Common use of The Note Clause in Contracts

The Note. (i) The Borrower’s obligation to pay the principal of and interest on all Revolving Loans advanced by the Lender pursuant to the Fundings shall be evidenced by a variable funding note of the Borrower in favor of the Lender (the “Note”) which shall: (1) be dated the Closing Date; (2) be in the stated principal amount equal to the Commitment; (3) bear interest as provided therein; (4) be payable to the order of the Lender; and (5) be substantially in the form of Exhibit G hereto, with blanks appropriately completed in conformity herewith. The Lender may, and is hereby authorized to, make a notation on the schedule attached to the Note of the date and the amount of the Fundings and the date and amount of the payment of principal thereon, and prior to any transfer of the Note, the Lender shall endorse the outstanding principal amount of the Note on the schedule attached thereto; provided, however, that failure to make such notation shall not adversely affect the Lender’s rights with respect to the Note. (ii) Although the Note shall be dated the Closing Date, interest in respect thereof shall be payable only for the periods during which amounts are outstanding thereunder. In addition, although the stated principal amount of the Note shall be equal to the Commitment, the Note shall be enforceable with respect to the Borrower’s obligation to pay the principal thereof only to the extent of the unpaid Aggregate Loan Amount at the time such enforcement shall be sought.

Appears in 6 contracts

Sources: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)

The Note. (i) The Borrower’s obligation to pay the principal of and interest on all Revolving Credit Loans advanced by the Lender pursuant to the Fundings shall be evidenced by a variable funding promissory note of the Borrower Borrowers in favor substantially the form of EXHIBIT A hereto (the "Note"), dated as of the Lender (the “Note”) which shall: (1) be dated the Closing Date; (2) be in the stated principal amount equal to the Commitment; (3) bear interest as provided therein; (4) Date and completed with appropriate insertions. The Note shall be payable to the order of the Lender in an amount equal to the Total Commitment, and representing the obligation of the Borrowers to pay the Lender such principal amount or, if less, the outstanding principal amount of all Loans made by the Lender; and (5) be substantially in the form of Exhibit G hereto, with blanks appropriately completed in conformity herewithplus interest accrued thereon, as set forth below. The Borrowers irrevocably authorize the Lender mayto make or cause to be made, and is hereby authorized toin connection with a Drawdown Date of any Loan or at the time of receipt of any payment of principal on the Note, make a an appropriate notation on the schedule attached to Lender's records reflecting the Note making of the date Loan or the receipt of such payment (as the case may be) and the amount of the Fundings and the date and amount of the payment of principal thereonmay, and prior to any transfer of the Note, endorse on the Lender shall endorse reverse side thereof the outstanding principal amount of the Note on the schedule attached thereto; provided, however, that failure to make such notation shall not adversely affect the Lender’s rights with respect to the Note. (ii) Although the Note shall be dated the Closing Date, interest in respect thereof shall be payable only for the periods during which amounts are Loans evidenced thereby. The outstanding thereunder. In addition, although the stated principal amount of the Note shall Loans set forth on the Lender's record shall, absent manifest error, be equal PRIMA FACIE evidence of the principal amount thereof owing and unpaid to the CommitmentLender, but the failure to record, or any error in so recording, any such amount shall not limit or otherwise affect the obligations of the Borrowers hereunder or under the Note shall be enforceable with respect to make payments of principal of or interest on the Borrower’s obligation to pay the principal thereof only to the extent of the unpaid Aggregate Loan Amount at the time such enforcement shall be soughtNote when due.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Geowaste Inc), Revolving Credit Agreement (Geowaste Inc)

The Note. (i) The Borrower’s obligation to pay the principal of and interest on all Revolving Loans amounts advanced by the Lender Lenders pursuant to the Fundings Funding shall be evidenced by a variable funding single promissory note of the Borrower in favor of the Lender (the “Note”) which shall: (1) be dated the Closing Date; (2) be in the stated principal amount equal to the CommitmentInitial Facility Limit (as reflected from time to time on the grid attached thereto); (3) bear interest as provided therein; (4) be payable to the order of the LenderDeal Agent for the account of the Lenders, and mature on the Commitment Termination Date; and (5) be substantially in the form of Exhibit G I hereto, with blanks appropriately completed in conformity herewith. The Lender mayDeal Agent shall, and is hereby authorized to, make a notation on the schedule attached to the Note of the date and the amount of the Fundings Funding and the date and amount of the payment of principal thereon, and prior to any transfer of the Note, the Lender Deal Agent shall endorse the outstanding principal amount of the Note on the schedule attached thereto; provided, however, that failure to make such notation shall not adversely affect the any Lender’s rights with respect to the Note. (ii) Although the Note shall be dated the Closing Date, interest in respect thereof shall be payable only for the periods during which amounts are outstanding thereunder. In addition, although the stated principal amount of the Note shall be equal to the CommitmentInitial Facility Limit, the Note shall be enforceable with respect to the Borrower’s obligation to pay the principal thereof only to the extent of the unpaid Aggregate Loan Amount principal amount of the Capital outstanding thereunder at the time such enforcement shall be sought.

