Examples of Advancing Note in a sentence
This Note has been executed and delivered pursuant to, and is subject to certain terms and conditions in, that certain Amended and Restated Letter Loan Agreement of even date herewith (said Agreement as it may hereafter be amended or modified from time to time being the "Loan Agreement", the terms defined therein and not otherwise defined herein being used herein as therein defined), and is the "Advancing Note" referred to therein.
The chapter makes the following contributions to the literature on informality.
This Note is the Advancing Note issued pursuant to the Credit Agreement.
The Advancing Note bearing number ten (10) shall be designated as the “Unguaranteed Note” and shall not be subject to the USDA Guarantee (as defined in this Loan Agreement).
All of the various representations, warranties, covenants and agreements of Borrower in the Loan Documents shall survive the execution and delivery of this Agreement and the other Loan Documents and the performance hereof and thereof, including the making or granting of the Loans and the delivery of the Advancing Note and the other Loan Documents, and shall further survive until all of the Obligations are paid in full to Lender and all of Lender's obligations to Borrower are terminated.
The Interest Rate on such Advancing Note shall be as specified therein and the final maturity date of such Advancing Note shall be the Loan Termination Date.
Borrower hereby promises to pay interest to Lender pursuant to the terms and at the rate stated in the Advancing Note on all Obligations (including Obligations to pay fees or to reimburse or indemnify Lender) after such Obligations become due.
For example, an advance of $2,000,000 would be made $200,000 under Advancing Note 10, $1,000,000 under Advancing Note 1 and $800,000 under Advancing Note 2.
The Development Loan(s) (together with the Initial Loan) shall be evidenced by the Advancing Note and secured by the Mortgages and other Security Documents.
The Bank will extend credit to Borrower in the principal amount of $5,000,000.00, together with interest thereon as described herein, which will be evidenced by Advancing Note.