Replacement Promissory Note Sample Clauses
A Replacement Promissory Note clause establishes the process for issuing a new promissory note to substitute an original that has been lost, destroyed, or otherwise rendered unusable. Typically, this clause outlines the conditions under which a replacement note can be requested, such as providing evidence of loss and possibly indemnifying the issuer against future claims on the original note. Its core function is to ensure that the rights and obligations under the original note can continue seamlessly, protecting both parties from complications arising from the loss or damage of the original document.
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Replacement Promissory Note. Upon receipt of an affidavit of an officer of the Bank as to the loss, theft, destruction or mutilation of any Note or any other security document which is not of public record, and, in the case of any such loss, theft, destruction or mutilation, upon surrender and cancellation of such Note or other security document, Borrower will issue, in lieu thereof, a replacement Note or other security document in the same principal amount thereof and otherwise of like tenor.
Replacement Promissory Note. Borrower shall execute and deliver to Lender a Revolving Promissory Note in the form attached as Exhibit A to this Amendment to replace the Note executed by Borrower pursuant to the original Loan Agreement. Such replacement note shall constitute the Note described in the Loan Agreement, as amended hereby.
Replacement Promissory Note. The Revolving Promissory Note issued pursuant to the Loan Agreement in connection with the Committed Revolving Line is being replaced in its entirety with Exhibit E attached hereto. Borrower shall execute and deliver to Bank on the date hereof its Second Amended and Restated Revolving Promissory Note in the form of Exhibit E attached hereto and incorporated herein by reference (the “Replacement Revolving Promissory Note”), in substitution for and not satisfaction of, the issued and outstanding Revolving Promissory Note, and the Replacement Revolving Promissory Note shall be one of the Loan Documents. The promissory note being substituted pursuant to this Agreement shall be marked
Replacement Promissory Note. Borrower shall execute and deliver to Lender the $8,000,000 Cognovit Promissory Note Demand Line of Credit attached to this Amendment as Exhibit A (the “Note”) which shall replace the Existing Note and shall evidence the Line of Credit on and after the date of this Amendment.
Replacement Promissory Note. (a) Borrower shall execute and deliver to Lender on the date hereof the Replacement Promissory Note in substitution for and not satisfaction of, the issued and outstanding Revolving Promissory Note and the Replacement Promissory Note shall be the "Revolving Promissory Note" for all purposes of the Loan Documents. The Replacement Promissory Note shall not operate as a novation of the Obligations of Borrower, or nullify, discharge, or release any such Obligations or the continuing contractual relationship of the Borrower in accordance with the provisions of the Loan Documents. All references in the Loan Documents to the "Revolving Promissory Note" shall be deemed to refer to the Replacement Promissory Note. This Loan Modification Agreement is executed as of the date first written above. BORROWER: ODIMO INCORPORATED By: /s/ ALAN LIPTON --------------- Name: Title: ASHFORD.COM, I▇▇. ▇▇: /s/ ALAN LIPTON ----------------- Na▇▇: ▇▇▇le:
Replacement Promissory Note executed by Borrower under the 98-2 Agreement (in the form attached as Exhibits E to this Omnibus Amendment Agreement).
Replacement Promissory Note. A Replacement Promissory Note dated as of July 15, 2003 in the maximum principal amount of Twenty-One Million Dollars and 00/100 Cents ($21,000,000.00), executed by the Borrower and made payable to the order of each of the Banks, in the form of Exhibit A attached hereto.
Replacement Promissory Note. Upon receipt of evidence reasonably satisfactory to Borrower of the loss, theft, destruction or mutilation of this Promissory Note, and in the case of any such loss, theft or destruction, upon delivery of an indemnity agreement reasonably satisfactory to Borrower or, in the case of any such mutilation, upon surrender and cancellation of this Promissory Note, Borrower will execute and deliver to Lender in lieu thereof, a replacement note dated as of the date of this Promissory Note, identical in form and substance to this Promissory Note and upon such execution and delivery all references in the Loan Documents to this Promissory Note shall be deemed to refer to such replacement note.
Replacement Promissory Note. (a) Borrower shall execute and deliver to Lender on the date hereof the Replacement Promissory Note in substitution for and not satisfaction of, the issued and outstanding Revolving Promissory Note and the Replacement Promissory Note shall be the "Revolving Promissory Note" for all purposes of the Loan Documents. The Replacement Promissory Note shall not operate as a novation of the Obligations of Borrower, or nullify, discharge, or release any such Obligations or the continuing contractual relationship of the Borrower in accordance with the provisions of the Loan Documents. All references in the Loan Documents to the "Revolving Promissory Note" shall be deemed to refer to the Replacement Promissory Note. 2 <PAGE> This Loan Modification Agreement is executed as of the date first written above. BORROWER: ODIMO INCORPORATED By: /s/ ▇▇▇▇ ▇▇▇▇▇▇ -------------------------------------- Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: CEO ▇▇▇▇▇▇▇.▇▇▇, INC. By: /s/ ▇▇▇▇ ▇▇▇▇▇▇ -------------------------------------- Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: President D.I.A. MARKETING, INC. By: /s/ ▇▇▇▇ ▇▇▇▇▇▇ -------------------------------------- Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: President LENDER: SILICON VALLEY BANK By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ --------------------------------------- Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: 3 </TEXT> </DOCUMENT>
Replacement Promissory Note. A replacement promissory note duly executed by the Borrowers and Myrtle in favor of the Lender dated as of the date hereof, substantially in the form of Exhibit A to this Amendment.