Appears in 2 contracts

Sources: Loan and Security Agreement (Americredit Corp), Loan and Security Agreement (Americredit Corp)

The Note. (i) The Borrower’s Issuer's obligation to pay the principal of and interest on all Revolving Loans amounts advanced by the Lender Company or the Bank Investors pursuant to the Fundings any Funding shall be evidenced by a variable funding single note of the Borrower in favor of the Lender Issuer (the “Note”"NOTE") which shall: shall (1) be dated the Closing Date; (2) be in the stated principal amount equal to the CommitmentFacility Limit (as reflected from time to time on the grid attached thereto); (3) bear interest as provided therein; (4) be payable to the order of the Lender; Agent for the account of the Company or the Bank Investors and mature on June 30, 2006 and (5) be substantially in the form of Exhibit G heretoC to this Agreement, with blanks appropriately completed in conformity herewith. The Lender mayCompany shall, and is hereby authorized to, make a notation on the schedule attached to the Note of the date and the amount of the Fundings each Funding and the date and amount of the payment of principal thereon, and prior to any transfer of the Note, the Lender Company shall endorse the outstanding principal amount of the Note on the schedule attached thereto; providedPROVIDED, howeverHOWEVER, that failure to make such notation shall not adversely affect the Lender’s Company's rights with respect to the Note. (ii) Although the Note shall be dated the Closing Date, interest in respect thereof shall be payable only for the periods during which amounts are outstanding thereunder. In addition, although the stated principal amount of the Note shall be equal to the CommitmentFacility Limit, the Note shall be enforceable with respect to the Borrower’s Issuer's obligation to pay the principal thereof only to the extent of the unpaid Aggregate Loan Amount principal amount of the Fundings outstanding thereunder at the time such enforcement shall be sought.

Appears in 1 contract

Sources: Note Purchase Agreement (Credit Acceptance Corporation)

The Note. (i) The Borrower’s obligation to pay the principal of and interest on all Revolving Loans amounts advanced by the Lender pursuant to the Fundings shall be evidenced by a variable funding note of the Borrower in favor of the Lender (the “Note”) which shall: (1) be dated the Closing Effective Date; (2) be in the stated principal amount equal to the CommitmentCommitment amount for the Lender (as reflected from time to time on the grid attached thereto); (3) bear interest as provided therein; (4) be payable to the order of the Lender, and mature (whether or not there are funds available therefor at such time, pursuant to Section 2.7 or otherwise) on September 10, 2017 (the “Maturity Date”); and (5) be substantially in the form of Exhibit G I hereto, with blanks appropriately completed in conformity herewith. The Lender may, and is hereby authorized to, make a notation on the schedule attached to the Note of the date and the amount of the Fundings and the date and amount of the payment of principal thereon, and prior to any transfer of the Note, the Lender shall endorse the outstanding principal amount of the Note on the schedule attached thereto; provided, however, that failure to make such notation shall not adversely affect the Lender’s rights with respect to the Note. (ii) Although the Note shall be dated the Closing Effective Date, interest in respect thereof shall be payable only for the periods during which amounts are outstanding thereunder. In addition, although the stated principal amount of the Note shall be equal to the CommitmentCommitment amount of the Lender, the such Note shall be enforceable with respect to the Borrower’s obligation to pay the principal thereof only to the extent of the unpaid Aggregate Loan Amount principal amount of the Capital and Interest and all other amounts outstanding hereunder and thereunder at the time such enforcement shall be sought.

