Master Note a. The Issuer will, prior to the Effective Date, deliver to the Bank a Note Certificate registered in the name of Cede & Co., a nominee of DTC, evidencing the Obligations. The Note Certificate shall bear the manual or facsimile signatures of one or more Authorized Persons and specify the date of issuance (the “Issue Date”), the full legal name of the Issuer, and the name of the bank acting as paying agent for the Issuer.
b. Any Obligation (as evidenced by the Note Certificate) shall, upon the Bank’s issuance of such Obligation in compliance with the terms of this Agreement on behalf of the Issuer, bind the Issuer notwithstanding that one or both of such Authorized Persons providing the Instructions for issuance of the Obligation are no longer Authorized Persons on the date such Obligation is issued by the Bank. Furthermore, the Issuer agrees that the Bank shall have no duty or responsibility to determine the genuineness of the facsimile and/or manual signatures appearing on any document, including but not limited to any Instructions or the Note Certificate, if such facsimile or manual signature reasonably resembles the corresponding specimen signature of an Authorized Person listed on the most recent Certificate of Authorized Persons provided by the Issuer to the Bank.
Master Note. Advances outstanding under the Revolving Loan shall be evidenced by the Master Note substantially in the form of Exhibit A annexed hereto and the balance due from time to time on the Master Note shall be conclusively evidenced by the Bank's records of disbursements and repayments, subject to Subsection 2.1(f).
Master Note. The Master Note, properly executed. ------------
Master Note. If this Note is designated herein as a MASTER NOTE or is denoted on Bank’s records as a MASTER NOTE, then this Note evidences a line of credit and Borrower shall be liable for only so much of the principal amount as shall be equal to the total of the amounts advanced to or for Borrower by Bank from time to time, less all payments made by or for Borrower and applied by Bank to principal, and for interest on each such advance, fees, premiums, charges and costs and expenses incurred or due hereunder, all as shown on Bank’s books and records which shall be conclusive evidence of the amount owed by Borrower under this Note, absent a clear and convincing showing of bad faith or manifest error. If this is a MASTER NOTE, upon the occurrence of an Event of Default or the occurrence of an event which, with the giving of notice or a lapse of time, or both, would become an Event of Default under this Note in addition to its other rights and remedies, Bank may terminate or suspend Borrower’s right to receive any future or additional advances under this Note and the other loan documents.
Master Note. If this Note is designated herein as a MASTER NOTE or is denoted on Lender’s records as a MASTER NOTE, then this Note evidences a line of credit and Borrower shall be liable for only so much of the principal amount as shall be equal to the total of the amounts advanced to or for Borrower by Lender from time to time, less all payments made by or for Borrower and applied by Lender to principal, and for interest on each such advance, fees, premiums, charges and costs and expenses incurred or due hereunder all as shown on Xxxxxx’s books and records which shall be conclusive evidence of the amount owed absent a clear and convincing showing of gross negligence or gross misconduct.
Master Note. Each of the advances under the Line of Credit shall be made pursuant to the Master Note. The Master Note will initially not bear interest, but if parties determine that the Master Note is likely to remain outstanding for more than six months, the parties have agreed to select a commercially reasonable rate of interest (the "Interest Rate") based on the Prime Rate (as defined below). Once established such Interest Rate may be adjusted by the parties from time to time to reflect any changes to the composite Prime Rate as published in the Wall Street Journal.
Master Note. APPROVAL BRISTOL , TENNESSEE ------------------------- APRIL 30 , 1996 ------------------------- FOR VALUE RECEIVED, the undersigned (jointly and severally, if more than one) promise(s) to pay to the order of First Tennessee Bank National Association (hereinafter referred to as the "Bank") at any lending office in the state mentioned above or at such other place as the holder hereof may designate in writing, in current local funds, the sum of up to THREE MILLION FIVE HUNDRED THOUSAND DOLLARS AND NO/100******************Dollars ($3,500,000.00), or so much thereof as may be advanced hereunder prior to maturity, together with interest on the unpaid principal balance from day-to-day remaining, computed from the day of advance until maturity at the following rate: [ ] FIXED RATE:______% per annum, [X] VARIABLE RATE: A variable rate per annum ("Variable Rate") which shall be equal to the lesser of (a) the maximum rate of interest ("Maximum Rate") which Bank may lawfully charge, or (b) a rate which is______% per annum higher than the base commercial rate of interest ("Base Rate") established from time to time by Bank. Each change in the Variable Rate which results from a change in the Maximum Rate shall become effective, without notice to the undersigned, on the same date that the Maximum Rate changes. Each change in the Variable Rate which results from a change in the Base Rate shall become effective, without notice to the undersigned, on [ ] the same date that the Base Rate changes; [ ] the first day of the calender month following any change in the Base Rate; [ ] the first day of the calendar quarter following any change in the Base Rate; [ ] other _________________________. The Base Rate is one of several interest rate indices employed by the Bank. The undersigned acknowledge(s) that the Bank has made, and may hereafter make, loans bearing interest at rates which are higher or lower than the Base Rate.
