Term Note. The Term Loan made by each Lender shall be evidenced by a promissory note of the Company, substantially in the form of Exhibit B, with appropriate insertions (individually a "Term Note" and, collectively, the "Term Notes") payable to the order of such Lender and representing the obligation of the Company to pay the unpaid principal amount of the Term Loan of such Lender with interest thereon as prescribed in Section 3.01. Each Lender is authorized to record the Type of its Term Loan and the date and amount of each payment or prepayment of principal thereof in such Lender's records or on the grid schedule annexed to the Term Note; provided, however, that the failure of a Lender to set forth each payment and other information shall not in any manner affect the obligation of the Company to repay the Term Loan made by such Lender in accordance with the terms of its Term Note and this Agreement. The Term Note, the grid schedule and the books and records of each Lender shall constitute presumptive evidence of the information so recorded absent manifest error. Each Term Note shall (a) be dated the Revolving Credit Conversion Date, (b) be stated to mature on the Term Loan Maturity Date and (c) be payable as to principal in sixteen consecutive equal quarterly installments commencing on the last Business Day of the calendar quarter in which the Revolving Credit Conversion Date occurs. The amount of such payments received by each Lender on each of the initial fifteen installment dates shall be in the amount of each Lender's Commitment Proportion of the original principal amount the Term Loan and the last installment received by each Lender shall be in the amount of each Lender's Commitment Proportion of the remaining principal amount outstanding on the Term Loan Maturity Date. Each Lender's Term Note shall bear interest from the date thereof until paid in full on the unpaid principal amount thereof from time to time outstanding at the applicable interest rate per annum determined as provided in, and payable as specified in, Section 3.01.
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Term Note. The Term Loan made by each Lender shall be evidenced by a promissory note of the Company, substantially in the form of Exhibit B, with appropriate insertions (individually a "“Term Note" ” and, collectively, the "“Term Notes"”) payable to the order of such Lender and representing the obligation of the Company to pay the unpaid principal amount of the Term term Loan of such Lender with interest thereon as prescribed in Section 3.01. Each Lender is authorized to record the Type of its Term Loan and the date and amount of each payment or prepayment of principal thereof in such Lender's ’s records or on the grid schedule annexed to the Term Note; provided, however, that the failure of a Lender to set forth each payment and other information shall not in any manner affect the obligation of the Company to repay the Term Loan made by such Lender in accordance with the terms of its Term Note and this Agreement. The Term Note, the grid schedule and the books and records of each Lender shall constitute presumptive evidence of the information so recorded absent manifest error. Each Term Note shall (a) be dated the Revolving Credit Conversion Closing Date, (b) be stated to mature on the Term Loan Maturity Date and (c) be payable as to principal in sixteen nineteen consecutive equal quarterly installments commencing on March 31, 2007 and on the last Business Day day of each March, June, September and December thereafter, with a twentieth and final payment on the calendar quarter in which the Revolving Credit Conversion Date occursTerm Loan Maturity Date. The amount of such payments received by each Lender on each of the initial fifteen installment dates date and each installment date through June 30, 2008 shall be in the amount of each Lender's ’s Commitment Proportion of $3,250,000, for each installment date from September 30, 2008 through March 31, 2009 shall be in the original principal amount of each Lender’s Commitment Proportion of $250,000, for each installment date from June 30, 2009 through March 31, 2010 shall be in the Term Loan amount of each Lender’s Commitment Proportion of $1,625,000, for each installment date from June 30, 2010 through March 31, 2011 shall be in the amount of each Lender’s Commitment Proportion of $3,250,000, for each installment date from June 30, 2011 through September 30, 2011 shall be in an amount of each Lender’s Commitment Proportion of $5,325,000, and the last installment received by each Lender shall be in the amount of each Lender's ’s Commitment Proportion of the remaining principal amount outstanding on the Term Loan Maturity Dateoutstanding. Each Lender's Term Note shall bear interest from the date thereof until paid in full on the unpaid principal amount thereof from time to time outstanding at the applicable interest rate per annum determined as provided in, and payable as specified in, Section 3.01.”
