Issuance Date: July 26, 2021 Maturity Date: June 30, 2022 Interest Rate: Variable, as described herein Outstanding Principal Amount: See Annex A Maximum Principal Amount: $5,000,000
Section 1 -- Promise To Pay. KENTUCKY STATE UNIVERSITY, a public body corporate and an educational institution and agency of the Commonwealth of Kentucky with a notice address of 400 East Main Street, Frankfort, Kentucky 40601 (hereinafter, together with any permitted successor or other obligor, referred to as the “Governmental Agency”) for value received and intending to be legally bound, hereby acknowledges itself indebted and promises to pay to the order of FIFTH THIRD BANK, NATIONAL ASSOCIATION, a federally chartered institution located at 250 West Main Street, Suite 100, Lexington, Kentucky 40507 for itself and as agent for any affiliate of Fifth Third Bancorp (together with its successors and assigns, the “Registered Owner”) the Outstanding Principal Amount set forth above, on the Maturity Date hereof, at the designated corporate office of the Registered Owner upon presentation and surrender of this Note, and to pay interest thereon from the Issuance Date as set forth herein.
Section 2 -- Principal Advances. The Registered Owner, at the request of the Governmental Agency, shall loan available amounts hereunder to the Governmental Agency such amounts as may from time to time be requested by the Governmental Agency provided that:
The acceptance by the Governmental Agency of the proceeds of each advance shall be deemed to constitute a representation and warranty by the Governmental Agency that the conditions in this Section 2, other than those that have been waived in writing by the Registered Owner, have been satisfied.