Individual Notes Sample Clauses
Individual Notes. (1) If at any time the Depositary for a Global Security notifies the Company that it is unwilling or unable to continue as Depositary for such Global Security or if at any time the Depositary for the Notes ceases to be a clearing agency registered under the Exchange Act or other applicable statute or regulation, the Company shall appoint a successor Depositary with respect to such Global Security. If a successor Depositary for such Global Security is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such ineligibility, the Company shall execute, and the Trustee or the Authenticating Agent, upon receipt of a written request by the Company for the authentication and delivery of individual Notes in exchange for such Global Security, shall authenticate and deliver, individual Notes in definitive form in an aggregate Principal Amount equal to the Principal Amount of the Global Security in exchange for such Global Security.
(2) The Company may at any time and in its sole discretion determine that the Notes or portions thereof issued or issuable in the form of one or more Global Securities shall no longer be represented by such Global Security or Securities. In such event, the Company shall execute, and the Trustee or the Authenticating Agent, upon receipt of a written request by the Company for the authentication and delivery of individual Notes in exchange in whole or in part for such Global Security, shall authenticate and deliver individual Notes in definitive form in an aggregate Principal Amount equal to the Principal Amount of such Global Security or Securities representing such series or portion thereof in exchange for such Global Security or Securities.
(3) If specified by the Company with respect to Notes issued or issuable in the form of a Global Security, the Depositary for such Global Security may surrender such Global Security in exchange in whole or in part for individual Notes in definitive form on such terms as are acceptable to the Company and such Depositary. Thereupon the Company shall execute, and the Trustee or the Authenticating Agent shall authenticate and deliver, without service-charge, (a) to each Person specified by such Depositary a new Note or Notes of any authorized denomination as requested by such Person in an aggregate Principal Amount equal to and in exchange for such Person’s beneficial interest in the Global Security; and (b) to such Depositary a new Global Security in an au...
Individual Notes. Each Non-Revolving Loan under the Line of Credit shall be represented by a separate Note for each Project. A maximum of three Notes shall be delivered under the Line of Credit. The principal amount of any one Note shall not exceed the lesser of: (i) $10,000,000; (ii) 85% of the cost of the Project to be constructed with the Non-Revolving Loan under the Note; (iii) 75% of the stabilized appraised value of such Project; and (iv) the Total Commitment minus the aggregate amount of Notes ----- then issued under the Line of Credit (regardless of the amount advanced thereunder). The Termination Date of the Line of Credit shall have no effect on the Maturity Date of each of the Notes.
Individual Notes. 2.3.1 The obligation of Borrower to repay an Individual Loan shall be evidenced by an Individual Note executed by Borrower, payable to the order of Lender, in the principal amount of the corresponding Individual Loan and dated on the date of the initial Advance of such Individual Loan.
2.3.2 Each Individual Note shall be substantially in the form of Exhibit “A”.
2.3.3 The maturity date of each Individual Note shall be the same as the maturity date of the Borrower’s Note that secures such Individual Note, subject to any extension rights in favor of the Underlying Borrower under the terms of a Borrower’s Note and the other underlying loan documents as in effect on the date of the Advance.
2.3.4 The interest rate spread over LIBOR for each Individual Loan, which will be between 250 and 400 basis points, will be determined by Lender in its sole discretion.
2.3.5 Principal and interest payments on an Individual Loan will be made on the tenth (10th) day of each calendar month. The amount of such payments will be more specifically described in the Individual Note evidencing such Individual Loan.
2.3.6 Principal payments under each Individual Note will be determined by multiplying the advance rate for such Individual Note (determined as described in Section 2.2.3 above) by the amount of principal then payable under the terms of the Borrower’s Note securing such Individual Note. Any prepayment of principal under the subject Borrower’s Note shall cause Borrower to make a prepayment under the corresponding Individual Note in an amount determined by the same calculation.
Individual Notes. If the Issuer is required to deliver Individual Note Certificates pursuant to the terms of the Global Note Certificates, the Issuer shall arrange for $[___] of Class A Individual Note Certificates, $[___] of Class B Individual Note Certificates and $[___] of Class C Individual Note Certificates to be made available to or to the order of the Registrar by the later of the expiry of 30 days after the date hereof and the date falling 25 days after the occurrence of the relevant event as set out in Clause 3.2 of the Trust Deed. Such Individual Note Certificates will be in registered form each in an Authorised Denomination. The Individual Note Certificates will be held to the Issuer's order pending delivery. The Issuer shall also arrange, on request, for such Individual Note Certificates as are required to enable the Registrar to perform its obligations under Clause 4 to be made available to or to the order of the Registrar from time to time.