Amended Revolving Note Sample Clauses

The Amended Revolving Note clause defines the terms and conditions governing a revised or updated promissory note that supports a revolving line of credit. This clause typically outlines the principal amount, interest rate, repayment schedule, and any modifications from the original note, such as changes in borrowing limits or maturity dates. By specifying these updated terms, the clause ensures both parties are clear on their rights and obligations under the amended credit arrangement, thereby reducing the risk of disputes and providing a clear framework for ongoing borrowing and repayment.
Amended Revolving Note. Borrower shall, upon execution of this Loan Amendment, execute and deliver to the Bank an Amended and Restated Revolving Note, in the form attached hereto as Exhibit “A” and incorporated herein by this reference (the “Amended Revolving Note”) for the purposes of reducing the Commitment to Seven Million Five Hundred Thousand and No/100ths Dollars ($7,500,000.00), extending the Loan Termination Date to November 17, 2010, and amending the interest rate applicable to the Loans. Such Amended Revolving Note shall be an extension, amendment and restatement of the Revolving Note, dated November 19, 2008, in the form attached to the Initial Credit Agreement as Exhibit “B,” and all references to the Revolving Note in the Credit Agreement or in any of the other Loan Documents, shall be deemed for all purposes to be a reference to the Amended Revolving Note.
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Amended Revolving Note. Borrower shall, upon execution of this Loan Amendment, execute and deliver to the Bank a Seventh Amended and Restated Revolving Note, in the form attached hereto as Exhibit “A” and incorporated herein by this reference (the “Amended Revolving Note”) for the purpose of extending the Loan Termination Date. All references to the Revolving Note in the Credit Agreement or in any of the other Loan Documents shall be deemed for all purposes to be a reference to the Amended Revolving Note.
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Amended Revolving Note. In conjunction with this Amendment, Borrower shall execute and deliver that certain Amended and Restated Revolving Note of even date herewith made payable to the order of the Lender in the original principal amount of $15,000,000 (as hereinafter amended, modified, supplemented or replaced, the “Amended Revolving Note”). All references to the “Revolving Note” contained in the Credit Agreement shall refer to the Amended Revolving Note.
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Related to Amended Revolving Note

  • Revolving Note The Revolving Loans made by each Lender shall, in addition to this Agreement, also be evidenced by a promissory note of the Borrower substantially in the form of Exhibit K (each a “Revolving Note”), payable to the order of such Lender in a principal amount equal to the amount of its Commitment as originally in effect and otherwise duly completed.

  • Revolving Notes The Revolving Loans made by each Lender shall be evidenced by a duly executed promissory note of the Borrower to such Lender in an original principal amount equal to such Lender's Revolving Commitment Percentage of the Revolving Committed Amount and in substantially the form of Exhibit 2.1(e).

  • 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.

  • The Revolving Credit Notes The Revolving Credit Loans shall be evidenced by separate promissory notes of the Borrower in substantially the form of Exhibit A hereto (each a "Revolving Credit Note"), dated as of the Closing Date and completed with appropriate insertions. One Revolving Credit Note shall be payable to the order of each Bank in a principal amount equal to such Bank's Commitment or, if less, the outstanding amount of all Revolving Credit Loans made by such Bank, plus interest accrued thereon, as set forth below. The Borrower irrevocably authorizes each Bank to make or cause to be made, at or about the time of the Drawdown Date of any Revolving Credit Loan or at the time of receipt of any payment of principal on such Bank's Revolving Credit Note, an appropriate notation on such Bank's Record reflecting the making of such Revolving Credit Loan or (as the case may be) the receipt of such payment. The outstanding amount of the Revolving Credit Loans set forth on such Bank's Record shall be prima facie evidence of the principal amount thereof owing and unpaid to such Bank, but the failure to record, or any error in so recording, any such amount on such Bank's Record shall not limit or otherwise affect the obligations of the Borrower hereunder or under any Revolving Credit Note to make payments of principal of or interest on any Revolving Credit Note when due.

  • Term Note The Term Loan shall be evidenced by the Term Note. At the time of the disbursement of the Term Loan or a repayment made in whole or in part thereon, a notation thereof shall be made on the books and records of the Bank. All amounts recorded shall be, absent demonstrable error, conclusive and binding evidence of (i) the principal amount of the Term Loan advanced hereunder, (ii) any accrued and unpaid interest owing on the Term Loan and (iii) all amounts repaid on the Term Loan. The failure to record any such amount or any error in recording such amounts shall not, however, limit or otherwise affect the joint and several obligations of the Borrowers under the Term Note to repay the principal amount of the Term Loan, together with all interest accruing thereon.