Common use of Repayment of Competitive Advance Loans; Evidence of Debt Clause in Contracts

Repayment of Competitive Advance Loans; Evidence of Debt. (a) The Company hereby unconditionally promises to pay to the Lender that made such Competitive Advance Loan on the maturity date, as agreed by the Company and Lender at the time such Competitive Advance Loan is made (or such earlier date on which all the Loans become due and payable pursuant to Section 10), the then unpaid principal amount of such Competitive Advance Loan. The Company hereby further agrees to pay interest on the unpaid principal amount of the Competitive Advance Loans made by any Lender from time to time outstanding from the date thereof until payment in full thereof at the rates, and on the dates, agreed by the Company and Lender at the time such Competitive Advance Loan is made. All payments in respect of Competitive Advance Loans shall be made by the Company to its Competitive Advance Loan Lender at the address separately agreed to between the Company and such Competitive Advance Loan Lender. (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Company to such Lender resulting from each Competitive Advance Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time in respect of Competitive Advance Loans. The entries made in the accounts of each Lender maintained pursuant to this subsection 3.3(b) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Company therein recorded, absent manifest error; provided, however, that the failure of any Lender to maintain any such account, or any error therein, shall not in any manner affect the obligation of the Company to repay (with applicable interest) the Competitive Advance Loans made to the Company by such Lender in accordance with the terms of this Agreement.

Appears in 3 contracts

Samples: Credit Agreement (Harman International Industries Inc /De/), Multi Currency, Multi Option Credit Agreement (Harman International Industries Inc /De/), Credit Agreement (Harman International Industries Inc /De/)

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Repayment of Competitive Advance Loans; Evidence of Debt. (a) The Company Each Specified Borrower that borrows any Competitive Advance Loan hereby unconditionally promises to pay to the Lender Bank that made such Competitive Advance Loan on the maturity date, as agreed by the Company such Specified Borrower and Lender at the time such Competitive Advance Loan is made Bank (or such earlier date on which all the Loans become due and payable pursuant to Section 1013), the then unpaid principal amount of such Competitive Advance Loan. The Company Each Specified Borrower hereby further agrees to pay interest on the unpaid principal amount of the Competitive Advance Loans made by any Lender Bank to such Specified Borrower from time to time outstanding from the date thereof until payment in full thereof at the ratesrate per annum, and on the dates, agreed by the Company such Specified Borrower and Lender Bank at the time such Competitive Advance Loan is made. All payments in respect of Competitive Advance Loans shall be made by such Specified Borrower to the Company to its Competitive Advance Loan Lender at Administrative Agent for the address separately agreed to between account of the Company and Bank that makes such Competitive Advance Loan Lenderto the Payment Office and by the Payment Time for the applicable Currency. (b) Each Lender Bank shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Company each Specified Borrower to such Lender Bank resulting from each Competitive Advance Loan of such Lender Bank from time to time, including the amounts of principal and interest payable and paid to such Lender Bank from time to time in respect of Competitive Advance Loans. The entries made in the accounts of each Lender Bank maintained pursuant to this subsection 3.3(b) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Company each Specified Borrower therein recorded, absent manifest error; provided, however, that the failure of any Lender Bank to maintain any such account, or any error therein, shall not in any manner affect the obligation of the Company each Specified Borrower to repay (with applicable interest) the Competitive Advance Loans made to the Company such Specified Borrower by such Lender Bank in accordance with the terms of this Agreement. In the event of any conflict between the records maintained by any Bank and the records maintained by the Administrative Agent in such matters, the records of the Administrative Agent shall control in the absence of manifest error.

Appears in 2 contracts

Samples: Five Year Credit Agreement (Arrow Electronics Inc), Credit Agreement (Arrow Electronics Inc)

Repayment of Competitive Advance Loans; Evidence of Debt. (a) The Company hereby unconditionally promises to pay to the Lender that made such Competitive Advance Loan on the maturity date, as agreed by the Company and Lender at the time such Competitive Advance Loan is made (or such earlier date on which all the Loans become due and payable pursuant to Section 10), the then unpaid principal amount of such Competitive Advance Loan. The Company hereby further agrees to pay interest on the unpaid principal amount of the Competitive Advance Loans made by any Lender from time to time outstanding from the date thereof until payment in full thereof at the ratesrate per annum, and on the dates, agreed by the Company and Lender at the time such Competitive Advance Loan is made. All payments in respect of Competitive Advance Loans shall be made by the Company to its Competitive Advance Loan Lender at the address separately agreed to between the Company and such Competitive Advance Loan Lender.. 24 (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Company to such Lender resulting from each Competitive Advance Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time in respect of Competitive Advance Loans. The entries made in the accounts of each Lender maintained pursuant to this subsection 3.3(b) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Company therein recorded, absent manifest error; provided, however, that the failure of any Lender to maintain any such account, or any error therein, shall not in any manner affect the obligation of the Company to repay (with applicable interest) the Competitive Advance Loans made to the Company by such Lender in accordance with the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Harman International Industries Inc /De/)

