The Company shall maintain a register which shall reflect the registration, transfer, conversion and exchanges of the Accentia Term Notes.
For purposes of clarity and by way of example, if prior to March 31, 2012, the Company were to receive Net Proceeds of $6,000,000, the Company would be required to prepay the Accentia Term Notes (in the aggregate) only in the amount of $300,000 ($6,000,000 less $5,000,000 multiplied by 30%).
The limitation set forth in this Section 24 shall in no event relate to the Guarantor’s obligations hereunder with respect to direct obligations of the Company to the Creditor Parties under the Accentia Security Agreement and the Accentia Term Notes.
Suite 350 Tampa FL 33606 Attn: President Re: Sale of Analytica and Agreement for Pre-payment of Accentia Term Notes Ladies and Gentlemen: Reference is made to (a) that certain Term Loan & Security Agreement dated as of November 17, 2010 (as amended, supplemented, restated or modified from time to time, the “Term Loan & Security Agreement”) by and between LV Administrative Services, Inc.
The remaining balance due under the Accentia Term Notes after the Note Pre-payment with a current maturity date of November 17, 2012 (including any accrued but unpaid interest) shall automatically become due and payable on November 17, 2013.