Common use of Variable Funding Notes Clause in Contracts

Variable Funding Notes. The Loans made by each Group shall be evidenced by promissory notes of the Borrower, substantially in the form of Exhibit A hereto (the “VFN” or “Variable Funding Notes”), payable to the order of the related Managing Agent for such Group for the account of the related Lender or Bank Investors, as applicable. Each Managing Agent shall record the date and amount of each Loan made and the date and amount of each payment of principal thereof, and any such recordation shall constitute prima facie evidence of the accuracy of the information so recorded. Each VFN shall (a) be dated the date hereof, (b) be stated to mature on the Scheduled Termination Date, and (c) provide for the payment of principal, interest and fees in accordance with Section 2.5 and Section 2.6 hereof.