Examples of Letter of Credit Notes in a sentence
The execution, delivery and performance of this Agreement, the Revolving Notes, the Letter of Credit Notes, the Term Notes, and all collateral, security documents, and agreements executed on behalf of the Borrower have been duly authorized by all necessary corporate action of the Borrower and its Boards of Directors, and all such documents have been duly executed and are valid and binding obligations of the Borrower, enforceable against the Borrower in accordance with their respective terms.
The Revolving Notes, the Term Notes, and the Letter of Credit Notes, together with any and all renewals, extensions, and modifications to any one or more of said notes from time to time in effect (collectively, the "Secured Notes") shall be secured by the collateral, guarantees, and other security documents, agreements, and other documents and papers described below, duly completed and executed, in form and substance satisfactory to the Banks, the Agent and their counsel.
The failure of the Makers to make such payment at such time shall constitute an Event of Default hereunder, under the other Letter of Credit Note, and under the Credit Agreement, and thereafter interest shall accrue on the entire principal balance outstanding under the Letter of Credit Notes, at the Default Rate.
However, at this point of time, we may not have sufficient time to polish the details of the proposed example.
Service Reserve Letter of Credit Loans made by each Lender shall be evidenced by this Agreement and, if requested by such Lender, by a promissory note of the Borrower, substantially in the form of Exhibit C, with appropriate insertions as to payee, date and principal amount(individually, a "Debt Service Reserve Letter of Credit Note"; collectively, the "Debt Service Reserve Letter of Credit Notes"), payable to the order of such Lender.
Duly executed originals of the Letter of Credit Notes and the Term Loan Notes for each applicable Lender, dated the Closing Date.
The Letter of Credit Facility shall be in the principal amount of not to exceed $6,000,000.00 and shall be deemed a part of the Revolving Loan which is a continuation and consolidation of all prior Letter of Credit Notes.
This Note is one of the Letter of Credit Notes referred to in, and issued under, that certain Second Amended and Restated Unsecured Credit Agreement dated as of January 26, 2010, among the Company, UMB Bank, N.A., individually and as Administrative Agent, and the Banks named therein, as amended hereafter from time to time (the “Credit Agreement”) and this Note and the holder hereof are entitled to all of the benefits provided for thereby or referred to therein.
Not later than upon discharge of all obligations of the Corporation, including the Bonds, the Letter of Credit Notes, the Secured Note and the Wellsford REIT Note, the District shall be entitled to acquire fee title to the Public Improvements without cost and unencumbered except as provided in the Operating Agreement.
This Note is one of the Letter of Credit Notes referred to in, and issued under, that certain First Amended and Restated Unsecured Credit Agreement dated as of March 14, 2006, among the Company, UMB Bank, N.A., individually and as Administrative Agent, and the Banks named therein, as amended hereafter from time to time (the “Credit Agreement”) and this Note and the holder hereof are entitled to all of the benefits provided for thereby or referred to therein.