Term Note Clause Samples

Term Note. The Term Loan shall be evidenced by the Term Note. At the time of the disbursement of the Term Loan or a repayment made in whole or in part thereon, a notation thereof shall be made on the books and records of the Bank. All amounts recorded shall be, absent demonstrable error, conclusive and binding evidence of (i) the principal amount of the Term Loan advanced hereunder, (ii) any accrued and unpaid interest owing on the Term Loan and (iii) all amounts repaid on the Term Loan. The failure to record any such amount or any error in recording such amounts shall not, however, limit or otherwise affect the joint and several obligations of the Borrowers under the Term Note to repay the principal amount of the Term Loan, together with all interest accruing thereon.

Term Note. The obligation of Borrower to repay the Term Loan shall be evidenced by the Term Note executed by Borrower, payable to the order of Lender, in the principal amount of the Term Loan and dated February 14, 1997. The principal of the Term Loan, plus accrued and unpaid interest thereon, shall be due and payable in: (a) nine (9) consecutive installments each equal to SEVENTY-ONE THOUSAND AND NO/100 DOLLARS ($71,000.00) of principal, together with all accrued and unpaid interest, the first of such installments being due and payable on or before April 1, 1997 and like installments being due and payable on the first day of each succeeding third calendar month thereafter through and including April 1, 1999; and (b) a final installment due and payable on July 1, 1999 in an amount equal to the remaining unpaid principal amount outstanding on the Term Loan, together with all accrued and unpaid interest. The Term Loan shall bear interest prior to maturity at a varying rate per annum equal from day to day to the lesser of (a) the Maximum Rate or (b) the sum of the Bank One Texas Base Rate in effect from day to day plus one-half of one percent (1/2%), each such change in the rate of interest charged hereunder to become effective, without notice to Borrower, on the effective date of each change in the Bank One Texas Base Rate; provided, however, if at any time the rate of interest specified in clause (b) preceding shall exceed the Maximum Rate, thereby causing the interest on the Term Loan to be limited to the Maximum Rate, then any subsequent reduction in the Bank One Texas Base Rate shall not reduce the rate of interest on the Term Loan below the Maximum Rate until the aggregate amount of interest accrued on the Term Loan equals the aggregate amount of interest which would have accrued on the Term Loan if the interest rate specified in clause (b) preceding had at all times been in effect. All past due principal and interest shall bear interest at the Maximum Rate.

Term Note. A Term Note duly executed by the Borrower, in the form prepared by and acceptable to the Bank.

Term Note. The Term Note executed by Borrower;

Term Note. The Term Loan shall be evidenced by the Term Note.

Term Note. (a) During the Term Loan Period, a Term Loan made by the Lender pursuant to subsection 2.1 shall be evidenced by a promissory note of the Borrower, substantially in the form of Exhibit A with appropriate insertions (the "Term Note"), payable to the order of the Lender. The Term Note shall (i) be dated the Borrowing Date (ii) represent the Borrower's obligation to pay the aggregate unpaid principal amount of a Term Loan made by the Lender, (iii) bear interest for the period from the date thereof until paid in full on the unpaid principal amount thereof from time to time outstanding at the applicable interest rate per annum provided in, and payable as specified in, subsection 3.3, (iv) be entitled to the benefits of this Agreement and the Collateral Security Documents and (v) be stated to mature in consecutive monthly installments of principal payable on each Installment Payment Date occurring after the Borrowing Date. The amortization schedule for the Fixed Rate Loan will be based on the assumption that the interest rate applicable to a Term Loan (or such portion thereof that is a Fixed Rate Loan) is the Fixed Interest Rate and will be calculated so that there wi11 be equal quarterly installments of principal and interest during the remaining maturity of a Term Loan. The amortization schedule for the Floating Rate Loan(s) will be based on the assumption that the interest rate for Term Loans (or such portion thereof that is a Floating Rate Loan) is 10.50% and will be calculated in accordance with the immediately preceding sentence. (b) The Lender is hereby authorized to record the date, type and amount of the Term Loans made by the Lender and the date and amount of each payment or prepayment of principal of the Term Loans made by the Borrower, the date of conversion of any Floating Rate Loan to a Fixed Rate Loan, and in the case of a Floating Rate Loan, the interest rate with respect thereto and, if applicable, the Eurodollar Interest Period, and in the case of a Fixed Rate Loan, the Fixed Interest Rate with respect thereto, on the schedules annexed to and constituting a part of the Term Note, and any such recordation shall constitute prima facie evidence of the accuracy of the information so recorded; provided that the failure by the Lender to make any such endorsement shall not affect the obligations of the Borrower hereunder or under the Term Note in respect of the Term Loans made by the Lender hereunder.

Term Note. The Term Note referenced in Section 2.1(a) of the Existing Credit Agreement, and attached to the Existing Credit Agreement as Exhibit A, has been amended and restated in its entirety and is in the form attached hereto as Exhibit A, the terms and provisions of which are incorporated into the Existing Credit Agreement by reference and made a part thereof (the “First Amended and Restated Term Note”).

Term Note. The Term Loan shall be evidenced by a promissory note executed by Borrower in substantially the form attached hereto as Exhibit C (the "Term Note"), with all blanks therein appropriately completed and payable to the order of Bank, which Term Note is hereby incorporated by reference and made a part hereof.

Term Note. The Term Loan and the joint and several obligation of the Borrowers to repay such Loan shall be evidenced by a single Term Note payable to the order of the Lender. Such Note shall be dated the Effective Date and be duly and validly executed and delivered by the Borrowers.