The Master Line of Credit Note Sample Clauses

The Master Line of Credit Note. The Fourth Replacement Master Line of Credit Note is hereby amended and restated in its entirety as follows: MASTER LINE OF CREDIT NOTE $10,000,000 McLean, Virginia FOR VALUE RECEIVED, COMARCO, INC., a corporation organized under the laws of the State of California (the "Borrower") promises to pay to the order of BANK OF AMERICA, N.A. (formerly NATIONSBANK, N.A.) a national banking association, its successors and assigns (the "Lender"), the principal sum of TEN MILLION DOLLARS ($10,000,000) (the "Principal Sum"), or so much thereof as has been or may be advanced or readvanced to or for the account of the Borrower, together with interest thereon at the rate or rates hereinafter provided, in accordance with the following: 1.
Sample 1
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The Master Line of Credit Note. From and after the date hereto, all references in the Loan Agreement to the "Master Line of Credit Note" shall mean that certain Fifth Amended and Restated Master Line of Credit Note of even date herewith (the "Fifth Replacement Master Line of Credit Note") from the Borrower in favor of the Lender in the maximum principal amount of Ten Million Dollars ($10,000,000) in the form of Exhibit B-1 attached hereto. The Fifth Replacement Master Line of Credit Note amends and restates in its entirety that certain Fourth Amended and Restated Master Line of Credit Note dated August 21, 1998 (the "Fourth Replacement Master Line of Credit Note") from the Borrower in favor of the Lender in the maximum principal amount of Ten Million Dollars ($10,000,000). The Borrower and the Lender agree that the execution of this Agreement is not intended and shall not cause or result in a novation with regard to the Fourth Replacement Master Line of Credit Note. The Fifth Replacement Master Line of Credit Note shall not operate as a novation of any of the sums due or owing under the Fourth Master Line of Credit Note or nullify, discharge, or release any sums due or owing under the Fourth Master Line of Credit Note or the continuing contractual relationship of the parties hereto in accordance with the provisions of this Agreement.
Sample 1
The Master Line of Credit Note. From and after the date hereto, all references in the Loan Agreement to the "Master Line of Credit Note" shall mean that certain Third Amended and Restated Master Line of Credit Note of even date herewith (the "Third Replacement Master Line of Credit Note") in the form of Exhibit B-1 attached hereto. The Third Replacement Master Line of Credit Note amends and restates in its entirety that certain Amended and Restated Master Line of Credit Note dated August 30, 1996 (the "Second Replacement Master Line of Credit Note") from the Borrower in favor of the Lender in the maximum principal amount of $8,000,000. The Borrower and the Lender agree that the execution of this Agreement is not intended and shall not cause or result in a novation with regard to the Second Replacement Master Line of Credit Note. The Third Replacement Master Line of Credit Note shall not operate as a novation of any of the sums due or owing under the Second Master Line of Credit Note or nullify, discharge, or release any sums due or owing under the Second Master Line of Credit Note or the continuing contractual relationship of the parties hereto in accordance with the provisions of this Agreement. 3.
Sample 1
The Master Line of Credit Note. The Second Replacement Master Line of Credit Note is hereby amended and restated in its entirety as follows: MASTER LINE OF CREDIT NOTE -------------------------- $8,000,000 McLean, Virginia FOR VALUE RECEIVED, COMARCO, INC., a corporation organized under the laws of the State of California (the "Borrower")promises to pay to the order of NATIONSBANK, N.A., a national banking association, its successors and assigns (the "Lender"), the principal sum of EIGHT MILLION DOLLARS ($8,000,000) (the "Principal Sum"), or so much thereof as has been or may be advanced or readvanced to or for the account of the Borrower, together with interest thereon at the rate or rates hereinafter provided, in accordance with the following:
Sample 1

Related to The Master Line of Credit Note

  • Line of Credit Note Xxxxxxxx's obligation to repay advances under the Line of Credit shall be evidenced by a promissory note substantially in the form of Exhibit A attached hereto ("Line of Credit Note"), all terms of which are incorporated herein by this reference.

