The Master Line of Credit Note Sample Clauses

The Master Line of Credit Note. From and after the date hereto, all references in the Loan Agreement to the "Master Line of Credit Note" shall mean that certain Fifth Amended and Restated Master Line of Credit Note of even date herewith (the "Fifth Replacement Master Line of Credit Note") from the Borrower in favor of the Lender in the maximum principal amount of Ten Million Dollars ($10,000,000) in the form of Exhibit B-1 attached hereto. The Fifth Replacement Master Line of Credit Note amends and restates in its entirety that certain Fourth Amended and Restated Master Line of Credit Note dated August 21, 1998 (the "Fourth Replacement Master Line of Credit Note") from the Borrower in favor of the Lender in the maximum principal amount of Ten Million Dollars ($10,000,000). The Borrower and the Lender agree that the execution of this Agreement is not intended and shall not cause or result in a novation with regard to the Fourth Replacement Master Line of Credit Note. The Fifth Replacement Master Line of Credit Note shall not operate as a novation of any of the sums due or owing under the Fourth Master Line of Credit Note or nullify, discharge, or release any sums due or owing under the Fourth Master Line of Credit Note or the continuing contractual relationship of the parties hereto in accordance with the provisions of this Agreement.
Sample 1
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The Master Line of Credit Note. The Second Replacement Master Line of Credit Note is hereby amended and restated in its entirety as follows: MASTER LINE OF CREDIT NOTE -------------------------- $8,000,000 McLean, Virginia FOR VALUE RECEIVED, COMARCO, INC., a corporation organized under the laws of the State of California (the "Borrower")promises to pay to the order of NATIONSBANK, N.A., a national banking association, its successors and assigns (the "Lender"), the principal sum of EIGHT MILLION DOLLARS ($8,000,000) (the "Principal Sum"), or so much thereof as has been or may be advanced or readvanced to or for the account of the Borrower, together with interest thereon at the rate or rates hereinafter provided, in accordance with the following:
Sample 1
The Master Line of Credit Note. The Fourth Replacement Master Line of Credit Note is hereby amended and restated in its entirety as follows: MASTER LINE OF CREDIT NOTE $10,000,000 McLean, Virginia FOR VALUE RECEIVED, COMARCO, INC., a corporation organized under the laws of the State of California (the "Borrower") promises to pay to the order of BANK OF AMERICA, N.A. (formerly NATIONSBANK, N.A.) a national banking association, its successors and assigns (the "Lender"), the principal sum of TEN MILLION DOLLARS ($10,000,000) (the "Principal Sum"), or so much thereof as has been or may be advanced or readvanced to or for the account of the Borrower, together with interest thereon at the rate or rates hereinafter provided, in accordance with the following:
Sample 1
The Master Line of Credit Note. From and after the date hereto, all references in the Loan Agreement to the "Master Line of Credit Note" shall mean that certain Third Amended and Restated Master Line of Credit Note of even date herewith (the "Third Replacement Master Line of Credit Note") in the form of Exhibit B-1 attached hereto. The Third Replacement Master Line of Credit Note amends and restates in its entirety that certain Amended and Restated Master Line of Credit Note dated August 30, 1996 (the "Second Replacement Master Line of Credit Note") from the Borrower in favor of the Lender in the maximum principal amount of $8,000,000. The Borrower and the Lender agree that the execution of this Agreement is not intended and shall not cause or result in a novation with regard to the Second Replacement Master Line of Credit Note. The Third Replacement Master Line of Credit Note shall not operate as a novation of any of the sums due or owing under the Second Master Line of Credit Note or nullify, discharge, or release any sums due or owing under the Second Master Line of Credit Note or the continuing contractual relationship of the parties hereto in accordance with the provisions of this Agreement. 3.
Sample 1

Related to The Master Line of Credit Note

  • Line of Credit Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including April 2, 2015, not to exceed at any time the aggregate principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) (“Line of Credit”), the proceeds of which shall be used to finance Borrower’s working capital requirements. Borrower’s obligation to repay advances under the Line of Credit shall be evidenced by a promissory note dated as of May 1, 2012 (“Line of Credit Note”), all terms of which are incorporated herein by this reference.

