Common use of Repayment of Advances; Delivery of Notes Clause in Contracts

Repayment of Advances; Delivery of Notes. (a) Each Borrower shall repay the principal amount of each Advance made to it no later than on the earlier of (i) the last day of the term (if any) specified pursuant to clause (v) of Section 3.01 in the Notice of Borrowing related to such Advance and (ii) the Termination Date. (b) Any Lender may request that the Advances made by it to any Borrower be evidenced by a Note. Promptly upon receipt of such request, the relevant Borrower shall prepare, execute and deliver to such Lender (or, if requested by such Lender, to such Lender and its assignees) a Note. Thereafter, the Advances evidenced by such Note and interest thereon shall at all times (including after assignment pursuant to Section 10.07) be represented by one or more Notes payable to the order of the payee named therein.

Appears in 2 contracts

Samples: Credit Agreement (Western Massachusetts Electric Co), Credit Agreement (Northeast Utilities System)

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Repayment of Advances; Delivery of Notes. (a) Each The Borrower shall repay the principal amount of each Advance made to it hereunder no later than on the earlier of (i) the last day of the term (if any) specified pursuant to clause (viii) of Section 3.01 in the Notice of Borrowing related to such Advance and (ii) the Termination Date. (b) Any Lender may request that the Advances Extensions of Credit to be made by it to any Borrower be evidenced by a Note. Promptly upon receipt of such request, the relevant Borrower shall prepare, execute and deliver to such Lender (or, if requested by such Lender, to such Lender and its assignees) a Note. Thereafter, the Advances Extensions of Credit evidenced by such Note and interest thereon shall at all times (including after assignment pursuant to Section 10.07) be represented by one or more Notes payable to the order of the payee named therein.

Appears in 2 contracts

Samples: Credit Agreement (Western Massachusetts Electric Co), Credit Agreement (Northeast Utilities System)

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Repayment of Advances; Delivery of Notes. (a) Each The Borrower shall repay the principal amount of each Advance made to it hereunder no later than on the earlier of (i) the last day of the term (if any) specified pursuant to clause (viii) of Section 3.01 in the Notice of Borrowing related to such Advance and (ii) the Termination DateDate (including the Stated Termination Date with respect to each Lender). (b) Any Lender may request that the Advances Extensions of Credit to be made by it to any Borrower be evidenced by a Note. Promptly upon receipt of such request, the relevant Borrower shall prepare, execute and deliver to such Lender (or, if requested by such Lender, to such Lender and its assignees) a Note. Thereafter, the Advances Extensions of Credit evidenced by such Note and interest thereon shall at all times (including after assignment pursuant to Section 10.07) be represented by one or more Notes payable to the order of the payee named therein.

Appears in 1 contract

Samples: Credit Agreement (Public Service Co of New Hampshire)

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