Common use of New Notes Clause in Contracts

New Notes. Upon its receipt of an assignment executed by the parties to such assignment, together with each Note, if any, subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of such notice, the Borrower, at its own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note to the order of such assignee in an amount equal to the amount assumed by such assignee pursuant to such assignment and, if the assigning Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 12 contracts

Samples: Unsecured Term Loan Agreement (Ramco Gershenson Properties Trust), Unsecured Term Loan Agreement (Ramco Gershenson Properties Trust), Unsecured Term Loan Agreement (Ramco Gershenson Properties Trust)

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New Notes. Upon its receipt of an assignment Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such noticeassignment from Agent, the Borrower, at its their own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note (if requested by the subject Lender) to the order of such assignee in an amount equal to the amount assumed by assigned to such assignee pursuant to such assignment Assignment and Acceptance Agreement and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 12 contracts

Samples: Term Loan Credit Agreement (Plymouth Industrial REIT, Inc.), Credit Agreement (Plymouth Industrial REIT, Inc.), Credit Agreement (Plymouth Industrial REIT, Inc.)

New Notes. Upon its receipt of an assignment Assignment and Acceptance executed by the parties to such assignment, together with each Note, if any, any Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank)Borrowers. Within five (5) Business Days after receipt of such notice, if requested by the Eligible Assignee, each Borrower, at its own expense, shall if requested execute and deliver to the Administrative Agent, in exchange for each surrendered Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assumed by such assignee Eligible Assignee pursuant to such assignment Assignment and Acceptance and, at the request of the Administrative Agent or the assigning Bank, if the assigning Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled cancelled and returned to the BorrowerBorrowers.

Appears in 9 contracts

Samples: Credit Agreement (Alliancebernstein L.P.), Credit Agreement (Alliancebernstein Holding L.P.), Revolving Credit Agreement (Alliancebernstein L.P.)

New Notes. Upon its receipt of an assignment Assignment and Assumption executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt written notice thereof to the Borrower and the Banks Lenders (other than the assigning BankLender). Within five (5) Business Days after receipt of such notice, the Borrower, at its own expense, (i) shall if requested execute and deliver to the Administrative Agent, in exchange for each surrendered Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assumed by such assignee Eligible Assignee pursuant to such assignment Assignment and Assumption and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunderhereunder and (ii) shall deliver an opinion from counsel to the Borrower in substantially the form delivered on the Closing Date pursuant to §10.6 as to such new Notes. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 7 contracts

Samples: Credit Agreement (Mack Cali Realty L P), Term Loan Agreement (Mack Cali Realty L P), Credit Agreement (Mack Cali Realty L P)

New Notes. Upon its receipt of an assignment Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such noticeassignment from Agent, the BorrowerBorrowers, at its their own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note (if requested by the subject Lender) to the order of such assignee in an amount equal to the amount assumed by assigned to such assignee pursuant to such assignment Assignment and Acceptance Agreement and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the BorrowerBorrowers.

Appears in 7 contracts

Samples: Credit Agreement (Bluerock Residential Growth REIT, Inc.), Credit Agreement (Independence Realty Trust, Inc), Credit Agreement (City Office REIT, Inc.)

New Notes. Upon its receipt of an assignment Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such noticeassignment from Agent, the BorrowerBorrowers, at its their own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note (if requested by the subject Lender) to the order of such assignee in an amount equal to the amount assumed by assigned to such assignee pursuant to such assignment Assignment and Acceptance Agreement and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the BorrowerBorrowers.

Appears in 7 contracts

Samples: Term Loan Agreement (Independence Realty Trust, Inc.), Term Loan Agreement (Independence Realty Trust, Inc.), Credit Agreement (Independence Realty Trust, Inc.)

New Notes. Upon its receipt of an assignment Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such noticeassignment from Agent, the Borrower, at its own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note (if requested by the subject Lender) to the order of such assignee in an amount equal to the amount assumed by assigned to such assignee pursuant to such assignment Assignment and Acceptance Agreement and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 6 contracts

Samples: Credit Agreement (City Office REIT, Inc.), Credit Agreement (City Office REIT, Inc.), Credit Agreement (Wheeler Real Estate Investment Trust, Inc.)

