Common use of Optional Notes Clause in Contracts

Optional Notes. The Lender may request that the Loan be evidenced by up to two promissory notes. In such event, the Borrower shall prepare, execute and deliver to the Lender a promissory note payable to the Lender and in customary form reasonably acceptable to the Lender. Thereafter, the portion of the Loan evidenced by such promissory note(s) and interest thereon shall at all times (including after assignment pursuant to Section 17) be represented by promissory notes in such form payable to the payee(s) named therein. Upon satisfaction in full of the outstanding principal amount of the Loan, interest thereon and any other amounts due hereunder, the Lender will promptly return all promissory notes to the Borrower for cancellation.