Variable Note definition

Variable Note means the promissory note (together with all schedules, riders, allonges, addenda, renewals, extensions, amendments and modifications thereto), which will be issued by Borrower to Lender, concurrently with the funding of each Variable Advance, and which promissory note will be the same or substantially similar in form to the then current form of promissory note utilized by ▇▇▇▇▇▇ ▇▇▇ for variable rate loans with the applicable type of loan execution.
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Examples of Variable Note in a sentence

  • Specified below under the columns headed “Principal Payment” and “Interest Payment” are the Scheduled Payments with respect to the Guaranteed Loan in the amounts (or, with respect to variable rate interest, based on the rates) due on each Scheduled Payment Due Date, in Guarantee Currency: , 20 [ ] [ ] [ ] [Variable] , 20 [ ] [ ] [ ] [Variable] , 20 [ ] [ ] [ ] [Variable] (Note: Interest amounts are to be determined for each Contract Period in accordance with the Loan Agreement).

  • If a Substitution of the last remaining asset is taking place, the cash collateral or Letter of Credit must include, (A) any yield maintenance that would be due to the extent that the Fixed Notes must be prepaid to effect a release at that time and (B) any fee maintenance that would be due to the extent that the Variable Note must be prepaid to effect a release at that time.

  • Subject to and in accordance with the terms and conditions of the Conversion Schedule, Borrower shall have the right, from time to time during the Conversion Availability Period, to convert all or any portion of a Variable Note to a Fixed Note.

  • Each Variable Note shall be payable to the order of Lender and shall be made in the original principal amount of such Variable Advance.

  • Each Conversion Request shall designate the amount of the Variable Note Outstanding to be converted.

  • In the event that the Term Loan made on the Initial Closing Date is solely a Fixed Loan, the provisions in this Agreement referencing the Variable Loan and Variable Note shall be deemed to be of no further force and effect and be deemed to be eliminated from this Agreement.

  • If the aggregate principal amount Outstanding of the Variable Loan is less than $25,000,000, such Variable Loan must be repaid (together with all associated prepayment premiums and other amounts due under the Variable Note) or converted to a Fixed Loan pursuant to the terms of this Section and Sections 1.06 and 1.07.

  • Pursuant to the terms of Section 2.10(a) (Conversion from Variable Note to Fixed Note), Borrower may convert a Variable Note to a Fixed Note.

  • Promptly following receipt of any notice, the Administrative Agent shall advise the Variable Note Holders of the contents thereof.

  • Any termination or reduction of the Variable Note Commitments pursuant to this Section 2.09 shall be permanent.

Related to Variable Note

  • Variable Interest Rate means any interest rate that does not qualify as a fixed credit interest rate;

  • Fixed Rate Note means a Note on which interest is calculated at a fixed rate payable in arrear on a fixed date or fixed dates in each year and on redemption or on such other dates as may be agreed between the Issuer and the relevant Dealer(s) (as indicated in the applicable Final Terms);

  • Variable Account means the account established for a member who participates in the

  • Underlying Note means the one or more promissory notes executed by an obligor evidencing a Loan.

  • Convertible Note shall have the meaning ascribed to such term in Section 2.1.