Note Exchange. Notwithstanding any other provision of this Agreement nothing herein shall be construed as prohibiting any Note Issuer, from time to time, agreeing to the exchange of one type of Senior Note for another type of Senior Note or the refinancing of a Senior Note from the proceeds of the issuance of new Senior Notes in accordance with the provisions of the Note Documents and taking such action as is required to facilitate the same.
Note Exchange. 1.1 The Lender hereby exchanges the Loan Contract for the convertible promissory note (the “Note”) in the form attached hereto as Exhibit B in full and complete satisfaction of all obligations of the Subsidiary under the Loan Contract. The Lender waives the payment of any accrued but unpaid interest due under the Loan Contract. Following the execution of this Agreement, the Lender shall tender the original Loan Contract to the Corporation for cancellation. The failure, however, of the Lender to deliver the original Loan Contract to the Corporation shall not effect the cancellation of all obligations thereunder as set forth herein.
Note Exchange. In the event the Company’s Common Stock is listed on a national stock exchange while the Note is outstanding, the Purchaser, upon the request of the Company, agrees to exchange the Note for a series of “toothless” convertible preferred stock of the Company.
Note Exchange. (1) If a Note has been exchanged with the bank as security for this loan, then under section 6 if amounts are required to be calculated, such Note may be utilized and is not required to be returned.
Note Exchange. Promptly following the satisfaction or waiver of the closing conditions in Section 4(a), the parties shall effectuate the Note Exchange in the following manner: (i) the Company shall issue and deliver to the Trustee, and shall cause the Trustee to authenticate and deliver and hold as custodian for The Depository Trust Company, to be credited to the accounts of the Noteholders specified in the applicable Noteholder Letters, an aggregate Accreted Principal Amount of Exchange Notes equal to the aggregate Accreted Principal Amount of the Subject Notes exchanged hereunder and (ii) the Noteholders severally (and not jointly) shall deliver to the Company all of their respective Subject Notes (the “Exchanged 2018 Notes”) by causing their DTC participants to effect a deposit/withdrawal at custodian of the Exchanged 2018 Notes to the Trustee. The Exchange Notes issued pursuant to the Note Exchange shall accrete pursuant to the terms of the Exchange Indenture (as defined below), commencing on the closing date of the Note Exchange.
Note Exchange. This Note together with that certain Revolving Note dated the date hereof made by Xxxxxxxx in favor of Xxxxxx is being issued in replacement of that certain Second Amended Revolving Note, originally dated September 11, 1997 as amended by the First Amendment dated as of February 20, 2001, made by the Borrower in favor of Safeguard Scientifics, Inc., as assigned to the Lender (the “Original Note”). The indebtedness evidenced by the Original Note (the “Original Indebtedness”) is continuing indebtedness of the Borrower and all such outstanding Original Indebtedness is hereby transferred to, and deemed to be outstanding under, this Note, and the Original Note shall be deemed to have been cancelled as of the date of this Note.
Note Exchange. On the terms and subject to the conditions set forth herein, as of the date hereof, the Noteholder hereby agrees to waive any and all rights the Noteholder may have now, or may have had, to the Note in exchange for: (i) a Series A Note; and (ii) if applicable, the Series B Note pursuant to the Note Exchange.
Note Exchange. At the option of each Noteholder, in accordance with Section 14.2 of the Note Purchase Agreement, such Noteholder may request that its Note or Notes be exchanged for a replacement Note or Notes of the same Series in the form of Exhibit A or Exhibit B, respectively, reflecting the foregoing amendments to the Notes (the “Replacement Notes”). The Company agrees to promptly issue and deliver Replacement Notes to each Noteholder requesting the same in exchange for a like principal amount of the Notes now held by such Noteholder or its nominee. Noteholders may exercise the foregoing option by delivering the original existing Notes to Xxxxxxx and Xxxxxx LLP, as special counsel for the Noteholders, for delivery to the Company.
Note Exchange. Contemporaneously with the execution and delivery of this Agreement, the parties shall effectuate the Note Exchange in the following manner: (a) the Company shall issue and deliver to the Trustee, and shall cause the Trustee to authenticate and deliver and hold as custodian for The Depository Trust Company, to be credited to the accounts of the Noteholders specified in the applicable Noteholder Letters, an aggregate principal amount of 10% Exchange Notes equal to the aggregate principal amount of the Subject Notes exchanged hereunder multiplied by the Exchange Rate and (b) the Noteholders severally (and not jointly) shall deliver to the Company all of their respective Subject Notes (the “Exchanged 10% Notes”) by causing their DTC participants to effect a deposit/withdrawal at custodian of the Exchanged 10% Notes to the Trustee. In addition, the Company shall pay to each Noteholder an amount in cash, by wire transfer of immediately available funds, equal to (x) the accrued but unpaid interest on such Noteholder’s Exchanged 10% Notes for the period from October 15, 2012 to, but not including, November 14, 2012. The 10% Exchange Notes issued pursuant to the Note Exchange shall accrue interest from November 14, 2012.
Note Exchange. On the Filing Date (as defined in the Purchase Agreement), this Note shall automatically, and without any further action on the part of the Holder, be exchanged for shares of Series A Convertible Preferred Stock of Borrower (the "Preferred Shares") based on a ratio of $1.00 of Stated Value of Preferred Share for each $1.00 of then outstanding principal amount plus any accrued but unpaid interest thereon, pursuant to Section 3(a)(9) of the Securities Act.
