Variable Rate Promissory Note definition

Variable Rate Promissory Note means the promissory note to be executed pursuant to Section 2(b) and/or 2(c) below by Borrower in favor of Lender in the maximum original principal amount of $3,000,000.00, as the same may be amended and restated as contemplated by Section 2(c) below and as otherwise amended, modified and supplemented from time to time. The Variable Rate Promissory Note shall be in the form attached to this Agreement as Exhibit L.
View Source

Examples of Variable Rate Promissory Note in a sentence

  • The Loan shall be evidenced by a Revolving Variable Rate Promissory Note (the "Note"), a copy of which is attached to this agreement as Exhibit A and incorporated into this agreement by reference.

  • Such amended and restated promissory note shall be substantially in the form of the Variable Rate Promissory Note attached to this Agreement as Exhibit L, shall bear interest at a variable rate of interest and shall be amortized in monthly payments over a ten year period of time ending on the first day of the first calendar month after the tenth anniversary of the Final Disbursement Date, all as set forth in such Variable Rate Promissory Note.

  • If the Initial Disbursement was in an amount in excess of $3,500,000.00, the Variable Rate Promissory Note shall be amended and restated effective as of the Final Disbursement Date to increase the outstanding principal amount of the Variable Rate Promissory Note to $3,000,000.00.

  • Borrower delivered its Variable Rate Promissory Note to Lender, dated December 3, 1997 (as subsequently amended, "Note"), evidencing its agreement to repay advances made thereunder up to $7,500,000 and executed a Loan Agreement on even date therewith (as subsequently amended, "Loan Agreement").