the proceeds of which shall be used to finance Borrower’s working capital requirements. Borrower’s obligation to repay advances under the Line of Credit shall be evidenced by a promissory note dated as of May 1, 2012 (“Line of Credit Note”), all terms of which are incorporated herein by this reference.

  • The Line of Credit On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrowers from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed $40,000,000.00 (the “Line of Credit”). Within the foregoing limits, the Borrowers may borrow, partially or wholly prepay, and reborrow under this Section 2.1. Proceeds of the Line of Credit shall be used to assist with seasonal working capital needs and acquisitions.

  • Revolving Line of Credit (a) From and after the date of this Agreement to and including May 31, 2003, the Bank agrees, upon the terms and subject to the conditions of this Agreement, to lend to the Borrowers, and the Borrowers may from time to time borrow from the Bank and repay and reborrow, up to a maximum aggregate principal amount at any one time outstanding under the Revolving Line of Credit Note of $5,000,000. In no event will Advances be made at such times or in such amounts that the aggregate principal amount of all such Advances hereunder at any one time outstanding would exceed the lesser of $5,000,000 and (i) 80% of the then Eligible Accounts, plus (ii) 50% of the then Eligible Inventory. Each Advance under this Agreement will be made upon the written request or, at the option of the Bank, oral request, of the Borrowers to the Bank, which request shall, if written, be in the form of a Request for an Advance and, if oral, shall contain the same certification and information as a Request for an Advance and shall be confirmed by a facsimile of a Request for an Advance followed by the original thereof. All requests for Advances (and the facsimile concerning any oral Request for an Advance) shall be received by the Bank no later than 12:00 noon of the Business Day on which the Advance is to be made. To induce the Bank to accept oral requests for Advances, the Borrowers agree that the Bank may rely on instructions given by telephone by any person purporting to be authorized to act on behalf of the Borrowers , and the Borrowers agree to indemnify and hold harmless the Bank against all damages, losses, costs and expenses (including attorney's fees) arising out of or relating to the reliance by the Bank on any oral request for Advances. Provided the same is a Business Day, on the date of the requested Advance, upon satisfaction of the conditions specified in Article 5, the Bank shall make the amount of the Advance available to the Borrowers by crediting the proceeds thereof to the general deposit account in the name of one or more of the Borrowers, as designated in writing by certificate signed by all of the Borrowers, in the Bank. If the date of the requested Advance is not a Business Day, the Advance shall be made on the first Business Day thereafter, upon the satisfaction of the conditions specified in Article 5. No Advance shall be in an amount less than $1,000. Not more than one request for an Advance shall be made on any day.

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrower. The amount of the line of credit (the "Commitment") is Twelve Million Dollars ($12,000,000).

  • Credit Line Subject to the terms and conditions set forth in this Agreement, on and after the Closing Date to but not including the date that is the earlier of (x) the date on which this Agreement is terminated pursuant to Section 10. and (y) the date on which IBM Credit terminates the Credit Line pursuant to Section 9., IBM Credit agrees to extend to the Customer a credit line ("Credit Line") in the amount set forth the Attachment A pursuant to which IBM Credit will make to the Customer, from time to time, Advances in an aggregate amount at any one time outstanding not to exceed the Maximum Advance Amount. Notwithstanding any other term or provision of this Agreement, IBM Credit may, at any time and from time to time, in its sole discretion (x) temporarily increase the amount of the Credit Line above the amount set forth in Attachment A and decrease the amount of the Credit Line back to the amount of the Credit Line set forth in Attachment A, in each case upon written notice to the Customer and (y) make Advances pursuant to this Agreement upon the request of Customer in an aggregate amount at any one time outstanding in excess of the Credit Line.

  • 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.

  • Promissory Note The Promissory Note as set forth in Section 2;

  • The Letter of Credit Facility (a) On the terms and conditions set forth herein (i) the Issuing Bank agrees, in reliance upon the agreements of the other Lenders set forth in this SECTION 3.01, (A) from time to time on any Business Day during the period from the Execution Date to the Termination Date to issue Letters of Credit for the account of the Company, and to amend or renew Letters of Credit previously issued by it, in accordance with SUBSECTIONS 3.02(c) and 3.02(e), and (B) to honor drafts under the Letters of Credit; and (ii) the Lenders severally agree to participate in Letters of Credit Issued for the account of the Company; provided, that the Issuing Bank shall not be obligated to Issue, and no Lender shall be obligated to participate in, any Letter of Credit if, as of the date of Issuance of such Letter of Credit (the "ISSUANCE DATE"), after giving effect to such Issuance, (1) the Effective Amount of all L/C Obligations plus the Effective Amount of all Revolving Loans would exceed the lesser of (x) the combined Commitments and (y) the Borrowing Base, or (2) the Effective Amount of the L/C Obligations would exceed the L/C Commitment. Within the foregoing limits, and subject to the other terms and conditions hereof, the Company's ability to obtain Letters of Credit shall be fully revolving, and, accordingly, the Company may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed.

  • Revolving Credit Note The obligation of the Borrowers to pay the Revolving Loan, with interest, shall be evidenced by a promissory note (as from time to time extended, amended, restated, supplemented or otherwise modified, the “Revolving Credit Note”) substantially in the form of EXHIBIT A-1 attached hereto and made a part hereof, with appropriate insertions. The Revolving Credit Note shall be dated as of the Closing Date, shall be payable to the order of the Lender at the times provided in the Revolving Credit Note, and shall be in the principal amount of the Revolving Credit Committed Amount. Each of the Borrowers acknowledges and agrees that, if the outstanding principal balance of the Revolving Loan outstanding from time to time exceeds the face amount of the Revolving Credit Note, the excess shall bear interest at the rates provided from time to time for advances under the Revolving Loan evidenced by the Revolving Credit Note and shall be payable, with accrued interest, ON DEMAND. The Revolving Credit Note shall not operate as a novation of any of the Obligations or nullify, discharge, or release any such Obligations or the continuing contractual relationship of the parties hereto in accordance with the provisions of this Agreement.

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