Chase Note definition
Examples of Chase Note in a sentence
Debtor merely obliged himself to pay off the Chase Note without any reference to subsequent loans.
Debtor, however, did not expressly represent to Plaintiff that he would pay the Chase Note over subsequent loans.Representation can also be implied.
The Borrower acknowledges and warrants that the Lender has acted in good faith and has conducted in a commercially reasonable manner its relationships with the Borrower in connection with this Agreement and generally in connection with the Financing Documents and the obligations evidenced by the Chevy Chase Note, the Borrower hereby waiving and releasing any claims to the contrary.
Except as expressly modified herein, the terms, provisions and covenants of the Chevy Chase Note are in all other respects hereby ratified and confirmed and remain in full force and effect.
By entering into the Dissolution and Transfer Agreement, however, Debtor did obligate himself to obtain financing so that the Chase Note and scanner lease would be paid off and that Debtor would assume all the debt.
Borrower hereby issues, ratifies and confirms the representations, warranties and covenants contained in the Chevy Chase Note, as amended hereby.
As stated above, Debtor clarified that the Business Plan was a rough draft and that it was a credit application for the business.Regarding the preference of the Signature Bank loan over the Chase Note, Debtor did not represent to Plaintiff that he would pay off the Chase Note before other loans.
Specifically, on cross-examination, Debtor testified that he chose to pay the Signature Bank loan in its entirety and chose to pay the Chase Note only as long as he could.
Thus, it is clear that Debtor did not make any express representation regarding his personal debts.On cross-examination of Debtor, Plaintiff sought to establish fraud by focusing on Debtor’s preference and continued payment of his fifteen thousand dollar ($15,000) loan from Signature Bank over the Chase Note that Plaintiff and Debtor both personally guaranteed.
Rather, as more fully discussed below, Debtor attempted to refinance the Chase Note twice and had tried his best to apply for other business loans and lines of credit, subsequently receiving a fifteen thousand dollar ($15,000) loan from Signature Bank.