Examples of Revolving Line of Credit Notes in a sentence
The Banks agree to lend to the Borrower, on the Closing Date, and from time to time thereafter on a revolving basis, an amount not to exceed Five Million and No/100 Dollars ($5,000,000.00), pursuant to the terms and conditions set forth in Section 2.04 and the Revolving Line of Credit Notes.
All Revolving Line Commitment Fees shall be payable quarterly in arrears on the first day of each October, January, April and July after the date hereof and on the Revolving Line Termination Date or upon acceleration of the Revolving Line of Credit Notes, if earlier.
The Borrowers shall pay interest on the aggregate unpaid principal amount of all Revolver Advances made by the Administrative Agent in accordance with the terms of this Agreement and the Revolving Line of Credit Notes evidencing the indebtedness resulting from such Revolver Advances.
The Borrowers shall have duly executed and delivered to the Lenders this Agreement and the Revolving Line of Credit Notes to the Lenders in form and substance satisfactory to the Lenders and their counsel.
Whenever any payment to be made hereunder or under the Revolving Line of Credit Notes shall be due on a day which is not a Banking Day (or a London Banking Day in the case of a LIBOR Loan), such payment may be made on the next succeeding Banking Day or London Banking Day, as the case may be, and such extension of time shall be included in computing any interest or fees due.
The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any of the Loan Documents in accordance with a request of the Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon the Lenders and all future holders of the Revolving Line of Credit Notes.
If not sooner paid, the aggregate outstanding principal amount of the Revolving Line of Credit Notes, together with all accrued and unpaid interest thereon and any other fees or charges then due, shall be due and payable on the Termination Date.
The Revolving Line of Credit is to be evidenced by three commercial notes (together, the "Revolving Line of Credit Notes") containing additional terms and conditions, including the repayment schedule.
This Agreement, the borrowings hereunder, and the Revolving Line of Credit Notes, and all transactions contemplated by this Agreement shall have been duly authorized by the Borrowers.
The Borrowers shall use the proceeds of the borrowings under the Revolving Line of Credit Notes for the general corporate purposes of the Borrowers, including, without limitation, providing liquidity for working capital, capital expenditures, stock repurchases and acquisitions to the extent permitted under Section 7.3 below.