Examples of Delayed Draw Term Note in a sentence
The Delayed Draw Term Note Fee shall be due and payable by Borrower, and shall be deemed fully earned by Lender upon Borrower’s execution of such Delayed Draw Term Note.
If the entire principal amount outstanding together with all accrued but unpaid interest and any other charges due on any Delayed Draw Term Note is not paid in full within six (6) months of the date of such Delayed Draw Term Note, then the Delayed Draw Term Note Six Month Fee shall be due and payable by Borrower on the date that is six (6) months after the date of such Delayed Draw Term Note, and shall be deemed fully earned by Lender on such date.
Upon the occurrence and during the continuation of any Event of Default hereunder and the delivery of written notice of such Event of Default to Borrower, the principal amount of the applicable Delayed Draw Term Note will automatically, without notice to or demand upon Borrower, during the continuance of the Event of Default, bear interest at the per annum rate of interest equal to five percent (5%) in excess of the interest rate otherwise in effect hereunder (the “Default Rate”).
The advances made by Xxxxxx hereunder shall constitute advances of principal under each Delayed Draw Term Note, as and when such advances are made.
The Loan Fee, the Delayed Draw Term Note Fee and Delayed Draw Term Note Six Month Fee shall each be in addition to any other fees or charges payable by Borrower or any other Person under this Loan Agreement or any other Loan Document.