Common use of The Revolving Notes Clause in Contracts

The Revolving Notes. All Revolving Credit Loans made by each Bank under its Revolving Credit Commitment shall be evidenced by a single Revolving Credit Note of the Company substantially in the form of Exhibit A hereto (individually, a “Revolving Note” and together, the “Revolving Notes”) payable to the order of such Bank in the principal amount of such Revolving Credit Commitment, but the aggregate principal amount of indebtedness evidenced by such Revolving Note at any time shall be, and the same is to be determined by, the aggregate principal amount of all Revolving Credit Loans made by such Bank to the Company pursuant hereto on or prior to the date of determination less the aggregate amount of principal repayments on such Revolving Credit Loans received by or on behalf of such Bank on or prior to such date of determination. Each Revolving Note shall be dated as of the execution date of this Agreement, shall be delivered concurrently herewith, and shall be expressed to mature on the Revolving Credit Termination Date and to bear interest as provided in Section 1.4 hereof. Each Bank shall record on its books or records or on a schedule to its Revolving Note the amount of each Revolving Credit Loan made by it hereunder, whether each Revolving Credit Loan is a Domestic Rate Loan or Eurodollar Loan, and, with respect to Eurodollar Loans, the interest rate and Interest Period applicable thereto, and all payments of principal and interest and the principal balance from time to time outstanding, provided that prior to any transfer or assignment of such Revolving Note all such amounts shall be recorded on the schedule to such Revolving Note. The record thereof, whether shown on such books or records or on the schedule to the Revolving Note, shall be prima facie evidence as to all such amounts; provided, however, that the failure of any Bank to record, or any mistake in recording, any of the foregoing shall not limit or otherwise affect the obligation of the Company to repay all Revolving Credit Loans made hereunder together with accrued interest thereon.

Appears in 7 contracts

Samples: Credit Agreement (Sanderson Farms Inc), Credit Agreement (Sanderson Farms Inc), Credit Agreement (Sanderson Farms Inc)

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The Revolving Notes. All The Revolving Credit Loans made by each Bank under its Revolving Credit Commitment shall be evidenced by a single Revolving Credit Note separate promissory notes of the Company Borrower in substantially in the form of Exhibit A E hereto (individually, each a “Revolving Note”), dated as of the Closing Date (or such other date on which a Lender may become a party hereto in accordance with §18 hereof) and together, the “completed with appropriate insertions. One Revolving Notes”) Note shall be payable to the order of such Bank each Lender in the a principal amount equal to such Lender’s Commitment Percentage of such Revolving Credit Commitmentthe Total Commitment or, but the aggregate principal amount of indebtedness evidenced by such Revolving Note at any time shall be, and the same is to be determined byif less, the aggregate principal outstanding amount of all Revolving Credit Loans made by such Bank Lender, plus interest accrued thereon, as set forth below. The Borrower irrevocably authorizes each such Lender to make or cause to be made, at or about the Company pursuant hereto on time of the Drawdown Date of any Revolving Loan or prior to at the date time of determination less the aggregate amount receipt of any payment of principal repayments on such Lender’s Revolving Credit Loans received by or Note, an appropriate notation on behalf of such Bank on or prior to such date of determination. Each Lender’s Revolving Note shall be dated as of Record reflecting the execution date of this Agreement, shall be delivered concurrently herewith, and shall be expressed to mature on the Revolving Credit Termination Date and to bear interest as provided in Section 1.4 hereof. Each Bank shall record on its books or records or on a schedule to its Revolving Note the amount of each Revolving Credit Loan made by it hereunder, whether each Revolving Credit Loan is a Domestic Rate Loan or Eurodollar Loan, and, with respect to Eurodollar Loans, the interest rate and Interest Period applicable thereto, and all payments of principal and interest and the principal balance from time to time outstanding, provided that prior to any transfer or assignment making of such Revolving Note all Loan or (as the case may be) the receipt of such amounts shall be recorded on the schedule to such Revolving Notepayment. The record thereof, whether shown outstanding amount of the Revolving Loans set forth on such books or records or on the schedule to the Lender’s Revolving Note, Note Record shall be prima facie evidence as of the principal amount thereof owing and unpaid to all such amounts; providedLender, however, that but the failure of any Bank to record, or any mistake error in so recording, any of the foregoing such amount on such Lender’s Revolving Note Record shall not limit or otherwise affect the obligation obligations of the Company Borrower hereunder or under any Revolving Note to repay all make payments of principal of or interest on any Revolving Credit Loans made hereunder together with accrued interest thereonNote when due.

Appears in 1 contract

Samples: Revolving Credit and Term Loan (Quaker Fabric Corp /De/)

