Loans and Note Clause Samples

Loans and Note. 4 3.1. Loan Procedure........................4 3.1.1. Loan Requests..................4 3.1.2.

Loans and Note. (a) Subject to the terms and conditions set forth herein, the Lender agrees to make Loans to the Borrower, from time to time during the Availability Period, in an aggregate principal amount outstanding at any time that will not result in the sum of the principal amount of Loans then outstanding plus the outstanding LC Exposure to exceed the Commitment. During the Availability Period, the Borrower shall be entitled to borrow, prepay and reborrow Loans in accordance with the terms and conditions of this Agreement; PROVIDED, that the Borrower may not borrow or reborrow should there exist a Default or Event of Default. (b) The Borrower's obligation to pay the principal of, and interest on, the Loans shall be evidenced by the records of the Bank and by the Note. The entries made in such records and/or on the schedule annexed to the Note shall be PRIMA FACIE evidence of the existence and amounts of the obligations of the Borrower therein recorded; PROVIDED, that the failure or delay of the Lender in maintaining or making entries into any such record or on such schedule or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans (both principal and unpaid accrued interest) in accordance with the terms of this Agreement.

Loans and Note. 2 1.1. Revolving Credit Facility ..................................... 2 1.2. Use of Proceeds................................................ 4 1.3. Commitment Fee................................................. 4 1.4. Facility Fee................................................... 4 1.5. Termination or Reduction of the Commitment..................... 4 1.6. Prepayment .................................................... 5 1.7. Rate of Interest............................................... 6 (a) Prime Rate Loans........................................... 6 (b) Eurodollar Loans........................................... 6

Loans and Note. 13 Section 2.2

Loans and Note. (a) Upon receipt of a written request for a Loan hereunder in accordance with Section 2.02, the Lender may in its sole discretion make such Loan to the Borrower; provided that the Lender shall have no obligation or commitment to make any Loan or to renew any Loan at the end of an applicable Interest Period, notwithstanding that the Lender may have previously renewed such Loan or any other Loan. If the Lender agrees to make the requested Loan, the Borrower may then elect either a Eurodollar Loan or a Base Rate Loan. (b) The Borrower’s obligation to pay the principal of, and interest on, the Loans shall be evidenced by the records of the Lender and by the Note. The entries made in such records and/or on the schedule annexed to the Note shall be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided, that the failure or delay of the Lender in maintaining or making entries into any such record or on such schedule or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans (both principal and unpaid accrued interest) in accordance with the terms of this Agreement.

Loans and Note