New Revolving Note Sample Clauses

New Revolving Note. Exhibit A to the Credit Agreement is hereby amended to read as set forth on Exhibit A attached to this Amendment.
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New Revolving Note. Upon execution of this Amendment and the satisfaction of all of the conditions precedent, the Bank will extend a short term revolving loan to the Borrower in the maximum principal sum of One Hundred Fifty Thousand ($150,000.00) ("The New Revolving Note") according to the provisions of the New Revolving Note and this Amendment. All outstanding accrued interest and principal on the New Revolving Note is due and payable in full on March 31, 2000. Interest shall accrue at the rate of 1% in excess of the Bank's Base Rate (as defined in the New Note). 3.3 The first line in Exhibit A-1 (Borrower Base Definition) shall be deleted and replaced with the following: "Borrowing Base means the sum of 80% of Eligible Accounts Receivable (as defined below) plus the lesser of $300,000.00 or 40% of Eligible Inventory (as defined below)." 3.4 Section 8.2(a) of the Agreement is hereby deleted and the following paragraphs shall replace such section: "Tangible Net Worth. Maintain a minimum Tangible Net Worth of at least $1,400,000.00 from June 30, 1999 through March 31, 2000." "Tangible Net Worth" means the total assets less total liabilities and less the following types of assets: (1) leasehold improvements; (2) receivables and other investments in or amounts due from any shareholder, director, officer, employee or other person or entity related to or affiliated with the Borrower; (3) goodwill, patents, copyrights, mailing lists, tradenames, trademarks, servicing rights, organizational and franchise costs, bond underwriting costs and other like assets properly classified as intangible. 3.5 Section 8.2(b) of the Agreement is hereby deleted and the following paragraph shall replace such section: "Total Liabilities to Tangible Net Worth Ration. Maintain a ratio of total liabilities to Tangible Net Worth of less than 1.25 to 1.00 from June 30, 1999 and at all times thereafter." 3.6 Section 8.2(c) of the Agreement is hereby deleted and the following paragraph shall replace such section: (i) The Borrower shall operate at a profit during the fiscal quarter ending September 30, 1999; and (ii) The Borrower shall have a net income that exceeds $60,000.00 during the fiscal quarter that ends December 31, 1999; and (iii) The Borrower shall have a net income that exceeds $130,000.00 during the five month time period which ends on February 28, 2000." 3.7 Section 8.2(d) of the Agreement is hereby deleted and the following paragraphs shall replace such section: "The Borrower shall maintain a D...
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New Revolving Note. The Borrower has executed and delivered to the Lender that certain Fifth Amended and Restated Revolving Note of even date herewith in the original principal amount of $4,250,000 made payable to the order of the Lender (the "New Revolving Note"). The Borrower and Guarantors acknowledge and agree that the New Revolving Note is a complete restatement and amendment of the Fourth Amended Note and supersedes the Fourth Amended Note in its entirety. Borrower acknowledges and agrees that any and all references contained in the Credit Agreement, the First Life Insurance Assignment, the Second Life Insurance Assignment, the Third Life Insurance Assignment or any other document or agreement executed in connection therewith to the term "Note" or "Revolving Note" shall henceforth mean and refer to the New Revolving Note. Borrower fully acknowledges and agrees that any indebtedness of the Borrower to the Lender pursuant to the New Revolving Note shall be secured by, among other things, the First Life Insurance Assignment, the Second Life Insurance Assignment and the Third Life Insurance Assignment. Upon execution of this Agreement and the New Revolving Note, the Lender shall return the Fourth Amended Note to the Borrower.
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New Revolving Note. The Borrower has executed and delivered to the Lender that certain Sixth Amended and Restated Revolving Note of even date herewith in the original principal
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New Revolving Note. The Borrower shall have executed and ------------------ delivered to the New Lender the New Revolving Note.
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New Revolving Note 
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Related to New Revolving Note

  • 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.

  • Revolving Notes The Revolving Loans made by each Lender shall be evidenced by a duly executed promissory note of the Borrower to such Lender in an original principal amount equal to such Lender's Revolving Commitment Percentage of the Revolving Committed Amount and in substantially the form of Exhibit 2.1(e).

