Common use of The Note and Interest Clause in Contracts

The Note and Interest. The Revolving Credit Loan shall be evidenced by one (1) promissory note of the Borrower, payable to the order of the Bank in the principal amount of Thirty Million and NO/100 Dollars ($30,000,000.00). The entire principal amount of the Loan shall be due and payable on the Termination Date of Revolving Credit Loan. The unpaid principal balances of the Revolving Credit Loan shall bear interest from the Closing Date on disbursed and unpaid principal balances at a rate per annum described in the Note.

Appears in 1 contract

Sources: Loan Agreement (Miller Industries Inc /Tn/)

The Note and Interest. The Revolving Credit Loan shall be evidenced by one (1) promissory note the Revolving Credit Note of the Borrower, payable to the order of the Bank in the principal amount of Thirty Three Million Five Hundred Thousand and NO/100 Dollars No/100 dollars ($30,000,000.00). 3,500,000.00) The entire principal amount of the Loan loan (including outstanding commitments under letters of credit) shall be due and payable on the Termination Date of the Revolving Credit Loan. The unpaid principal balances of the Revolving Credit Loan Note shall bear interest from the Closing Date on disbursed and unpaid principal balances at a rate per annum described the rates specified in the Revolving Credit Note and shall be payable as provided in the Revolving Credit Note.

Appears in 1 contract

Sources: Loan Agreement (King Pharmaceuticals Inc)

The Note and Interest. The 1997 Revolving Credit Loan shall be evidenced by one (1) promissory note the Revolving Credit Note of the Borrower, payable to the order of the Bank in the principal amount of Thirty Eight Million Five Hundred Thousand and NO/100 Dollars No/100 dollars ($30,000,000.008,500,000.00). The entire principal amount of the Loan loan (including outstanding commitments under letters of credit) shall be due and payable on the Termination Date of the 1997 Revolving Credit Loan. The unpaid principal balances of the Revolving Credit Loan Note shall bear interest from the Closing Date on disbursed and unpaid principal balances at a rate per annum described the rates specified in the Revolving Credit Note and shall be payable as provided in the Revolving Credit Note.

Appears in 1 contract

Sources: Loan Agreement (King Pharmaceuticals Inc)