LOC Note definition

LOC Note means the promissory note evidencing the Indebtedness of Borrower under the Line of Credit, in the form and upon the terms of EXHIBIT "A".
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.

  • At Closing, the outstanding balance of the principal of and accrued interest on the LOC Note will become part of the equity capitalization of GTI PA, as reflected in the GTI Operating Agreement attached to this Agreement.

  • At that time, GTI PA and Company will no longer obligated under the LOC Note as it will be extinguished by GTI Core.

  • 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.

  • For clarity, any draws advanced to the Company under the LOC Note shall not be deemed income for purposes of determining the net cash flow.

  • On July 30, 2021, the Company issued 500,000 common shares to Escorfin, a related party, in part for its efforts in amending the terms of the LOC (Note 11(a)).

  • J., at 13.) In particular, the Plaintiff identifies three events of default: the failure to make any payment on the Note and the LOC Note, as well as the failure to deliver quarterly financial reporting documents.

  • The Agencies emphasize that you must ensure that both the initial and annual notices are clear and conspicuous, as defined in § l.3(b).

  • The Debtors and the Non-Debtors are signatories to those certain Commercial Guaranties (the “Revolving LOC Guaranties” together with the LOC Guaranties, and the $1M Guaranties, the “Guaranties”) dated December 30, 2021 purporting to guaranty the Revolving LOC Note.

  • Each Advance made under the LOC Note shall be repaid in thirty six (36) equal and consecutive monthly installments of principal, plus interest thereon.


More Definitions of LOC Note

LOC Note has the meaning set forth in Section 1(a)(iii) of this Agreement.
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
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 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

Related to LOC Note

  • 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 C-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 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 a promissory note of the Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such Lender resulting from a B Advance made by such Lender.

  • 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 of the Borrower in the form attached as Exhibit B hereto evidencing the Bridge Loan of any Lender.

  • 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 evidencing Tranche A Loans, substantially in the form of Exhibit B hereto.

  • 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 2020-1 3.02% 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 ___% Asset Backed Notes, Class A-4, issued under the Indenture.

  • 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.