Common Contracts
2 similar Commercial Note contracts by Procaccianti Hotel Reit, Inc.
AMENDED AND RESTATED COMMERCIAL NOTECommercial Note • May 1st, 2024 • Procaccianti Hotel Reit, Inc. • Real estate investment trusts
This Amended and Restated Commercial Note is made as of the 26th day of April, 2024 by PHR STPFL, LLC, a Delaware limited liability company with an address in c/o The Procaccianti Group, LLC 1140 Reservoir Avenue, Cranston, Rhode Island 02920 (hereinafter referred to as the “Borrower”), in favor of LIBERTY BANK, a mutual bank organized and existing under the laws of the State of Connecticut, having its principal place of business at 245 Long Hill Road, Middletown, Connecticut 06457 (hereinafter referred to as the "Bank").
COMMERCIAL NOTECommercial Note • May 1st, 2024 • Procaccianti Hotel Reit, Inc. • Real estate investment trusts
FOR VALUE RECEIVED, PHR WNC, LLC, a Delaware limited liability company with an address in c/o The Procaccianti Group, LLC 1140 Reservoir Avenue, Cranston, Rhode Island 02920 (hereinafter referred to as the “Borrower”), promises to pay to LIBERTY BANK, a mutual bank organized and existing under the laws of the State of Connecticut, having its principal place of business at 245 Long Hill Road, Middletown, Connecticut 06457 (hereinafter referred to as the “Bank”), or its order, at the banking house of said Bank, the principal sum of TEN MILLION EIGHT HUNDRED FIFTY THOUSAND and 00/100 ($10,850,000.00) DOLLARS in lawful money of the United States, together with interest thereon or on so much as is advanced and outstanding pursuant to the terms of that certain Loan Agreement by and between the Borrower and the Bank of even date herewith (the “Loan Agreement”) and payable at a variable rate for each Term SOFR Interest Period (as defined herein) equal to the sum of the one-month Term SOFR (as
