{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "advances-outstanding", "type": "definition", "offset": [0, 20]}, {"key": "loan-shall", "type": "definition", "offset": [41, 51]}, {"key": "the-master-note", "type": "clause", "offset": [68, 83]}, {"key": "form-of", "type": "definition", "offset": [105, 112]}, {"key": "exhibit-a", "type": "clause", "offset": [113, 122]}, {"key": "balance-due", "type": "definition", "offset": [146, 157]}, {"key": "from-time-to-time", "type": "clause", "offset": [158, 175]}, {"key": "by-the-bank", "type": "clause", "offset": [227, 238]}, {"key": "records-of-disbursements", "type": "clause", "offset": [241, 265]}, {"key": "subject-to", "type": "definition", "offset": [282, 292]}], "size": 3, "snippet": "Advances outstanding under the Revolving Loan shall be evidenced by the Master Note substantially in the form of Exhibit A annexed hereto and the balance due from time to time on the Master Note shall be conclusively evidenced by the Bank's records of disbursements and repayments, subject to Subsection 2.1(f).", "samples": [{"hash": "3ipfAyPuDKk", "uri": "/contracts/3ipfAyPuDKk#master-note", "label": "Loan and Security Agreement (Forward Industries Inc)", "score": 18.0, "published": true}], "hash": "ea12d338214c9a0d8d196672acb8b1ba", "id": 2}, {"snippet_links": [{"key": "prior-to-the-effective-date", "type": "clause", "offset": [20, 47]}, {"key": "note-certificate", "type": "clause", "offset": [71, 87]}, {"key": "cede-co", "type": "definition", "offset": [114, 124]}, {"key": "a-nominee", "type": "definition", "offset": [126, 135]}, {"key": "the-obligations", "type": "clause", "offset": [155, 170]}, {"key": "the-note", "type": "clause", "offset": [172, 180]}, {"key": "the-manual", "type": "clause", "offset": [204, 214]}, {"key": "facsimile-signatures", "type": "clause", "offset": [218, 238]}, {"key": "date-of-issuance", "type": "definition", "offset": [289, 305]}, {"key": "issue-date", "type": "clause", "offset": [312, 322]}, {"key": "full-legal-name", "type": "clause", "offset": [330, 345]}, {"key": "paying-agent", "type": "definition", "offset": [396, 408]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [556, 579]}, {"key": "on-behalf-of", "type": "clause", "offset": [580, 592]}, {"key": "providing-the", "type": "clause", "offset": [681, 694]}, {"key": "issuance-of-the", "type": "clause", "offset": [712, 727]}, {"key": "by-the-bank", "type": "clause", "offset": [810, 821]}, {"key": "the-issuer-agrees", "type": "clause", "offset": [836, 853]}, {"key": "the-bank-shall", "type": "clause", "offset": [859, 873]}, {"key": "no-duty", "type": "clause", "offset": [879, 886]}, {"key": "determine-the", "type": "clause", "offset": [908, 921]}, {"key": "manual-signatures", "type": "clause", "offset": [958, 975]}, {"key": "not-limited", "type": "clause", "offset": [1017, 1028]}, {"key": "signature-of", "type": "definition", "offset": [1160, 1172]}, {"key": "most-recent", "type": "definition", "offset": [1208, 1219]}, {"key": "certificate-of-authorized-persons", "type": "definition", "offset": [1220, 1253]}, {"key": "by-the-issuer", "type": "clause", "offset": [1263, 1276]}], "size": 4, "snippet": "a. The Issuer will, prior to the Effective Date, deliver to the Bank a Note Certificate registered in the name of Cede & Co., a nominee of DTC, evidencing the Obligations. The Note Certificate shall bear the manual or facsimile signatures of one or more Authorized Persons and specify the date of issuance (the \u201cIssue Date\u201d), the full legal name of the Issuer, and the name of the bank acting as paying agent for the Issuer.\nb. Any Obligation (as evidenced by the Note Certificate) shall, upon the Bank\u2019s issuance of such Obligation in compliance with the terms of this Agreement on behalf of the Issuer, bind the Issuer notwithstanding that one or both of such Authorized Persons providing the Instructions for issuance of the Obligation are no longer Authorized Persons on the date such Obligation is issued by the Bank. Furthermore, the Issuer agrees that the Bank shall have no duty or responsibility to determine the genuineness of the facsimile and/or manual signatures appearing on any document, including but not limited to any Instructions or the Note Certificate, if such facsimile or manual signature reasonably resembles the corresponding specimen signature of an Authorized Person listed on the most recent Certificate of Authorized Persons provided by the Issuer to the Bank.", "samples": [{"hash": "6gaWgYfqNuy", "uri": "/contracts/6gaWgYfqNuy#master-note", "label": "Issuing and Paying Agent Agreement (Waste Management