Common use of The Note Clause in Contracts

The Note. The Loan made pursuant to Section 1.1 hereof shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached hereto as Exhibit A (the "Note"), such Note shall be dated the date of issuance thereof, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 2000, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing by the Borrower on account of the Note shall be the amount of the Loan disbursed under Section 1.1 hereof less all payments of principal actually received by the Bank. The Bank shall record on its books and records or, at its option, on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer of the Note all such amounts shall be recorded on a schedule to the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, shall be prima facie evidence in any action or proceeding instituted to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Esop Loan and Security Agreement (Aasche Transportation Services Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and to mature in ____ (__) equal annual installments consisting of both principal and interest amortized over a ____ (__) year period in an amount sufficient to repay all borrowed amounts plus interest, commencing on December 31, 199__ and on the last day of each and every December each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereofdue on December 31, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 2000200_, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Leveraged Esop Commitment Letter (Security of Pennsylvania Financial Corp)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof -------- shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and to mature in fifteen (15) equal annual installments consisting of both principal and interest amortized over a fifteen (15) year period in an amount sufficient to repay all borrowed amounts plus interest, commencing on____________, 199__ and on the last day of each and every December each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereofdue on_____________, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 200020__, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Funding Commitment Agreement (South Jersey Financial Corp Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable in ________ (___) consecutive annual equal installments consisting of both principal and interest amortized over a ________ (__) year period in an amount sufficient to repay the Loan plus interest, commencing on __________________, 1998 and on the last day of each and ____________________ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereof, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature due on April 30, 2000________________, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Loan and Security Agreement (First Source Bancorp Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof -------- shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and to mature in eighty (80) equal quarterly installments consisting of both principal and interest amortized over an eighty (80) month period in an amount sufficient to repay all borrowed amounts plus interest, commencing on December 31, 1998 and on the last day of each and every March, June, September and December of each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereof, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature due on April September 30, 20002018, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Commitment Letter (Virginia Capital Bancshares Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable in fifteen (15) equal annual installments consisting of both principal and interest amortized over a fifteen (15) year period in an amount sufficient to repay the Loan plus interest, commencing on _____ __, 1998 and on the last Business Day of each and every ____________ each year, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereofdue on _____ __, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 2000, __ the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Loan Agreement (First Place Financial Corp /De/)

The Note. The disbursement of the Loan made pursuant to Section 1.1 1. I hereof shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "NoteNote "), such which Note shall bear interest as hereinafter provided, and be dated payable in forty (40) equal quarterly principal installments commencing on the last Business Day (as defined below) in September, 1997 and continuing on the last Business Day of each and every calendar quarter thereafter, each such principal installment to be in an amount equal to the principal amount outstanding on the due date of issuance thereofthe installment multiplied by a fraction, the numerator of which shall be payable to one and the order denominator of which shall be the Bank number of principal installments remaining on the Note, including the installment due in the face principal current calendar quarter, except that the final installment in the amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) all principal and interest not sooner paid shall be expressed to mature due on April June 30, 20002007, the final maturity thereof. The principal amount For purposes of this Section 1.2 and the Loan from time to time remaining unpaid hereon other provisions of this Agreement, the phrase "Business Day" shall bear interest as provided mean any day on which savings institutions are generally open for business in Section 2 hereofNew York other than a Saturday or Sunday. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Under on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Loan and Security Agreement (GSB Financial Corp)

