Common use of Component Notes Clause in Contracts

Component Notes. At any time, but without increasing the liabilities of Borrower under the Loan Documents, upon request of Lender, Borrower shall issue one or more separate (or component) notes (the “Component Notes”) with revised interest rates and/or amortization schedules (if applicable) to replace the Note, the aggregate weighted average coupon rate of which shall, as of the issuance of the Component Notes, equal the initial interest rate on the Loan (adjusted to account for amortization, if applicable). Each Component Note may have a different interest rate and/or different amortization, if applicable. Borrower shall also be obligated to enter into such amendments to other Loan Documents as are necessary to reference the Component Notes. Notwithstanding the foregoing, Borrower shall only be required to issue such Component Notes as long as: (i) at and at all times after the issuance of such Component Notes, the aggregate weighted average coupon rate of the revised interest rates of the Component Notes equals the Regular Interest Rate as if the Note had never been replaced; (ii) there shall be no negative economic effect upon Borrower’s monthly debt service payments; and (iii) such replacement shall be at no cost and expense to Borrower (including that Lender shall reimburse Borrower for its reasonable attorneys’ fees in reviewing the Component Notes).

Component Notes. At any time, but without increasing the liabilities of Borrower under the Loan Documents, upon written request of Lender, Borrower shall issue one or more separate (or component) notes (the “"Component Notes”") with revised interest rates and/or amortization schedules (if applicable) to replace the Note, the aggregate weighted average coupon rate of which shall, as of the issuance of the Component Notes, equal the initial interest rate on the Loan (adjusted to account for amortization, if applicable). Each Component Note may have a different interest rate and/or different amortization, if applicable, but the aggregate of the interest and amortization for the Component Notes shall be the same as the Note. Borrower shall also be obligated to enter into such amendments to other Loan Documents as are necessary to reference the Component Notes. Notwithstanding the foregoing, Borrower shall only be required to issue such Component Notes as long as: (i) at and at all times after the issuance of such Component Notes, the aggregate weighted average coupon rate of the revised interest rates of the Component Notes equals the Regular Interest Rate aggregate weighted average coupon rate of the Loan as if the Note had never been replaced; (ii) there shall be no negative economic effect upon Borrower’s monthly 's debt service paymentspayments or change in the aggregate amount or time of payment thereof; and (iii) such replacement of the Note shall be at no cost and expense to Borrower (including that Lender shall reimburse Borrower for its reasonable attorneys’ ' fees in reviewing the Component Notes).