Liquidity Note Sample Clauses
A Liquidity Note clause defines the terms under which a company issues a short-term debt instrument to raise immediate cash, often in situations where quick access to funds is necessary. This clause typically outlines the note's principal amount, interest rate, maturity date, and repayment conditions, and may specify triggers for early repayment or conversion into equity. Its core practical function is to provide the company with flexible, short-term financing while clearly setting expectations for repayment, thereby addressing immediate liquidity needs and reducing uncertainty for both issuer and investor.
Liquidity Note. The Liquidity Note shall be due and -------------- payable as follows: during the Revolving Credit Period, the Loan evidenced by the Liquidity Note shall be a revolving credit facility which will allow the Borrower to request such amounts as Borrower may elect from time to time (each such amount being herein called an "Advance") so long as the aggregate amount of Advances outstanding at any time under the Liquidity Note does not exceed One Million and NO/100 Dollars ($1,000,000.00) provided however, the minimum Advance must be at least $50,000.00. The Borrower shall have the right to borrow, repay, and borrow again under the credit facility. Interest shall be due and payable quarterly and shall accrue at the Prime Rate. The outstanding principal balance of the Liquidity Note on September 15, 2002 shall convert to a term facility (the "Term Period") and shall be payable in accordance with the terms of the Liquidity Note.
Liquidity Note. The Liquidity Note shall be due and payable as follows: during the Revolving Credit Period, the Loan evidenced by the Liquidity Note shall be a revolving credit facility which will allow the Borrower to request such amounts as Borrower may elect from time to time (each such amount being herein called an "Advance") so long as the aggregate amount of Advances outstanding at any time under the Liquidity Note does not exceed One Million and NO/100 Dollars ($1,000,000.00) provided however, the minimum Advance must be at least $50,000.00. The Borrower shall have the right to borrow, repay, and borrow again under the credit facility. Interest shall be due and payable quarterly and shall accrue at the Prime Rate. The outstanding principal balance of the Liquidity Note on September 15, 2003 shall convert to a term facility (the "Term Period") and shall be payable in accordance with the terms of the Liquidity Note.
Liquidity Note. Section 3.1 Section 3.2 Section 3.3 Section 3.4
Liquidity Note. Amounts so funded by TMCC will be applied by the Indenture Trustee pursuant to the written direction of the Servicer, first, to fund any shortfalls described in Section 5.08(a) in the order of priority of payments specified in Section 5.06, and then shall be deposited into the Reserve Account until the amount on deposit therein equals the Specified Reserve Account Balance. From and after the occurrence of any event described in this Section 5.08(b), the Reserve Account must be maintained as detailed in Section 5.7.
Liquidity Note. Terminated and intentionally deleted.
Liquidity Note. All Liquidity Loans made by each -------------- Liquidity Lender under this Article IIA shall be evidenced by, and repaid ----------- with interest in accordance with, a single promissory note of the Borrower in substantially the form of Exhibit A-4 attached hereto, duly completed in ----------- a principal amount equal to the Total Liquidity Commitment Amount, payable to the Loan Agent for the benefit of the Liquidity Lenders (the "LIQUIDITY NOTE"). The Loan Agent is hereby authorized by the Borrower and each Liquidity Lender to endorse on the schedule attached to the Liquidity Note the amount of each respective Liquidity Loan and of each payment of principal received by the Loan Agent on account of such Liquidity Loan, which endorsement shall, in the absence of demonstrable error, be conclusive as to the outstanding balance of such Liquidity Loans made by the Liquidity Lenders; provided, that the failure to make such notation -------- with respect to any Liquidity Loan or payment shall not limit or otherwise affect the obligations of the Borrower or the Liquidity Lenders under this Article IIA or the Liquidity Note. -----------
Liquidity Note. Section 3.1 Issuance of Liquidity Note