Common use of Secured Promissory Note Clause in Contracts

Secured Promissory Note. The due and punctual payment in full (and not merely the collectibility) of all principal (including any amounts advanced after the date hereof) and interest under the Secured Promissory Note dated January 7, 2002 made by the Debtor in favor of the Secured Party, as payee (the "Note"), in each case when due and payable, according to the terms of the Note, whether at maturity, by acceleration or otherwise, and regardless of the extent allowed as a claim in any proceeding in respect of the bankruptcy, reorganization or insolvency of the Debtor (a "Reorganization"); and (ii) the due and punctual payment in full (and not merely the collectibility) of all other sums and charges which may at any time be due and payable in accordance with or under the terms of the Note, regardless of the extent allowed as a claim in any Reorganization.