  • The Line of Credit On terms and conditions as set forth herein, the Bank agrees to make Advances to the Borrowers from time to time from the date hereof to the Expiration Date, provided the aggregate amount of such Advances outstanding at any time does not exceed $40,000,000.00 (the “Line of Credit”). Within the foregoing limits, the Borrowers may borrow, partially or wholly prepay, and reborrow under this Section 2.1. Proceeds of the Line of Credit shall be used to assist with seasonal working capital needs and acquisitions.

  • Line of Credit Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including April 2, 2015, not to exceed at any time the aggregate principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) (“Line of Credit”), the proceeds of which shall be used to finance Borrower’s working capital requirements. Borrower’s obligation to repay advances under the Line of Credit shall be evidenced by a promissory note dated as of May 1, 2012 (“Line of Credit Note”), all terms of which are incorporated herein by this reference.

  • Revolving Line of Credit From time to time prior to the expiration of the Term, so long as an Event of Default has not occurred or if an Event of Default has occurred, such Event of Default has been timely remedied, Lender will, in its Discretion and subject to the terms and conditions set forth in this Agreement, make Revolving Loans to Borrower in such amounts as Borrower may request, provided that the aggregate principal amount of all Revolving Loans shall not exceed the lesser of the Revolving Advance Limit or the Borrowing Base. Borrower may request from time to time Revolving Loan advances by submitting a signed, completed Borrowing Base Certificate to Lender, in each case given no later than 1:00 p.m. (Eastern time) on the Business Day of the proposed Revolving Loan advance. Subject to the terms and conditions of this Agreement, Lender will make the proceeds of each such requested Revolving Loan advance available to Borrower on the day requested by transferring funds to Borrower's Operating Account or as otherwise instructed by Borrower. Lender shall not be obligated to make Revolving Loans to Borrower at any time; each Revolving Advance which is made under this Agreement will be made at the option of, and in the Discretion of, Lender. The Revolving Loans will not be evidenced by a promissory note and a copy of Lender's books and records related to the Revolving Loans shall constitute prima facie evidence of the outstanding amount of Revolving Loans. The Revolving Loans will be due and payable upon the earlier of the occurrence of an Event of Default or the expiration of the Initial Term. Should an Overadvance exist, Borrower shall immediately make principal reduction payments of such excess to Lender as are required to reduce the outstanding balance of the Revolving Loans such that no Overadvance exists. For each Revolving Loan made to Borrower via wire transfer, Borrower shall pay Lender an Electronic Payment Fee of $25.00, or such other amount as Lender shall customarily charge its Borrowers for the cost and expense of making electronic transfers of funds.

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrowers. The amount of the line of credit (the “Facility No. 1 Commitment”) is Twenty Million and 00/100 Dollars ($20,000,000.00).

  • Revolving Credit Note The obligation of the Borrowers to pay the Revolving Loan, with interest, shall be evidenced by a promissory note (as from time to time extended, amended, restated, supplemented or otherwise modified, the “Revolving Credit Note”) substantially in the form of EXHIBIT A-1 attached hereto and made a part hereof, with appropriate insertions. The Revolving Credit Note shall be dated as of the Closing Date, shall be payable to the order of the Lender at the times provided in the Revolving Credit Note, and shall be in the principal amount of the Revolving Credit Committed Amount. Each of the Borrowers acknowledges and agrees that, if the outstanding principal balance of the Revolving Loan outstanding from time to time exceeds the face amount of the Revolving Credit Note, the excess shall bear interest at the rates provided from time to time for advances under the Revolving Loan evidenced by the Revolving Credit Note and shall be payable, with accrued interest, ON DEMAND. The Revolving Credit Note shall not operate as a novation of any of the Obligations or nullify, discharge, or release any such Obligations or the continuing contractual relationship of the parties hereto in accordance with the provisions of this Agreement.

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate, plus three-quarters of one percent (0.75%), which interest shall be payable monthly in accordance with Section 2.1.2(b) above and Section 2.3(d) below.

  • Term Loan Advance Subject to Section 2.3(b), the principal amount outstanding under the Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate plus three percent (3.00%), which interest shall be payable monthly.

  • The Loan Section 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in the Loan Agreement, various currencies that shall have an aggregate value equivalent to the amount of one hundred million dollars ($100,000,000), being the sum of withdrawals of the proceeds of the Loan, with each withdrawal valued by the Bank as of the date of such withdrawal.

  • Amendment of Credit Agreement The Credit Agreement is hereby amended as follows:

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