Renewal Notes Clause Samples
The 'Renewal Notes' clause outlines the terms and procedures related to the extension or renewal of an agreement. It typically specifies how and when parties can renew the contract, such as requiring written notice within a certain period before the current term expires, and may detail any changes to terms or pricing upon renewal. This clause ensures both parties are aware of the renewal process, reducing the risk of accidental lapses or misunderstandings about the contract's continuation.
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Renewal Notes. All provisions of this Agreement relating to the Note or the indebtedness represented thereby shall apply with equal force and effect to each and all (if any) promissory notes henceforth executed which in whole or in part represent a renewal, extension (for any period), increase, or rearrangement of any part of the indebtedness originally represented by the Note or of any part of such indebtedness, except as otherwise specifically agreed to in writing between Bank and Borrower at that time. Nothing contained herein shall obligate Bank in any way to extend or renew the Note.
Renewal Notes. Borrower shall have executed and delivered to Lender a new Acquisition Note and new Liquidity Note, each payable to the order of Lender as set forth therein, each duly executed on behalf of the Borrower, dated effective September 15, 2002 in the principal amounts of $10,000,000.00 and $1,000,000.00, respectively.
Renewal Notes. In furtherance of the foregoing transactions, the Borrower shall execute and deliver to each of the Lenders its replacement promissory notes dated the Amendment Effective Date in the form of Annexes “A-1” through “A-8” attached hereto (“Renewal Notes”). The principal amount of each Renewal Note delivered to each Lender shall equal such Lender’s Percentage Share of the Maximum Commitment Amount. The Renewal Notes shall, upon acceptance by the Lenders, and as of the Amendment Effective Date constitute replacements and substitutions for the Notes delivered pursuant to the Credit Agreement. All references in the Credit Agreement and the other Loan Documents to the Notes shall, from and after the Amendment Effective Date, be deemed to refer to the Renewal Notes, the same as if such Renewal Notes were the Notes defined, described and referred to in the Credit Agreement. Upon acceptance of the Renewal Notes, each Current Lender agrees to return to Borrower its November 18, 2003 Note marked “Renewed and Extended” or to provide other evidence reasonably satisfactory to the Borrower that the Loans have been renewed (and not repaid) pursuant to this Amendment and that its existing November 18, 2003 Note has been replaced in its entirety by its Renewal Note.
Renewal Notes. In furtherance of the foregoing transactions, the Company shall execute and deliver to each of the Lenders its replacement promissory notes dated the Amendment Effective Date in the form of Annexes "A-1" through "A-8" attached hereto ("Renewal Notes"). The principal amount of each Renewal Note delivered to each Lender shall equal such Lender's Maximum Loan Amount. The Renewal Notes shall, upon acceptance by the Lenders, and as of the Amendment Effective Date constitute replacements and substitutions for the Notes delivered pursuant to the Credit Agreement. All references in the Credit Agreement and the other Loan Documents to the Notes shall, from and after the Amendment Effective Date, be deemed to refer to the Renewal Notes, the same as if such Renewal Notes were the Notes defined, described and referred to in the Credit Agreement.
Renewal Notes. As of the Closing Date, each of the persons (the ------------- "Obligors") that has issued a note (the "Note") to the Company as consideration for their purchase of Company Common Stock that was formerly owned by another shareholder of the Company shall execute a renewal promissory note (in the form attached as Exhibit D hereto, each a "Renewal Note") to the Company in the amount of the outstanding balance under the original Note. Pursuant to a Renewal Note, each Obligor has pledged to Parent as security for the repayment of his obligations thereunder an amount of Parent Common Stock as is equal to the product of (a) 1.25 and (b) the principal amount of the Renewal Note divided by the Determination Price. The Obligors and the principal amount of the Renewal Notes are designated on Schedule 1 hereto.
Renewal Notes. The Borrower agrees to make, execute and deliver to each Lender (i) a renewal Revolving Note (each, a "Renewal Revolving Note"), substantially in the form attached hereto as Exhibit "F-1A," (ii) a renewal Term Note (each, a "Renewal Term Note"), substantially in the form attached hereto as Exhibit "F-2A," and (iii) a renewal R/E Term Note (each, a "Renewal R/E Term Note"), substantially in the form attached hereto as Exhibit "F-3A." The Renewal Revolving Notes, Renewal Term Notes and Renewal R/E Term Notes are hereinafter collectively referred to as the "Renewal Notes." The Renewal Notes shall be in renewal, extension and replacement of, but not in satisfaction or as a novation of, the respective Notes delivered pursuant to the Credit Agreement, and from and after the Amendment Date, unless the context otherwise requires, all references to the "Revolving Notes," the "Term Notes" or the "R/E Term Notes" appearing in the Credit Agreement or any other Loan Documents shall mean and refer to the Renewal Revolving Notes, the Renewal Term Notes or the Renewal R/E Term Notes, as applicable.
Renewal Notes. Each of the Obligors has executed and delivered to ------------- Purchaser a renewal note in the form of Exhibit D and pledged a certain number of shares of Parent Common Stock as set forth therein.
Renewal Notes. Borrower shall have issued and delivered to each Lender that is increasing it Percentage Share of the Maximum Loan Amount a Renewal Promissory Note (or an original Promissory Note in the case of GECC) with appropriate insertions, substantially in the form attached hereto as Exhibit A, payable to the order of each such Lender on or before March 31, 2002 (such Notes herein collectively called the "RENEWAL NOTES"), duly executed on behalf of Borrower, and dated the date hereof.