Revolving Loans Evidenced by Notes Sample Clauses

Revolving Loans Evidenced by Notes. The Revolving Loans shall be evidenced by the Bank Note to be issued on the Effective Date, payable to the Lender in a principal amount up to the Commitment on the Effective Date and otherwise duly completed. All Revolving Loans made by the Lender and all payments and prepayments made on account of principal thereof shall be recorded by the Lender on the schedule (or a continuation thereof) attached to the related Bank Note, it being understood, however, that failure by the Lender to make any such endorsement shall not affect the obligations of the Authority hereunder or under the related Bank Note in respect of unpaid principal and interest on any Revolving Loan. Each entry on a Bank Note with respect to a Revolving Loan schedule shall reflect the applicable principal amount and the applicable interest rate.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Revolving Loans Evidenced by Notes. (a) The Tax-Exempt LIBOR Revolving Loans shall be evidenced by a promissory note of the Authority to the Lender in substantially the form set forth in Exhibit A-1 hereto (as amended or supplemented from time to time, the “Tax-Exempt LIBOR Note”) to be issued on the Effective Date, payable to the Lender in a principal amount up to the Available Commitment on the Effective Date and otherwise duly completed. All Tax-Exempt LIBOR Revolving Loans made by the Lender and all payments and prepayments made on account of principal thereof shall be recorded by the Lender on the schedule (or a continuation thereof) attached to the Tax-Exempt LIBOR Note, it being understood, however, that failure by the Lender to make any such endorsement shall not affect the obligations of the Authority hereunder or under the Tax-Exempt LIBOR Note in respect of unpaid principal and interest on any Tax-Exempt LIBOR Revolving Loan. Each entry on the schedule to the Tax-Exempt LIBOR Note with respect to a Tax-Exempt LIBOR Revolving Loan shall reflect the applicable principal amount and the applicable interest rate.
Sample 1
Revolving Loans Evidenced by Notes. The Revolving Loans will be evidenced by two (2) separate promissory notes: one promissory note will evidence Taxable Revolving Loans and the other will evidence Tax-Exempt Revolving Loans. The Taxable Revolving Loans shall be evidenced by a single promissory note of the Agency to the Bank in substantially the form set forth in Exhibit A-2 hereto (as amended or supplemented from time to time, the “Taxable Note”) to be issued on the Effective Date, payable to the Bank in a principal amount of $15,000,000 (or, if less, the aggregate unpaid principal amount of all Revolving Loans made by the Bank from time to time hereunder) and otherwise duly completed. The Tax-Exempt Revolving Loans shall be evidenced by a single promissory note of the Agency to the Bank in substantially the form set forth in Exhibit A-1 hereto (as amended or supplemented from time to time, the “Tax-Exempt Note”) to be issued on the Effective Date, payable to the Bank in a principal amount of $15,000,000 (or, if less, the aggregate unpaid principal amount of all Revolving Loans made by the Bank from time to time hereunder) and otherwise duly completed. All Revolving Loans made by the Bank and all payments and prepayments made on account of principal thereof shall be recorded by the Bank as set forth in Section 10.1 hereof. The Notes shall not be divisible or transferable except to a bank, financial institution or a qualified investor.
Sample 1

Related to Revolving Loans Evidenced by Notes

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Repayment of Loans; Evidence of Debt (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date.

  • Term Loan On the Closing Date, each Lender that has a Closing Date Term Commitment severally, and not jointly, agrees, on the terms and conditions set forth in this Agreement, to make a Term Loan to the Borrower pursuant to such Lender’s Closing Date Term Commitment, which Term Loans: (i) can only be incurred on the Closing Date in the entire amount of each Lender’s Term Commitment; (ii) once prepaid or repaid, may not be reborrowed; (iii) may, except as set forth herein, at the option of the Borrower, be incurred and maintained as, or Converted into, Closing Date Term Loans that are Base Rate Loans or Eurodollar Loans, in each case denominated in Dollars, provided that all Closing Date Term Loans made as part of the same Term Borrowing shall consist of Term Loans of the same Type; (iv) shall be repaid in accordance with Section 2.12(b); and (v) shall not exceed (A) for any Lender at the time of incurrence thereof the aggregate principal amount of such Lender’s Closing Date Term Commitment, if any, and (B) for all the Lenders at the time of incurrence thereof the Total Closing Date Term Commitment. The Closing Date Term Loans to be made by each Lender will be made by such Lender in the aggregate amount of its Term Commitment in accordance with Section 2.06 hereof. Each Lender having an Incremental Term Loan Commitment hereby severally, and not jointly, agrees on the terms and subject to the conditions set forth herein and in the applicable Incremental Term Loan Assumption Agreement, to make Incremental Term Loans to the Borrower, in an aggregate principal amount not to exceed its Incremental Term Loan Commitment. Amounts paid or prepaid in respect of Incremental Term Loans may not be reborrowed.

  • Commitments of the BUYER 1.1 The BUYER undertakes that no official of the BUYER, connected directly or indirectly with the contract, will demand, take a promise for or accept, directly or through intermediaries, any bribe, consideration, gift, reward, favour or any material or immaterial benefit or any other advantage from the BIDDER, either for themselves or for any person, organisation or third party related to the contract in exchange for an advantage in the bidding process, bid evaluation, contracting or implementation process related to the contract.

  • Letters of Credit (a) The Letter of Credit Commitment.

  • Repayment of Loans (a) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding on such date.

  • Funding of Borrowings (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower maintained with the Administrative Agent in New York City and designated by the Borrower in the applicable Borrowing Request.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!