Common use of Advance Notes Clause in Contracts

Advance Notes. (a) All Advances made by CRC and each Secondary Lender to the Borrower shall be evidenced by separate Advance Notes, with appropriate insertions, which shall (i) be payable to the order of CRC and each Secondary Lender and provide for the payment of the unpaid principal amount of the Advances evidenced thereby on the Maturity Date for such Advances, and (ii) require that the Borrower pay Yield on the outstanding principal amount as provided in Section 2.06 hereof. The date and principal amount of each Advance and of each repayment of principal thereon shall be recorded by CRC or the Secondary Lenders, as the case may be, or their designee on Schedule I attached to CRC's or such Secondary Lender's Advance Note and the aggregate unpaid principal amount shown on such schedules shall be rebuttable presumptive evidence of the principal amount owing and unpaid on the Advances. The failure to record or any error in recording any such amount on such schedule shall not, however, limit or otherwise affect the obligations of the Borrower hereunder or under any Advance Note to repay the principal amount of the Advances together with all Yield thereon. (b) The Borrower agrees that upon any Eligible Assignee becoming a Secondary Lender hereunder in accordance with Section 9.06, it shall, promptly upon the request of the Agent, execute and deliver an Advance Note payable to the order of such Secondary Lender and otherwise appropriately completed.

Appears in 2 contracts

Sources: Revolving Credit and Security Agreement (Liberty Floating Rate Advantage Fund), Revolving Credit and Security Agreement (Highland Floating Rate Advantage Fund)

Advance Notes. (a) All Advances made by CRC CAFCO and each Secondary Lender to the Borrower shall be evidenced by separate Advance Notes, with appropriate insertions, which shall (i) be payable to the order of CRC CAFCO and each Secondary Lender and provide for the payment of the unpaid principal amount of the Advances evidenced thereby on the Maturity Date for such Advances, and (ii) require that the Borrower pay Yield on the outstanding principal amount as provided in Section 2.06 hereof, and (iii) be entitled to the benefits of this Agreement and the other Program Documents. The date and principal amount of each Advance and of each repayment of principal thereon shall be recorded by CRC CAFCO or the Secondary Lenders, as the case may be, or their designee on Schedule I attached to CRCCAFCO's or such Secondary Lender's Advance Note and the aggregate unpaid principal amount shown on such schedules shall be rebuttable presumptive evidence of the principal amount owing and unpaid on the Advances. The failure to record or any error in recording any such amount on such schedule shall not, however, limit or otherwise affect the obligations of the Borrower hereunder or under any Advance Note to repay the principal amount of the Advances together with all Yield thereon. (b) The Borrower agrees that upon any Eligible Assignee becoming a Secondary Lender hereunder in accordance with Section 9.06, it shall, shall promptly upon the request of the Agent, Agent execute and deliver an Advance Note payable to the order of such Secondary Lender and otherwise appropriately completed.

Appears in 1 contract

Sources: Revolving Credit and Security Agreement (Belport Capital Fund LLC)

Advance Notes. (a) All Advances made by CRC and each Secondary Lender to the Borrower shall be evidenced by separate Advance Notes, with appropriate insertions, which shall (i) be payable to the order of CRC and each Secondary Lender and provide for the payment of the unpaid principal amount of the Advances evidenced thereby on the Maturity Date for such Advances, and (ii) require that the Borrower pay Yield on the outstanding principal amount as provided in Section 2.06 hereof, and (iii) be entitled to the benefits of this Agreement and the other Program Documents. The date and principal amount of each Advance and of each repayment of principal thereon shall be recorded by CRC or the Secondary Lenders, as the case may be, or their designee on Schedule I attached to CRC's or such Secondary Lender's Advance Note and the aggregate unpaid principal amount shown on such schedules shall be rebuttable presumptive evidence of the principal amount owing and unpaid on the Advances. The failure to record or any error in recording any such amount on such schedule shall not, however, limit or otherwise affect the obligations of the Borrower hereunder or under any Advance Note to repay the principal amount of the Advances together with all Yield thereon. (b) The Borrower agrees that upon any Eligible Assignee becoming a Secondary Lender hereunder in accordance with Section 9.06, it shall, shall promptly upon the request of the Agent, Agent execute and deliver an Advance Note payable to the order of such Secondary Lender and otherwise appropriately completed.

Appears in 1 contract

Sources: Revolving Credit and Security Agreement (Managed High Yield Plus Fund Inc)

Advance Notes. (a) All Advances made by CRC and each Secondary Lender to the Borrower shall be evidenced by separate Advance Notes, with appropriate insertions, which shall (i) be payable to the order of CRC and or each Secondary Lender Lender, as the case may be, and provide for the payment of the unpaid principal amount of the Advances evidenced thereby on the Maturity Date for such Advances, and (ii) require that the Borrower pay Yield on the outstanding principal amount as provided in Section 2.06 hereof, and (iii) be entitled to the benefits of this Agreement and the other Facility Documents. The date and principal amount of each Advance and of each repayment of principal thereon shall be recorded by CRC or the Secondary Lenders, as the case may be, or their designee on Schedule I attached to CRC's or such Secondary Lender's Advance Note and the aggregate unpaid principal amount shown on such schedules shall be rebuttable presumptive evidence of the principal amount owing and unpaid on the Advances. The failure to record or any error in recording any such amount on such schedule shall not, however, limit or otherwise affect the obligations of the Borrower hereunder or under any Advance Note to repay the principal amount of the Advances together with all Yield thereon. (b) The Borrower agrees that upon any Eligible Assignee becoming a Secondary Lender hereunder in accordance with Section 9.068.06, it shall, shall promptly upon the request of the Agent, Agent execute and deliver an Advance Note payable to the order of such Secondary Lender and otherwise appropriately completed.

Appears in 1 contract

Sources: Revolving Credit Agreement (Liberty Financial Companies Inc /Ma/)

Advance Notes. (a) All Advances made by CRC and each Secondary Lender to the Borrower shall be evidenced by separate Advance Notes, with appropriate insertions, which shall (i) be payable to the order of CRC and each Secondary Lender and provide for the payment of the unpaid principal amount of the Advances evidenced thereby on the Maturity Date for such Advances, and (ii) require that the Borrower pay Yield on the outstanding principal amount as provided in Section 2.06 hereof, and (iii) be entitled to the benefits of this Agreement and the other Program Documents. The date and principal amount of each Advance and of each repayment of principal thereon shall be recorded by CRC or the Secondary Lenders, as the case may be, or their designee on Schedule I attached to CRC's or such Secondary Lender's Advance Note and the aggregate unpaid principal amount shown on such schedules shall be rebuttable presumptive evidence of the principal amount owing and unpaid on the Advances. The failure to record or any error in recording any such amount on such schedule shall not, however, limit or otherwise affect the obligations of the Borrower hereunder or under any Advance Note to repay the principal amount of the Advances together with all Yield thereon. (b) The Borrower agrees that upon any Eligible Assignee becoming a Secondary Lender hereunder in accordance with Section 9.06, it shall, shall promptly upon the request of the Agent, Agent execute and deliver an Advance Note payable to the order of such Secondary Lender and otherwise appropriately completed.

Appears in 1 contract

Sources: Revolving Credit and Security Agreement (Belmar Capital Fund LLC)