Common use of LIBOR Loan Clause in Contracts

LIBOR Loan. The following LIBOR Loan: (there must not, after giving effect to the requested Loan, be more than five (5) different LIBOR Loans in effect) Amount: $ Requested Borrowing Date: (must be a Business Day at least three (3) Business Days after date of notice) Interest Period: (1,2,3, or 6 months) EXHIBIT B TO ACQUISITION SUB CREDIT AGREEMENT FORM OF PROMISSORY NOTE May ___, 1997 $[3] [2] FOR VALUE RECEIVED, AIMCO/NHP Holdings, Inc., a Delaware corporation (the "Company"), promises to pay to the order of [4] ("Lender") the principal amount of [5] ($ [3] ) or, if less, the aggregate amount of Loans (as such term and all other capitalized terms used but not defined herein are defined in the Credit Agreement referred to below) made by the Lender to the Company pursuant to the Credit Agreement referred to below, outstanding on the Maturity Date. The Company also promises to make principal payments and interest on the unpaid principal amount hereof from the date hereof until paid at the rates and at the times which shall be determined in accordance with the provisions of the Credit Agreement. All payments of principal and interest in respect of this Note shall be made in lawful money of the United States of America in same day funds at the Payment Office. Until notified of the transfer of this Note, the Company shall be entitled to deem the Lender or such person who has been so identified by the transferor in writing to the Company as the holder of this Note, as the owner and holder of this Note. The Lender and any subsequent holder of this Note agrees that before disposing of this Note, or any part hereof, it will make a notation hereon of all principal payments previously made hereunder of the date to which interest hereon has been paid on the schedule attached hereto, if any; PROVIDED, HOWEVER, that the failure to make notation of any payment made on this Note shall not limit or otherwise affect the obligation of the Company hereunder with respect to payments of principal or interest on this Note. This Note is referred to in, and is entitled to the benefits of, the Credit Agreement dated as of May 5, 1997 (the "CREDIT AGREEMENT") among the Company, the lenders from time to time party thereto, and Bank of America National Trust and Savings Association, as Agent (the "Agent"). The Credit Agreement, among other things, (i) provides for the making of loans (the "LOANS") by the Lender to the Company from time to time in an aggregate amount first above mentioned, the indebtedness of the Company resulting from each such Loan being evidenced by this Note, and (ii) contains provisions for acceleration of the maturity hereof upon the happening of certain stated events and also for mandatory and optional prepayments on account of principal hereof and certain principal payments prior to the maturity hereof upon the terms and conditions therein specified. The terms of this Note are subject to amendment only in the manner provided in the Credit Agreement. No reference herein to the Credit Agreement and no provision of this Note or the Credit Agreement shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the place, at the respective times, and in the currency herein prescribed. The Company promises to pay all costs and expenses, including reasonable attorneys' fees, incurred in the collection and enforcement of this Note. The Company hereby waives diligence, presentment, and protest, and except as provided in the Credit Agreement, demand and notice of every kind and, to the full extent permitted by law, the right to plead any statute of limitations as a defense to any demand hereunder. This Note shall be governed by, and construed in accordance with, the laws of the state of New York without giving effect to its choice of law doctrine.

