Reducing Revolving Line of Credit Note Sample Contracts
REDUCING REVOLVING LINE OF CREDIT NOTEReducing Revolving Line of Credit Note • July 1st, 2002 • Motorcar Parts & Accessories Inc • Miscellaneous electrical machinery, equipment & supplies • California
FOR VALUE RECEIVED, the undersigned MOTORCAR PARTS & ACCESSORIES, INC., a New York corporation ("Borrower"), promises to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank") at its office at 333 South Grand Avenue, Suite 940, Los Angeles, California, or at such other place as the holder hereof may designate, in lawful money of the United States of America and in immediately available funds, the principal sum of Twenty-Four Million Seven Hundred Fifty Thousand Dollars ($24,750,000.00), or so much thereof as may be advanced and be outstanding, with interest thereon, to be computed on each advance from the date of its disbursement as set forth herein.