Revolving Loans Evidenced by Notes Sample Clauses

Revolving Loans Evidenced by Notes. The Revolving Loans shall be evidenced by the Bank Note to be issued on the Effective Date, payable to the Lender in a principal amount up to the Commitment on the Effective Date and otherwise duly completed. All Revolving Loans made by the Lender and all payments and prepayments made on account of principal thereof shall be recorded by the Lender on the schedule (or a continuation thereof) attached to the related Bank Note, it being understood, however, that failure by the Lender to make any such endorsement shall not affect the obligations of the Authority hereunder or under the related Bank Note in respect of unpaid principal and interest on any Revolving Loan. Each entry on a Bank Note with respect to a Revolving Loan schedule shall reflect the applicable principal amount and the applicable interest rate.
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Revolving Loans Evidenced by Notes. The Revolving Loans will be evidenced by two (2) separate promissory notes: one promissory note will evidence Taxable Revolving Loans and the other will evidence Tax-Exempt Revolving Loans. The Taxable Revolving Loans shall be evidenced by a single promissory note of the Agency to the Bank in substantially the form set forth in Exhibit A-2 hereto (as amended or supplemented from time to time, the “Taxable Note”) to be issued on the Effective Date, payable to the Bank in a principal amount of $15,000,000 (or, if less, the aggregate unpaid principal amount of all Revolving Loans made by the Bank from time to time hereunder) and otherwise duly completed. The Tax-Exempt Revolving Loans shall be evidenced by a single promissory note of the Agency to the Bank in substantially the form set forth in Exhibit A-1 hereto (as amended or supplemented from time to time, the “Tax-Exempt Note”) to be issued on the Effective Date, payable to the Bank in a principal amount of $15,000,000 (or, if less, the aggregate unpaid principal amount of all Revolving Loans made by the Bank from time to time hereunder) and otherwise duly completed. All Revolving Loans made by the Bank and all payments and prepayments made on account of principal thereof shall be recorded by the Bank as set forth in Section 10.1 hereof. The Notes shall not be divisible or transferable except to a bank, financial institution or a qualified investor.
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Revolving Loans Evidenced by Notes. (a) The Tax-Exempt LIBOR Revolving Loans shall be evidenced by a promissory note of the Authority to the Lender in substantially the form set forth in Exhibit A-1 hereto (as amended or supplemented from time to time, the “Tax-Exempt LIBOR Note”) to be issued on the Effective Date, payable to the Lender in a principal amount up to the Available Commitment on the Effective Date and otherwise duly completed. All Tax-Exempt LIBOR Revolving Loans made by the Lender and all payments and prepayments made on account of principal thereof shall be recorded by the Lender on the schedule (or a continuation thereof) attached to the Tax-Exempt LIBOR Note, it being understood, however, that failure by the Lender to make any such endorsement shall not affect the obligations of the Authority hereunder or under the Tax-Exempt LIBOR Note in respect of unpaid principal and interest on any Tax-Exempt LIBOR Revolving Loan. Each entry on the schedule to the Tax-Exempt LIBOR Note with respect to a Tax-Exempt LIBOR Revolving Loan shall reflect the applicable principal amount and the applicable interest rate.
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Related to Revolving Loans Evidenced by Notes

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • Repayment of Loans; Evidence of Debt (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date.

  • Term Loan The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part together with the applicable Prepayment Premium; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of LIBOR Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any such prepayment of LIBOR Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of the Term Loan shall be applied in the inverse order of maturity with respect to the remaining amortization payments. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. On the date of any voluntary prepayment of any Term Loan pursuant to this Section 2.05(a)(ii), the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, whether before or after an Event of Default, the applicable Prepayment Premium. Subject to Section 2.15, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

  • Letters of Credit for Payment Bond Notwithstanding the provisions of B4.3, Purchaser may use letters of credit in lieu of a surety bond for payment bond purposes when approved by Contracting Officer.

  • Commitments of the BUYER 1.1 The BUYER undertakes that no official of the BUYER, connected directly or indirectly with the contract, will demand, take a promise for or accept, directly or through intermediaries, any bribe, consideration, gift, reward, favour or any material or immaterial benefit or any other advantage from the BIDDER, either for themselves or for any person, organisation or third party related to the contract in exchange for an advantage in the bidding process, bid evaluation, contracting or implementation process related to the contract.

  • Letters of Credit (a) The Letter of Credit Commitment.

  • Repayment of Loans (a) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding on such date.

  • Repayment of the Loan The Borrower agrees to repay the EMIs/Monthly Instalments and the other Outstanding Dues to BHFL on or before the respective Due Dates by any of the repayment modes as set out in the Loan Agreement or the Top-Up Loan Addendum, or in such manner and at such place, as may be agreed between the Borrower and BHFL. • BHFL may, at the request of the Borrower in writing, agree to change the repayment mode. BHFL may, at any time, in its discretion revise the repayment schedule in its sole and absolute discretion and notify the Borrower in advance accordingly. • The EMI/Monthly Instalment amount shall be arrived at so as to comprise the repayment of the Loan Amount and payment of Interest calculated on the basis of the Interest Rate within the Loan Tenure. The Borrower agrees to continue paying EMIs/Monthly Instalments until all Outstanding Dues under the Loan have been repaid in full to BHFL.

  • Funding of Borrowings (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower maintained with the Administrative Agent in New York City and designated by the Borrower in the applicable Borrowing Request.

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