Revolving Note Clause Samples
A Revolving Note is a financial instrument that allows the borrower to draw, repay, and re-borrow funds up to a specified credit limit during a set period. In practice, this clause outlines the terms under which the borrower can access funds multiple times, similar to a line of credit, and details the repayment schedule, interest calculation, and any conditions for additional advances. Its core function is to provide flexible access to capital, enabling the borrower to manage cash flow needs efficiently while giving the lender clear parameters for lending and repayment.
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Revolving Note. An original Revolving Note duly executed by Borrower;
Revolving Note. A Revolving Note duly executed by the Borrower, in the form prepared by and acceptable to the Bank.
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 Note. Company’s obligation to repay Line of Credit Advances, regardless of how initiated under Section 1.3, shall be evidenced by a revolving promissory note (as renewed, amended or replaced from time to time, the “Revolving Note”).
Revolving Note. Except as set forth in Sections 2.8(e), 2.8(f) and 2.8(g), the outstanding principal balance of the Revolving Note shall bear interest at the Revolving Floating Rate.
Revolving Note. The Revolving Loans and the Letter of Credit Obligations shall be evidenced by the Revolving Note. At the time of the initial disbursement of a Revolving Loan and at each time any additional Revolving Loan shall be requested hereunder 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 manifest error, conclusive and binding evidence of (i) the principal amount of the Revolving Loans advanced hereunder and the amount of all Letter of Credit Obligations, (ii) any accrued and unpaid interest owing on the Revolving Loans, and (iii) all amounts repaid on the Revolving Loans or the Letter of Credit Obligations. The failure to record any such amount or any error in recording such amounts shall not, however, limit or otherwise affect the obligations of the Borrower under the Revolving Note to repay the principal amount of the Revolving Loans, together with all interest accruing thereon.
Revolving Note. The interest rate, principal and interest payments, maturity date and certain other terms of the Revolving Loan will be contained in a promissory note dated the date of this agreement, as such may be amended or replaced from time to time.
Revolving Note. An original Revolving Note, duly executed by Borrower and consented and agreed to by the Guarantors;
Revolving Note. Except as set forth in Sections 2.2(c) and 2.2(e), the outstanding principal balance of the Revolving Note shall bear interest at the Revolving Floating Rate.
Revolving Note. A Revolving Note duly executed by the Borrower, in the form attached hereto as Exhibit "A".