Secured Credit Note Clause Samples

Secured Credit Note. The Loans to be made by L▇▇▇▇▇ to Borrower hereunder shall be evidenced by a Secured Credit Note (the “Note”), in substantially the form attached hereto as Exhibit 2.01(f), duly executed and delivered on behalf of B▇▇▇▇▇▇▇ and payable to the order of Lender in a principal amount equal to the Maximum Credit Line. Lender is authorized to record the date, amount of each Loan, and the date and amount of each payment or prepayment of principal of each Loan by the Borrower in Lender’s records and/or on the grid schedule annexed to the Note; provided that the failure of Lender to set forth each such Loan, payment and other information shall not in any manner affect the obligation of Borrower to repay in full each Loan made by Lender in accordance with the terms of the Note and this Agreement. The Note, the grid schedule, and the books and records of Lender shall constitute presumptive evidence of the information so recorded absent manifest error.