Common use of Registered Notes Clause in Contracts

Registered Notes. Agent agrees to record each Advance on the Register referenced in Section 14.1(h). Each Advance recorded on the Register (each a "Registered Loan") may not be evidenced by promissory notes other than Registered Notes (as defined below). Upon the registration of any Advance, Borrowers agree at the request of any Lender, to execute and deliver to such Lender a promissory note, in conformity with the terms of this Agreement, in registered form to evidence such Registered Loan, in form and substance reasonably satisfactory to such Lender, and registered as provided in Section 14.1(h) (a "Registered Note"), payable to the order of such Lender and otherwise duly completed, provided that any Registered Note issued to evidence Advances shall be issued in the principal amount of the applicable Lender's Commitment. Once recorded on the Register, each Advance may not be removed from the Register so long as it remains outstanding, and a Registered Note may not be exchanged for a promissory note that it is not a Registered Note.

Appears in 2 contracts

Sources: Loan and Security Agreement (Peninsula Gaming Corp), Loan and Security Agreement (Old Evangeline Downs LLC)

Registered Notes. Agent agrees to record each Advance on Agent, acting for these purposes solely as agent of Borrower, shall maintain the Register referenced referred to in Section 14.1(h)14.1. Each Advance The Borrowings recorded on the Register (each a "Registered Loan") may not be evidenced by promissory notes other than Registered Notes (as defined below). Upon the registration of any Advancethe Borrowings, Borrowers agree Borrower agrees, at the request of any Lender, to execute and deliver to such Lender a promissory note, in conformity with the terms of this Agreement, in registered form to evidence such Registered Loan, in form and substance reasonably satisfactory to such Lender, and registered as provided in Section 14.1(h) 14.1 (a "Registered Note"), payable to the order of such Lender and otherwise duly completed, provided that any Registered Note issued to evidence Advances shall be issued in the principal amount of the applicable Lender's Commitment. Once recorded on the Register, each Advance the Borrowings evidenced by such Registered Note may not be removed from the Register so long as it remains they remain outstanding, and a Registered Note may not be exchanged for a promissory note that it is not a Registered Note.

Appears in 2 contracts

Sources: Loan and Security Agreement (GXS Corp), Loan and Security Agreement (MSC Software Corp)

Registered Notes. Agent Administrative Borrower agrees to record each Advance the Term Loan on the Register referenced referred to in Section 14.1(h)14.1. Each Advance The Term Loan recorded on the Register (each a "Registered Loan") may not be evidenced by promissory notes other than Registered Notes (as defined below). Upon the registration of any Advancethe Term Loan, Borrowers agree Administrative Borrower agrees, at the request of any Lender, to execute and deliver to such Lender a promissory note, in conformity with the terms of this Agreement, in registered form to evidence such Registered Loan, in form and substance reasonably satisfactory to such Lender, and registered as provided in Section 14.1(h) 14.1 (a "Registered Note"), payable to the order of such Lender and otherwise duly completed, provided that any Registered Note issued to evidence Advances shall be issued in the principal amount of the applicable Lender's Commitment. Once recorded on the Register, each Advance the Term Loan evidenced by such Registered Note may not be removed from the Register so long as it remains outstanding, and a Registered Note may not be exchanged for a promissory note that it is not a Registered Note.

Appears in 1 contract

Sources: Loan and Security Agreement (Us Home & Garden Inc)

Registered Notes. Agent Administrative Borrower agrees to record each Advance Term Loan on the Register referenced referred to in Section 14.1(h). Each Advance Term Loan recorded on the Register (each a the "Registered Loan") may not be evidenced by promissory notes other than Registered Notes (as defined below). Upon the registration of any Advanceeach Term Loan, Borrowers agree each Borrower agrees, at the request of any Lender, to execute and deliver to such Lender a promissory note, in conformity with the terms of this Agreement, in registered form to evidence such Registered Loan, in form and substance reasonably satisfactory to such Lender, and registered as provided in Section 14.1(h) (a "Registered Note"), payable to the order of such Lender and otherwise duly completed, provided that any Registered Note issued to evidence Advances shall be issued in the principal amount of the applicable Lender's Commitment. Once recorded on the Register, each Advance Term Loan may not be removed from the Register so long as it remains or they remain outstanding, and a Registered Note may not be exchanged for a promissory note that it is not a Registered Note.

