Common use of Substitute Note Clause in Contracts

Substitute Note. Concurrently herewith, the Borrower shall execute and deliver to the Bank a third substitute revolving credit note (the "Substitute Note") which shall supersede, and be in substitution for, the second substitute revolving credit note dated as of May 27, 2000 (the "Prior Note") executed and delivered by the Borrower to the Bank. It is expressly agreed that the execution and delivery of such Substitute Note shall not evidence or represent a refinancing, repayment, accord and satisfaction or novation of the indebtedness evidenced by the Prior Note. As soon as practicable following its receipt of the Substitute Note, the Bank will return the Prior Note to the Borrower for cancellation.

Substitute Note. Concurrently herewith, the Borrower shall execute and deliver to the Bank a third second substitute revolving credit note (the "Substitute Note") which shall supersede, and be in substitution for, the second substitute revolving credit note dated as of May 27November 24, 2000 1997 (the "Prior Note") executed and delivered by the Borrower to the Bank. It is expressly agreed that the execution and delivery of such Substitute Note shall not evidence or represent a refinancing, repayment, accord and satisfaction or novation of the indebtedness evidenced by the Prior Note. As soon as practicable following its receipt of the Substitute Note, the Bank will return the Prior Note to the Borrower for cancellation.