Subsequent Exchange Note Increase Sample Clauses
The "Subsequent Exchange Note Increase" clause allows for the principal amount of an exchange note to be increased after its initial issuance. In practice, this means that under certain conditions—such as additional investments, conversions, or triggering events—the outstanding balance of the note can be adjusted upward to reflect new amounts owed. This clause provides flexibility for both parties to accommodate future financial changes, ensuring that the note accurately represents the evolving obligations between the issuer and the holder.
Subsequent Exchange Note Increase. If the Initial Beneficiary so specifies, (A) the applicable Exchange Noteholder may (1) reflect the amount of such increase on the grid attached to such Closed-End Exchange Note or (2) if such Closed-End Exchange Note does not provide for the grid or other means of reflecting increases from time to time to the Exchange Note Balance thereof, deliver such Closed-End Exchange Note to the Closed-End Administrative Agent in exchange for a new Closed-End Exchange Note reflecting the Exchange Note Balance as so increased (and the Borrower shall issue, and the Closed-End Administrative Agent shall authenticate and deliver, such new Closed-End Exchange Note in accordance with the foregoing) and (B) in the case of an increase made in the manner set forth in the foregoing subclause (A)(1), the Closed-End Administrative Agent shall reflect the increase in the applicable Exchange Note Balance on the Exchange Note Register.
Subsequent Exchange Note Increase. In connection with any Initial Beneficiary Purchase or any Initial Beneficiary Advance, as an administrative convenience and as an alternative to the issuance of a Closed-End Exchange Note and amendment and restatement of the terms thereof pursuant to the related Exchange Note Supplement, in each case pursuant to subsection (e), above, the Initial Beneficiary may specify in the Initial Beneficiary Purchase Notice or the Initial Beneficiary Advance Notice, as applicable, that the outstanding Exchange Note Balance of any Outstanding Closed-End Exchange Note (as specified by the Initial Beneficiary) shall be increased in an amount equal to the Initial Beneficiary Purchase Price and/or the Initial Beneficiary Advance Amount, as applicable, (any such increase pursuant to this subsection (g), a “
Subsequent Exchange Note Increase. In connection with any Initial Beneficiary Purchase, as an administrative convenience and as an alternative to the issuance of a Closed-End Exchange Note and amendment and restatement of the terms thereof pursuant to the related Exchange Note Supplement, in each case pursuant to subsection (d), above, the Initial Beneficiary may specify in the Initial Beneficiary Purchase Notice that the outstanding Exchange Note Balance of any Outstanding Closed-End Exchange Note (as specified by the Initial Beneficiary) shall be increased in an amount equal to the Initial Beneficiary Purchase Price (any such increase pursuant to this subsection (e), a “Subsequent Exchange Note Increase”). If the Initial Beneficiary so specifies, (A) the applicable Exchange Noteholder may (1) reflect the amount of such increase on the grid attached to such Closed-End Exchange Note or (2) if such Closed-End Exchange Note does not provide for the grid or other means of reflecting increases from time to time to the Exchange Note Balance thereof, deliver such Closed-End Exchange Note to the Closed-End Administrative Agent in exchange for a new Closed-End Exchange Note reflecting the Exchange Note Balance as so increased (and the Borrower shall issue, and the Closed-End Administrative Agent shall authenticate and deliver, such new Closed-End Exchange Note in accordance with the foregoing) and (B) in the case of an increase made in the manner set forth in the foregoing subclause (A)