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.

Appears in 3 contracts

Samples: Multi Currency, Multi Option 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 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

Appears in 1 contract

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

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