Revolving Promissory Note
(Credit Agreement)


Summary

This form is a revolving promissory note for a credit agreement in a typical syndicated loan transaction. The promissory note evidences the revolving loan borrowings funded under the credit agreement. This form includes practical guidance and drafting notes.Promissory notes are not necessary in syndicated loan transactions, but certain lenders prefer physical evidence of their loans as an acknowledgement by the borrower of its obligation to repay that specific lender. Conform the capitalized terms to the defined terms in the relevant credit agreement. Non-negotiable promissory notes that contains a full set of covenants are found in Promissory Note (Construction Loan) and Promissory Note (Acquisition Loan). You can find additional forms of notes issued in connection with credit agreement facilities at Swing Line Promissory Note (Credit Agreement), Term Loan Promissory Note (Credit Agreement), and Competitive Bid Loan Promissory Note (Credit Agreement). See also Security Interests ...