Restated Note. Concurrently with the execution and delivery of this Amendment, the Borrower shall execute and deliver to the Bank an Amended and Restated Committed Line of Credit Note (the “Restated Note”) evidencing the Line of Credit in the principal amount of $30,000,000.00, in form and substance satisfactory to the Bank. Upon receipt by the Bank of the Restated Note, the Existing Note shall be canceled; all accrued and unpaid interest on the Existing Note shall thereafter be evidenced by the Restated Note; and all references to the “Note” evidencing the Line of Credit in any documents relating Form 17A – Multistate Rev. 05/19 thereto shall thereafter be deemed to refer to the Restated Note. Without duplication, the Restated Note shall not constitute a novation and shall in no way extinguish the Borrower’s unconditional obligation to repay all indebtedness, including accrued and unpaid interest, evidenced by the Existing Note.
Restated Note. Concurrently with the execution and delivery of this Amendment, the Borrower shall execute and deliver to the Bank an amended and restated note (the "Restated Note") evidencing the line of credit in the original principal amount of $68,000,000.00, in form and substance satisfactory to the Bank. Upon receipt by the Bank of the Restated Note, the Existing Note shall be canceled; the loan evidenced by the Existing Note (the "Existing Loan") and all accrued and unpaid interest on the Existing Loan shall thereafter be evidenced by the Restated Note; and all references to the promissory note evidencing the Existing Loan in any documents relating thereto, howsoever named, shall thereafter be deemed to refer to the Restated Note. Without duplication, the Restated Note shall not constitute a novation and shall in no way extinguish the Borrower's unconditional obligation to repay all indebtedness, including accrued and unpaid interest, evidenced by the Existing Note.
Restated Note. This Revolving Note amends and restates an existing Revolving Note dated August 18, 2009, in the original principal amount of $4,000,000.00 issued by the Borrowers to the order of Bank (the “Prior Note”). It is expressly intended, understood and agreed that this Revolving Note shall replace the Prior Note as evidence of the indebtedness of Borrowers to Bank under the Revolving Loan, and such indebtedness shall be considered outstanding hereunder from and after the date hereof and shall not be considered paid (nor shall the Borrowers’ obligation to pay the same be considered discharged or satisfied) as a result of the issuance of this Revolving Note. /3 M-tron Industries, Inc., a Delaware corporation, Borrower By: _____________________________________ Name: ___________________________________ Title: ____________________________________ Piezo Technology, Inc., a Florida corporation, Borrower By: _____________________________________ Name: ___________________________________ Title: ____________________________________ STATE OF ) ) ss. COUNTY OF ) On this day of ____________, 2010, before me, the undersigned, a Notary Public, personally appeared ______________________, on behalf of said entity as __________________ of M-tron Industries, Inc., a Delaware corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public STATE OF ) ) ss. COUNTY OF ) On this day of ____________, 2010, before me, the undersigned, a Notary Public, personally appeared ______________________, on behalf of said entity as __________________ of Piezo Technology, Inc., a Florida corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public
Restated Note. The Restated Loan is evidenced by the Restated Note. The aggregate principal balance of the Restated Loan on the Effective Date is the principal amount stated in the Restated Note. Borrower will pay interest on the Restated Loan in accordance with the Restated Note.
Restated Note. Concurrently with the execution and delivery of this Amendment, the Company shall execute and deliver to the Agent a Third Amended and Restated Promissory Note (the “Restated Note”), evidencing the Revolving Commitment in the principal amount of $15,000,000, in form and substance satisfactory to the Agent. Upon receipt by the Agent of the Restated Note, the existing Second Amended and Restated Promissory Note dated as of July 11, 2011, made by the Company to the Agent in the original principal amount of $21,000,000 (the “Existing Note”) shall be canceled and the Revolving Commitment and all accrued and unpaid interest on the Existing Note shall thereafter be evidenced by the Restated Note. Without duplication, the Restated Note shall not constitute a novation and shall in no way extinguish the Company’s unconditional obligation to repay all indebtedness, including accrued and unpaid interest, evidenced by the Existing Note.
