Working Capital Notes. The Working Capital Loans of each Lender to each Company shall be evidenced by a single Working Capital Note, substantially in the form of Exhibit B (each such note, a "Working Capital Note"), dated the Closing Date or LTC Closing Date, as the case may be, in an aggregate principal amount equal to (a) in the case of any National Cellular Working Capital Note or TWI Working Capital Note, the amount of such Lender's National Cellular's/TWI Working Capital Commitment, and (b) in the case of any LTC Working Capital Note, the amount of such Lender's LTC Working Capital Commitment, in each case duly executed and delivered and payable to such Lender. Each Lender shall record the date and amount of each Working Capital Loan made by it to such Company and the date and amount of each payment of principal made by such Company with respect thereto, and prior to any transfer of its Working Capital Notes shall endorse on Schedule A thereto (or any continuation thereof) forming a part thereof appropriate notations to evidence the foregoing information with respect to each such Working Capital
Working Capital Notes. Each Lender's Working Capital Loans and the --------------------- obligation of the Borrower to repay such Working Capital Loans shall be evidenced by a separate Working Capital Note executed by the Borrower payable to the order of such Lender representing the Borrower's obligation to pay such Lender's Working Capital Commitment or, if less, the aggregate unpaid principal amount of all Working Capital Loans made and to be made by such Lender to the Borrower hereunder, plus interest and all other fees, charges and other amounts due thereon. Each Working Capital Note shall be dated the date hereof and shall bear interest on the unpaid principal amount thereof at the applicable interest rate per annum specified in Section 4.06. ------------
Working Capital Notes. The first sentence of Section 2.01(b) of the Amended and Restated Lessee Working Capital Loan Agreement is hereby amended to read in its entirety as follows: “The Lessee Working Capital Loans made by Lender shall be evidenced by a promissory note of the Lessee in the form of Exhibit A to the First Amendment to Amended and Restated Working Capital Loan Agreement (an “Amended and Restated Lessee Working Capital Note”), dated with the date of execution and delivery thereof, payable to the Lender in an initial principal amount equal to the Lender’s Lessee Working Capital Loan Commitment and otherwise duly completed; provided, however, that all Lessee Working Capital Loans in the form of Lessee Base Rate Loans that are outstanding under the Lessee Working Capital Note immediately prior to the Amendment No. 1 Effective Date (such note, the “Amendment No. 1 Existing Lessee Working Capital Note”) shall be deemed outstanding Lessee Working Capital Loans in the form of Lessee Base Rate Loans under (and all accrued interest thereon, including any interest accrued under the Amendment No. 1 Existing Lessee Working Capital Note shall be payable under) the Amended and Restated Lessee Working Capital Note, subject to the terms and conditions of the Amended and Restated Lessee Working Capital Loan Agreement in effect on and after the Amendment No. 1 Effective Date; and provided further that the Lessee shall have converted all outstanding Lessee Working Capital Loans, if any, that are Lessee Eurodollar Rate Loans to Lessee Base Rate Loans in a timely fashion in accordance with the Amended and Restated Lessee Working Capital Agreement so that on the Amendment No. 1 Effective Date, all outstanding Lessee Working Capital Loans are Lessee Base Rate Loans.”
Working Capital Notes. Upon the commencement of the hotel leases, the Company purchased the working capital of the leased hotels from Host Marriott for $26,832,000 with the purchase price evidenced by notes that bear interest at 5.12%. Interest on each note is due simultaneously with the rent payment of each hotel lease. The principal amount of each note is due upon the termination of each hotel lease. See Note 6 for a discussion of the repayment of all but one of the hotel working notes in 2001. As of December 29, 2000, the outstanding balance of the working capital notes was $26,011,000. Debt maturities at December 29, 2000 are as follows (in thousands): 2001................................................................. $ 1,340 2002................................................................. -- 2003................................................................. 3,005 2004................................................................. -- 2005................................................................. 21,666 ------- $26,011 ======= Cash paid for interest expense in 2000 and 1999 totaled $1,351,000 and $1,463,000, respectively. Note 4. Management Agreements All of the Company's hotels are operated by hotel management companies under long-term hotel management agreements between Host Marriott and hotel management companies. The existing management agreements were assigned to the Tenant Subsidiaries upon the execution of the hotel leases for the term of each corresponding hotel lease. See Note 6 for a discussion of the transfer of all of the management contracts to Host Marriott in 2001. The Tenant Subsidiaries were obligated to perform all of the obligations of Host Marriott under the hotel management agreements including payment of fees due under the management agreements other than certain 100 CCHP I CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued) obligations including payment of property taxes, property casualty insurance and ground rent, maintaining a reserve fund for FF&E replacements and capital expenditures for which Host Marriott retained responsibility. Marriott International manages 30 of the 34 hotels under long-term management agreements. The remaining four hotels are managed by other hotel management companies. The management agreements generally provide for payment of base management fees equal to one to four percent of revenues and incentive management fees generally equal to 20% to 50% of Operating Profit (as d...
