LOC Note definition

LOC Note means the promissory note evidencing the Indebtedness of Borrower under the Line of Credit, in the form of Exhibit "A-2".
Sample 1
LOC Note means that certain Commercial Revolving Line of Credit Promissory Note, dated of even date herewith, evidencing the LOC Loan, as amended, amended and restated, supplemented, or otherwise modified, and also including any note(s) given in exchange, renewal, substitution, replacement, refunding, or refinancing or recasting thereof.
Sample 1
LOC Note as defined in subsection 4.6(e).
Sample 1

Examples of LOC Note in a sentence

  • On October 7, 2021, the Company issued an unrelated third party (the “Note Holder”) a 12% promissory note (the “LOC Note II”), pursuant to which the Note Holder agreed to invest total amount up to $100,000 for the Company’s operating expenses.The LOC Note II bears interest at a rate of 12% per semi-annum and 18% default rate.

  • The LOC Note II is convertible at the Note Holder’s option into the shares of the common stock of the Company at a conversion price equal to 65% of the average of the lowest 3 closing prices for the ten (10) trading days immediately prior to but not including the Conversion Date.

  • On March 23, 2023, a portion of principal and accrued interest in the LOC Note in the amount of $12,020 and $259, respectively, plus $1,500 of conversion fee were converted into 5,990,870 shares of common stock of the Company at the conversion price of $0.0023 per share.

  • In partial consideration for the Navy LOC Note Holders providing the Navy LOC, at the Closing the Company shall issue 500,000 Merger Warrants to the Navy LOC Note Holders on a pro rata basis (in accordance with their respective funding of the Navy LOC).

  • On February 9, 2021, we entered into an addendum (“Addendum 2”) to the LOC Note I and obtained an additional $100,000 in proceeds under to the LOC Note I.

  • The LOC Note II bears interest at a rate of 12% per semi-annum and 18% default rate.

  • On March 2, 2023, a portion of principal and accrued interest in the LOC Note in the amount of $1,500 and $12,928, respectively, plus $1,500 of conversion fee were converted into 5,688,571 shares of common stock of the Company at the conversion price of $0.0028 per share.

  • The date of the review for the LOC Note may be changed at the option of Lender.

  • The Line of Credit will be evidenced by the LOC Note, dated as of the date of Closing, in a form satisfactory to Lender.

  • The LOC Note is convertible at the Note Holder’s option into the shares of the common stock of the Company at a conversion price equal to 50% of the lowest trading prices for the twenty (20) trading days immediately prior to but not including the Conversion Date.


More Definitions of LOC Note

LOC Note means the promissory note of even date herewith executed by the Borrower and consented to by the Guarantor to evidence the obligation of the Borrower to reimburse the Bank for the payment under the Letter of Credit, as amended, supplemented, restated, replaced or modified from time to time.
Sample 1
LOC Note has the meaning set forth in Section 1(a)(iii) of this Agreement.
Sample 1
LOC Note means that certain Line of Credit Note dated July 6, 2001, executed by Borrower and payable to the order of Hibernia in the original face amount of $5,000,000.00, as amended.
Sample 1
LOC Note means the Promissory Note of even date herewith in the principal amount of US$800,000 made by the Borrower to the order of the Lender evidencing the Letter of Credit Facility, as the same may from time to time be extended, amended, restated, supplemented or otherwise modified. "Lot" and "Lots" have the meanings ascribed to such terms in the Recitals to this Agreement.
Sample 1

Related to LOC Note

  • RMB Note means a Note denominated in Renminbi.

  • Revolving Note means a promissory note of the Borrower payable to a Lender in substantially the form of Exhibit 11.1(d) hereto, evidencing Indebtedness of the Borrower under the Revolving Loan Commitment of such Lender.

  • Term Note means a promissory note of the Borrower payable to any Term Lender or its registered assigns, in substantially the form of Exhibit B-1 hereto, evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from the Term Loans made by such Term Lender.

