Common use of Date and Maturity of Each Note Clause in Contracts

Date and Maturity of Each Note. Each Note shall, except as ------------------------------ otherwise provided in Sections 12.1 or 12.2 hereof, be dated (A) the Effective Date, in the case of each Revolving Credit Note and the Swing Line Note and (B) the applicable Term Out Date, in the case of each Term Note issued in replacement of a Revolving Credit Loan, and shall be payable at its Maturity. For purposes of this Agreement, the term "Maturity" shall mean, with respect to (i) any Revolving Credit Loan, the earlier of (A) the Term Out Date for such Revolving Credit Loan, (B) the Termination Date and (C) any other date on which such Revolving Credit Loan shall be or become due and payable, in whole or in part, in accordance with the terms of this Agreement, whether by required or optional prepayment, declaration, acceleration, or otherwise, (ii) with respect to any Swing Line Loan, on the earlier of (A) the date such Swing Line Loan shall be or become due and payable, in whole or in part, in accordance with the terms of this Agreement whether by stated maturity, required or optional prepayment, declaration, acceleration, or otherwise, or (B) the Swing Line Commitment Termination Date and (iii) with respect to any Term Loan made by a Bank to replace its existing Revolving Credit Loans pursuant to Section 2.1(b) hereof, the earlier of (A) the first anniversary of the Term Out Date applicable to such replaced Revolving Credit Loans and (B) any other date on which such Term Loan shall be or become due and payable, in whole or in part, in accordance with the terms of this Agreement, whether by required or optional prepayment, declaration, acceleration, or otherwise.

Appears in 1 contract

Sources: Loan Agreement (Medallion Financial Corp)

Date and Maturity of Each Note. Each Note shall, except as ------------------------------ otherwise provided in Sections Section 12.1 or 12.2 hereof, be dated (A) the Second Restatement Effective Date, Date in the case of each the Revolving Credit Note Notes and the Swing Line Note Notes and (B) the applicable Term Term-Out Date, in the case of each Term Note issued in replacement of a Revolving Credit LoanNote, and shall be payable at its Maturity. For purposes of this Agreement, the term "Maturity" shall mean, with respect to (i) any Revolving Credit Loan, the earlier earliest of (A) the Term Term-Out Date for such Revolving Credit Loan, (B) the Termination Date and (C) any other date on which such Revolving Credit Loan shall be or become due and payable, in whole or in part, payable in accordance with the terms of this Agreement, whether by required or optional prepayment, declaration, acceleration, or otherwise, (ii) with respect to any Swing Line Loan, on the earlier of (A) the date such Swing Line Loan shall be or become due and payable, in whole or in part, in accordance with the terms of this Agreement whether by stated maturity, required or optional prepayment, declaration, acceleration, or otherwise, or and (B) the Swing Line Commitment Termination Date and (iii) with respect to any Term Loan made by a Bank to replace its existing Revolving Credit Loans pursuant to Section 2.1(b2.1 (b) hereof, the earlier of (A) the first anniversary of the Term Term-Out Date applicable to such replaced Revolving Credit Loans and (B) any other date on which such Term Loan shall be or become due and payable, in whole or in part, in accordance with the terms of this Agreement, whether by required or optional prepayment, declaration, acceleration, or otherwise.

Appears in 1 contract

Sources: Loan Agreement (Medallion Financial Corp)