Common use of Notation of Payment Clause in Contracts

Notation of Payment. Each Lender agrees that before disposing of any Note held by it, or any part thereof (other than by granting participations therein), such Lender will make a notation thereon of all principal payments previously made thereon and of the date to which interest thereon has been paid and will notify the Borrower of the name and address of the transferee of that Note; provided, however, that the failure to make (or any error in the making of) such a notation or to notify the Borrower of the name and address of such transferee shall not limit or otherwise affect the obligation of the Borrower hereunder or under such Notes with respect to the Loans and payments of principal or interest on any such Note.

Appears in 4 contracts

Samples: Loan Agreement (Elgar Holdings Inc), Senior Subordinated Credit Agreement (Alpine Group Inc /De/), Senior Subordinated Credit Agreement (Superior Telecom Inc)

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Notation of Payment. Each Lender agrees that before disposing of ------------------- any Note held by it, or any part thereof (other than by granting participations therein), such Lender will make a notation thereon of all principal payments previously made thereon and of the date to which interest thereon has been paid and will notify the Borrower of the name and address of the transferee of that Note; provided, however, that the failure to make (or any error in the making of) such -------- ------- a notation or to notify the Borrower of the name and address of such transferee shall not limit or otherwise affect the obligation of the Borrower hereunder or under such Notes with respect to the Loans and payments of principal or interest on any such Note.

Appears in 2 contracts

Samples: Senior Subordinated Credit Agreement (Primestar Inc), Senior Subordinated Credit Agreement (Primestar Inc)

Notation of Payment. Each Lender agrees that before disposing of ------------------- any Note held by it, or any part thereof (other than by granting participations therein), such Lender will make a notation thereon of all principal payments previously made thereon and of the date to which interest thereon has been paid and will notify the Borrower of the name and address of the transferee of that Note; provided, however, provided that the failure to make (or any error in the making of) such a -------- notation or to notify the Borrower of the name and address of such transferee shall not limit or otherwise affect the obligation of the Borrower hereunder or under such Notes with respect to the Loans and payments of principal or interest on any such Note.

Appears in 1 contract

Samples: Senior Subordinated Credit Agreement (Petersen Holdings LLC)

Notation of Payment. Each The Lender agrees that before disposing of any a Note held by it, or any part thereof (other than by granting participations therein), such the Lender will make a notation thereon of all principal payments previously made thereon and of the date to which interest thereon has been paid and will notify the Borrower Borrowers of the name and address of the transferee of that Note; provided, however, provided that the failure to make (or any error in the making of) such a notation of the Loan made under such Note or to notify the Borrower Borrowers of the name and address of such a transferee shall not limit or otherwise affect the obligation obligations of the Borrower Borrowers hereunder or under such Notes Note with respect to the Loans and payments of principal or interest on any such NoteNotes.

Appears in 1 contract

Samples: Third Secured Term Loan Agreement (MSX International Inc)

Notation of Payment. Each Lender agrees that before disposing of ------------------- any Note Notes held by it, or any part thereof (other than by granting participations therein), such Lender will make a notation thereon of all principal payments previously made thereon and of the date to which interest thereon has been paid and will notify the Borrower of the name and address of the transferee of that Note; provided, however, that the failure to make (or any error in the making -------- ------- of) such a notation or to notify the Borrower of the name and address of such transferee shall not limit or otherwise affect the obligation obligations of the Borrower hereunder or under such Notes with respect to the Loans and payments of principal or interest on any such Note.

Appears in 1 contract

Samples: Loan Agreement (Trump Hotels & Casino Resorts Funding Inc)

Notation of Payment. Each Lender agrees that before disposing of any Note held by it, or any part thereof (other than by granting participations therein), such Lender will make a notation thereon of all principal payments previously made thereon and of the date to which interest thereon has been paid and will notify the Borrower of the name and address of the transferee of that Note; provided, however, provided that the failure to make (or any error in the making of) such a notation or to notify the Borrower of the name and address of such transferee shall not limit or otherwise affect the obligation of the Borrower hereunder or under such Bridge Notes with respect to the Loans Bridge Loan and payments of principal or interest on any such Note.

Appears in 1 contract

Samples: Senior Subordinated Credit Agreement (Galey & Lord Inc)

Notation of Payment. Each Lender agrees that before disposing of any Note held by it, or any part thereof (other than by granting participations therein), such Lender will make a notation thereon of all principal payments previously made thereon and of the date to which interest thereon has been paid and will notify the Borrower of the name and address of the transferee of that Note; provided, however, that the failure to make (or any error in the making of) such a notation or to notify the Borrower of the name and address of such transferee shall not limit or otherwise affect the obligation of the Borrower hereunder or under such Notes with respect to the Loans and payments of principal or interest on any such NoteNote (it being understood that the transferee takes subject to the defense of payment as to any payment made but not noted).

Appears in 1 contract

Samples: Bridge Loan Agreement (Constellation Brands Inc)

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Notation of Payment. Each The Lender agrees that before disposing of any a Note held by it, or any part thereof (other than by granting participations therein), such the Lender will make a notation thereon of all principal payments previously made thereon and of the date to which interest thereon has been paid and will notify the Borrower Borrowers of the name and address of the transferee of that Note; provided, however, provided that the failure to make (or any error in the making of) such a notation of the Loan made under such Note or to notify the Borrower Borrowers of the name and address of such a transferee shall not limit or otherwise affect the obligation obligations of the Borrower Borrowers hereunder or under such Notes with respect to the Loans and payments of principal or interest on any such NoteNotes.

Appears in 1 contract

Samples: Secured Term Loan Agreement (MSX International Inc)

Notation of Payment. Each Lender agrees that before disposing of any Note held by it, or any part thereof (other than by granting participations therein), such Lender will make a notation thereon of all principal payments previously made thereon and of the date to which interest thereon has been paid and will notify the Borrower of the name and address of the transferee of that Note; providedPROVIDED, howeverHOWEVER, that the failure to make (or any error in the making of) such a notation or to notify the Borrower of the name and address of such transferee shall not limit or otherwise affect the obligation of the Borrower hereunder or under such Notes with respect to the Loans and payments of principal or interest on any such Note.

Appears in 1 contract

Samples: Senior Subordinated Credit Agreement (Alpine Group Inc /De/)

Notation of Payment. Each Lender agrees that before disposing of any Note held by it, or any part thereof (other than by granting participations therein), such Lender will make a notation thereon of all principal payments previously made thereon and of the date to which interest thereon has been paid and will notify the Borrower of the name and address of the transferee of that Note; provided, however, that the failure to make (or any error in the making of) such a notation or to notify the Borrower of the name and address of such transferee shall not limit or otherwise affect the obligation of the Borrower hereunder or under such Notes with respect to the Loans and payments of principal or interest on any such NoteNote (it being understood that the transferee takes subject to the defense of payment as to any payment made but not noted).

Appears in 1 contract

Samples: Bridge Loan Agreement (Associated Materials Inc)

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