Revolving Promissory Note (Alternate Version)

Summary

This precedent revolving promissory note for a credit agreement is used in a typical syndicated loan transaction. The promissory note evidences the revolving loan borrowings funded under the credit agreement. This precedent includes practical guidance, drafting notes and an optional clause. 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 obligations to repay that specific lender. Conform the capitalized terms to the defined terms in the relevant credit agreement. Related Content: For more information, see the practice note Finance Glossary. For more precedents, see Promissory Note (Term Note), Revolving Promissory Note, Revolving Promissory Note (Alternate Version), Convertible Promissory Note, Intercompany Promissory Note (Credit Agreement), and Promissory Note (Equal Payments Fixed Rate). For a sample term promissory note for use in a credit agreement, see the ...