Appears in 1 contract

Sources: Loan and Security Agreement (Outsourcing Services Group Inc)

Registered Notes. Agent Borrower agrees to record each Advance on the Register referenced referred to in Section 14.1(h). Each Advance recorded on the Register (each a "Registered Loan") may not be evidenced by promissory notes other than Registered Notes (as defined below). Upon the registration of any Advance, Borrowers agree Borrower agrees, at the request of any Lender, to execute and deliver to such Lender a promissory note, in conformity with the terms of this Agreement, in registered form to evidence such Registered Loan, in form and substance reasonably satisfactory to Agent and such Lender, and registered as provided in Section 14.1(h) (a "Registered Note"), payable to the order of such Lender and otherwise duly completed, provided that any Registered Note issued to evidence Advances shall be issued in the principal amount of the applicable Lender's Commitment. Once recorded on the Register, each Advance may not be removed from the Register so long as it remains or they remain outstanding, and a Registered Note may not be exchanged for a promissory note that it is not a Registered Note.

Appears in 1 contract

Sources: Loan Agreement (Abraxas Petroleum Corp)

Registered Notes. Agent Administrative Borrower agrees to record each Advance Term Loan C on the Register referenced referred to in Section 14.1(h). Each Advance Term Loan C recorded on the Register (each a the "Registered Loan") may not be evidenced by promissory notes other than Registered Notes (as defined below). Upon the registration of any AdvanceTerm Loan C, Borrowers agree each Borrower agrees, at the request of any LenderLender with a Term Loan C Commitment, to execute and deliver to such Lender a promissory note, in conformity with the terms of this Agreement, in registered form to evidence such Registered Loan, in form and substance reasonably satisfactory to such Lender, and registered as provided in Section 14.1(h) (a "Registered Note"), payable to the order of such Lender and otherwise duly completed, provided that any Registered Note issued to evidence Advances shall be issued in the principal amount of the applicable Lender's Commitment. Once recorded on the Register, each Advance a Registered Loan may not be removed from the Register so long as it remains outstanding, and a Registered Note may not be exchanged for a promissory note that it is not a Registered Note.

Appears in 1 contract

Sources: Loan and Security Agreement (Elgin National Industries Inc)

Registered Notes. Agent Borrower agrees to record each Advance Term Loan on the Register referenced referred to in Section 14.1(h14.1(g). Each B Advance and Term Loan recorded on the Register (each a "the “Registered Loan") may not be evidenced by promissory notes other than Registered Notes (as defined below). Upon the registration of any Advanceeach B Advance and Term Loan, Borrowers agree Borrower agrees, at the request of any Lender, to execute and deliver to such Lender a promissory note, in conformity with the terms of this Agreement, in registered form to evidence such Registered Loan, in form and substance reasonably satisfactory to such Lender, and registered as provided in Section 14.1(h14.1(g) (a "Registered Note"), payable to the order of such Lender and otherwise duly completed, provided that any Registered Note issued to evidence Advances shall be issued in the principal amount of the applicable Lender's Commitment. Once recorded on the Register, each B Advance and Term Loan may not be removed from the Register so long as it remains or they remain outstanding, and a Registered Note may not be exchanged for a promissory note that it is not a Registered Note.

Appears in 1 contract

Sources: Loan and Security Agreement (Northland Cranberries Inc /Wi/)

Registered Notes. Agent Administrative Borrower agrees to record each Advance Term Loan B and Term Loan C on the Register referenced referred to in Section 14.1(h). Each Advance Term Loan B and Term Loan C recorded on the Register (each a the "Registered Loan") may not be evidenced by promissory notes other than Registered Notes (as defined below). Upon the registration of any AdvanceTerm Loan B or Term Loan C, Borrowers agree each U.S. Borrower agrees, at the request of any Lender, to execute and deliver to such Lender a promissory note, in conformity with the terms of this Agreement, in registered form to evidence such Registered Loan, in form and substance reasonably satisfactory to such Lender, and registered as provided in Section 14.1(h) (a "Registered Note"), payable to the order of such Lender and otherwise duly completed, provided that any Registered Note issued to evidence Advances shall be issued in the principal amount of the applicable Lender's Commitment. Once recorded on the Register, each Advance a Registered Loan may not be removed from the Register so long as it remains outstanding, and a Registered Note may not be exchanged for a promissory note that it is not a Registered Note.

Appears in 1 contract

Sources: Loan and Security Agreement (Numatics Inc)