Replacement Term Note definition
Examples of Replacement Term Note in a sentence
Exhibit B-2 of the Loan Agreement is replaced by the Replacement Term Note in the form of Exhibit B-2 attached to this Amendment.
This Second Amended Replacement Credit Agreement shall govern the Multi-Disbursement Term Note between Borrower and Bank in the principal amount of $3,600,000.00 being executed simultaneously herewith, the Replacement Term Note between Borrower and Bank in the principal amount of $29,000,000.00 dated November 30, 2018.
If the Term Loan is a Prime Loan, it shall bear interest at the rate per annum computed in accordance with the 1996 (Replacement) Term Note and also as set forth in Section 2.05 hereof.
The Bank has previously made term loans to the Borrower as evidenced by that certain term note from the Borrower to the Bank in the original principal amount of $600,000 dated March 18, 1994 (the "Prior Term Note") and by that certain Replacement Term Note in the original principal amount of $1,500,000 dated as of October 13, 1995 (the "Replacement Term Note") which replaced that certain term note from the Bank to Dunhill Software Services, Inc.
All references in the Loan Documents to the "Equipment Term Note" shall be deemed to refer to the Replacement Term Note.
The proceeds of the Term Loan shall be used in part to refinance the amounts due under the Prior Term Note and the Replacement Term Note, each of which shall be replaced by the term note, substantially in the form of Exhibit A attached to the Second Amendment (the "Term Note").
All references to Term Note B in the Loan Agreement and other Loan Documents shall hereafter mean and refer to Replacement Term Note B, as amended, modified, replaced, restated, extended or renewed from time to time.
A Replacement Term Note A duly executed by Borrower, in the form prepared by and acceptable to the Bank.
The Company shall execute and deliver to the Bank a replacement revolving credit note in the form of Exhibit A annexed to this Amendment (the "Replacement Revolving Credit Note") and a replacement term note in the form of Exhibit B annexed to this Amendment (the "Replacement Term Note") to be exchanged for the existing Revolving Credit Note and Term Note issued by -4- the Company to the Bank under the Letter Agreement (the "Existing Revolving Credit Note" and "Existing Term Note," respectively).
This Replacement Term Note is a replacement of that certain Term Note dated June 26, 2001 in the original prinicipal amount of $50,000,000 and does not constitute payment thereof or a novation therefor.