  • Term B Note means a promissory note made by the Borrower in favor of a Term B Lender, or its registered assigns, evidencing Term B Loans made by such Term B Lender, substantially in the form of Exhibit C-1.

  • Tranche B Note means a promissory note of the Borrower payable to any Tranche B Lender and its registered assigns, delivered pursuant to a request made under Section 2.16 in substantially the form of Exhibit A-3 hereto, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from the Tranche B Loans made by such Lender to the Borrower.

  • Swingline Note means a promissory note made by the Borrower in favor of the Swingline Lender evidencing the Swingline Loans made by the Swingline Lender, substantially in the form attached as Exhibit A-2, and any amendments, supplements and modifications thereto, any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Term Loan A Note means a promissory note made by the Borrower in favor of a Term Loan A Lender evidencing the portion of the Term Loan A made by such Term Loan A Lender, substantially in the form of Exhibit C-1.

  • Loan Note means each Loan Note of the Borrower in the form of Exhibit C attached hereto, payable to the order of a Funding Agent for the benefit of the Lenders in such Funding Agent’s Lender Group, in the aggregate face amount of up to such Lender Group’s portion of the Maximum Facility Amount, evidencing the aggregate indebtedness of the Borrower to the Lenders in such Funding Agent’s Lender Group.

  • B Note means, with respect to any A/B Mortgage Loan, the related subordinated Mortgage Note not included in the Trust, which is subordinated in right of payment to the related A Note to the extent set forth in the related Intercreditor Agreement.

  • Revolver Note means any one of such Revolver Notes.

  • Term Loan Note means a promissory note made by the Borrower in favor of a Term Loan Lender evidencing the portion of the Term Loans made by such Term Loan Lender, substantially in the form attached as Exhibit A-3, and any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Bridge Note means a promissory note made by the Borrowers in favor of a Bridge Lender evidencing Bridge Loans made by such Bridge Lender substantially in the form of Exhibit E-2.

  • Swing Note is defined in Section 1.11 hereof.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Credit Note means a document issued by a registered person under sub-section (1) of section 34;

  • New Note shall have the meaning assigned to such term in Section 38.

  • Class B Note means any of the 0.00% Asset Backed Notes, Class B, issued under the Indenture substantially in the form attached thereto as Exhibit A-3.

  • Tranche A Note means a promissory note of the Borrower payable to the order of any Tranche A Bank, in substantially the form of Exhibit A-1 hereto, evidencing the aggregate indebtedness of the Borrower to such Tranche A Bank resulting from Tranche A Advances.

  • Borrower Note means the “Borrower Note” as defined in the Borrower Loan Agreement.

  • Swing Line Note means the promissory note of the Borrowers substantially in the form of Exhibit C-2, payable to the order of the Swing Line Lender, evidencing the Swing Line Loans made by the Swing Line Lender.

  • Subordinated Note means the Subordinated Note (or collectively, the “Subordinated Notes”) in the form attached as Exhibit A hereto, as amended, restated, supplemented or modified from time to time, and each Subordinated Note delivered in substitution or exchange for such Subordinated Note.

  • Class C Note means any one of the Series 2024-1 6.48% Rental Car Asset Backed Notes, Class C, executed by ABRCF and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit C-1, Exhibit C-2 or Exhibit C-3. Definitive Class C Notes shall have such insertions and deletions as are necessary to give effect to the provisions of Section 2.18 of the Base Indenture.

  • Class A-4 Note means any of the 3.11% Asset Backed Notes, Class A‑4, issued under the Indenture substantially in the form attached thereto as Exhibit A-2.

  • Demand Note means the note issued by the rating authority, in relation to the premises for the purpose of levying non-domestic rates prescribed by Scottish Ministers for the financial year, in respect of which a claim is made under this Determination;

  • of a Note means the principal of the Note plus the premium, if any, payable on the Note which is due or overdue or is to become due at the relevant time.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.