Working Capital Notes. The Working Capital Loans made by each Bank pursuant hereto shall be evidenced by an amended and restated promissory note of the Company, substantially in the form of Exhibit "W" with appropriate insertions as to payee, date and principal amount (individually, a "Working Capital Note"; collectively, the "Working Capital Notes"), payable to the order of such Bank and representing the obligation of the Company to pay the lesser of (a) the amount of the initial Working Capital Commitment of such Bank and (b) the aggregate unpaid principal amount of all Working Capital Loans made by such Bank, with interest thereon as prescribed in subsection 4.2. Each Bank is hereby authorized to record the date and amount of each Working Capital Loan made by such Bank, and the date and amount of each payment or prepayment of principal thereof and the date of each interest rate conversion pursuant to subsection 4.4 and the principal amount subject thereto on the schedules annexed to and constituting a part of its Working Capital Note, and any such recordation shall constitute prima facie evidence of the accuracy of the information so recorded. Each Working Capital Note shall (x) be dated as of March 31, 1994, and (y) be stated to mature on the Working Capital Termination Date.
Working Capital Notes. Working Capital Advances made by each Working Capital Lender and, in the case of First Bank, Working Capital Swing Line Advances shall be evidenced by the Borrower's promissory note in the form of Exhibit I (each a "Working Capital Note"), which shall be made payable to the order of such Working Capital Lender and shall mature on the Working Capital Termination Date. The aggregate amount of the Working Capital Advances and, in the case of First Bank, Working Capital Swing Line Advances made by a Working Capital Lender under its Working Capital Note less all repayments of principal thereof shall be the principal amount owing and unpaid on such Working Capital Note. The principal amount of each Working Capital Advance and, in the case of First Bank, Working Capital Swing Line Advance made by a Working Capital Lender and all principal payments and prepayments thereof may be noted by such Working Capital Lender on a schedule attached to its Working Capital Note and shall be entered by such Lender on its ledgers and computer records; provided, that the failure of any Working Capital Lender to make such notations or entries shall not affect the principal amount owing and unpaid on its Working Capital Note. The entries made by a Working Capital Lender on its ledgers and computer records and any notations made by such Working Capital Lender on any such schedule annexed to its Working Capital Note shall be presumed to be accurate until the contrary is established.
Working Capital Notes. Working Capital Loans made by each Lender shall be evidenced by the Working Capital Note payable to the order of such Lender in the respective amount of its Applicable Commitment Percentage of the Total Working Capital Commitment, which Working Capital Note shall be dated as of the date of Amendment No. 3 or a later date pursuant to an Assignment and Acceptance and shall be duly completed, executed and delivered by the Borrower.
Working Capital Notes. Each Lender's Working Capital Loans and the obligation of Borrower to repay such Working Capital Loans shall be evidenced by a Working Capital Note executed by Borrower payable to the order of such Lender representing Borrower's obligation to pay such Lender's Working Capital Loan Commitment or, if less, the aggregate unpaid principal amount of all Working Capital Loans made and to be made by such Lender to Borrower hereunder, plus interest and all other fees, charges and other amounts due thereon. Each Working Capital Note shall be dated the date hereof and shall bear interest on the unpaid principal amount thereof at the applicable interest rate per annum specified in Section 3.2(a).
Working Capital Notes. 29 2.3 Procedure for Working Capital Loan Borrowing...................................................30 2.4 Repayment of Working Capital Loans.............................................................30 2.5 Use of Proceeds of Working Capital Loans.......................................................31 2.6
Working Capital Notes. The Working Capital Loans made by each Bank shall be evidenced by a second amended and restated renewal promissory note of Company, substantially in the form of Exhibit 2.2 with appropriate insertions as to payee, date and principal amount (a "Working Capital Note"), payable to the order of such Bank, in each case in the face amount of the Working Capital Loan Commitment of each Bank. Each Bank is hereby authorized to record the date and amount of each Working Capital Loan made by such Bank and the date and amount of each payment or prepayment of principal thereof or of an advance of a Working Capital Loan on the schedule annexed to and constituting a part of its Working Capital Note, and any such recordation shall constitute prima facie evidence of the accuracy of the information so recorded. Each Working Capital Note shall (a) be dated the Effective Date, (b) be stated to mature as provided in Section 2.4 and (c) provide for the computation and payment of interest in accordance with Sections 2.14 and 2.16.
