Acquisition Note. From Closing Date and continuing at all ----------------- times through July 15, 2001 ( the "Revolving Credit Period") the Loan evidenced by the Acquisition Note shall be a revolving credit facility which will allow the Borrower to request such amounts as Borrower may elect from time to time (each such amount being herein called an "Advance") so long as the aggregate amount of Advances outstanding at any time under the Acquisition Note does not exceed Eight Million and No/100 Dollars ($8,000,000.00) provided however, the minimum Advance must be at least $500,000.00. Prior to July 15, 2001, the Borrower shall have the right to borrow, repay, and borrow again under the credit facility. The outstanding principal balance of the Acquisition Note n July 15, 2001 shall convert to a term facility (the "Term Period") and shall be payable in 20 equal quarterly installments of principal plus all accrued and unpaid interest, with all unpaid principal plus all accrued and unpaid interest being due and payable on July 15, 2006. Principal and interest of the Acquisition Note shall be due and payable as provided in the Acquisition Note.
Acquisition Note. The Borrowers, the Guarantors and the Bank specifically agree that the aggregate of advances made during the term of Acquisition Note will not exceed the original principal amount thereof. The Acquisition Note is an advancing term note with a commitment term through May 21, 2010 and the Bank will have no obligation to fund any advances under the Acquisition Note after such commitment term, unless renewed and extended in writing and on such terms as may be determined by the Bank. Advances under the Acquisition Note will be separately represented as a Tranche on a schedule to the Acquisition Note specifying the number of the Tranche, amount advanced, the date of advance, applicable WSJ Prime Rate and final maturity of such advance. The portion of the Loan to be made under each Tranche of the Acquisition Note will be payable on the following terms:
Acquisition Note. Each Lender's Acquisition Loans and the joint and several obligation of the Borrowers to repay such Acquisition Loans shall also be evidenced by an Acquisition Note payable to the order of such Lender. Each Acquisition Note shall be dated the Effective Date (or later "effective date" under any Assignment and Acceptance) and be duly and validly executed and delivered by the Borrowers.
Acquisition Note. From Closing Date and continuing at all ---------------- times through September 15, 2002 (the "Revolving Credit Period") the Loan evidenced by the Acquisition Note shall be a revolving credit facility which will allow the Borrower to request such amounts as Borrower may elect from time to time (each such amount being herein called an "Advance") so long as the aggregate amount of Advances outstanding at any time under the Acquisition Note does not exceed Ten Million and NO/100 Dollars ($10,000,000.00) provided however, the minimum Advance must be at least $500,000.00. The Borrower shall have the right to borrow, repay, and borrow again under the credit facility. Interest shall be due and payable quarterly and shall accrue at the election of the Borrower (which election shall be made on the date of the first Advance) at either LIBOR plus 200 basis points or the Prime Rate. The outstanding principal balance of the Acquisition Note on September 15, 2002 shall convert to a term facility (the "Term Period") and shall be payable in accordance with the terms of the Acquisition Note.
Acquisition Note. The term "Acquisition Note" shall mean the Promissory Note from Borrower to Lender evidencing the Acquisition Commitment dated of even date herewith, which is in the original principal amount of Four Million Eight Hundred Sixty Five Thousand Dollars and No/100 ($4,865,000.00).
Acquisition Note. Subject to the terms and conditions of this Agreement, as amended by the Fifth Amendment, the term "Acquisition Note" shall henceforth mean that certain promissory note by the Borrower in the principal amount of $2,948,658.96 (the "Acquisition Note"), dated September 29, 1999, payable to the order of the Bank, with a final maturity of January 20, 2000, and bearing interest at the Base Rate plus 3% (effective September 13, 1999). The parties acknowledge that the Acquisition Note, as described in the indented paragraph above, evidences a renewal and refinancing as a term loan of the "Acquisition Note" dated March 29, 1999 by the Borrower in the principal amount of $7,937,889.00.
Acquisition Note. 1 1.3 Advance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1.4
Acquisition Note. To evidence Borrowers' joint and several repayment obligations under the Acquisition Line of Credit, Borrowers shall execute and deliver an Acquisition Note concurrently with the funding of each Acquisition Loan. The terms of the Acquisition Notes shall reflect the terms of payment determined by the Bank in accordance with Sections 2.6.2 and 2.6.3 hereof.
Acquisition Note. Purchaser shall execute and deliver to InterMune the promissory note in substantially the form of Exhibit A (the “Acquisition Note”) on the Closing Date, as evidence of the obligations of Purchaser to make the Acquisition Installment Payments to InterMune under the Asset Purchase Agreement, such Acquisition Note to be automatically amended to increase or decrease the principal amount outstanding thereunder from time to time to reflect Acquisition Installment Payments under the Asset Purchase Agreement and conversions of principal into New Equity Shares upon the occurrence of the Preferred Equity Financing or thereafter (subject to the Ownership Limitation).
Acquisition Note. The Acquisition Loan shall be evidenced by the Acquisition Note. The Acquisition Note shall be executed and delivered to Lender upon execution and delivery of this Loan Agreement.
