Absent the occurrence of any Event of Default, one half of the interest accruing at this rate shall accrue, but not be payable, until maturity of the Term C Loan and Term C Note (whether pursuant to acceleration or otherwise) and the other half shall be due and payable in cash on a quarterly basis on the last Business Day of each March, June, September and December.
Except as provided in the Credit Agreement, this Term C Note may not be assigned by Lender to any Person.
If any payment on this Term C Note becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day (except as otherwise provided in the Credit Agreement) and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension.
Exhibit 2.11(a) to the Agreement is hereby appended with the form of Term C Note set forth on the Exhibit 2.11(a) attached hereto.
On the Restatement Date, Borrower shall execute and deliver to Lender one or more promissory notes, each evidencing Borrowers unconditional obligation to repay Lender for the Term C Loans, in form and substance acceptable to Lender (as each may be amended, modified, increased, restated or replaced from time to time, collectively, the Term C Note), each payable to the order of Lender in accordance with the terms thereof.