Equipment Note Sample Clauses
An Equipment Note is a legal document that serves as evidence of a borrower's obligation to repay a loan specifically used to finance equipment. Typically, it outlines the terms of repayment, interest rates, and the equipment being financed, and may grant the lender a security interest in the equipment as collateral. This clause ensures that both parties have a clear record of the debt and the associated terms, thereby protecting the lender's interest and providing the borrower with defined repayment obligations.
Equipment Note. The Equipment Note to be delivered on the Closing Date shall have been duly authorized, executed and delivered to the Loan Participant by a duly authorized officer of the Owner Trustee and duly authenticated by the Indenture Trustee.
Equipment Note. The obligations of Borrower in respect of the Equipment Loans and any interest accrued thereon shall be evidenced by a Promissory Note executed and delivered to Bank on the date hereof, in the face amount of $5,000,000 ("Equipment Note"). Borrower hereby irrevocably authorizes Bank to make appropriate notations on any Schedule attached to the Equipment Note, which notations, if made, shall evidence the date of, the outstanding principal of, and payments on the Equipment Loans evidenced thereby. Bank's notations on any Schedule attached to the Equipment Note shall constitute rebuttable presumptive evidence of the principal amount of Equipment Loans outstanding, but any failure to record any information on any such Schedule shall not limit or affect the obligations of Borrower hereunder or under the Equipment Note to make payments of principal or interest on the Equipment Loans when due.
Equipment Note. Except as set forth in Sections 2.8(e), 2.8(f) and 2.8(g), the outstanding principal balance of the Equipment Note shall bear interest at the Term Floating Rate.
Equipment Note. The Equipment Loan shall be evidenced by Term Promissory Note in the face amount of $1,400,000.00 dated as of even date herewith (the “Equipment Note”) and shall be payable in accordance with the terms of the Equipment Note and this Agreement.
Equipment Note. Borrower shall have delivered to Agent an executed original of the Equipment Note in form attached hereto as Exhibit B;
Equipment Note. Exhibit A-2 attached to the Loan Agreement is deleted and in lieu thereof is substituted Exhibit A-2 attached to this Amendment.
Equipment Note. Each Equipment Loan shall be evidenced by a promissory note in the form attached hereto as Exhibit C (an "Equipment Note").
Equipment Note. Each Equipment Loan shall be evidenced by, and shall be payable in accordance with the terms and conditions of, a promissory note substantially in the form of Exhibit C hereto (as amended, renewed, restated, replaced, consolidated or otherwise modified from time to time, an “Equipment Note”).
Equipment Note. To evidence the Equipment Loan, Borrowers will issue, execute and deliver the Equipment Note dated as of the date of this Agreement in the principal amount of the Equipment Commitment.
Equipment Note. The Equipment Line of Credit Loans shall be evidenced by and payable with interest in accordance with the note of the Borrower in the form of attached EXHIBIT A-1, dated as of the date hereof (the "EQUIPMENT LINE NOTE"). The Working Capital Line Note and the Equipment Line Note are sometimes together referred to as the "BORROWER NOTES."