  • The Revolving Credit Notes The Revolving Credit Loans shall be evidenced by the Revolving Credit Notes. A Revolving Credit Note shall be payable to the order of each Lender in an aggregate principal amount equal to such Lender's Revolving Credit Commitment. The Borrowers irrevocably authorize each Lender to make or cause to be made, at or about the time of the Drawdown Date of any Revolving Credit Loan or at the time of receipt of any payment of principal on such Lender's Revolving Credit Notes, an appropriate notation on such Lender's Revolving Credit Note Record reflecting the making of such Revolving Credit Loan or (as the case may be) the receipt of such payment. The outstanding amount of the Revolving Credit Loans set forth on such Lender's Revolving Credit Note Record shall be prima facie evidence of the principal amount thereof owing and unpaid to such Lender, but the failure to record, or any error in so recording, any such amount on such Lender's Revolving Credit Note Record shall not limit or otherwise affect the obligations of the Borrowers hereunder or under any Revolving Credit Note to make payments of principal of or interest on any Revolving Credit Note when due. Upon receipt of an affidavit of an officer of any Lender as to the loss, theft, destruction or mutilation of any Revolving Credit Note or any other security document which is not of public record, and, in the case of any such loss, theft, destruction or mutilation, upon surrender and cancellation of such Revolving Credit Note or other security document, the Borrowers will issue, in lieu thereof, a replacement Revolving Credit Note or other security document in the same principal amount thereof and otherwise of like tenor.

  • 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.

  • Term Loan Notes If so requested by any Lender by written notice to Borrower (with a copy to Administrative Agent) at least two (2) Business Days prior to the Closing Date, or at any time thereafter, Borrower shall execute and deliver to such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender pursuant to Section 10.6) on the Closing Date (or, if such notice is delivered after the Closing Date, promptly after Borrower’s receipt of such notice) a Term Loan Note or Term Loan Notes to evidence such Lender’s Term Loans to such Borrower.

  • The Revolving Credit Facility On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company during the period set forth below in an aggregate principal amount not to exceed, at any one time outstanding, the lesser of $25,000,000.00 (the “Commitment”), or the “Borrowing Base” (as calculated pursuant to the Borrowing Base Report attached hereto as Exhibit A). Within the limits of the Commitment, the Company may borrow, repay and reborrow.

  • Revolving Credit Notes The Obligation of the Borrower to repay the aggregate unpaid principal amount of the Revolving Credit Loans made to it by each Bank, together with interest thereon, shall be evidenced by a Revolving Credit Note dated the Closing Date payable to the order of such Bank in a face amount equal to the Revolving Credit Commitment of such Bank.

  • Revolver Notes The Revolver Loans made by each Lender and interest accruing thereon shall be evidenced by the records of Agent and such Lender. At the request of any Lender, Borrowers shall deliver a Revolver Note to such Lender.

  • Term Loan Facility (a) On the Closing Date, upon the terms and conditions set forth in this Agreement and in reliance upon the representations and warranties of the Borrower herein set forth, each Term Loan Lender severally agrees to make a Term Loan to the Borrower in the full amount of such Term Loan Lender’s Term Loan Commitment. The Term Loan Commitments shall terminate upon the advance of the Term Loans in the full amount of the Aggregate Term Loan Commitment, and Term Loans that are repaid may not be reborrowed. (b) Term Loans hereunder shall be made ratably by the several Term Loan Lenders in accordance with their respective Term Loan Pro Rata Shares. (c) All Term Loan Obligations shall be due and payable by the Borrower on the Term Loan Maturity Date unless such Term Loan Obligations shall sooner become due and payable pursuant to Section 8.01 or as otherwise provided in this Agreement. (d) Each Borrowing under the Term Loan Facility shall be in an amount not less than One Million Dollars ($1,000,000) for a Borrowing consisting of LIBOR Loans and Five Hundred Thousand Dollars ($500,000) in the case of a Borrowing consisting of ABR Loans and, in either case, if in excess of the specified amount, in integral multiples of One Hundred Thousand Dollars ($100,000). Each Borrowing under the Term Loan Facility shall consist of a Term Loan made by each Term Loan Lender in the proportion of its Term Loan Pro Rata Share. On such terms and conditions, Term Loans may be outstanding as ABR Loans or LIBOR Loans. Each type of Term Loan shall be made and maintained at the applicable Term Loan Lender’s Lending Office for such type of Loan. The failure of any Term Loan Lender to make any requested Term Loan to be made by it on the date specified for such Term Loan shall not relieve any other Term Loan Lender of its obligation (if any) to make such Term Loan on such date, but no Term Loan Lender (or other Lender) shall be responsible for the failure of any other Term Loan Lender to make such Term Loan to be made by such other Term Loan Lender.

  • Revolving Loan Notes The Revolving Loans made by the Lenders to a Borrower shall be evidenced, upon request by any Lender, by a promissory note of such Borrower payable to each Lender in substantially the form of Exhibit 2.7(a) hereto (the “Revolving Loan Notes”) and in a principal amount equal to the amount of such Lender’s Commitment Percentage of the Revolving Loan Commitment as originally in effect.

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