Common use of Restated Note Clause in Contracts

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.

Appears in 1 contract

Samples: Loan Documents (Middlesex Water Co)

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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 $68,000,000.003,000,000.00, 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 Note 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 ’s unconditional obligation to repay all indebtedness, including accrued and unpaid interest, evidenced by the Existing Note.

Appears in 1 contract

Samples: Loan Documents (Northern Technologies International Corp)

Restated Note. Concurrently with the execution and delivery of this Amendment------------- Agreement, the Borrower shall execute and deliver to the Bank an amended and a restated note (the "Restated Note") ), evidencing the line of credit Loans in the original principal amount of $68,000,000.00, 30,000,000 in the form and substance satisfactory to the Bankof Exhibit A attached hereto. Upon receipt by the Bank of the Restated Note, the Existing original Note shall be canceledcanceled and returned to the Borrower; the loan evidenced by the Existing Note (the "Existing Loan") Loans and all accrued and unpaid interest on the Existing Loan original Note shall thereafter be evidenced by the Restated Note; and all references to the promissory note "Note" evidencing the Existing Loan Loans in any documents relating thereto, howsoever named, 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 original Note.

Appears in 1 contract

Samples: Tenth Modification Agreement (Sei Corp)

Restated Note. Concurrently with the execution and delivery of this AmendmentAgreement, the Borrower shall execute and deliver to the Bank an amended and a restated note (the "Restated Note") , evidencing the line Line of credit Credit in the original principal amount of $68,000,000.00, 60,000,000 in the form and substance satisfactory to the Bankof Exhibit A attached hereto. Upon receipt by the Bank of the Restated Note, the Existing original Note shall be canceledcancelled and returned to the Borrower; the loan evidenced by the Existing Note (the "Existing Loan") Line of Credit and all accrued and unpaid interest on the Existing Loan original Note shall thereafter be evidenced by the Restated Note; and all references to the promissory note "Note," evidencing the Existing Loan Line of Credit in any documents relating thereto, howsoever named, 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 original Note.

Appears in 1 contract

Samples: Modification Agreement (Tel Save Holdings Inc)

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Restated Note. Concurrently with the execution and delivery of this Amendment, the Borrower shall execute and deliver to the Bank an amended a Third Amended and restated note Restated Committed Line of Credit Note (the "Restated Note") ”), evidencing the line Line of credit Credit in the original principal amount of $68,000,000.00100,000,000.00, in form and substance satisfactory to the Bank. Upon receipt by the Bank of the Restated Note, the Existing original Note shall be canceledcanceled and returned to the Borrower; the loan evidenced by the Existing Note (the "Existing Loan") Line of Credit and all accrued and unpaid interest on the Existing Loan original Note shall thereafter be evidenced by the Restated Note; and all references to the promissory note “Note” evidencing the Existing Loan Line of Credit in any documents relating thereto, howsoever named, 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 ’s unconditional obligation to repay all indebtedness, including accrued and unpaid interest, evidenced by the Existing original Note.

Appears in 1 contract

Samples: Loan Agreement (Erie Indemnity Co)

Restated Note. Concurrently with the execution and delivery of this Amendment------------- Agreement, the Borrower shall execute and deliver to the Bank an amended and a restated note (the "Restated Note") ), evidencing the line of credit Loans in the original principal amount of $68,000,000.00, 50,000,000 in the form and substance satisfactory to the Bankof Exhibit A attached hereto. Upon receipt by the Bank of the Restated Note, the Existing original Note shall be canceledcanceled and returned to the Borrower; the loan evidenced by the Existing Note (the "Existing Loan") Loans and all accrued and unpaid interest on the Existing Loan original Note shall thereafter be evidenced by the Restated Note; and all references to the promissory note "Note" evidencing the Existing Loan Loans in any documents relating thereto, howsoever named, 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 original Note.

Appears in 1 contract

Samples: Agreement (Sei Corp)

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