Notes Evidencing Term Loans Clause Samples
The "Notes Evidencing Term Loans" clause establishes that the borrower's obligation to repay term loans will be documented through promissory notes issued to the lender. In practice, this means that for each term loan advanced, the borrower may be required to execute a note specifying the principal amount, interest rate, and repayment terms. This clause ensures that there is a clear, legally binding record of the debt, which facilitates enforcement and provides both parties with a concrete reference for the loan's terms.
Notes Evidencing Term Loans. The Term Loans made by each Lender shall be evidenced by a duly executed Note in the form of Exhibit A or, in the case of the Tranche D Term Loans, Exhibit A(amd) (each, as amended, modified, restated, supplemented, extended, renewed or replaced from time to time, a "Tranche D Note") of the Company to such Lender in an original principal amount that includes the aggregate unpaid principal amount of all Term Loans made by such Lender to the Borrower.
Notes Evidencing Term Loans. In addition to this Agreement, the Borrower's obligations to repay the Term Loans shall be evidenced by (i) a single promissory note of the Borrower payable to the order of the Term Loan A Lenders and held by the Agent on behalf of each Term Loan A Lender in the form attached as Exhibit E-1 and (ii) a single promissory note of the Borrower payable to the order of the Term Loan B Lenders and held by the Agent on behalf of each Term Loan B Lender in the form attached as Exhibit E-2, each as amended, modified, replaced or reissued from time to time (collectively, the "Term Loan Notes"). In the event that a Lender shall request a Term Loan Note payable to its order or shall assign all or a part of its rights and obligations under, and in accordance with the terms of this Agreement and the new Lender shall request a Term Loan Note payable to its order, the Borrower shall execute and deliver one or more Term Loan Notes or replacement Term Loan Notes, as the case may be, to carry out any such request.
Notes Evidencing Term Loans. The Term Loans made by each Bank shall be evidenced by the Term Notes, payable to the order of that Bank in an amount equal to its Pro Rata Share of the Term Commitment and shall mature on June 30, 1999 (the 'Term Loan Maturity Date')."
2. Amendment of Exhibit B (Term Note). Exhibit B to the Credit Agreement is hereby amended by deleting such Exhibit in its entirety and substituting therefor a new Exhibit B in the form of Schedule I attached hereto.
Notes Evidencing Term Loans. Each Bank's Term Loan shall be evidenced by a separate Term Note, which shall be made payable to the order of such Bank, dated the Conversion Date, and shall be payable in eight (8) consecutive, equal quarterly installments payable on the last day of each March, June, September and December, commencing with the first of such dates to occur after the date of such Bank's Term Loan.
Notes Evidencing Term Loans. The Term Loans shall be evidenced by the Term Notes, each of which shall be dated the Conversion Date, made payable to the order of the Bank making the Term Loan and shall be payable in consecutive quarterly installments of principal each equal to five percent (5%) of the original principal amount of such Term Loan on the last day of September, December, March and June, commencing September 30, 2000, and a final payment on the unpaid principal amount of such Term Loan payable on June 30, 2003".
2. This Amendment shall become effective as of July 15,
Notes Evidencing Term Loans. Section 2.6 of the Credit Agreement is hereby amended by deleting such Section in its entirety and substituting therefor the following:
Notes Evidencing Term Loans. In addition to this Agreement, Penn Traffic's obligations to repay the Term Loans shall be evidenced by Penn Traffic's promissory notes payable to the order of the Term Loan A Lenders and the Term Loan B Lenders, respectively, in the forms attached as Exhibit D-2 and D-3 hereto as amended, modified, replaced or reissued from time to time (collectively, the "Term Loan Notes"). In the event that a Term Loan Lender shall assign all or a part of its rights and obligations under, and in accordance with the terms of this Agreement, Penn Traffic shall execute and deliver one or more replacement Term Loan Notes to carry out such assignment.
Notes Evidencing Term Loans. The Term Loans made by each Lender shall be evidenced by a duly executed Regular Note of the Company to such Lender in an original principal amount that includes the aggregate unpaid principal amount of all Term Loans made by such Lender to the Borrower.