Common use of Noteless Agreement; Evidence of Indebtedness Clause in Contracts

Noteless Agreement; Evidence of Indebtedness. (a) The Lender shall maintain accounts in which it will record (i) the amount of each Loan and (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to the Lender hereunder. (b) Absent manifest error, the entries maintained in the accounts maintained pursuant to Section 2.10(a) shall be prima facie evidence of the existence and amounts of the Obligations therein recorded; provided, however, that the failure of the Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Obligations in accordance with their terms. (c) The Lender may request that its Loans be evidenced by a promissory note representing the Term Loan or each Delayed Draw Term Loan, as applicable, substantially in the form of Exhibit D (each a “Note”). In such event, the Borrower shall prepare, execute and deliver to the Lender such Note or Notes payable to the order of the Lender. Thereafter, the Loans evidenced by such Note and interest thereon shall at all times (prior to any assignment pursuant to Section 11.3) be represented by one or more Notes payable to the order of the payee named therein, except to the extent that any the Lender subsequently returns any such Note for cancellation and requests that such Loans once again be evidenced by a Note or Notes.

Appears in 1 contract

Samples: Credit Agreement (Xenith Bankshares, Inc.)

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Noteless Agreement; Evidence of Indebtedness. (ai) The Each Lender shall maintain in accordance with its usual practice an account or accounts in which it will record (i) evidencing the amount indebtedness of each Loan and (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to such Lender resulting from each Loan made by such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. (bii) Absent manifest error, The Administrative Agent shall also maintain the Register as set forth in Section 12.1(b)(iv). (iii) The entries maintained in the accounts maintained pursuant to Section 2.10(aparagraphs (i) and (ii) above shall be prima facie evidence of the existence and amounts of the Obligations therein recordedrecorded absent manifest error; provided, however, that the failure of the Administrative Agent or any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Obligations in accordance with their terms. (civ) The Any Lender may request that its Loans be evidenced by a promissory note representing the Term Loan or each Delayed Draw Term Loan, as applicable, in substantially in the form of Exhibit D (each a Note”). In such event, the Borrower shall prepare, execute and deliver to the such Lender such Note or Notes payable to the order of the such Lender. Thereafter, the Loans evidenced by such Note and interest thereon shall at all times (prior to any assignment pursuant to Section 11.312.3) be represented by one or more Notes payable to the order of the payee named therein, except to the extent that any the such Lender subsequently returns any such Note for cancellation and requests that such Loans once again be evidenced by a Note or Notesas described in paragraphs (i) and (ii) above.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Moneygram International Inc)

Noteless Agreement; Evidence of Indebtedness. (a) The Each Lender shall maintain in accordance with its usual practice an account or accounts in which it will record (i) evidencing the amount indebtedness of each Loan and (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to such Lender resulting from each Loan made by such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. (b) Absent manifest error, The Administrative Agent shall also maintain the Register as set forth in Section 12.01(c). (c) The entries maintained in the accounts maintained pursuant to Section 2.10(aparagraphs (a) and (b) above shall be prima facie evidence of the existence and amounts of the Obligations therein recordedrecorded absent manifest error; provided, however, that the failure of the Administrative Agent or any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Obligations in accordance with their terms. (cd) The Any Lender may request that its Loans be evidenced by a promissory note representing the Term Loan or each Delayed Draw Term Loan, as applicable, in substantially in the form of Exhibit D (each a Note”). In such event, the Borrower shall prepare, execute and deliver to the such Lender such Note or Notes payable to the order of the such Lender. Thereafter, the Loans evidenced by such Note and interest thereon shall at all times (prior to any assignment pursuant to Section 11.312.01) be represented by one or more Notes payable to the order of the payee named therein, except to the extent that any the such Lender subsequently returns any such Note for cancellation and requests that such Loans once again be evidenced by a Note or Notesas described in paragraphs (a) and (b) above.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Moneygram International Inc)

Noteless Agreement; Evidence of Indebtedness. (a) The Lender shall maintain in accordance with its usual practice an account or accounts in which it will record (i) evidencing the amount indebtedness of each Loan and (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to the Lender hereunder, including the amounts of principal and interest payable and paid to the Lender from time to time hereunder. (b) Absent manifest error, the The entries maintained in the accounts maintained pursuant to Section 2.10(asubsection (a) above shall be prima facie evidence of the existence and amounts of the Obligations obligations therein recorded; provided, however, that the failure of the Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Obligations such obligations in accordance with their terms. (c) The Lender may request that its Loans the Loan be evidenced by a promissory note representing the Term Loan or each Delayed Draw Term Loan, as applicable, substantially in the form of Exhibit D (each a “Note”). In such event, the Borrower shall prepare, execute and deliver to the Lender such a Note or Notes payable to the order of the Lender. Thereafter, the Loans evidenced by such Note Loan and interest thereon shall at all times (prior to including after any assignment pursuant to Section 11.37.07) be represented by one or more Notes payable to the order of the payee named thereintherein or any assignee pursuant to Section 7.07, except to the extent that any the Lender or any such assignee subsequently returns any such Note for cancellation and requests that such Loans the Loan once again be evidenced by a Note or Notesas described in subsection (a) above.

Appears in 1 contract

Samples: Credit Agreement (Ohio Edison Co)

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Noteless Agreement; Evidence of Indebtedness. (ai) The Each Lender shall maintain in accordance with its usual practice an account or accounts in which it will record (i) evidencing the amount indebtedness of each Loan and (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to such Lender resulting from each Loan made by such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. (bii) Absent manifest error, The Administrative Agent shall also maintain the Register as set forth in Section 12.1(b)(iv). (iii) The entries maintained in the accounts maintained pursuant to Section 2.10(aparagraphs (i) and (ii) above shall be prima facie evidence of the existence and amounts of the Obligations therein recordedrecorded absent manifest error; provided, however, that the failure of the Administrative Agent or any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Obligations in accordance with their terms. (civ) The Any Lender may request that its Loans be evidenced by a promissory note representing the Term Loan or each Delayed Draw Term Loan, as applicable, in substantially in the form of Exhibit D (a Revolving Credit Note, a Term Note or a Swing Line Note, in each a “Note”)case as applicable. In such event, the Borrower shall prepare, execute and deliver to the such Lender such Note or Notes payable to the order of the such Lender. Thereafter, the Loans evidenced by such Note and interest thereon shall at all times (prior to any assignment pursuant to Section 11.312.3) be represented by one or more Notes payable to the order of the payee named therein, except to the extent that any the such Lender subsequently returns any such Note for cancellation and requests that such Loans once again be evidenced by a Note or Notesas described in paragraphs (i) and (ii) above.

Appears in 1 contract

Samples: Credit Agreement (Moneygram International Inc)

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