Term Commitment Note definition
Examples of Term Commitment Note in a sentence
Borrower may prepay principal on the Term Commitment solely in accordance with the provisions of the Term Commitment Note.
The principal amount of the Term Commitment shall be repaid in accordance with the provisions of the Term Commitment Note.
Except as expressly provided herein, nothing in this Agreement shall alter or affect any provision, condition or covenant contained in the Line of Credit Note, the Equipment Term Commitment Note or other Loan Documents, or affect or impair any rights, powers, or remedies thereunder, it being the intent of the parties hereto that the provisions of the Line of Credit Note, Equipment Term Commitment Note and the other Loan Documents shall continue in full force and effect except as expressly modified hereby.
From and after the date of any Event of Default under this Agreement, the outstanding principal balance of the Line of Credit Note and the principal balance of the Equipment Term Commitment Note, shall bear interest until paid in full at the Default Rate set forth in the their respective agreements.
Borrower's obligation to repay advances under the Term Commitment shall be evidenced by a promissory note substantially in the form of Exhibit B attached hereto ("Term Commitment Note"), all terms of which are incorporated herein by this reference.
Upon the request of any Lender made through the Administrative Agent, such Lender’s Loans may, in addition to such accounts or records, be evidenced by, in the case of Revolving Line of Credit Loans, a Revolving Line of Credit Note, and, in the case of Term Commitment Loans, by a Term Commitment Note.
The outstanding principal balance of the Term Commitment shall bear interest at the rate of interest set forth in the Term Commitment Note.
Borrower may at one time during the period in which Bank will make advances under the Term Commitment borrow the Term Loan, provided that amounts repaid may not be reborrowed, subject to all the limitations, terms and conditions contained herein; provided however, that the total outstanding borrowings under the Term Commitment Note shall not at any time exceed the maximum principal amount available thereunder, as set forth above.
The parties acknowledge and agree that this Amendment, the Amended and Restated Line of Credit Note, the Term Commitment Note and all documents, instruments and agreements executed in connection herewith are documents delivered to Bank in connection with the Credit Agreement and are therefore Loan Documents.
This Term Commitment Note (this “Note”) is one of the “Term Commitment Notes” referred to in the Agreement, is entitled to the benefits thereof and is subject to optional and mandatory prepayment in whole or in part as provided therein.