Inc)", "score": 26.1266255989, "published": true}, {"hash": "4Zi7HItTceP", "uri": "/contracts/4Zi7HItTceP#master-note", "label": "Issuing and Paying Agent Agreement (Avangrid, Inc.)", "score": 25.5900068446, "published": true}, {"hash": "7rgpVLPFLZR", "uri": "/contracts/7rgpVLPFLZR#master-note", "label": "Issuing and Paying Agent Agreement (Potomac Electric Power Co)", "score": 24.1553730322, "published": true}], "hash": "3baac663f8447118bcee3b399a7c79b1", "id": 1}, {"snippet_links": [{"key": "the-master-note", "type": "clause", "offset": [0, 15]}, {"key": "properly-executed", "type": "definition", "offset": [17, 34]}], "size": 2, "snippet": "The Master Note, properly executed.", "samples": [{"hash": "4E29vxXFeP", "uri": "/contracts/4E29vxXFeP#master-note", "label": "Loan and Security Agreement (Teamstaff Inc)", "score": 18.0, "published": true}], "hash": "d5aa1fce8635b81fcb1c43c51fa5e4d0", "id": 3}, {"snippet_links": [{"key": "this-note", "type": "clause", "offset": [3, 12]}, {"key": "line-of-credit", "type": "definition", "offset": [128, 142]}, {"key": "borrower-shall", "type": "clause", "offset": [147, 161]}, {"key": "the-principal-amount", "type": "definition", "offset": [192, 212]}, {"key": "equal-to", "type": "definition", "offset": [225, 233]}, {"key": "the-total", "type": "clause", "offset": [234, 243]}, {"key": "by-bank", "type": "clause", "offset": [287, 294]}, {"key": "from-time-to-time", "type": "clause", "offset": [295, 312]}, {"key": "payments-made-by", "type": "clause", "offset": [323, 339]}, {"key": "interest-on-each", "type": "clause", "offset": [398, 414]}, {"key": "expenses-incurred", "type": "clause", "offset": [467, 484]}, {"key": "as-shown", "type": "definition", "offset": [507, 515]}, {"key": "books-and-records", "type": "definition", "offset": [526, 543]}, {"key": "evidence-of", "type": "definition", "offset": [570, 581]}, {"key": "amount-owed", "type": "clause", "offset": [586, 597]}, {"key": "by-borrower", "type": "clause", "offset": [598, 609]}, {"key": "clear-and-convincing", "type": "definition", "offset": [636, 656]}, {"key": "bad-faith", "type": "definition", "offset": [668, 677]}, {"key": "manifest-error", "type": "definition", "offset": [681, 695]}, {"key": "upon-the-occurrence-of-an-event-of-default", "type": "clause", "offset": [723, 765]}, {"key": "giving-of-notice", "type": "clause", "offset": [812, 828]}, {"key": "lapse-of-time", "type": "clause", "offset": [834, 847]}, {"key": "event-of-default-under", "type": "definition", "offset": [874, 896]}, {"key": "in-addition-to", "type": "clause", "offset": [908, 922]}, {"key": "other-rights-and-remedies", "type": "clause", "offset": [927, 952]}, {"key": "right-to-receive", "type": "clause", "offset": [995, 1011]}, {"key": "additional-advances", "type": "clause", "offset": [1026, 1045]}, {"key": "other-loan-documents", "type": "definition", "offset": [1070, 1090]}], "size": 2, "snippet": "If this Note is designated herein as a MASTER NOTE or is denoted on Bank\u2019s records as a MASTER NOTE, then this Note evidences a line of credit and Borrower shall be liable for only so much of the principal amount as shall be equal to the total of the amounts advanced to or for Borrower by Bank from time to time, less all payments made by or for Borrower and applied by Bank to principal, and for interest on each such advance, fees, premiums, charges and costs and expenses incurred or due hereunder, all as shown on Bank\u2019s books and records which shall be conclusive evidence of the amount owed by Borrower under this Note, absent a clear and convincing showing of bad faith or manifest error. If this is a MASTER NOTE, upon the occurrence of an Event of Default or the occurrence of an event which, with the giving of notice or a lapse of time, or both, would become an Event of Default under this Note, in addition to its other rights and remedies, Bank may terminate or suspend Borrower\u2019s right to receive any future or additional advances under this Note and the other loan documents.", "samples": [{"hash": "i2Q38Hs8QLQ", "uri": "/contracts/i2Q38Hs8QLQ#master-note", "label": "Loan and Security Agreement (Video Display Corp)", "score": 19.0, "published": true}], "hash": "80d8528c8f41c989b78e2f6fbc080318", "id": 4}, {"snippet_links": [{"key": "this-note", "type": "clause", "offset": [3, 12]}, {"key": "line-of-credit", "type": "definition", "offset": [130, 144]}, {"key": "borrower-shall", "type": "clause", "offset": [149, 163]}, {"key": "the-principal-amount", "type": "definition", "offset": [194, 214]}, {"key": "equal-to", "type": "definition", "offset": [227, 