  • Revolving Line of Credit (a) On the Closing Date, Lender agrees to open a Revolving Line of Credit in favor of Borrower in the maximum aggregate principal amount of Ten Million Dollars ($10,000,000), reducing to Five Million Dollars ($5,000,000), effective on December 31, 1997. Subject to the fulfillment of the conditions precedent set forth in Sections 13.1 and 13.3 hereof, during the period commencing on the Closing Date and ending on the earliest to occur of (i) the Termination Date and (ii) the date of -------- termination of the Revolving Line of Credit pursuant to Section 2.6 or Section 11 below, Borrower may borrow and repay and reborrow up to a maximum aggregate principal amount of the Revolving Line of Credit; provided, however, that (A) ----------------- each Revolving Advance must be in the amount of One Hundred Thousand Dollars ($100,000) or an integral multiple thereof, (B) Revolving Advances will be made by Lender to Borrower only on the first and the fifteenth of each calendar month (or, in each instance, the next succeeding Business Day, as the case may be), (C) any Revolving Advances constituting LIBOR Rate Borrowings must be obtained and paid in accordance with Section 2.4 below, and (D) repayments of Revolving Advances shall be made in accordance with Section 2.6(a) below; and, provided, --------- further, that at no time shall the aggregate principal amount outstanding under ------- the Revolving Line of Credit exceed the Margin (such requirement being referred to herein as the "MARGIN REQUIREMENT"). If at any time hereafter the Margin ------------------ Requirement is not satisfied, Borrower agrees to repay immediately the then principal balance of the Revolving Note by that amount necessary to satisfy the Margin Requirement.

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrowers. The amount of the line of credit (the “Facility No. 1 Commitment”) is Twenty Million and 00/100 Dollars ($20,000,000.00).

  • Revolving Credit Note The Revolving Credit Loans made by each Lender shall be evidenced by a promissory note of the Company (individually a “Revolving Credit Note” and, collectively, the “Revolving Credit Notes”), substantially in the form attached hereto as Exhibit A, each appropriately completed, duly executed and delivered on behalf of the Company and payable to the order of such Lender in a principal amount equal to the Revolving Credit Commitment of such Lender. Each Revolving Credit Note shall (a) be dated the Closing Date, (b) be stated to mature on the Revolving Credit Commitment Termination Date, and (c) bear interest from the date of the first Revolving Credit Loan until paid in full on the unpaid principal amount thereof from time to time outstanding as provided in Section 3.01 hereof. Each Lender is authorized to record the date, Type and amount of each Revolving Credit Loan, the Applicable Currency thereof, and the date and amount of each payment or prepayment of principal of each Revolving Credit Loan in such Lender’s records or on the grid schedule annexed to such Lender’s Revolving Credit Note; provided, however, that the failure of a Lender to set forth each such Revolving Credit Loan, payment and other information shall not in any manner affect the obligation of the Company to repay each Revolving Credit Loan made by such Lender in accordance with the terms of its Revolving Credit Note and this Agreement. The Revolving Credit Note, the grid schedule and the books and records of each Lender shall constitute presumptive evidence of the information so recorded absent demonstrable error.

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate, plus three-quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.1.2(b) above and Section 2.3(d) below.

  • The Loan Section 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in the Loan Agreement, various currencies that shall have an aggregate value equivalent to the amount of one hundred million dollars ($100,000,000), being the sum of withdrawals of the proceeds of the Loan, with each withdrawal valued by the Bank as of the date of such withdrawal.

  • Amendment of Credit Agreement The Credit Agreement is hereby amended as follows:

  • Loan Advances During the Revolving Period, the Borrower may, at its option, request the Revolving Lenders to make advances of funds (each, a “Loan Advance”) by delivering a Funding Notice with respect to such Loan Advance to the Administrative Agent, which shall provide notification to the Revolving Lenders with respect thereto, in an aggregate amount up to the Availability as of the proposed Funding Date of the Loan Advance; provided, however, that no Revolving Lender shall be obligated to make any Loan Advance on or after the date that is two (2) Business Days prior to the earlier to occur of the applicable Revolving Period End Date or the Termination Date. Following the receipt of a Funding Notice during the Revolving Period, subject to the terms and conditions hereinafter set forth, the Revolving Lenders shall fund such Loan Advance.

  • Letter of Credit Accommodations (a) Subject to and upon the terms and conditions contained herein, at the request of Borrower, Lender agrees to provide or arrange for Letter of Credit Accommodations for the account of Borrower containing terms and conditions acceptable to Lender and the issuer thereof. Any payments made by Lender to any issuer thereof and/or related parties in connection with the Letter of Credit Accommodations shall constitute additional Revolving Loans to Borrower pursuant to this Section 2.

  • Revolving Note The Revolving Loans made by each Lender shall, in addition to this Agreement, also be evidenced by a promissory note of the Borrower substantially in the form of Exhibit K (each a “Revolving Note”), payable to the order of such Lender in a principal amount equal to the amount of its Commitment as originally in effect and otherwise duly completed.

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