Master Note. The term "Master Note" means the Master Promissory Note of even date herewith in a principal amount not to exceed the Maximum Principal Balance in the form attached hereto as Exhibit "D" executed by Borrower as obligor thereunder and delivered to Lender concurrently with this Agreement, and any substitutions or replacements therefor which reference this Agreement.
Master Note. This Note evidences a line of credit and Borrower shall be liable for only so much of the principal amount as shall be equal to the total of the amounts advanced to or for Borrower by Bank from time to time, less all payments made by or for Borrower and applied by Bank to principal, and for interest on each such advance, fees, premiums, charges and costs and expenses incurred or due hereunder, all as shown on Bank’s books and records which shall be conclusive evidence of the amount owed by Borrower under this Note, absent a clear and convincing showing of bad faith or manifest error. Upon the occurrence of an Event of Default or the occurrence of an event which, with the giving of notice or a lapse of time, or both, would become an Event of Default under this Note, in addition to its other rights and remedies, Bank may terminate or suspend Borrower’s right to receive any future or additional advances under this Note and the other loan documents.
Master Note. The maximum amount of the Revolving Loan is evidenced by a Master Note dated October 29, 1993, together with an Allonge to Master Note attached hereto as Exhibit B, and the balance due from time to time on the Master Executed at Woodbridge, New Jersey on the date first above mentioned. ATTEST: CUSTOMEDIX CORPORATION /s/ BARRX X. XXXXXXXX BY: /s/ GORDXX X. XXXXX --------------------------------- ----------------------------- Secretary Chairman [SEAL] ATTEST: JENERIC/PENTRON INCORPORATED /s/ MARTXX X. XXXXXXXX BY: /s/ GORDXX X. XXXXX --------------------------------- ----------------------------- Secretary President [SEAL] ATTEST: HUNTERDON TRANSPORT, INC. /s/ BARRX X. XXXXXXXX BY: /s/ MARTXX X. XXXXXXXX --------------------------------- ----------------------------- Secretary President [SEAL] ATTEST: AMERICAN THERMOCRAFT CORPORATION /s/ GORDXX X. XXXXX BY: /s/ MARTXX X. XXXXXXXX --------------------------------- ----------------------------- Secretary Vice President [SEAL] ATTEST: TRANSIDYNE GENERAL CORPORATION /s/ BARRX X. XXXXXXXX BY: /s/ GORDXX X. XXXXX --------------------------------- ----------------------------- Secretary Chairman [SEAL] ATTEST: DENPAC/FIVE STARS INCORPORATED /s/ BARRX X. XXXXXXXX BY: /s/ GORDXX X. XXXXX --------------------------------- ----------------------------- Secretary Chairman [SEAL] NEW JERSEY NATIONAL BANK BY: /s/ STEPXXX X. XXXXX ----------------------------- STEPXXX X. XXXXX, Xxce President 5 SECOND ALLONGE TO $10,176,179.65 TERM NOTE $10,176,719.65 November __, 1995 Woodbridge, New Jersey This modification made this ___ day of November, 1995 to the Term Note dated February 28, 1991 of the undersigned payable to the order of NEW JERSEY NATIONAL BANK ("Bank") and to which Term Note these presents are so firmly affixed as to become a part thereof.
1. Except as specifically modified herein, all of the terms and conditions of said Term Note shall remain in full force and effect, and any term capitalized and not otherwise defined herein shall have the meaning ascribed thereto in the Term Note.
2. Notwithstanding anything to the contrary set forth in the Term Note, the Term Note is hereby amended and modified as follows:
a. The outstanding principal amount shall be repaid to the Bank as follows: consecutive monthly installments each in the amount of $33,333.33 through the month of December, 1999, followed by a final installment representing all outstanding principal and accrued interest on January 2, 2000.
b. The outstanding p...
