Common use of Revolving Loans Evidenced by Notes Clause in Contracts

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.

Revolving Loans Evidenced by Notes. The Revolving Loans shall be evidenced by the Bank Note Notes to be issued on the Effective Date, payable to the respective Lender in a principal amount up to the such Bank’s Commitment on the Effective Date and otherwise duly completed. All Revolving Loans made by the a Lender and all payments and prepayments made on account of principal thereof shall be recorded by the such Lender on the schedule (or a continuation thereof) attached to the related Bank Note, it being understood, however, that failure by the such 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.Revolving