2013 Celmet Building Term Loan definition

2013 Celmet Building Term Loan means the term loan made to Borrower by the Lender in the original principal amount of $1,300,000 described in Article 5 hereof.

Examples of 2013 Celmet Building Term Loan in a sentence

• Interest on the 2013 Celmet Building Term Loan shall be calculated on the basis of a year of 360 days for the actual number of days elapsed.

• This 2013 Celmet Building Term Loan Note shall be governed by the laws of the State of New York.

• The Narragansett School Committee shall be responsible for maintaining a school budget, which does not result in expenses exceeding revenue.

• Further, the indebtedness created under the Existing Note is continuing and subsisting pursuant to this 2013 Celmet Building Term Loan Note and all collateral provided in conjunction with the Existing Note is hereby ratified and affirmed as collateral security for all obligations under this 2013 Celmet Building Term Loan Note.

• This is the 2013 Celmet Building Term Loan Note referred to in that certain Fifth Amended and Restated Credit Facility Agreement dated as of December 14, 2015, made between Borrower and Lender (as amended, supplemented, and restated from time to time, the “Agreement”), and evidences the 2013 Celmet Building Term Loan described therein.

• The entire unpaid principal amount of this 2013 Celmet Building Term Loan Note (“2013 Celmet Building Term Loan Note”) shall be due and payable on the 2013 Celmet Building Term Loan Maturity Date.

• The Benefits Committee will be the Plan Administrator of the Plan within the meaning of Section 3(16)(A) of ERISA, a fiduciary with respect to the Plan within the meaning of Sections 3(21)(A)(i) and (iii) of ERISA, and the named fiduciary under Section 402 of ERISA.

• This 2013 Celmet Building Term Loan Note amends, restates and supersedes the 2013 Celmet Building Term Loan Note dated as of November 8, 2013 in the original principal amount of $1,300,000.00 delivered by Borrower to Lender and any amendments, restatements or replacements thereof (as so amended, restated or replaced, the “Existing Note”).

• Borrower’s obligation to repay the 2013 Celmet Building Term Loan shall be evidenced by the 2013 Celmet Building Term Loan Note in substantially the form of Exhibit H to this Agreement, with blanks appropriately completed.

• The proceeds of the 2013 Celmet Building Term Loan were used to reimburse Borrower for the funds expended by it to purchase the Celmet Building at 0000 Xxxxxxx Xxxxxx in Rochester, New York.