LIBOR Loan. The following Borrower may prepay principal (which shall include all accrued interest thereon) on any LIBOR Loan: (there must not, after giving effect Loan upon three Business Day’s prior notice to Bank and in the requested Loan, be more than five (5) different LIBOR Loans in effect) Amount: $ Requested Borrowing Date: (must be a Business Day at least three (3) Business Days after date minimum amount of notice) Interest Period: (1,2,3$1,000,000.00, or 6 months) EXHIBIT B TO ACQUISITION SUB CREDIT AGREEMENT FORM OF PROMISSORY NOTE May ___a whole multiple of $500,000 in excess thereof; provided however, 1997 $[3] [2] FOR VALUE RECEIVED, AIMCO/NHP Holdings, Inc., a Delaware corporation (that if the "Company"), promises to pay to the order outstanding principal balance of [4] ("Lender") the principal amount such portion of [5] ($ [3] ) or, if lessthis Note is less than said amount, the aggregate minimum prepayment amount of Loans (as such term and all other capitalized terms used but not defined herein are defined in the Credit Agreement referred to below) made by the Lender to the Company pursuant to the Credit Agreement referred to below, outstanding on the Maturity Date. The Company also promises to make principal payments and interest on the unpaid principal amount hereof from the date hereof until paid at the rates and at the times which shall be determined in accordance with the provisions entire outstanding principal balance thereof. In consideration of the Credit Agreement. All payments of principal and interest in respect Bank providing this prepayment option to Borrower, or if any such portion of this Note shall be made in lawful money of the United States of America in same day funds become due and payable at the Payment Office. Until notified of the transfer of this Note, the Company shall be entitled to deem the Lender or such person who has been so identified by the transferor in writing to the Company as the holder of this Note, as the owner and holder of this Note. The Lender and any subsequent holder of this Note agrees that before disposing of this Note, or any part hereof, it will make a notation hereon of all principal payments previously made hereunder of the date to which interest hereon has been paid on the schedule attached hereto, if any; PROVIDED, HOWEVER, that the failure to make notation of any payment made on this Note shall not limit or otherwise affect the obligation of the Company hereunder with respect to payments of principal or interest on this Note. This Note is referred to in, and is entitled to the benefits of, the Credit Agreement dated as of May 5, 1997 (the "CREDIT AGREEMENT") among the Company, the lenders from time to time party thereto, and Bank of America National Trust and Savings Association, as Agent (the "Agent"). The Credit Agreement, among other things, (i) provides for the making of loans (the "LOANS") by the Lender to the Company from time to time in an aggregate amount first above mentioned, the indebtedness of the Company resulting from each such Loan being evidenced by this Note, and (ii) contains provisions for acceleration of the maturity hereof upon the happening of certain stated events and also for mandatory and optional prepayments on account of principal hereof and certain principal payments prior to the maturity hereof last day of the Fixed Rate Term applicable thereto, Borrower shall pay to Bank immediately upon demand a fee which is the terms sum of the discounted monthly differences for each month from the month of prepayment through the month in which such Fixed Rate Term matures, calculated as follows for each such month: Determine the amount of interest which would have accrued each month on the amount prepaid at the interest rate applicable to such amount had it remained outstanding until the last day of the Fixed Rate Term applicable thereto. Subtract from the amount determined in (a) above the amount of interest which would have accrued for the same month on the amount prepaid for the remaining term of such Fixed Rate Term at LIBOR in effect on the date of prepayment for new loans made for such term and conditions therein specified. The terms of this Note are subject to amendment only in the manner provided in the Credit Agreement. No reference herein a principal amount equal to the Credit Agreement amount prepaid. If the result obtained in (b) for any month is greater than zero, discount that difference by LIBOR used in (b) above. Borrower acknowledges that prepayment of such amount may result in Bank incurring additional costs, expenses and/or liabilities, and no provision that it is difficult to ascertain the full extent of this Note or the Credit Agreement shall alter or impair the obligation of the Companysuch costs, which is absolute and unconditionalexpenses and/or liabilities. Borrower, therefore, agrees to pay the principal of above-described prepayment fee and interest on this Note at the place, at the respective times, and in the currency herein prescribed. The Company promises to pay all costs and expenses, including agrees that said amount represents a reasonable attorneys' fees, incurred in the collection and enforcement of this Note. The Company hereby waives diligence, presentment, and protest, and except as provided in the Credit Agreement, demand and notice of every kind and, to the full extent permitted by law, the right to plead any statute of limitations as a defense to any demand hereunder. This Note shall be governed by, and construed in accordance with, the laws estimate of the state prepayment costs, expenses and/or liabilities of New York without giving effect to its choice of law doctrineBank.