Discretionary Line of Credit Note Sample Contracts

Form Of Discretionary Line of Credit Note
Discretionary Line of Credit Note • May 1st, 2019 • Progressive Corp/Oh/ • Fire, marine & casualty insurance

FOR VALUE RECEIVED, THE PROGRESSIVE CORPORATION (the “Borrower”), with an address at 6300 Wilson Mills Rd., Mayfield Village, OH 44143, United States of America, promises to pay to the order of PNC BANK, NATIONAL ASSOCIATION (the “Bank”), in lawful money of the United States of America in immediately available funds at its offices located at 1900 East Ninth Street, Cleveland, Ohio 44114, or at such other location as the Bank may designate from time to time, the principal sum of ____________DOLLARS ($____________) (the “Facility”) or such lesser amount as may be advanced to or for the benefit of the Borrower hereunder, together with interest accruing on the outstanding principal balance from the date hereof, as provided below.

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Amended and Restated Discretionary Line of Credit Note (Daily SOFR)
Discretionary Line of Credit Note • May 2nd, 2023 • Progressive Corp/Oh/ • Fire, marine & casualty insurance

FOR VALUE RECEIVED, THE PROGRESSIVE CORPORATION (the “Borrower”), with an address at 6300 Wilson Mills Rd., Mayfield Village, OH 44143, United States of America, promises to pay to PNC BANK, NATIONAL ASSOCIATION (the “Bank”) or its registered assigns, in lawful money of the United States of America in immediately available funds at its offices located at 1900 East Ninth Street, Cleveland, Ohio 44114, or at such other location as the Bank may designate from time to time, the principal sum of ______________DOLLARS ($______________) (the “Facility”) or, if less, the outstanding principal amount of advances made hereunder to or for the benefit of the Borrower, together with interest accruing on the outstanding principal balance from the date hereof, as provided below.

Second Amended and Restated Discretionary Line of Credit Note
Discretionary Line of Credit Note • August 7th, 2007 • Cincinnati Financial Corp • Fire, marine & casualty insurance

FOR VALUE RECEIVED, CINCINNATI FINANCIAL CORPORATION and CFC INVESTMENT COMPANY (collectively, the “Borrower”), with an address at P.O. Box 145496, Cincinnati, Ohio 45250, promises to pay to the order of PNC BANK, NATIONAL ASSOCIATION (the “Bank”), in lawful money of the United States of America in immediately available funds at its offices located at 201 East Fifth Street, Cincinnati, Ohio 45202, or at such other location as the Bank may designate from time to time, the principal sum of FIFTY MILLION DOLLARS AND NO/100 ($50,000,000.00) (the “Facility”) or such lesser amount as may be advanced to or for the benefit of the Borrower hereunder, together with interest accruing on the outstanding principal balance from the date hereof, as provided below.

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