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Term Note. The Term Loan made by each Lender shall be evidenced by a promissory note of the Company, substantially in the form of Exhibit B, with appropriate insertions (individually individually, a "“Term Note" ” and, collectively, the "“Term Notes"”) payable to the order of such Lender and representing the obligation of the Company to pay the unpaid principal amount of the Term term Loan of such Lender with interest thereon as prescribed in Section 3.01. Each Lender is authorized to record the Type of its Term Loan and the date and amount of each payment or prepayment of principal thereof in such Lender's ’s records or on the grid schedule annexed to the Term Note; provided, however, that the failure of a Lender to set forth each payment and other information shall not in any manner affect the obligation of the Company to repay the Term Loan made by such Lender in accordance with the terms of its Term Note and this Agreement. The Term Note, the grid schedule and the books and records of each Lender shall constitute presumptive evidence of the information so recorded absent manifest error. Each Term Note shall (a) be dated the Revolving Credit Conversion Closing Date, (b) be stated to mature on the Term Loan Maturity Date and (c) be payable as to principal in sixteen nineteen consecutive equal quarterly installments commencing on December 31, 2010 and on the last Business Day day of each March, June, September and December thereafter, with a twentieth and final payment on the calendar quarter in which the Revolving Credit Conversion Date occursTerm Loan Maturity Date. The amount of such payments received by each Lender on each of the initial fifteen nineteen installment dates shall be in the amount of each Lender's ’s Commitment Proportion of the original principal amount the Term Loan $4,000,000, and the last installment received by each Lender shall be in the amount of each Lender's ’s Commitment Proportion of the remaining principal amount outstanding on the Term Loan Maturity Dateoutstanding. Each Lender's Term Note shall bear interest from the date thereof until paid in full on the unpaid principal amount thereof from time to time outstanding at the applicable interest rate per annum determined as provided in, and payable as specified in, Section 3.01.
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Term Note. The Term Loan made by each Lender shall be evidenced by a promissory note of the Company, substantially in the form of Exhibit BB hereto, with appropriate insertions (individually individually, a "“Term Note" ” and, collectively, the "“Term Notes"”) payable to the order of such Lender and representing the obligation of the Company to pay the unpaid principal amount of the Term term Loan of such Lender with interest thereon as prescribed in Section 3.01. Each Lender is authorized to record the Type of its Term Loan and the date and amount of each payment or prepayment of principal thereof in such Lender's ’s records or on the grid schedule annexed to the Term Note; provided, however, that the failure of a Lender to set forth each payment and other information shall not in any manner affect the obligation of the Company to repay the Term Loan made by such Lender in accordance with the terms of its Term Note and this Agreement. The Subject to Section 10.05(d), the Term Note, the grid schedule and the books and records of each Lender shall constitute presumptive evidence of the information so recorded absent manifest error. Each Term Note shall (a) be dated the Revolving Credit Conversion Closing Date, (b) be stated to mature on the Term Loan Maturity Date and (c) be payable as to principal in sixteen consecutive equal quarterly installments commencing beginning on the last Business Day September 30, 2012. The Company shall make principal payments in respect of the calendar quarter in which the Revolving Credit Conversion Date occurs. The amount of such payments received by each Lender Term Loans on each of date set forth below and in the initial fifteen installment dates aggregate principal amount set forth opposite such date: Date Amount September 30, 2012 $ 1,000,000 December 31, 2012 $ 1,000,000 March 31, 2013 $ 1,000,000 June 30, 2013 $ 2,000,000 September 30, 2013 $ 2,000,000 December 31, 2013 $ 2,250,000 March 31, 2014 $ 2,250,000 June 30, 2014 $ 39,500,000 To the extent not previously repaid, the aggregate unpaid principal amount under the Term Loans shall be paid in full by the amount of each Lender's Commitment Proportion of the original principal amount the Term Loan and the last installment received by each Lender shall be in the amount of each Lender's Commitment Proportion of the remaining principal amount outstanding Company on the Term Loan Maturity Date. The amount of such quarterly principal payments as well as the payment on the Term Loan Maturity Date received by each Lender on each date shall be the amount of each Lender’s Commitment Proportion of the aggregate principal amount being paid on such date. Each Lender's Term Note shall bear interest from the date thereof until paid in full on the unpaid principal amount thereof from time to time outstanding at the applicable interest rate per annum determined as provided in, and payable as specified in, Section 3.01.
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Term Note. The Term Loan made by each Borrowers shall execute and deliver to Lender shall be evidenced by (i) a promissory note of the Companynote, substantially in the form of Exhibit BEXHIBIT D attached hereto and made a part hereof (as the same has been or may be amended, with appropriate insertions (individually a "Term Note" andmodified, collectivelyextended, and renewed from time to time, the "Initial Term NotesNote"), to evidence the Initial Term Loan, (ii) payable a promissory note, substantially in the form of EXHIBIT J attached hereto and made a part hereof (as -4- the same has been or may be amended, modified, extended, and renewed from time to time, the order "Richards Term Note"), to evidence the Richards Term Loan, (iii) a promissory notx, xxxxxantially in the form of such Lender EXHIBIT K attached hereto and representing made a part hereof (as the obligation same has been or may be amended, modified, extended, and renewed from time to time, the "Grogan's Term Note"), to evidence the Grogan's Xxxm Loan, and (iv) a promissory xxxx, xxbstantially in the form of EXHIBIT O attached hereto and made a part hereof (as the