Multiple Draw Note Sample Contracts
MUTIPLE DRAW NOTE (Acquisition)Multiple Draw Note • March 21st, 2018 • Saker Aviation Services, Inc. • Airports, flying fields & airport terminal services • Pennsylvania
ON DEMAND as provided herein, and FOR VALUE RECEIVED, between SAKER AVIATION SERVICES, INC., a Nevada corporation (“Borrower”), with its principal place of business at 20 South Street, Pier 6 East River, New York, NY 10004, promises to pay to the order of KEYBANK NATIONAL ASSOCIATION, a national banking association (the “Lender”), at Lender’s office and place of business at 731 Chestnut Street, Emmaus PA 18049, the principal sum of Two Million Five Hundred Thousand and 00/100 Dollars ($2,500,000.00) (the “Acquisition Line of Credit”) or so much thereof as may be advanced and outstanding from time to time under the terms of this Multiple Draw Note (this “Note”) and that certain Loan Agreement between the Borrower and the Lender, dated as of the same date as this Note (the “Loan Agreement”), with interest on the unpaid principal balance of such advances at the “Interest Rate” (defined below). All covenants, representations, terms, and conditions contained in the Loan Agreement are incorp