Multi-Draw Term Note definition
Examples of Multi-Draw Term Note in a sentence
To the extent requested, each Lender shall have received its Term A-1 Loan Note, Term A-2 Loan Note, Term A-3 Loan Note, Revolving Note, Multi-Draw Term Note, and Swingline Note, in each case, dated the Effective Date, duly completed as herein provided and duly executed and delivered by an Authorized Officer of the Borrower.
The obligations of the Borrower to repay the unpaid principal amount of the Multi-Draw Term Loan made to Borrowers by the Bank and to pay interest on the unpaid principal amount shall be evidenced in part by the Multi-Draw Term Note of the Borrower dated the Closing Date in substantially the form attached as Exhibit “C” to this Agreement, with the blanks appropriately filled.
The executed Multi-Draw Term Note shall be delivered by the Borrower to the Bank on the Closing Date.
Upon the occurrence of any one or more of the Events of Default specified in the Credit Agreement, all amounts then remaining unpaid on this Multi-Draw Term Note shall become, or may be declared to be, immediately due and payable, all as provided therein.
The Company will provide a copy of this Agreement to prospective purchasers of Senior Notes identified to the Company by the Initial Purchasers upon request.
Reference is hereby made to the Loan Documents for a description of the properties and assets in which a security interest has been granted, the nature and extent of the security and the guarantees, the terms and conditions upon which the security interests and each guarantee were granted and the rights of the holder of this Multi-Draw Term Note in respect thereof.
Each Multi-Draw Term Note shall (i) be dated the Effective Date, (ii) be payable as provided in subsection 2.9(b) and (iii) provide for the payment of interest in accordance with subsection 4.1.
All parties now and hereafter liable with respect to this Multi-Draw Term Note, whether maker, principal, surety, guarantor, endorser or otherwise, hereby waive, to the maximum extent permitted by applicable law, presentment, demand, protest and all other notices of any kind under this Multi-Draw Term Note.
Each holder hereof, by its acceptance of this Multi-Draw Term Note, agrees to the terms of, and to be bound by and observe the provisions applicable to the Lenders contained in, the Credit Agreement.
The Administrative Agent shall have received, for the account of each Lender, such Lender's Revolving Note, Multi-Draw Term Note and Term B Note, as applicable.