Company same has been or may be amended, modified, extended, and renewed from time to pay time, the unpaid "Arizona Term Note"), to evidence the Arizona Term Loan. The principal amount of the Term Loan of such Lender with interest thereon as prescribed in Section 3.01. Each Lender is authorized to record the Type of its Term Loan and the date and amount of each payment or prepayment of principal thereof in such Lender's records or on the grid schedule annexed to the Term Note; provided, however, that the failure of a Lender to set forth each payment and other information shall not in any manner affect the obligation of the Company to repay the Term Loan made by such Lender in accordance with the terms of its Term Note and this Agreement. The Term Note, the grid schedule and the books and records of each Lender shall constitute presumptive evidence of the information so recorded absent manifest error. Each Initial Term Note shall be payable in sixty (a60) be dated the Revolving Credit Conversion Date, (b) be stated to mature consecutive monthly installments payable on the last Business Day of each successive calendar month commencing on March 31, 1996 with installments payable through and including February 28, 1997 in the amount of $66,666.67, thereafter installments payable through and including February 28, 1998 in the amount of $70,833.34, thereafter installments payable through and including February 28, 1999 in the amount of $75,000, thereafter installments payable through and including February 29, 2000 in the amount of $83,333.34, thereafter installments through and including February 1, 2001 in an amount of $79,166.67 with a final installment of any and all principal remaining on March 15, 2001. The principal amount of the Richards Term Loan Maturity Date and (c) Note shall be payable as to principal in sixteen consecutive equal quarterly conxxxxxxxx monthly installments payable on the last Business Day of each successive calendar month commencing on the last Business Day of the calendar quarter month in which the Revolving Credit Conversion Richards Term Loan is advanced (the "Richaxxx Xxxxial Payment Date") in accordance xxxx the following schedule: Monthly Period Payment Richards Initial Payment Date occursRichards Xxxxxxx through February 28, 1000 Payment Amount March 1, 1997 through February 28, 1998 $23,333.33 March 1, 1998 through February 28, 1999 $25,128.21 March 1, 1999 through February 29, 2000 $26,923.08 March 1, 2000 through February 28, 2001 $30,512.83 with a final installment of any and all principal remaining on March 15, 2001. The principal amount of such payments received by each Lender on each of the initial fifteen installment dates shall be in the amount of each Lender's Commitment Proportion of the original principal amount the Term Loan and the last installment received by each Lender shall be in the amount of each Lender's Commitment Proportion of the remaining principal amount outstanding on the Term Loan Maturity Date. Each LenderGrogan's Term Note shall bear interest from the date thereof until paid be payable in full consecutive xxxxxxx installments payable on the unpaid last Business Day of each successive calendar month commencing on the last Business Day of the calendar month in which the Grogan's Term Loan is advanced (the "Grogax'x Xxxxial Payment Date") in accordance xxxx the following schedule: Monthly Period Payment Grogan's Initial Payment Date Grogan's Initial through Februarx 00, 0097 Payment Amount March 1, 1997 through February 28, 1998 $25,000.00 March 1, 1998 through February 28, 1999 $27,083.33 March 1, 1999 through February 29, 2000 $33,333.33 March 1, 2000 through February 28, 2001 $35,416.67 with a final installment of any and all principal remaining on March 15, 2001, or such other schedule as shall be mutually satisfactory to the Lender and the Borrowers. The principal amount thereof from time of the Arizona Term Note shall be payable upon the earlier to time outstanding at occur of (x) the applicable interest rate per annum determined as provided inissuance of the Mezzanine Debt by ABC and (y) April 15, and payable as specified in, Section 3.011997.
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Samples: Loan and Security Agreement (Atlantic Beverage Co Inc)
Term Note. The Term Loan made by each Lender shall be evidenced by a promissory note of the Company, substantially in the form of Exhibit B, with appropriate insertions (individually a "Term Note" and, collectively, the "Term Notes") payable to the order of such Lender and representing the obligation of the Company to pay the unpaid principal amount of the Term Loan of such Lender with interest thereon as prescribed in Section 3.01. Each Lender is authorized to record the Type of its Term Loan and the date and amount of each payment or prepayment of principal thereof in such Lender's records or on the grid schedule annexed to the Term Note; provided, however, that the failure of a Lender to set forth each payment and other information shall not in any manner affect the obligation of the Company to repay the Term Loan made by such Lender in accordance with the terms of its Term Note and this Agreement. The Term Note, the grid schedule and the books and records of each Lender shall constitute presumptive evidence of the information so recorded absent manifest error. Each Term Note shall (a) be dated the Revolving Credit Conversion Closing Date, (b) be stated to mature on the Term Loan Maturity Date and (c) be payable as to principal in sixteen twenty consecutive equal quarterly installments commencing on December 31, 2002 and on the last Business Day day of the calendar quarter in which the Revolving Credit Conversion Date occurseach March, June, September and December thereafter. The amount of such payments received by each Lender on each of the initial fifteen nineteen installment dates shall be in the amount of each Lender's Commitment Proportion of the original principal amount the Term Loan $1,250,000, and the last installment received by each Lender shall be in the amount of each Lender's Commitment Proportion of the remaining principal amount outstanding on the Term Loan Maturity Dateoutstanding. Each Lender's Term Note shall bear interest from the date thereof until paid in full on the unpaid principal amount thereof from time to time outstanding at the applicable interest rate per annum determined as provided in, and payable as specified in, Section 3.01.
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