Restated Note. EXHIBIT B to the Restated Loan Agreement is being replaced in its entirety with EXHIBIT B attached hereto. The Borrowers shall execute and deliver to the Lender on the date hereof the Second Restated Note in substitution for and not satisfaction of, the issued and outstanding Restated Note, and the Second Restated Note shall be the “Line of Credit Replacement Note” for all purposes of the Loan Documents. The Note being substituted pursuant to this Agreement shall be marked “Replaced” and returned to the Company after the execution and delivery of the Second Restated Note to the Lender.
Restated Note. The Note shall be restated in a form entitled "Fourth Restated Revolving Credit Note" which shall state its original principal amount as being Forty-Five Million and No/100 Dollars ($45,000,000.00) to conform to the amended definition of "Revolving Credit Commitment" stated in this Agreement, a copy of the form of Note is attached as Exhibit "A". The terms "Note(s)" or "Revolving Credit Note(s)" shall include the Fourth Restated Revolving Credit Note for all purposes and in all Loan Documents. Bank One shall retain the written instrument evidencing the original Revolving Credit Note dated June 27, 1995 in the original principal amount of $5,000,000, the original Restated Revolving Credit Note dated August 1, 1996 in the original principal amount of $15,000,000, the original Second Restated Revolving Credit Note dated effective June 14, 1988 in the original principal amount of $15,000,000, and the original Third Restated Revolving Credit Note dated December 4, 1998 in the original principal amount of $30,000,000, all of which shall be deemed to be superseded by the written instrument evidencing the Fourth Restated Revolving Credit Note dated on even date with this Agreement in the original principal amount of $45,000,000. Each such superseded note shall be marked "SUPERSEDED BY THE WRITTEN INSTRUMENT EVIDENCING THE FOURTH RESTATED REVOLVING CREDIT NOTE DATED EFFECTIVE JULY 16, 1999" and copies of such notes will be delivered to Company contemporaneously with the execution of this Agreement.
Restated Note. Borrower shall execute and deliver to Lender, in the form required by Lender, an Amended and Restated Promissory Note ("RESTATED NOTE") which will replace and supersede the Note. The Restated Note will include an additional principal advance of $262,000.00 ("ADDITIONAL ADVANCE"). References in the Loan Documents to the Note shall mean the Restated Note. The Restated Note will be secured by the Deed of Trust. Funding of the undisbursed balance of the Restated Note will be subject to the terms and conditions of the Construction Loan Agreement dated December 20, 1995 between Borrower and Lender. b.
Restated Note. The Note shall be restated in a form entitled "Second Restated Revolving Credit Note" which shall state its original principal amount as being Fifteen Million and No/100 Dollars ($15,000,000.00), a copy of the form is attached as Exhibit "A". The terms "Note(s)" or "Revolving Credit Note(s)" shall include the Second Restated Revolving Credit Note for all purposes and in all Loan Documents. Bank One shall retain the written instrument evidencing the original Revolving Credit Note dated June 27, 1995 in the original principal amount of $5,000,000 and the original Restated Revolving Credit Note dated August 1, 1996 in the original principal amount of $15,000,000, both of which shall be deemed to be superseded by the written instrument evidencing the Second Restated Revolving Credit Note dated on even date with this Agreement in the original principal amount of $15,000,000. Each such note shall be marked "Superseded by the Written Instrument Evidencing the Second Restated Revolving Credit Note dated effective June 14, 1998" and copies of such notes will be delivered to Company contemporaneously with the execution of this Agreement.
Restated Note. The Company will deliver with this Amendment a restated revolving credit note in the form of Exhibit A attached hereto in the aggregate principal amount of $10,000,000 (the "Restated Note"). From and after the effectiveness of this Amendment, all references in the Agreement and the Loan Documents to the Note shall be deemed to be references to the Restated Note.
