Renewal Note definition

Renewal Note means a promissory note in the form attached hereto as Exhibit A.

Renewal Note means any promissory note executed and delivered by the Borrower to the Bank in connection with a renewal, extension, modification, amendment, revision, replacement or substitution of any Note in accordance with the terms of this Agreement.

Renewal Note has the meaning specified in the Background section hereof.

Examples of Renewal Note in a sentence

• Any reference to the Note in any other Loan Document shall be deemed to be a reference to the Renewal Note issued and delivered pursuant to this Amendment.

• The term “Loan” under the Loan Agreement is hereby modified to include the Renewal Loan, and the term “Note” under the Loan Agreement is hereby modified to reference the Renewal Note.

• The Loan Documents, each Note, any Renewal Note and the Loan contemplated thereby, may be placed, participated, assigned and/or serviced by the Bank and/or its successors and assigns, and in connection with any of the foregoing, the Bank may retain a portion of the fees or interest paid on the Notes or may receive servicing, brokerage or other fees from the purchaser or participant.

• Interest on the Renewal Note shall be adjusted on the first day of each month to National Prime Rate as of such date less 1/2%.

• Comments:Areas of Strength Areas of Improvement Subsequent ActionsSummary of Performance Over Contract Term and Prospects for Renewal Note: The school’s annual performance report and prospects for renewal will be communicated to and discussed with the school’s governing authority.

More Definitions of Renewal Note

Renewal Note means a Note accepted by Buyer (i) which is substantially in the form of the annexed Exhibit D (ii) which is executed by all of the Obligors and Loan Guarantors of a note related to a Loan previously sold to Buyer ("Prior Note") which Prior Note was to be paid in full on the date the Renewal Note first becomes effective ("Renewal Date"); (iii) which evidences an obligation to repay a principal amount equal to or less than the principal amount required to be paid by the Obligor under the Prior Note on the Renewal Date; (iv) which provides for monthly principal payments in amounts not less than the monthly principal payments required pursuant to the terms of the Prior Note; (v) which provides that on and after the first Renewal Date after the purchase by the Buyer hereunder, the related Loan will fully amortize over the remaining term to maturity; and (vi) which remains subject to and secured by all of the Related Documents applicable to the Prior Note (as the same may be amended and restated by the terms of the Renewal Note).

Renewal Note means any promissory note executed and delivered by the Borrower to the Bank in connection with a renewal, extension, modification, amendment, revision, replacement or substitution of one or both Notes in accordance with the terms of this Agreement.

Renewal Note shall have the meaning set forth in the Recitals.

Renewal Note means the renewal promissory note of Borrower attached hereto as Exhibit A, expressly renewing and increasing the Original Note.

Renewal Note. This Note is a renewal of an earlier loan or credit extension to Borrower from Lender, or from a JPMorgan Chase & Co. affiliate which transferred the loan to Lender, and is identified in Lender or the affiliate's internal records as account number ACBS80344052. This Note shall not release or affect the liability of any guarantor, surety or endorser of the loan, or release any security interest granted by any owner of any collateral securing the loan. This Note shall be considered a modification only, and not a novation. LOAN TYPE. This Note evidences a Commercial Line of Credit.

Renewal Note means the renewal promissory note of Borrower attached hereto as Exhibit A.

Renewal Note reads in part: