Common use of Initial Notes Clause in Contracts

Initial Notes. To further evidence its obligation to repay the IDB Invest Loan, and to pay accrued interest, the Borrower shall issue and deliver to IDB Invest, on or prior to the first Disbursement Date (i) a partially completed promissory note with the principal amount blank and (ii) an instruction letter, each in form and substance acceptable to IDB Invest (collectively, the ” Notes”). At IDB Invest’s request from time to time, the Borrower shall promptly execute and deliver one or more new Notes satisfactory to IDB Invest to substitute for one or more Notes previously delivered hereunder. Upon the receipt of such executed replacement Notes, IDB Invest shall promptly return to the Borrower the original Notes so replaced or an affidavit of loss or destruction in customary form. The issuance, execution and delivery of any Note pursuant to this Agreement shall not be construed as a novation hereunder or under any other agreement between IDB Invest and the Borrower and shall not affect the obligations or rights of the Borrower hereunder, and the rights and claims of IDB Invest under any Note shall not replace or supersede its rights and claims hereunder.

Initial Notes. To further evidence its obligation to repay the IDB Invest BlaO Loan, and to pay accrued interest, the Borrower shall issue and deliver to IDB InvestBlaO, on or prior to the first Disbursement Date (i) a partially completed promissory note with the principal amount blank and (ii) an instruction letter, each in form and substance acceptable to IDB Invest BlaO (collectively, the ” “Notes”). At IDB InvestBlaO’s request from time to time, the Borrower shall promptly execute and deliver one or more new Notes satisfactory to IDB Invest BlaO to substitute for one or more Notes previously delivered hereunder. Upon the receipt of such executed replacement Notes, IDB Invest XxxX shall promptly return to the Borrower the original Notes so replaced or an affidavit of loss or destruction in customary form. The issuance, execution and delivery of any Note pursuant to this Agreement shall not be construed as a novation hereunder or under any other agreement between IDB Invest BlaO and the Borrower and shall not affect the obligations or rights of the Borrower hereunder, and the rights and claims of IDB Invest BlaO under any Note shall not replace or supersede its rights and claims hereunder.