Appears in 1 contract

Sources: Loan and Security Agreement (Credit Acceptance Corp)

The Note. (i) The Borrower’s obligation to pay the principal of and interest on all Revolving Loans amounts advanced by byUpon the request of the Lender pursuant to the Fundings shall be evidenced by by, the Borrower shall prepare, execute and deliver to the Lender a variable funding note of the Borrower in favor of the Lender (the “Note”) which shall: (1) be dated the Closing Fifth Amendment No. 8 Effective Date; (2) be in the stated principal amount equal to the CommitmentCommitment amount for the Lender (as reflected from time to time on the grid attached thereto); (3) bear interest as provided therein; (4) be payable to the order of the Lender, and mature (whether or not there are funds available therefor at such time, pursuant to Section 2.7 or otherwise) on December 1627, 20252027 (the “Maturity Date”); and (5) be substantially in the form of Exhibit G I hereto, with blanks appropriately completed in conformity herewith. The Lender may, and is hereby authorized to, make a notation on the schedule attached to the Note of the date and the amount of the Fundings and the date and amount of the payment of principal thereon, and prior to any transfer of the Note, the Lender shall endorse the outstanding principal amount of the Note on the schedule attached thereto; provided, however, that failure to make such notation shall not adversely affect the Lender’s rights with respect to the Note. (ii) Although the Note shall be dated the Closing Amendment No. 8 Effective Date, interest in respect thereof shall be payable only for the periods during which amounts are outstanding thereunder. In addition, although the stated principal amount of the Note shall be equal to the CommitmentCommitment amount of the Lender, the such Note shall be enforceable with respect to the Borrower’s obligation to pay the principal thereof only to the extent of the unpaid Aggregate Loan Amount principal amount of the Capital and Interest and all other amounts outstanding hereunder and thereunder at the time such enforcement shall be sought.

Appears in 1 contract

Sources: Loan and Security Agreement (Credit Acceptance Corp)

The Note. (i) The Borrower’s 's obligation to pay the principal of and interest on all Revolving Loans amounts advanced by the Lender Lenders pursuant to the Fundings shall be evidenced by a single variable funding note of the Borrower in favor of the Lender (the "Note") which shall: (1) be dated the Closing Date; (2) be in the stated principal amount equal to the CommitmentFacility Limit (as reflected from time to time on the grid attached thereto); (3) bear interest as provided therein; (4) be payable to the order of the LenderDeal Agent for the account of the Lenders, and mature on September 30, 2006; and (5) be substantially in the form of Exhibit G I hereto, with blanks appropriately completed in conformity herewith. The Lender mayDeal Agent shall, and is hereby authorized to, make a notation on the schedule attached to the Note of the date and the amount of the Fundings and the date and amount of the payment of principal thereon, and prior to any transfer of the Note, the Lender Deal Agent shall endorse the outstanding principal amount of the Note on the schedule attached thereto; provided, however, that failure to make such notation shall not adversely affect the any Lender’s 's rights with respect to the Note. (ii) Although the Note shall be dated the Closing Date, interest in respect thereof shall be payable only for the periods during which amounts are outstanding thereunder. In addition, although the stated principal amount of the Note shall be equal to the CommitmentFacility Limit, the Note shall be enforceable with respect to the Borrower’s 's obligation to pay the principal thereof only to the extent of the unpaid Aggregate Loan Amount principal amount of the Capital outstanding thereunder at the time such enforcement shall be sought.

Appears in 1 contract

Sources: Loan and Security Agreement (Credit Acceptance Corporation)

The Note. (i) The Borrower’s obligation Upon the request of the Lender, the Borrower shall prepare, execute and deliver to pay the principal of and interest on all Revolving Loans advanced by the Lender pursuant to the Fundings shall be evidenced by a variable funding note of the Borrower in favor of the Lender (the “Note”) which shall: (1) be dated the Closing Amendment No. 810 Effective Date; (2) be in the stated principal amount equal to the CommitmentCommitment amount for the Lender (as reflected from time to time on the grid attached thereto); (3) bear interest as provided therein; (4) be payable to the order of the Lender, and mature (whether or not there are funds available therefor at such time, pursuant to Section 2.7 or otherwise) on December 27, 20272029 (the “Maturity Date”); and (5) be substantially in the form of Exhibit G I hereto, with blanks appropriately completed in conformity herewith. The Lender may, and is hereby authorized to, make a notation on the schedule attached to the Note of the date and the amount of the Fundings and the date and amount of the payment of principal thereon, and prior to any transfer of the Note, the Lender shall endorse the outstanding principal amount of the Note on the schedule attached thereto; provided, however, that failure to make such notation shall not adversely affect the Lender’s rights with respect to the Note. (ii) Although the Note shall be dated the Closing Amendment No. 810 Effective Date, interest in respect thereof shall be payable only for the periods during which amounts are outstanding thereunder. In addition, although the stated principal amount of the Note shall be equal to the CommitmentCommitment amount of the Lender, the such Note shall be enforceable with respect to the Borrower’s obligation to pay the principal thereof only to the extent of the unpaid Aggregate Loan Amount principal amount of the Capital and Interest and all other amounts outstanding hereunder and thereunder at the time such enforcement shall be sought.

Appears in 1 contract

Sources: Loan and Security Agreement (Credit Acceptance Corp)