The Note. The disbursement of the Loan made pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and to mature in twenty (20) equal annual installments consisting of both principal and interest amortized over a twenty (20) period in an amount sufficient to repay all borrowed amounts plus interest, commencing on ________________ and on the last day of each and every ______________ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereof, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature due on April 30, 2000______________, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Loan Agreement (Richmond Country Financial Corp)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof -------- shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and to mature in ten (10) equal annual installments consisting of both principal and interest amortized over a ten (10) year period in an amount sufficient to repay all borrowed amounts plus interest, commencing on December 31, 1998 and on the last day of each and every December each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereofdue on December 31, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 20002007, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Loan and Security Agreement (West Essex Bancorp Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof -------- shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and to mature in _____ (___) equal annual installments consisting of both principal and interest amortized over a _________ (___) year period in an amount sufficient to repay all borrowed amounts plus interest, commencing on ______________, 200___, and on the last day of each and every ______________ each year thereafter, except that the final installment not sooner paid shall be dated the date of issuance thereofdue on _______________, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 2000, 20___ the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Esop Funding Commitment (Berkshire Hills Bancorp Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof -------- shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"). Such Note is to bear interest as hereinafter provided, such Note shall be dated the date and to mature in [number] (#) equal annual installments consisting of issuance thereof, be payable both principal and interest amortized over a [number] (#) year period in an amount sufficient to the order repay all borrowed amounts plus interest. Repayment of the Bank Note will commence on December 31, 1998 and continue on the 31st of every December each year thereafter, with the final installment in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) all principal and be expressed to mature interest due on April 30, 2000[Date], the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Loan and Security Agreement (Massachusetts Fincorp Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and to mature in [number] (#) equal annual installments consisting of both principal and interest amortized over a [number] (#) year period in an amount sufficient to repay all borrowed amounts plus interest, commencing on December 31, 1998 and on the last day of each and every December each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereof, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature due on April 30, 2000[Date], the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Loan and Security Agreement (West Essex Bancorp Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof -------- shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and to mature in ten (__) equal annual installments sufficient to repay all borrowed amounts plus interest, commencing on ___________, ____, and on the last day of each and every _____ each year thereafter, except that the final installment not sooner paid shall be dated the date of issuance thereofdue on ___________, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 2000____, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Esop Funding Commitment (Woronoco Bancorp Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof -------- shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and to mature in ___________ (___) equal annual installments consisting of both principal and interest amortized over a __________ (___) year period in an amount sufficient to repay all borrowed amounts plus interest, commencing on December 31, 199__ and on the last day of each and every December each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereofdue on December 31, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 200020___, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Commitment Letter (Virginia Capital Bancshares Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof -------- shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and to mature in forty (40) equal quarterly installments consisting of both principal and interest amortized over a forty (40) month period in an amount sufficient to repay all borrowed amounts plus interest, commencing on ___________ 31, 1999 and on the last day of each and every March, June, September and December of each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereofdue on ___________ 31, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 200020__, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Commitment Letter (PFSB Bancorp Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and to mature in 3 twenty (20) equal annual installments consisting of both principal and interest amortized over a twenty (20) year period in an amount sufficient to repay all borrowed amounts plus interest, commencing on __________________ and on the last day of each and every ___________ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereof, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 2000due on________________, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Loan Agreement (Bay State Bancorp Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and shall become due and payable in ______ (__) consecutive annual equal installments consisting of both principal and interest amortized over a _____ (__) year period in an amount sufficient to repay the Loan plus interest, commencing on _____________, 1997 and on the last day of each and _____________ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereof, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature due on April 30, 2000_____________, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Loan Agreement (Bayonne Bancshares Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 hereof -------- shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note is to bear interest as hereinafter provided, and to mature in forty-eight (48) equal quarterly installments consisting of both principal and interest amortized over a forty- eight (48) month period in an amount sufficient to repay all borrowed amounts plus interest, commencing on ___________ 31, 1999 and on the last day of each and every March, June, September and December of each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereofdue on ___________ 31, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 200020__, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Commitment Letter (First Bancorp of Indiana Inc)

The Note. The disbursement of the Loan made pursuant to Section 1.1 -------- hereof shall be made against and evidenced by a promissory note of the Borrower in the form (with appropriate insertions) attached annexed hereto as Exhibit A (the "Note"), such Note to bear interest as hereinafter provided, and to mature in _______ (__) equal annual installments consisting of both principal and interest amortized over a _______ (__) year period in an amount sufficient to repay all borrowed amounts plus interest, commencing on __________________ and on the last day of each and every ___________ each year thereafter, except that the final installment in the amount of all principal and interest not sooner paid shall be dated the date of issuance thereof, be payable to the order of the Bank in the face principal amount of ONE HUNDRED NINETY-ONE THOUSAND SIX HUNDRED NINETY AND 47/100 DOLLARS ($191,690.47) and be expressed to mature on April 30, 2000due on________________, the final maturity thereof. The principal amount of the Loan from time to time remaining unpaid hereon shall bear interest as provided in Section 2 hereof. Without regard to the principal amount of the Note stated on its face, the actual principal amount at any time outstanding and owing owed by the Borrower on account of the Note shall be the amount of the disbursement of the Loan disbursed made by the Lender under Section 1.1 hereof less all payments of principal actually received by the BankLender. The Bank amount of such disbursement made by the Lender and any repayments of principal thereof shall record be recorded by the Lender on its books and or records or, at its option, endorsed on a schedule to the Note the amount of the Loan disbursed by the Bank under Section 1.1 hereof, any repayments of principal thereof and the principal balance from time to time outstanding, provided that prior to any transfer reverse side of the Note all such amounts shall be by the Lender and the unpaid principal balance at any time so recorded on a schedule to or endorsed by the Note. The Borrower agrees that the record thereof, whether shown on such books and records or on a schedule to the Note, Lender shall be prima facie evidence in any action court or proceeding instituted other proceedings brought to collect or enforce collection of the Note of the principal amount remaining unpaid thereon; provided, however, that the failure of the Bank to record any of the foregoing shall not limit or otherwise affect the obligation of the Borrower to repay the principal amount of the Loan together with accrued interest thereon.

Appears in 1 contract

Sources: Loan Agreement (First Lincoln Bancshares Inc)