Any Term B Loans recorded on the Register (the "Registered Term B Loans") may not be evidenced by a promissory note other than a Registered Term B Loan Note (as defined below).
Once recorded on the Register, the Obligations evidenced by such Registered Term B Loan Note may not be removed from the Register so long as it remains outstanding and a Registered Term B Loan Note may not be exchanged for a promissory note that is not a Registered Term B Loan Note.
Upon the registration of such Term B Loan, any promissory note (other than a Registered Term B Loan Note) evidencing the same shall be null and void and shall be returned to Lead Borrower.
Borrowers agree, at the request of Agent, to execute and deliver to Agent a promissory note in registered form reasonably acceptable to Agent to evidence such Term B Loans (that is, containing registered note language) and registered as provided in Section 13.7(c) of the Loan Agreement (a "Registered Term B Loan Note"), payable to the order of Agent, on behalf of the Term B Loan Lenders and otherwise duly completed.
Each Revolving Loan shall be, and each Term A Loan may be divided into tranches which are either a Base Rate Loan or a LIBOR Loan (each a type of Loan), as the Borrowers shall specify in the related notice of borrowing or conversion pursuant to Section 2.2.2 or 2.2.3. Each Term B Loan shall only bear interest as set forth in the Term B Loan Note.