Repayment of Competitive Advance Loans; Evidence of Debt. (a) The Company Each Borrower that borrows any Competitive Advance Loan hereby unconditionally promises to pay to the Lender Bank that made such Competitive Advance Loan on the maturity date, as agreed by the Company such Borrower and Lender at the time such Competitive Advance Loan is made Bank (or such earlier date on which all the Loans become due and payable pursuant to Section 10), the then unpaid principal amount of such Competitive Advance Loan. The Company Each Borrower hereby further agrees to pay interest on the unpaid principal amount of the Competitive Advance Loans made by any Lender Bank to such Borrower from time to time outstanding from the date thereof until payment in full thereof at the ratesrate per annum, and on the dates, agreed by the Company such Borrower and Lender Bank at the time such Competitive Advance Loan is made. All payments in respect of Competitive Advance Loans shall be made by such Borrower to the Company to its Competitive Advance Loan Lender at Administrative Agent for the address separately agreed to between account of the Company and Bank that makes such Competitive Advance Loan Lenderto the Payment Office and by the Payment Time specified for Committed Rate Loans in the applicable Currency. (b) Each Lender Bank shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Company each Borrower to such Lender Bank resulting from each Competitive Advance Loan of such Lender Bank from time to time, including the amounts of principal and interest payable and paid to such Lender Bank from time to time in respect of Competitive Advance Loans. The entries made in the accounts of each Lender Bank maintained pursuant to this subsection 3.3(b) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Company each Borrower therein recorded, absent manifest error; provided, however, that the failure of any Lender Bank to maintain any such account, or any error therein, shall not in any manner affect the obligation of the Company each Borrower to repay (with applicable interest) the Competitive Advance Loans made to the Company such Borrower by such Lender Bank in accordance with the terms of this Agreement.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Arrow Electronics Inc)

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Repayment of Competitive Advance Loans; Evidence of Debt. (a) The Company Each Specified Borrower that borrows any Competitive Advance Loan hereby unconditionally promises to pay to the Lender Bank that made such Competitive Advance Loan on the maturity date, as agreed by the Company such Specified Borrower and Lender at the time such Competitive Advance Loan is made Bank (or such earlier date on which all the Loans become due and payable pursuant to Section 1013), the then unpaid principal amount of such Competitive Advance Loan. The Company Each Specified Borrower hereby further agrees to pay interest on the unpaid principal amount of the Competitive Advance Loans made by any Lender Bank to such Specified Borrower from time to time outstanding from the date thereof until payment in full thereof at the ratesrate per annum, and on the dates, agreed by the Company such Specified Borrower and Lender Bank at the time such Competitive Advance Loan is made. All payments in respect of Competitive Advance Loans shall be made by such Specified Borrower to the Company to its Competitive Advance Loan Lender at Administrative Agent for the address separately agreed to between account of the Company and Bank that makes such Competitive Advance Loan Lenderto the Payment Office and by the Payment Time for the applicable Currency. (b) Each Lender Bank shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Company each Specified Borrower to such Lender Bank resulting from each Competitive Advance Loan of such Lender Bank from time to time, including the amounts of principal and interest payable and paid to such Lender Bank from time to time in respect of Competitive Advance Loans. The entries made in the accounts of each Lender Bank maintained pursuant to this subsection 3.3(b) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Company each Specified Borrower therein recorded, absent manifest error; provided, however, that the failure of any Lender Bank to maintain any such account, or any error therein, shall not in any manner affect the obligation of the Company each Specified Borrower to repay (with applicable interest) the Competitive Advance Loans made to the Company such Specified Borrower by such Lender Bank in accordance with the terms of this Agreement.

Appears in 1 contract

Samples: Five Year Credit Agreement (Arrow Electronics Inc)

Repayment of Competitive Advance Loans; Evidence of Debt. (a) The Company Each Specified Borrower that borrows any Competitive Advance Loan hereby unconditionally promises to pay to the Lender Bank that made such Competitive Advance Loan on the maturity date, as agreed by the Company such Specified Borrower and Lender at the time such Competitive Advance Loan is made Bank (or such earlier date on which all the Loans become due and payable pursuant to Section 1013), the then unpaid principal amount of such Competitive Advance Loan. The Company Each Specified Borrower hereby further agrees to pay interest on the unpaid principal amount of the Competitive Advance Loans made by any Lender Bank to such Specified Borrower from time to time outstanding from the date thereof until payment in full thereof at the ratesrate per annum, and on the dates, agreed by the Company such Specified Borrower and Lender Bank at the time such Competitive Advance Loan is made. All payments in respect of Competitive Advance Loans shall be made by such Specified Borrower to the Company to its Competitive Advance Loan Lender at Applicable Administrative Agent for the address separately agreed to between account of the Company and Bank that makes such Competitive Advance Loan Lenderto the Payment Office and by the Payment Time for the applicable Currency. (b) Each Lender Bank shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Company each Specified Borrower to such Lender Bank resulting from each Competitive Advance Loan of such Lender Bank from time to time, including the amounts of principal and interest payable and paid to such Lender Bank from time to time in respect of Competitive Advance Loans. The entries made in the accounts of each Lender Bank maintained pursuant to this subsection 3.3(b) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Company each Specified Borrower therein recorded, absent manifest error; provided, however, that the failure of any Lender Bank to maintain any such account, or any error therein, shall not in any manner affect the obligation of the Company each Specified Borrower to repay (with applicable interest) the Competitive Advance Loans made to the Company such Specified Borrower by such Lender Bank in accordance with the terms of this Agreement. In the event of any conflict between the records maintained by any Bank and the records maintained by any Applicable Administrative Agent in such matters, the records of such Applicable Administrative Agent shall control in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (Arrow Electronics Inc)

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