235]}, {"key": "the-total", "type": "clause", "offset": [236, 245]}, {"key": "by-lender", "type": "clause", "offset": [289, 298]}, {"key": "from-time-to-time", "type": "clause", "offset": [299, 316]}, {"key": "payments-made-by", "type": "clause", "offset": [327, 343]}, {"key": "interest-on-each", "type": "clause", "offset": [404, 420]}, {"key": "expenses-incurred", "type": "clause", "offset": [473, 490]}, {"key": "as-shown", "type": "definition", "offset": [512, 520]}, {"key": "books-and-records", "type": "definition", "offset": [533, 550]}, {"key": "evidence-of", "type": "definition", "offset": [577, 588]}, {"key": "amount-owed", "type": "clause", "offset": [593, 604]}, {"key": "clear-and-convincing", "type": "definition", "offset": [614, 634]}, {"key": "gross-negligence", "type": "definition", "offset": [646, 662]}, {"key": "gross-misconduct", "type": "definition", "offset": [666, 682]}], "size": 2, "snippet": "If this Note is designated herein as a MASTER NOTE or is denoted on Lender\u2019s records as a MASTER NOTE, then this Note evidences a line of credit and Borrower shall be liable for only so much of the principal amount as shall be equal to the total of the amounts advanced to or for Borrower by Lender from time to time, less all payments made by or for Borrower and applied by Lender to principal, and for interest on each such advance, fees, premiums, charges and costs and expenses incurred or due hereunder all as shown on \u2587\u2587\u2587\u2587\u2587\u2587\u2019s books and records which shall be conclusive evidence of the amount owed absent a clear and convincing showing of gross negligence or gross misconduct. (Signatures Contained On Next Page)", "samples": [{"hash": "hhjEnL96d4I", "uri": "/contracts/hhjEnL96d4I#master-note", "label": "Commercial Promissory Note", "score": 29.340862423, "published": true}], "hash": "8655c2b1d4e726032e2065effe923a07", "id": 5}, {"snippet_links": [{"key": "maximum-amount", "type": "definition", "offset": [4, 18]}, {"key": "loan-shall", "type": "definition", "offset": [36, 46]}, {"key": "the-master-note", "type": "clause", "offset": [63, 78]}, {"key": "balance-due", "type": "definition", "offset": [88, 99]}, {"key": "from-time-to-time", "type": "clause", "offset": [100, 117]}, {"key": "by-the-lender", "type": "clause", "offset": [169, 182]}, {"key": "records-of-disbursements", "type": "clause", "offset": [185, 209]}, {"key": "subject-to", "type": "definition", "offset": [226, 236]}], "size": 1, "snippet": "The maximum amount of the Revolving Loan shall be evidenced by the Master Note, and the balance due from time to time on the Master Note shall be conclusively evidenced by the Lender's records of disbursements and repayments, subject to Subsection 2.1(e).", "samples": [{"hash": "kMtEemqC3xI", "uri": "/contracts/kMtEemqC3xI#master-note", "label": "Loan and Security Agreement (Ronson Corp)", "score": 18.0, "published": true}], "hash": "ee881ef68c0768c65a052b02f4751add", "id": 6}, {"snippet_links": [{"key": "the-promissory-note", "type": "clause", "offset": [0, 19]}, {"key": "the-principal", "type": "definition", "offset": [73, 86]}, {"key": "the-credit-line", "type": "clause", "offset": [95, 110]}, {"key": "payable-to", "type": "definition", "offset": [112, 122]}, {"key": "order-of", "type": "clause", "offset": [127, 135]}, {"key": "obligation-to-pay", "type": "clause", "offset": [168, 185]}, {"key": "with-interest", "type": "definition", "offset": [258, 271]}], "size": 1, "snippet": "The promissory note (the \"Master Note\"), dated of even date herewith, in the principal face of the Credit Line, payable to the order of \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587, evidencing Borrower's obligation to pay the amounts advanced or re-advanced by \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 against the Credit Line with interest and agreed charges and all renewals, modifications, amendments and substitutions, if any, thereof.", "samples": [{"hash": "l2QKRPtyfCd", "uri": "/contracts/l2QKRPtyfCd#master-note", "label": "Commercial Credit Agreement (Vinings Investment Properties Trust/Ga)", "score": 18.0, "published": true}], "hash": "7beacfb896a3032fe40011500e1e1df4", "id": 7}, {"snippet_links": [{"key": "borrower-shall", "type": "clause", "offset": [0, 14]}, {"key": "the-master-note", "type": "clause", "offset": [29, 44]}, {"key": "to-lender", "type": "definition", "offset": [68, 77]}], "size": 1, "snippet": "Borrower shall have executed the Master Note and delivered the same to Lender.", "samples": [{"hash": "5DIBhXWDDF", "uri": "/contracts/5DIBhXWDDF#master-note", "label": "Revolving Credit Agreement (Integrated