Prior Notes. Xxxxxxxx acknowledges and agrees that this Note, together with the other Notes, re-evidences existing indebtedness of certain Borrowers to Agent and this Note, together with the other Notes, is given in substitution of, and not as payment for, all prior notes evidencing such indebtedness and shall not be deemed a novation thereof.
Prior Notes. The Borrower agrees and acknowledges that the indebtedness of the Borrower evidenced by the Original Shaar Note and the Milford Note (together, the "Prior Notes") remains outstanding as of the date hereof, and this Convertible Secured Note: (a) is exchanged for and re-evidences the indebtedness evidenced by the Prior Notes; (b) is given in substitution for, and not in payment of the Prior Notes; and (c) is not intended to discharge or constitute a novation of the Prior Notes. [Signature Page Follows]
Prior Notes. Borrower acknowledges and agrees that this Note, ----------- together with Revolving and Term Facility Note A, re-evidences the indebtedness previously evidenced by the Line Note, the Term Note, the New Term Note and the Nobel Note and is given in substitution of, and not as payment for, the Line Note, the Term Note and the New Term Note and shall not be deemed a novation thereof.
Prior Notes. This Note amends, replaces, restates and relates back to the Promissory Collateral Note dated May 23, 2006 in the principal amount of $30,000,000.00 (“Prior Note”), and all sums outstanding under the Prior Note shall be deemed outstanding under this Note as of the date hereof and in the amounts set forth on the Bank’s records.
Prior Notes. The Prior Notes are hereby extinguished and replace by Term Note I, term Note II and the Revolving Note and Term Note I, Term Note II and the Revolving Note constitute the only indebtedness currently owed to Lender.
Prior Notes. Upon satisfaction of the Conditions of Effectiveness ----------- set forth in Section 3 hereof, the following Notes shall be marked "RENEWED AND REPLACED" by the Lenders and delivered to the Borrower:
Prior Notes. The Company shall not redeem those certain Secured Convertible Promissory Notes issued to the Purchasers on or about January 25, 2006 pursuant to Section 2.3 thereof other than pro rata with the other holders of the Company’s Secured Convertible Promissory Notes issued or about January 25, 2006.
Prior Notes. The Purchaser acknowledges that the amounts set forth on Attachment 1 to the Debenture represent all amounts owed by the Company to Purchaser as of the date hereof, including any accrued and unpaid interest.
Prior Notes. Concurrently with the execution of this Mortgage, Mortgagor, and other co-borrowers are executing and delivering, in exchange for the Prior Notes, a Consolidated, Amended and Restated Promissory Note of even date herewith (the “Note”), in favor of Mortgagee in the principal sum of $4,639,600. Such exchange of the Prior Notes shall not be deemed, under any circumstances, an extinguishment or cancellation of the indebtedness evidenced by the Prior Notes or the creation or substitution of new indebtedness, it being agreed that such Note shall merely be evidence of the indebtedness theretofore evidenced by the Prior Notes. All debts evidenced by the Prior Notes are combined and consolidated by the Note to constitute one joint indebtedness in the principal sum of $4,639,600 together with interest thereon. The manner and time for payment and the other terms and provisions of the Prior Notes are modified, amended, restated and supplanted in their entirety by the Note. Notwithstanding the fact that the maximum principal sum of the Note is $4,639,600, the maximum principal indebtedness secured by this Mortgage shall be limited as set forth in Section 10.4 hereof.
Prior Notes. Simultaneously with the satisfaction of the Conditions of Effectiveness set forth in Section 3 hereof, each Lender which was a party to the Credit Agreement prior to this Third Amendment (other than TCB) shall return its prior Revolving Loan Note to Administrative Lender marked "Renewed" or words of similar import.
