Restated Note. Concurrently with the execution and delivery of this Amendment, the Borrower shall execute and deliver to the Bank an Amended and Restated Committed Line of Credit Note (the “Restated Note”), evidencing the Line of Credit in the principal amount of $200,000,000.00 in form and substance satisfactory to the Bank. Upon receipt by the Bank of the Restated Note, the Existing Line of Credit Note shall be canceled; the Line of Credit and all accrued and unpaid interest on the existing Line of Credit Note shall thereafter be evidenced by the Restated Note; and all references to the “Note” evidencing the Line of Credit in any documents relating thereto shall thereafter be deemed to refer to the Restated Note. Without duplication, the Restated Note shall not constitute a novation and shall in no way extinguish the Borrower’s unconditional obligation to repay all indebtedness, including accrued and unpaid interest, evidenced by the Existing Line of Credit Note.
Restated Note. Concurrently with the execution and delivery of this ------------- Agreement, Borrower shall execute and deliver to Bank a restated note (the "Restated Note"), evidencing the Loans in the principal amount of $50,000,000 in the form of Exhibit A attached hereto. Upon receipt by Bank of the Restated Note, the original Note shall be canceled and returned to the Borrower; the Loans and all accrued and unpaid interest on the original Note shall thereafter be evidenced by the Restated Note; and all references to the "Note" evidencing the Loans in any documents relating thereto shall thereafter be deemed to refer to the Restated Note. Without duplication, the Restated Note shall in no way extinguish the Borrower's unconditional obligation to repay all indebtedness, including accrued and unpaid interest, evidenced by the original Note.
Restated Note. This Revolving Note amends and restates an existing Revolving Note dated August 18, 2009, in the original principal amount of $4,000,000.00 issued by the Borrowers to the order of Bank (the “Prior Note”). It is expressly intended, understood and agreed that this Revolving Note shall replace the Prior Note as evidence of the indebtedness of Borrowers to Bank under the Revolving Loan, and such indebtedness shall be considered outstanding hereunder from and after the date hereof and shall not be considered paid (nor shall the Borrowers’ obligation to pay the same be considered discharged or satisfied) as a result of the issuance of this Revolving Note. /3 M-tron Industries, Inc., a Delaware corporation, Borrower By: _____________________________________ Name: ___________________________________ Title: ____________________________________ Piezo Technology, Inc., a Florida corporation, Borrower By: _____________________________________ Name: ___________________________________ Title: ____________________________________ STATE OF ) ) ss. COUNTY OF ) On this day of ____________, 2010, before me, the undersigned, a Notary Public, personally appeared ______________________, on behalf of said entity as __________________ of M-tron Industries, Inc., a Delaware corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public STATE OF ) ) ss. COUNTY OF ) On this day of ____________, 2010, before me, the undersigned, a Notary Public, personally appeared ______________________, on behalf of said entity as __________________ of Piezo Technology, Inc., a Florida corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public
Restated Note. Concurrently with the execution and delivery of this Amendment, the Company shall execute and deliver to the Agent a Third Amended and Restated Promissory Note (the “Restated Note”), evidencing the Revolving Commitment in the principal amount of $15,000,000, in form and substance satisfactory to the Agent. Upon receipt by the Agent of the Restated Note, the existing Second Amended and Restated Promissory Note dated as of July 11, 2011, made by the Company to the Agent in the original principal amount of $21,000,000 (the “Existing Note”) shall be canceled and the Revolving Commitment and all accrued and unpaid interest on the Existing Note shall thereafter be evidenced by the Restated Note. Without duplication, the Restated Note shall not constitute a novation and shall in no way extinguish the Company’s unconditional obligation to repay all indebtedness, including accrued and unpaid interest, evidenced by the Existing Note.
Restated Note. The Restated Loan is evidenced by the Restated Note. The aggregate principal balance of the Restated Loan on the Effective Date is the principal amount stated in the Restated Note. Borrower will pay interest on the Restated Loan in accordance with the Restated Note.