The Revolving Notes. All Revolving Credit Loans made by each Bank under its Revolving Credit Commitment Commitment, shall be evidenced by a single Secured Revolving Credit Note of the Company Borrower substantially in the form of Exhibit A hereto (individually, a "Revolving Note" and together, the "Revolving Notes") payable to the order of such each Bank in the principal amount of such Bank's Revolving Credit Commitment, but the aggregate principal amount of indebtedness evidenced by such Revolving Note at any time shall be, and the same is to be determined by, the aggregate principal amount of all Revolving Credit Loans made by such Bank to the Company Borrower pursuant hereto on or prior to the date of determination less the aggregate amount of principal repayments on such Revolving Credit Loans received by or on behalf of such Bank on or prior to such date of determination. Each Revolving Note shall be dated as of the execution date of this Agreement, shall be delivered concurrently herewith, and shall be expressed to mature on the Revolving Credit Termination Date and to bear interest as provided in Section 1.4 1.3 hereof. Each Bank shall record on its books or records or on a schedule to its Revolving Note the amount of each Revolving Credit Loan made by it hereunder, whether each Revolving Credit Loan is a Domestic Rate Loan or Eurodollar Loan, and, with respect to Eurodollar Loans, the interest rate and Interest Period applicable thereto, and all payments of principal and interest and the principal balance from time to time outstanding, provided that prior to any transfer or assignment of such Revolving Note all such amounts shall be recorded on the schedule to such Revolving Note. The record thereof, whether shown on such books or records or on the schedule to the Revolving Note, shall be prima facie evidence as to all such amounts; provided, however, that the failure of any Bank to record, or any mistake in recording, any of the foregoing shall not limit or otherwise affect the obligation of the Company Borrower to repay all Revolving Credit Loans made hereunder together with accrued interest thereon. Upon the request of any Bank, the Borrower will furnish a new Revolving Note to such Bank to replace its outstanding Revolving Note and at such time the first notation appearing on the schedule on the reverse side of, or attached to, such Revolving Note shall set forth the aggregate unpaid principal amount of Revolving Credit Loans then outstanding from such Bank, and, with respect to each Eurodollar Loan, the interest rate and Interest Period applicable thereto. Such Bank will cancel and deliver to the Borrower the outstanding Revolving Credit Note upon receipt of the new Revolving Credit Note.

Appears in 1 contract

Samples: Maverick Tube Corporation

The Revolving Notes. All The Revolving Credit Loans made by each Bank under its Revolving Credit Commitment shall be evidenced by a single Revolving Credit Note separate promissory notes of the Company Borrower in substantially in the form of Exhibit A EXHIBIT E hereto (individually, each a "Revolving Note"), dated as of the Closing Date (or such other date on which a Lender may become a party hereto in accordance with ss.18 hereof) and together, the “completed with appropriate insertions. One Revolving Notes”) Note shall be payable to the order of such Bank each Lender in the a principal amount equal to such Lender's Commitment Percentage of such Revolving Credit Commitmentthe Total Commitment or, but the aggregate principal amount of indebtedness evidenced by such Revolving Note at any time shall be, and the same is to be determined byif less, the aggregate principal outstanding amount of all Revolving Credit Loans made by such Bank Lender, plus interest accrued thereon, as set forth below. The Borrower irrevocably authorizes each such Lender to make or cause to be made, at or about the Company pursuant hereto on time of the Drawdown Date of any Revolving Loan or prior to at the date time of determination less the aggregate amount receipt of any payment of principal repayments on such Lender's Revolving Credit Loans received by or Note, an appropriate notation on behalf of such Bank on or prior to such date of determination. Each Lender's Revolving Note shall be dated as of Record reflecting the execution date of this Agreement, shall be delivered concurrently herewith, and shall be expressed to mature on the Revolving Credit Termination Date and to bear interest as provided in Section 1.4 hereof. Each Bank shall record on its books or records or on a schedule to its Revolving Note the amount of each Revolving Credit Loan made by it hereunder, whether each Revolving Credit Loan is a Domestic Rate Loan or Eurodollar Loan, and, with respect to Eurodollar Loans, the interest rate and Interest Period applicable thereto, and all payments of principal and interest and the principal balance from time to time outstanding, provided that prior to any transfer or assignment making of such Revolving Loan or (as the case may be) the receipt of such payment. The outstanding amount of the Revolving Loans set forth on such Lender's Revolving Note all such amounts Record shall be recorded on PRIMA FACIE evidence of the schedule principal amount thereof owing and unpaid to such Revolving Note. The record thereofLender, whether shown on such books or records or on the schedule to the Revolving Note, shall be prima facie evidence as to all such amounts; provided, however, that but the failure of any Bank to record, or any mistake error in so recording, any of the foregoing such amount on such Lender's Revolving Note Record shall not limit or otherwise affect the obligation obligations of the Company Borrower hereunder or under any Revolving Note to repay all make payments of principal of or interest on any Revolving Credit Loans made hereunder together with accrued interest thereonNote when due.

Appears in 1 contract

Samples: Revolving Credit Agreement (Quaker Fabric Corp /De/)

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The Revolving Notes. All Revolving Credit Loans made by each Bank under its Revolving Credit Commitment shall be evidenced by a single Revolving Credit Note of the Company substantially in the form of Exhibit A hereto (individually, a "Revolving Note" and together, the "Revolving Notes") payable to the order of such Bank in the principal amount of such Revolving Credit Commitment, but the aggregate principal amount of indebtedness evidenced by such Revolving Note at any time shall be, and the same is to be determined by, the aggregate principal amount of all Revolving Credit Loans made by such Bank to the Company pursuant hereto on or prior to the date of determination less the aggregate amount of principal repayments on such Revolving Credit Loans received by or on behalf of such Bank on or prior to such date of determination. Each Revolving Note shall be dated as of the execution date of this Agreement, shall be delivered concurrently herewith, and shall be expressed to mature on the Revolving Credit Termination Date and to bear interest as provided in Section 1.4 hereof. Each Bank shall record on its books or records or on a schedule to its Revolving Note the amount of each Revolving Credit Loan made by it hereunder, whether each Revolving Credit Loan is a Domestic Rate Loan or Eurodollar Loan, and, with respect to Eurodollar Loans, the interest rate and Interest Period applicable thereto, and all payments of principal and interest and the principal balance from time to time outstanding, provided that prior to any transfer or assignment of such Revolving Note all such amounts shall be recorded on the schedule to such Revolving Note. The record thereof, whether shown on such books or records or on the schedule to the Revolving Note, shall be prima facie evidence as to all such amounts; provided, however, that the failure of any Bank to record, or any mistake in recording, any of the foregoing shall not limit or otherwise affect the obligation of the Company to repay all Revolving Credit Loans made hereunder together with accrued interest thereon.

Appears in 1 contract

Samples: Sanderson Farms Inc

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