Revolving Credit. (a) Subject to and upon the terms and conditions set forth in this Agreement, each Lending Company agrees to advance to the Borrowing Company, from time to time prior to the Termination Date, Loans advanced under the Revolving Loan Commitment shall be repaid in accordance with Section 2.4 and may be reborrowed from time to time on a revolving basis. (b) Each Borrowing Company's obligation to pay to the Lending Company the principal of and interest on the Loans shall be evidenced by the records of the RTO in lieu of a promissory note or notes.
Appears in 18 contracts
Samples: Reciprocal Loan Agreement (Golden American Life Insurance Co /Ny/), Reciprocal Loan Agreement (Separate Account B of Golden American Life Insurance Co), Reciprocal Loan Agreement (Golden American Life Insurance Co /Ny/)
Revolving Credit. (a) Subject to and upon the terms and conditions set forth in this Agreement, each Lending Company agrees to advance Loans to the Borrowing Company, from time to time prior to the Termination Date, . Loans advanced under the Revolving Loan Commitment shall be repaid in accordance with Section 2.4 and may be reborrowed from time to time on a revolving basis.
(b) Each Borrowing Company's obligation to pay to the Lending Company the principal of and interest on the Loans shall be evidenced by the records of the RTO CTO in lieu of a promissory note or notes.
Appears in 2 contracts
Samples: Reciprocal Loan Agreement (VOYA RETIREMENT INSURANCE & ANNUITY Co), Reciprocal Loan Agreement (VOYA RETIREMENT INSURANCE & ANNUITY Co)
Revolving Credit. (a) Subject to and upon the terms and conditions set forth in this Agreement, each Lending Company agrees to advance Loans to the Borrowing Company, from time to time prior to the Termination Date, . Loans advanced under the Revolving Loan Commitment shall be repaid in accordance with Section 2.4 and may be reborrowed from time to time on a revolving basis.
(b) Each Borrowing Company's ’s obligation to pay to the Lending Company the principal of and interest on the Loans shall be evidenced by the records of the RTO in lieu of a promissory note or notes.
Appears in 1 contract
Samples: Reciprocal Loan Agreement (Ing Life Insurance & Annuity Co)
Revolving Credit. (a) Subject to and upon the terms and conditions set forth in this Agreement, each Lending Company agrees to advance to the Borrowing Company, from time to time prior to the Termination Date, Date Loans. Loans advanced under the Revolving Loan Commitment shall be repaid in accordance with Section 2.4 and may be reborrowed from time to time on a revolving basis.
(b) Each Borrowing Company's obligation to pay to the Lending Company the principal of and interest on the Loans shall be evidenced by the records of the RTO in lieu of a promissory note or notes.
Appears in 1 contract
Samples: Reciprocal Loan Agreement (Ing Life Insurance & Annuity Co)
