Common use of UK Revolving Credit Note Clause in Contracts

UK Revolving Credit Note. The obligation of the UK Borrowers to pay the UK Revolving Loan, with interest, shall be evidenced by the Amended and Restated UK Revolving Credit Note (as from time to time extended, amended, restated, supplemented or otherwise modified, the “UK Revolving Credit Note”) substantially in the form of Exhibit B-3 attached hereto and made a part hereof, with appropriate insertions. The UK Revolving Credit Note shall be payable to the order of the Lender at the times provided in the UK Revolving Credit Note and shall be in the principal amount of the UK Revolving Credit Committed Amount. The UK Borrowers acknowledge and agree that, if the outstanding principal balance of the UK Revolving Loan outstanding from time to time exceeds the face amount of the UK Revolving Credit Note, the excess shall bear interest at the Post-Default Rate for the UK Revolving Loan and shall be payable, with accrued interest, ON DEMAND. The UK Revolving Credit Note shall not operate as a novation of any of the Obligations or nullify, discharge, or release any such Obligations or the continuing contractual relationship of the parties hereto in accordance with the provisions of this Agreement.

Appears in 1 contract

Samples: Financing and Security Agreement (Gp Strategies Corp)

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UK Revolving Credit Note. The joint and several obligation of the Xxxxx UK Borrowers and NIM Holdings to pay the UK Revolving Loan, with interest, shall be evidenced by the Amended and Restated UK Revolving Credit Note a promissory note (as from time to time extended, amended, restated, supplemented or otherwise modified, the "UK Revolving Credit Note”) substantially in the form of Exhibit B-3 attached hereto and made a part hereof, with appropriate insertions"). The UK Revolving Credit Note shall be dated as of the date of this Agreement, shall be payable to the order of the Lender Bank of America, acting through its Sterling LIBOR Lending Office, at the times provided in the UK Revolving Credit Note Note, and shall be in the principal amount of the UK Revolving Credit Committed Amount. The Xxxxx UK Borrowers and NIM Holdings acknowledge and agree that, if the outstanding principal balance of the UK Revolving Loan outstanding from time to time exceeds the face stated amount of the UK Revolving Credit Note, the excess shall bear interest at the Post-Default Rate rates provided from time to time for advances under the UK Revolving Loan evidenced by the UK Revolving Credit Note and shall be payable, with accrued interest, ON DEMANDDEMAND to Bank of America, acting through its Sterling LIBOR Lending Office. The UK Revolving Credit Note shall not operate as a novation of any of the UK Obligations or nullify, discharge, or release any such UK Obligations or the continuing contractual relationship of the parties hereto in accordance with the provisions of this Agreement.

Appears in 1 contract

Samples: Financing and Security Agreement (BPC Holding Corp)

UK Revolving Credit Note. The obligation of the UK Borrowers to pay the UK Revolving Loan, with interest, shall be evidenced by the Amended and Restated a UK Revolving Credit Note (as from time to time extended, amended, restated, supplemented or otherwise modified, the “UK Revolving Credit Note”) substantially in the form of Exhibit B-3 EXHIBIT A attached hereto to the First Amendment and made a part hereofthereof, with appropriate insertions. The UK Revolving Credit Note shall be payable to the order of the Lender at the times provided in the UK Revolving Credit Note Note, and shall be in the principal amount of the UK Revolving Credit Committed Amount. The UK Borrowers acknowledge and agree that, if the outstanding principal balance of the UK Revolving Loan outstanding from time to time exceeds the face amount of the UK Revolving Credit Note, the excess shall bear interest at the Post-Default Rate for the UK Revolving Loan and shall be payable, with accrued interest, ON DEMAND. The UK Revolving Credit Note shall not operate as a novation of any of the Obligations or nullify, discharge, or release any such Obligations or the continuing contractual relationship of the parties hereto in accordance with the provisions of this Agreement.

Appears in 1 contract

Samples: Financing and Security Agreement (Gp Strategies Corp)

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UK Revolving Credit Note. The joint and several obligation of the Xxxxx UK Borrowers and Norwich to pay the UK Revolving Loan, with interest, shall be evidenced by the Amended and Restated UK Revolving Credit Note a promissory note (as from time to time extended, amended, restated, supplemented or otherwise modified, the "UK Revolving Credit Note”) substantially in the form of Exhibit B-3 attached hereto and made a part hereof, with appropriate insertions"). The UK Revolving Credit Note shall be dated as of the date of this Agreement, shall be payable to the order of the Lender NationsBank at the times provided in the UK Revolving Credit Note Note, and shall be in the principal amount of the UK Revolving Credit Committed Amount. The Xxxxx UK Borrowers and Norwich acknowledge and agree that, if the outstanding principal balance of the UK Revolving Loan outstanding from time to time exceeds the face stated amount of the UK Revolving Credit Note, the excess shall bear interest at the Post-Default Rate rates provided from time to time for advances under the UK Revolving Loan evidenced by the UK Revolving Credit Note and shall be payable, with accrued interest, ON DEMANDDEMAND to NationsBank, acting through its Sterling LIBOR Lending Office. The UK Revolving Credit Note shall not operate as a novation of any of the UK Obligations or nullify, discharge, or release any such UK Obligations or the continuing contractual relationship of the parties hereto in accordance with the provisions of this Agreement.

Appears in 1 contract

Samples: Financing and Security Agreement (Norwich Injection Moulders LTD)

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