New Notes. Upon its receipt of an assignment Assignment and Acceptance executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower Borrowers and the Banks Lenders (other than the assigning BankLender). Within five (5) Business Days after receipt of such notice, the BorrowerBorrowers, at its their own expense, shall if requested execute and deliver to the Administrative Agent, in exchange for each surrendered Note, a new Note to the order of such assignee in an amount equal to the amount assumed by such assignee pursuant to such assignment Assignment and Acceptance and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance and shall otherwise be substantially in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 5 contracts

Samples: Loan Agreement (Dynamics Research Corp), Loan and Security Agreement (Dynamics Research Corp), Loan Agreement (Dynamics Research Corp)

New Notes. Upon its receipt of an assignment executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of such notice, the Borrower, at its own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note to the order of such assignee in an amount equal to the amount assumed by such assignee pursuant to such assignment andassignment, if and shall cause the assigning Bank has retained some portion of its obligations hereunder, a new Note Guarantor to deliver to the order of the assigning Bank Agent an acknowledgment in an amount equal form and substance satisfactory to the amount retained by it hereunderAgent to the effect that the Guaranty extends to and is applicable to each new Note. Such new Notes Note shall provide that they are replacements it is a replacement for the surrendered NotesNote, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered NotesNote, shall be dated the effective date of such assignment and shall otherwise be in substantially the form of the assigned NotesNote. The surrendered Notes Note shall be canceled and returned to the Borrower.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Meridian Industrial Trust Inc), Revolving Credit Agreement (Meridian Industrial Trust Inc), Revolving Credit Agreement (Meridian Industrial Trust Inc)

New Notes. Upon its receipt of an assignment Assignment and Acceptance executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks Lenders (other than the assigning BankLender). Within five (5) Business Days after receipt of such notice, the Borrower, at its own expense, shall if requested execute and deliver to the Administrative Agent, in exchange for each surrendered Note, a new Note to the order of such assignee in an amount equal to the amount assumed by such assignee Eligible Assignee pursuant to such assignment Assignment and Acceptance and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes Note(s) shall provide that they are replacements for the surrendered NotesNote(s), shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered NotesNote(s), shall be dated the effective date of such assignment Assignment and Acceptance and shall otherwise be substantially in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the BorrowerNote(s).

Appears in 2 contracts

Samples: Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Real Estate Corp)

New Notes. Upon its receipt of an assignment Assignment and Assumption executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, and (b) give prompt written notice thereof to the Borrower and the Banks Lenders (other than the assigning BankLender). Within five (5) Business Days after receipt of such notice, the Borrower, at its own expense, (i) shall if requested execute and deliver to the Administrative Agent, in exchange for each surrendered Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assumed by such assignee Eligible Assignee pursuant to such assignment Assignment and Assumption and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunderhereunder and (ii) shall deliver an opinion from counsel to the Borrower in substantially the form delivered on the Closing Date pursuant to Section 10.8 as to such new Notes. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Assumption and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Mack Cali Realty L P), Revolving Credit Agreement (Mack Cali Realty Corp)

New Notes. Upon its receipt of an assignment executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of such notice, the Borrower, at its own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note to the order of such assignee in an amount equal to the amount assumed by such assignee pursuant to such assignment and, if the assigning Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Foundation Capital Resources Inc), Bridge Loan Agreement (Windrose Medical Properties Trust)

New Notes. Upon its receipt of an assignment Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such noticeassignment from the Agent, the Borrower, at its own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note (if requested by the subject Lender) to the order of such assignee in an amount equal to the amount assumed by assigned to such assignee pursuant to such assignment Assignment and Acceptance Agreement and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 2 contracts

Samples: Term Loan Agreement (CoreSite Realty Corp), Term Loan Agreement (CoreSite Realty Corp)

New Notes. Upon its receipt of an assignment Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such noticeassignment from Agent, the Borrower, at its own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note (if requested by the subject Lender) to the order of such assignee in an amount equal to the amount assumed by assigned to such assignee pursuant to such assignment Assignment and Acceptance Agreement and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 2 contracts

Samples: Joinder Agreement (Independence Realty Trust, Inc.), And Consolidated Credit Agreement (Independence Realty Trust, Inc.)

New Notes. Upon its receipt of an assignment Assignment and Acceptance --------- executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Administrative Agent shall (a) record the information contained therein in the Register, (b) revise Schedule 1 to ---------- reflect appropriately such assignment and such Register notation, and (bc) give prompt notice thereof and distribute a copy of such revised Schedule 1 ---------- to the Borrower Borrowers and the Banks Lenders (other than than, if the assigning BankLender will no longer be a Lender, the assigning Lender). Within five (5) Business Days after receipt of such notice, the BorrowerBorrowers, at its their own expense, shall if requested execute and deliver to the Administrative Agent, in exchange for each surrendered Note, a new Note to the order of such assignee Eligible Assignee in an amount equal to the amount assumed by such assignee Eligible Assignee pursuant to such assignment Assignment and Acceptance and, if the assigning Bank Lender has retained some portion of its obligations hereunderhereunder evidenced by a Note, a new Note to the order of the assigning Bank Lender in an amount equal to the amount amounts retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled cancelled and returned to the BorrowerBorrowers.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Samsonite Holdings Inc)

New Notes. Upon its receipt of an assignment executed by the parties to such assignmentAssignment, together with each Note, if any, Note subject to such assignmentAssignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of such notice, the Borrower, at its own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note to the order of such assignee in an amount equal to the amount assumed by such assignee pursuant to such assignment Assignment and, if the assigning Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower. All requests for a new Note shall be made to the Agent or Agent's Special Counsel (with a copy of such request delivered to the Agent).

