Note Exchange. Notwithstanding any other provision of this Agreement nothing herein shall be construed as prohibiting any Note Issuer, from time to time, agreeing to the exchange of one type of Senior Note for another type of Senior Note or the refinancing of a Senior Note from the proceeds of the issuance of new Senior Notes in accordance with the provisions of the Note Documents and taking such action as is required to facilitate the same.
Note Exchange. Subject to the terms and conditions of this Agreement, upon the execution of this Agreement, the parties shall, pursuant to Section 3(a)(9) of the Securities Act, effectuate the Note Exchange in the following manner: (a) each of the Noteholders shall severally, and not jointly, deliver to the Company the Notes elected for exchange, and (b) the Company shall issue and deliver to the Noteholders, duly issued certificates representing the Shares and Warrants, in the respective amounts set forth on the signature pages attached hereto. The parties acknowledge and agree that the Shares and the Warrant shall be issued to the Noteholder in exchange for the Note without the payment of any additional consideration.
Note Exchange. 1.1 The Lender hereby exchanges the Loan Contract for the convertible promissory note (the “Note”) in the form attached hereto as Exhibit B in full and complete satisfaction of all obligations of the Subsidiary under the Loan Contract. The Lender waives the payment of any accrued but unpaid interest due under the Loan Contract. Following the execution of this Agreement, the Lender shall tender the original Loan Contract to the Corporation for cancellation. The failure, however, of the Lender to deliver the original Loan Contract to the Corporation shall not effect the cancellation of all obligations thereunder as set forth herein.
Note Exchange. (1) If a Note has been exchanged with the bank as security for this loan, then under section 6 if amounts are required to be calculated, such Note may be utilized and is not required to be returned.
Note Exchange. In the event the Company’s Common Stock is listed on a national stock exchange while the Note is outstanding, the Purchaser, upon the request of the Company, agrees to exchange the Note for a series of “toothless” convertible preferred stock of the Company.
Note Exchange. Promptly following the satisfaction or waiver of the closing conditions in Section 4(a), the parties shall effectuate the Note Exchange in the following manner: (i) the Company shall issue and deliver to the Trustee, and shall cause the Trustee to authenticate and deliver and hold as custodian for The Depository Trust Company, to be credited to the accounts of the Noteholder specified in the applicable Noteholder Letter, an aggregate Accreted Principal Amount of Exchange Notes equal to the aggregate Accreted Principal Amount of the Subject Notes exchanged hereunder and (ii) the Noteholder shall deliver to the Company all of its Subject Notes (the “Exchanged 2018 Notes”) by causing its DTC participant to effect a deposit/withdrawal at custodian of the Exchanged 2018 Notes to the Trustee. The Exchange Notes issued pursuant to the Note Exchange shall accrete pursuant to the terms of the Exchange Indenture (as defined below), commencing on the closing date of the Note Exchange.
Note Exchange. This Note together with that certain Demand Note dated the date hereof made by the Borrower in favor of the Lender is being issued in replacement of that certain Second Amended Revolving Note, originally dated September 11, 1997 as amended by the First Amendment dated as of February 20, 2001, made by the Borrower in favor of Safeguard Scientifics, Inc., as assigned to Lender (the “Original Note”). The indebtedness evidenced by the Original Note (the “Original Indebtedness”) is continuing indebtedness of the Borrower and all such outstanding Original Indebtedness is hereby transferred to, and deemed to be outstanding under, this Note, and the Original Note shall be deemed to have been cancelled as of the date of this Note.
Note Exchange. Subject to the fulfillment of each of the conditions set forth in Clause 5.1 on or before the Long Stop Date (any or all of such conditions may be waived in writing by the New Investor at its sole discretion), the Initial Investor and the New Investor agree with the Company that at Closing:
Note Exchange. Immediately before the Effective Time, Equus shall ------------- surrender and deliver the Equus Notes to PEI, and in renewal, extension and rearrangement of the Equus Notes, PEI shall issue and deliver to Equus:
Note Exchange. 1.1 In consideration of and in express reliance upon the representations, warranties, covenants, terms and conditions of this Agreement, Investor agrees to surrender, terminate and exchange the Note for that number of Units equal to the product obtained in accordance with the following calculation: Number of Units = Outstanding Balance x 1.25/the Unit Purchase Price
