Common use of Existing Note Clause in Contracts

Existing Note. Effective as of the date hereof, this Note amends and replaces in its entirety and restates that certain Unsecured Subordinated Note dated January 12, 2011, in the principal amount of $15,000,000 and made by the Maker to the order of the Purchaser (the “Existing Note”). The terms and conditions of this Note supersede, effective as of the date hereof, the terms and conditions of the Existing Note, provided, however, that the obligations incurred under the Existing Note shall continue under this Term Note and shall not in any circumstance be terminated, extinguished or discharged hereby but shall hereafter be governed by the terms of this Note.