Common use of The New Notes Clause in Contracts

The New Notes. (a) Each new Note (herein in this Section 2.6 called a "New Note") issued pursuant to Section 2.5 in exchange for or in substitution or in lieu of an outstanding Note (herein in this Section 2.6 called an "Old Note") shall be dated the date of such Old Note. The Indenture Trustee shall mark xx each New Note (i) the date to which interest and principal have been paid on such Old Note, and (ii) all payments and prepayments of principal previously made on such Old Note which are allocable to such New Note. Interest shall be deemed to have been paid or earned, as the case may be, on such New Note to the date on which interest shall have been paid or earned, as the case may be, on such Old Note, and all payments and prepayments of principal marked on such New Note, as provided in clause (ii) above, shall be deemed to have been made thereon.

Appears in 2 contracts

Samples: Indenture of Trust and Security Agreement (National Healthcare Corp), Indenture of Trust and Security Agreement (National Health Realty Inc)

AutoNDA by SimpleDocs

The New Notes. (a) Each new Note (herein in this Section 2.6 2.7 called a "New Note") issued pursuant to Section 2.5 2.6(a), (b) or (d) in exchange for or in substitution or in lieu of an outstanding Note (herein in this Section 2.6 2.7 called an "Old Note") shall be dated the date of such Old Note. The Indenture Corporate Trustee shall mark xx each New Note (i1) the date to which principal and interest and principal have been paid on such Old Note, and (ii2) all payments and prepayments of principal previously made on such Old Note which are allocable to such New Note. Interest shall be deemed to have been paid or earned, as the case may be, on such New Note to the date on which interest shall have been paid or earned, as the case may be, on such Old Note, and all payments and prepayments of principal marked on such New Note, as provided in clause (ii2) above, shall be deemed to have been made thereon.

Appears in 1 contract

Samples: Kmart Corp

AutoNDA by SimpleDocs

The New Notes. (a) Each new Note (herein in this Section 2.6 2.8 called a "New Note") issued pursuant to Section 2.5 2.6(a) or (c) or Section 2.7 in exchange for or in substitution or in lieu of an outstanding Outstanding Note (herein in this Section 2.6 2.8 called an "Old Note") shall be dated the date of such Old Note and shall be of the same series as such Old Note. The Indenture Trustee shall mark xx xxxx on each New Note (i) the date to which principal and interest and principal have been paid on such Old Note, Note and (ii) all payments and prepayments of principal previously made on such Old Note which are allocable to such New Note. Interest shall be deemed to have been paid or earned, as the case may be, on such New Note to the date on which interest shall have been paid or earned, as the case may be, on such Old Note, and all payments and prepayments of principal marked on such New Note, as provided in clause (ii) above, shall be deemed to have been made thereon.

Appears in 1 contract

Samples: Trust Indenture and Security Agreement (Sabre Holdings Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.