Appears in 1 contract

Samples: Revolving Credit Agreement (Crescent Real Estate Equities Co)

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New Notes. Upon its receipt of an assignment Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such noticeassignment from Agent, the BorrowerBorrowers, at its their own 110 expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note (if requested by the subject Lender) to the order of such assignee in an amount equal to the amount assumed by assigned to such assignee pursuant to such assignment Assignment and Acceptance Agreement and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the BorrowerBorrowers.

Appears in 1 contract

Samples: Credit Agreement (CoreSite Realty Corp)

New Notes. Upon its receipt of an assignment Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such noticeassignment from Agent, the BorrowerBorrowers, at its their own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note (if requested by the subject Lender) to the order of such assignee in an amount equal to the amount assumed by assigned to such assignee pursuant to such assignment Assignment and Acceptance Agreement and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.Borrowers. 115

Appears in 1 contract

Samples: Credit Agreement (Bluerock Residential Growth REIT, Inc.)

New Notes. Upon its receipt of an assignment executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks Lenders (other than the assigning BankLender). Within five (5) Business Days after receipt of such notice, the Borrower, at its own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note to the order of such assignee in an amount equal to the amount assumed by such assignee pursuant to such assignment and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Wellsford Real Properties Inc)

New Notes. Upon its receipt of an assignment Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such noticeassignment from the Agent, the Borrower, at its own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note (if requested by the subject Lender) to the order of such assignee in an amount equal to the amount assumed by assigned to such assignee pursuant to such assignment Assignment and Acceptance Agreement and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 1 contract

Samples: Credit Agreement (City Office REIT, Inc.)

New Notes. Upon its receipt of an assignment executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower Borrowers and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of such notice, the BorrowerBorrowers, at its their own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note to the order of such assignee in an amount equal to the amount assumed by such assignee pursuant to such assignment and, if the assigning Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (Meruelo Richard)

New Notes. Upon its receipt of an assignment Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such noticeassignment from Agent, the BorrowerBorrowers, at its their own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new 108 Note (if requested by the subject Lender) to the order of such assignee in an amount equal to the amount assumed by assigned to such assignee pursuant to such assignment Assignment and Acceptance Agreement and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the BorrowerBorrowers.

Appears in 1 contract

Samples: Credit Agreement (CoreSite Realty Corp)

New Notes. Upon its receipt of an assignment executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of such notice, the Borrower, at its own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note to the order of such assignee in an amount equal to the amount assumed by such assignee pursuant to such assignment and, if the assigning Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Excel Legacy Corp)

New Notes. Upon its receipt of an assignment Assignment and Acceptance Agreement executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of notice of such noticeassignment from the Agent, the BorrowerBorrowers, at its their own expense, shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note (if requested by the subject Lender) to the order of such assignee in an amount equal to the amount assumed by assigned to such assignee pursuant to such assignment Assignment and Acceptance Agreement and, if the assigning Bank Lender has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank Lender in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment Assignment and Acceptance Agreement and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the BorrowerBorrowers.

Appears in 1 contract

Samples: Term Loan Agreement (CoreSite Realty Corp)

New Notes. Upon its receipt of an assignment executed by the parties to such assignment, together with each Note, if any, Note subject to such assignment, the Agent shall (a) record the information contained therein in the Register, and (b) give prompt notice thereof to the Borrower and the Banks (other than the assigning Bank). Within five (5) Business Days after receipt of such notice, the Borrower, at its own expense, Borrower shall if requested execute and deliver to the Agent, in exchange for each surrendered Note, a new Note to the order of such assignee in an amount equal to the amount assumed by such assignee pursuant to such assignment and, if the assigning Bank has retained some portion of its obligations hereunder, a new Note to the order of the assigning Bank in an amount equal to the amount retained by it hereunder. Such new Notes shall provide that they are replacements for the surrendered Notes, shall be in an aggregate principal amount equal to the aggregate principal amount of the surrendered Notes, shall be dated the effective date of such assignment and shall otherwise be in substantially the form of the assigned Notes. The surrendered Notes shall be canceled and returned to the Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (American Church Mortgage Co)

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