Information Systems Inc)", "score": 16.0, "published": true}], "hash": "058d2f31c5d626eb5634106cc72304bd", "id": 8}, {"snippet_links": [{"key": "the-promissory-note", "type": "clause", "offset": [0, 19]}, {"key": "issued-by", "type": "definition", "offset": [20, 29]}, {"key": "guaranteed-fund", "type": "definition", "offset": [35, 50]}, {"key": "voluntary-loans", "type": "definition", "offset": [91, 106]}, {"key": "the-guaranteed", "type": "clause", "offset": [172, 186]}, {"key": "prior-to-the", "type": "clause", "offset": [192, 204]}, {"key": "assignment-and-assumption-agreement", "type": "definition", "offset": [232, 267]}], "size": 1, "snippet": "The promissory note issued by each Guaranteed Fund to Guaranteed Holdings to evidence Fund Voluntary Loans, including Voluntary Loans advanced by the Centerline Parties to the Guaranteed Fund prior to the deliver of the Receivables Assignment and Assumption Agreement.", "samples": [{"hash": "kvNw9HH0xzw", "uri": "/contracts/kvNw9HH0xzw#master-note", "label": "Master Assignment, Stabilization, Assignment Allocation, Servicing and Asset Management Agreement (Centerline Holding Co)", "score": 21.1889117043, "published": true}], "hash": "9cee73e1c1c593fb5c0e28744a3695d6", "id": 9}, {"snippet_links": [{"key": "the-term", "type": "clause", "offset": [0, 8]}, {"key": "revolving-line-of-credit-promissory-note", "type": "definition", "offset": [38, 78]}, {"key": "by-borrower", "type": "clause", "offset": [92, 103]}, {"key": "of-lender", "type": "clause", "offset": [143, 152]}, {"key": "purchase-of", "type": "clause", "offset": [161, 172]}, {"key": "construction-of", "type": "clause", "offset": [186, 201]}], "size": 1, "snippet": "The term \"Master Note\" shall mean the Revolving Line of Credit Promissory Note made payable by Borrower on the same date herewith to the order of Lender for the purchase of Late and the construction of Houses.", "samples": [{"hash": "gn1Fq3aKCFp", "uri": "/contracts/gn1Fq3aKCFp#master-note", "label": "Revolving Line of Credit Loan Agreement (Newmark Homes Corp)", "score": 18.0, "published": true}], "hash": "41cdede18aaf3052d45dbd95741a913f", "id": 10}], "next_curs": "ClQSTmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjALEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhRtYXN0ZXItbm90ZSMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"size": 30, "parents": [["miscellaneous", "Miscellaneous"], ["definitions", "Definitions"], ["financing-documents", "Financing   Documents"], ["loans", "LOANS"], ["conditions-precedent", "CONDITIONS PRECEDENT"]], "children": [], "title": "Master Note", "id": "master-note", "related": [["note-purchase-agreement", "Note Purchase Agreement", "Note Purchase Agreement"], ["receivables-not-to-be-evidenced-by-promissory-notes", "Receivables Not To Be Evidenced by Promissory Notes", "Receivables Not To Be Evidenced by Promissory Notes"], ["the-purchase-agreement", "The Purchase Agreement", "The Purchase Agreement"], ["promissory-note", "Promissory Note", "Promissory Note"], ["supplier-note", "Supplier \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Note", "Supplier \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Note"]], "related_snippets": [], "updated": "2025-07-07T12:37:53+00:00", "also_ask": ["What are the essential elements that must be included in a Master Note to ensure enforceability?", "How can parties strategically negotiate the terms of a Master Note to manage credit and default risks?", "What are the most common legal pitfalls or fatal flaws in Master Note drafting?", "How do Master Notes compare to other debt instruments in terms of legal protections and flexibility?", "What are the key factors courts consider when determining the enforceability of a Master Note?"], "drafting_tip": "Specify the purpose and applicability of the Master Note to clarify its role; define key terms to avoid ambiguity; reference related agreements to ensure consistency.", "explanation": "A Master Note clause serves as a central document that outlines the key terms and conditions governing a series of related financial transactions, such as loans or promissory notes, between the same parties. Instead of drafting separate agreements for each transaction, the Master Note consolidates the terms\u2014such as interest rates, repayment schedules, and default provisions\u2014into a single, overarching agreement. This approach streamlines documentation, reduces administrative burden, and ensures consistency across multiple transactions, ultimately minimizing the risk of conflicting terms and simplifying ongoing management."}, "json": true, "cursor": ""}}