Loan Notes Clause Samples
The 'Loan Notes' clause defines the terms and conditions under which a borrower issues promissory notes to a lender as evidence of a loan. Typically, this clause outlines the principal amount, interest rate, maturity date, and repayment schedule associated with each note, and may specify procedures for issuing, transferring, or redeeming the notes. Its core practical function is to formalize the borrower's debt obligations, providing clear documentation and enforceable terms for both parties, thereby reducing ambiguity and potential disputes regarding the loan.
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Loan Notes. If so requested by any Lender by written notice to Company (with a copy to Administrative Agent) at any time after the Closing Date, Company shall execute and deliver to such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender pursuant to Section 9.6), promptly after Company’s receipt of such notice) a Loan Note, as applicable, to evidence such Lender’s Loans.
Loan Notes. The Loans made by each Lender shall be evidenced by a single promissory note of Borrower substantially in the form of Exhibit C, payable to such Lender in a principal amount equal to the amount of its Commitment as originally in effect and otherwise duly completed.
Loan Notes. (a) The Loans made by any Lender shall be evidenced, upon request by such Lender, by a promissory note of the Borrower payable to such Lender in substantially the form of Exhibit 2.6
(a) hereto (a “Loan Note”) and in a principal amount equal to the amount of such Lender’s Commitment Percentage of the Loan Commitment as in effect as of the date such Lender becomes a party to this Credit Agreement.
(b) The date, amount, type, interest rate and duration of Interest Period (if applicable) of each Loan made by each Lender to the Borrower, and each payment made on account of the principal thereof, shall be recorded by such Lender on its books; provided that the failure of such Lender to make any such recordation or endorsement shall not affect the obligations of the Borrower to make a payment when due of any amount owing hereunder or under any Loan Note, and each such recordation or endorsement shall be conclusive and binding absent manifest error.
Loan Notes. If so requested by any Lender by written notice to the Borrower (with a copy to the Administrative Agent) at least two Business Days prior to the Closing Date, or at any time thereafter, the Borrower shall execute and deliver to such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an Assignee of such Lender pursuant to Section 9.6) on the Closing Date (or, if such notice is delivered after the Closing Date, promptly after the Borrower’s receipt of such notice) a Loan Note to evidence such ▇▇▇▇▇▇’s Loans provided that the delivery of such Loan Notes shall not be a condition to closing on the Closing Date.
Loan Notes. The Loans made by any Lender shall be evidenced, upon request by such Lender, by a promissory note of the Borrower payable to such Lender in substantially the form of Exhibit 2.6
(a) hereto (a "Loan Note") and in a principal amount equal to the amount of such Lender's Commitment Percentage of the Loan Commitment as originally in effect. The date, amount, type, interest rate and duration of Interest Period (if applicable) of each Loan made by each Lender to the Borrower, and each payment made on account of the principal thereof, shall be recorded by such Lender on its books; provided that the failure of such Lender to make any such recordation or endorsement shall not affect the obligations of the Borrower to make a payment when due of any amount owing hereunder or under any Loan Note, and each such recordation or endorsement shall be conclusive and binding absent manifest error.
Loan Notes. The original Hungarian Loan Notes delivered to the U.S. Security Agent and duly endorsed in favor of the U.S. Security Agent.
Loan Notes. Subject to the terms and conditions of this Agreement, as subsequently modified, the Bank agrees to loan to Borrower the maximum sum of Fifteen Million ($15,000,000.00) Dollars, as an unsecured, revolving credit line under the following terms:
Loan Notes. 2.1 The aggregate principal amount of the Loan Notes shall total USD $3,000,000.
2.2 Subject to this Instrument, the Loan Notes shall rank pari passu equally and rateably without discrimination or preference between them and as unsecured obligations of the Company under this Instrument.
2.3 Interest shall be payable on the Loan Notes in accordance with Clause 6.
2.4 This Instrument may be one of a series which have the exact same financial terms except as to the date of issuance and tenor.
Loan Notes. If and to the extent that any Series A Loan Notes are to be issued to ▇▇ ▇▇▇▇▇▇ and/or ▇▇ ▇▇▇▇▇▇ pursuant to the terms of this Agreement, the Purchaser shall at the time such notes are required to be issued, deliver to the Management Sellers Representative, duly executed Series A Loan Note Instruments and duly executed certificates for such Series A Loan Notes, in favor of each of ▇▇. ▇▇▇▇▇▇ and ▇▇. ▇▇▇▇▇▇, in the appropriate amounts. ▇▇. ▇▇▇▇▇▇ hereby authorizes the Management Sellers Representative to accept delivery of the Series A Loan Note Instruments and the Series A Loan Notes on and for his behalf, without any liability on the part of Purchaser.
Loan Notes. The Administrative Agent and each Lender Group that has requested a Loan Note shall have received such Loan Note, duly executed by the Borrower, in form and substance satisfactory to the Administrative Agent and the Lenders in each Lender Group that has requested the same.