Replaced Note definition
Examples of Replaced Note in a sentence
Such New Note evidences the same indebtedness, and is secured by the same Collateral as the Replaced Note.
All amounts previously borrowed and outstanding under the Replaced Note shall be deemed amounts borrowed and outstanding under this Note and the credit facility described below in this Note.
The Borrower hereby promises to pay with the first payment of interest on this Note all accrued and unpaid interest on the Replaced Note.
This Note is issued in exchange and replacement for the Replaced Note and shall not be deemed a novation or satisfaction of the Replaced Note, evidences the same indebtedness and liabilities evidenced by the Replaced Note, including all principal of, and accrued and unpaid interest on, the Replaced Note, and is entitled to no less collateral and other security with no lesser priority than the Replaced Note.
All mortgages, deeds of trust, security agreements, pledge agreements, assignments and other security documents and instruments securing the Replaced Note or the indebtedness evidenced thereby continue in full force and effect to secure this Note and all indebtedness evidenced hereby, except to the extent that any such document or instrument may have been wholly or partially released in a writing signed by Bank.
All interest accrued but unpaid on the Replaced Note shall be due and payable in full on the first interest payment date under this Note.
Any Note replaced pursuant to this Section is sometimes referred to herein as a "Replaced Note".
This Note is not intended to be, nor shall it be deemed to be, a repayment of the Replaced Note.
Any and all references to the Replaced Note in any agreement or document are hereby amended to refer to this Note.
This VFCC Structured Note evidences the same indebtedness and is secured by the same Collateral securing the Replaced Note and is not intended to constitute a novation in any manner.