Restated Note. EXHIBIT B to the Restated Loan Agreement is being replaced in its entirety with EXHIBIT B attached hereto. The Borrowers shall execute and deliver to the Lender on the date hereof the Restated Note in substitution for and not satisfaction of, the issued and outstanding Line of Credit Replacement Note, and the Restated Note shall be the “Line of Credit Replacement Note” for all purposes of the Loan Documents. The Note being substituted pursuant to this Agreement shall be marked “Replaced” and returned to the Company after the execution and delivery of the Restated Line of Credit Replacement Note to the Lender.
Restated Note. The Note shall be restated in a form entitled "Third Restated Revolving Credit Note" which shall state its original principal amount as being Thirty Million and No/100 Dollars ($30,000,000.00) to conform to the amended definition of "Revolving Credit Commitment" stated in this Agreement, a copy of the form is attached as Exhibit "A". The terms "Note(s)" or "Revolving Credit Note(s)" shall include the Third Restated Revolving Credit Note for all purposes and in all Loan Documents. Bank One shall retain the written instrument evidencing the original Revolving Credit Note dated June 27, 1995 in the original principal amount of $5,000,000, the original Restated Revolving Credit Note dated August 1, 1996 in the original principal amount of $15,000,000, and the original Second Restated Revolving Credit Note dated effective June 14, 1988 in the original principal amount of $15,000,000, all of which shall be deemed to be superseded by the written instrument evidencing the Third Restated Revolving Credit Note dated on even date with this Agreement in the original principal amount of $30,000,000. Each such superseded note shall be maked "SUPERSEDED BY THE WRITTEN INSTRUMENT EVIDENCING THE THIRD RESTATED REVOLVING CREDIT NOTE DATED EFFECTIVE DECEMBER 4, 1998" and copies of such notes will be delivered to Company contemporaneously with the execution of this Agreement.
Restated Note. This Revolving Note is a restated version of the Revolving Note issued pursuant to that certain Loan Agreement dated as of October 14, 2004, as amended by the First Amendment to Loan Agreement dated May 31, 2005, the Second Amendment to Loan Agreement dated June 30, 2006, the Third Amendment to Loan Agreement dated October 3, 2006, the Fourth Amendment to Loan Agreement dated June 30, 2007, the Fifth Amendment to the Loan Agreement dated June 30, 2008, the Change in Terms Agreement dated as of June 30, 2009, and the Change in Terms Agreement dated as of July 31, 2009. [The Remainder of This Page Intentionally Left Blank and Signature Page Follows] 494835.3 M-TRON INDUSTRIES, INC., a Delaware corporation, Borrower By: Xxxx Xxxxxxxx, President PIEZO TECHNOLOGY, INC., a Florida corporation, Borrower By: Xxxx Xxxxxxxx, President STATE OF ) ss. COUNTY OF ) On this day of ____________, 2009, before me, the undersigned, a Notary Public, personally appeared Xxxx Xxxxxxxx, on behalf of said entity as President of M-tron Industries, Inc., a Delaware corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. Notary Public STATE OF ) ss. COUNTY OF ) On this day of ____________, 2009, before me, the undersigned, a Notary Public, personally appeared Xxxx Xxxxxxxx, on behalf of said entity as President of Piezo Technology, Inc., a Florida corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation.
Restated Note. Borrower shall execute and deliver to Lender, in the form required by Lender, an Amended and Restated Promissory Note ("RESTATED NOTE") which will replace and supersede the Note. The Restated Note will include an additional principal advance of $262,000.00 ("ADDITIONAL ADVANCE"). References in the Loan Documents to the Note shall mean the Restated Note. The Restated Note will be secured by the Deed of Trust. Funding of the undisbursed balance of the Restated Note will be subject to the terms and conditions of the Construction Loan Agreement dated December 20, 1995 between Borrower and Lender.
Restated Note. The Company and the Buyer hereby agree to exchange the Prior Note for the Restated Note pursuant to Rule 3(a)(9) under 1933 Act. The Company shall issue the Restated Note to Buyer upon its receipt from Buyer of the original executed copy of the Prior Note. Upon the issuance of the Restated Note, the Prior Note shall be cancelled and deemed to be null and void.
