Common use of Notes; Repayment of Term Loan Clause in Contracts

Notes; Repayment of Term Loan. (a) The Term Loan shall be evidenced by this Agreement and the Note duly executed on behalf of the Borrower, dated the Closing Date, in substantially the form attached hereto as Exhibit A, payable to the order of the Lender in the aggregate principal amount equal to the amount of the Term Loan advanced by the Lender plus the amount of interest capitalized thereon in accordance with the terms of this Agreement. The outstanding principal balance of all Obligations shall be payable on the Termination Date (subject to earlier repayment as provided below). The Term Loan (including, without limitation, any interest capitalized thereon and added to the outstanding principal balance of the Term Loan in accordance with the terms hereof) shall bear interest from the date hereof on the outstanding principal balance thereof as set forth in this Article II. The Lender is hereby authorized by the Borrower to endorse on a schedule attached to the Note delivered to the Lender (or on a continuation of such schedule attached to such Note and made a part thereof), or otherwise to record in the Lender’s internal records, an appropriate notation evidencing the date and amount of the Term Loan from the Lender, each payment and prepayment of principal of the Term Loan, each payment of interest on the Term Loan and the other information provided for on such schedule; provided, however, that the failure of the Lender to make such a notation or any error therein shall not affect the obligation of the Borrower to repay the Term Loan made by the Lender in accordance with the terms of this Agreement and the applicable Note. (b) Upon receipt of and indemnification reasonably satisfactory to the Borrower, and an affidavit of the Lender as to the loss, theft, destruction or mutilation of the Lender’s Note and upon cancellation of such Note, the Borrower will issue, in lieu thereof, a replacement Note in favor of the Lender, in the same principal amount thereof and otherwise of like tenor.

Appears in 2 contracts

Samples: Loan Agreement (Act Teleconferencing Inc), Loan Agreement (Act Teleconferencing Inc)

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Notes; Repayment of Term Loan. (a) The Term Loan shall be evidenced by this Agreement and the Note and/or one or more Notes duly executed on behalf of the BorrowerBorrowers, dated the Closing Date, in substantially the form attached hereto as Exhibit AB, payable to the order of the a Lender in the aggregate principal amount equal to the amount of the principal portion of the Term Loan advanced by the such Lender plus the amount of interest capitalized thereon in accordance with the terms of this Agreement. The outstanding principal balance of all Obligations shall be payable on the Termination Date (subject to earlier repayment as provided below). The Term Loan (including, without limitation, any interest capitalized thereon and added to the outstanding principal balance of the Term Loan in accordance with the terms hereof) shall bear interest from the date hereof on the outstanding principal balance thereof as set forth in this Article II. The Each Lender is hereby authorized by the Borrower Borrowers to endorse on a schedule attached to the each Note delivered to the such Lender (or on a continuation of such schedule attached to such Note and made a part thereof), or otherwise to record in the such Lender’s internal records, an appropriate notation evidencing the date and amount of the Term Loan from the such Lender, each payment and prepayment of principal of the such Term Loan, each payment of interest on the Term Loan and the other information provided for on such schedule; provided, however, that the failure of the any Lender to make such a notation or any error therein shall not affect the obligation of the Borrower Borrowers to repay the Term Loan made by the such Lender in accordance with the terms of this Agreement and the applicable NoteNotes. (b) Upon receipt of and indemnification reasonably satisfactory to the BorrowerBorrowers, and an affidavit of the a Lender as to the loss, theft, destruction or mutilation of the such Lender’s Note and upon cancellation of such Note, the Borrower Borrowers will issue, in lieu thereof, a replacement Note in favor of the such Lender, in the same principal amount thereof and otherwise of like tenor.

Appears in 1 contract

Samples: Credit Agreement (Wet Seal Inc)

Notes; Repayment of Term Loan. (a) The Term Loan shall be evidenced by this Agreement and the Note and/or one or more Notes duly executed on behalf of the Borrower, dated the Closing Date, in substantially the form attached hereto as Exhibit AH, payable to the order of the a Lender in the aggregate principal amount equal to the principal amount of the portion of the Term Loan advanced by the such Lender plus the amount of interest capitalized thereon in accordance with the terms of this Agreement. The outstanding principal balance of all Obligations shall be payable on the Termination Date (subject to earlier repayment as provided below). The Term Loan (including, without limitation, any interest capitalized thereon and added to the outstanding principal balance of the Term Loan in accordance with the terms hereof) shall bear interest from the date hereof on the outstanding principal balance thereof as set forth in this Article IISection 2. The Each Lender is hereby authorized by the Borrower to endorse on a schedule attached to the each Note delivered to the such Lender (or on a continuation of such schedule attached to such Note and made a part thereof), or otherwise to record in the such Lender’s 's internal records, an appropriate notation evidencing the date and amount of the Term Loan from the such Lender, each payment and prepayment of principal of the such Term Loan, each payment of interest on the Term Loan and the other information provided for on such schedule; provided, however, that the failure of the any Lender to make such a notation or any error therein shall not affect the obligation of the Borrower to repay the Term Loan made by the such Lender in accordance with the terms of this Agreement and the applicable NoteNotes. (b) Upon receipt of and indemnification reasonably satisfactory to the Borrower, and an affidavit of the a Lender as to the loss, theft, destruction or mutilation of the such Lender’s 's Note and upon cancellation of such Note, the Borrower will issue, in lieu thereof, a replacement Note in favor of the such Lender, in the same principal amount thereof and otherwise of like tenor.

Appears in 1 contract

Samples: Bridge Term Loan Credit Agreement (Whitehall Jewellers Inc)

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Notes; Repayment of Term Loan. (a) The Each Term Loan shall be evidenced by this Agreement and the a Note duly executed on behalf of the Borrower, dated the Closing Datedate of such borrowing, in substantially the form attached hereto as Exhibit A, payable to the order of the Lender in the aggregate principal amount equal to the amount of the such Term Loan advanced by the Lender plus the amount of interest capitalized thereon in accordance with the terms of this Agreement. The outstanding principal balance of all Obligations shall be payable on the Termination Date (subject to earlier repayment as provided below). The Each Term Loan (including, without limitation, any interest capitalized thereon and added to the outstanding principal balance of the such Term Loan in accordance with the terms hereof) shall bear interest from the date hereof of such borrowing on the outstanding principal balance thereof as set forth in this Article II. The Lender is hereby authorized by the Borrower to endorse on a schedule attached to the each Note delivered to the Lender (or on a continuation of such schedule attached to such Note and made a part thereof), or otherwise to record in the Lender’s internal records, an appropriate notation evidencing the date and amount of the such Term Loan from the Lender, each payment and prepayment of principal of the such Term Loan, each payment of interest on the such Term Loan and the other information provided for on such schedule; provided, however, that the failure of the Lender to make such a notation or any error therein shall not affect the obligation of the Borrower to repay the Term Loan Loans made by the Lender in accordance with the terms of this Agreement and the applicable Note. (b) Upon receipt of and indemnification reasonably satisfactory to the Borrower, and an affidavit of the Lender as to the loss, theft, destruction or mutilation of the Lender’s Note and upon cancellation of such Note, the Borrower will issue, in lieu thereof, a replacement Note in favor of the Lender, in the same principal amount thereof and otherwise of like tenor.

Appears in 1 contract

Samples: Loan Agreement (Act Teleconferencing Inc)

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