Promissory Notes and Supplements Sample Clauses
The 'Promissory Notes and Supplements' clause establishes the terms under which promissory notes may be issued, amended, or supplemented within the context of an agreement. It typically outlines the procedures for creating new notes, modifying existing ones, or attaching supplemental documents that may alter payment terms or other obligations. This clause ensures that all parties have a clear and consistent process for documenting and updating debt obligations, thereby reducing the risk of disputes and maintaining accurate records of financial commitments.
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Promissory Notes and Supplements. In the event the Company desires to borrow from CoBank and CoBank is willing to lend to the Company, the parties will enter into a promissory note and supplement hereto (each a “Promissory Note and Supplement”). Each Promissory Note and Supplement will set forth CoBank’s commitment to make a loan or loans to the Company, the amount of the loan(s), the purpose of the loan(s), the interest rate or interest rate options applicable to the loan(s), the Company’s promise to repay the loans, and any other terms and conditions applicable to the particular loan(s). Each loan will be governed by the terms and conditions set forth in this Agreement and in the Promissory Note and Supplement relating to that loan. In the absence of a Promissory Note and Supplement hereto duly executed by CoBank, CoBank shall have no obligation to make a loan to the Company under this Agreement.
Promissory Notes and Supplements. In the event the Company desires to borrow from CoBank and CoBank is willing to lend to the Company, the parties will enter into a promissory note and supplement hereto (each a “Promissory Note and Supplement”). Each Promissory Note and Supplement will set forth CoBank’s commitment to make a Loan or Loans to the Company, the amount of the Loan(s), the purpose of the Loan(s), the interest rate or interest rate options applicable to the Loan(s), the Company’s promise to repay the Loans, and any other terms and conditions applicable to the particular Loan(s). Each Loan will be governed by the terms and conditions set forth in this Agreement and in the Promissory Note and Supplement relating to that Loan. In the absence of a Promissory Note and Supplement hereto duly executed by CoBank, CoBank shall have no obligation to make a Loan to the Company under this Agreement. As of the date of this Agreement, the following Promissory Notes and Supplements are outstanding hereunder and shall be governed by the terms hereof: (1) Promissory Note and Supplement dated as of May 1, 2002, and numbered ML0936T1; and (2) Promissory Note and Supplement dated as of May 1, 2002, and numbered ML0936T2 (the “Existing Promissory Notes and Supplements”).
Promissory Notes and Supplements