Note and Security Agreement. Upon Lender’s approval of the application portion of this Agreement, as evidenced by its provision to Borrower a Conditional Loan Determination (“Determination”) approving the uncommitted line of credit, Applicant(s) shall be considered and referred to herein as Borrowers. Borrowers hereby apply for a loan in the amount of the Loan Request stated on page 1, from Lender. This loan is given for business purposes and for the purchase of products solely for use in the Borrower’s farming operations. ANY LOAN MADE OR LINE OF CREDIT OFFERED PURSUANT TO THE TERMS OF THIS AGREEMENT IS UNCOMMITTED, MEANING EVERY REQUEST FOR A FULL OR PARTIAL ADVANCE, DRAW, OR DISBURSEMENT ON THE LOAN/LINE OF CREDIT IS SUBJECT TO LENDER’S APPROVAL, IN ITS SOLE AND ABSOLUTE DISCRETION. 1.
Note and Security Agreement. Upon Lender’s approval of the application portion of this Agreement, Applicant(s) shall be considered and referred to herein as Borrowers. Borrowers hereby apply for a loan in the amount of the Loan Request stated on page 1, from Lender. This loan is given for business purposes and for the purpose of products solely for use in the Borrower’s farming operations. 1.
Note and Security Agreement. The Buyer shall deliver to the Seller the Note and Security Agreement, executed by Buyer.
Note and Security Agreement. Simultaneous with the execution and delivery of this Settlement Agreement, HemoSense will issue a Secured Subordinated Promissory Note to Inverness in the form attached as Exhibit 2 hereto (the “Note”), and the Parties will execute a Security Agreement in the form attached as Exhibit 3 hereto (the “Security Agreement”).
Note and Security Agreement. Subject to the terms and conditions hereof, the Note shall constitute a non-recourse obligation of the Executive payable solely from the distributions and other payments with respect to the Executive Securities. To secure the Executive's obligations under the Note and this Agreement, the Executive shall execute and deliver simultaneously with the execution and delivery of this Agreement a Security Agreement in the form attached hereto as Exhibit C (the "Security Agreement") pursuant to which the Executive shall grant to Varde a first priority, perfected security interest in all of his right, title and interest in the Executive Securities.
Note and Security Agreement. The Loan shall be evidenced by a note and security agreement in customary form to be executed herewith.
Note and Security Agreement. Investor has not made any transfer, assignment, sale or other disposition of the Security Agreement or the Note or any of its rights thereunder, or entered into any agreement to transfer, assign, sell or otherwise dispose of the Security Agreement or the Note or any of its rights thereunder.
Note and Security Agreement. Buyer and Shareholder will deliver to Seller the executed Note, Security Agreement and Guaranty, as contemplated by Sections 2.1 and 2.2 above.
Note and Security Agreement. Borrower’s obligation to pay the principal of, and interest on, the Advances made by Lender shall be evidenced by a single promissory note (the “Note”) duly executed and delivered by Borrower in the form of Exhibit B attached hereto and secured by a security interest under the security agreement the parties are entering into contemporaneously with this Agreement (the “Security Agreement”). All Advances made by Lender to Borrower, and all payments in respect thereof, shall be recorded by Lender and shall be set forth on the grid attached to the Note. Failure to make any such notation on such grid, however, shall not affect Borrower’s obligations in respect of such Advances.
Note and Security Agreement. All Loans pursuant to this Agreement shall be evidenced by Borrower's promissory note, substantially in the form of Exhibit A attached hereto (the "Note") in the principal amount of $10,000,000.00 and secured by the Borrower Security Agreement dated as of the date hereof between the Borrower and the Bank, in form and substance satisfactory to the Bank, providing a lien on, among other things, all the account receivables and inventory of the Borrower (the "Security Agreement") and all the UCC Financing Statements executed by the Borrower in favor of the Bank related thereto (collectively, the "Security Documents"); provided, however, that -------- the principal amount actually payable at any time under the Note shall not be more than the advances pursuant to this Agreement which then remain unpaid, as reflected on the Bank's books and records; provided further, ---------------- however, that if the aggregate outstanding advances pursuant to this Agreement shall exceed the principal amount of the Note, such advances in excess of the amount of the Note shall nevertheless be payable as provided in this Agreement. The Extensions of Credit shall be available to the Borrower up to December 31, 2002 (the "Commitment Termination Date"). No Extension of Credit shall be outstanding for more than eighteen (18) months. The Note shall be dated the date of this Agreement and be payable on June 30, 2004 (the "Expiry Date"), and if earlier, at such other times as shall be required by the terms of this Agreement. The Borrower reaffirms that the Security Documents are the collateral for the Line of Credit.
