Common use of Assumption of Certain Notes Clause in Contracts

Assumption of Certain Notes. Marketing and each New Subsidiary shall have executed and delivered a Subsidiary Assumption Agreement (a "Subsidiary Assumption Agreement") substantially in the respective forms of Exhibits B and C hereto thereby becoming an obligor in respect of a portion of the First Mortgage Notes and the 11-1/8% Senior Notes due June 8, 2007 (all as more particularly described in Exhibits B and C). Southern Timber, L.L.C. shall have executed and delivered the Southern Timber Assumption Agreement substantially in the form of Exhibit D hereto thereby becoming an obligor in respect of a portion of the indebtedness of the Company (all as more particularly described in Exhibit D).

Assumption of Certain Notes. Marketing and each New Subsidiary shall have executed and delivered a Subsidiary Assumption Agreement (a "Subsidiary Assumption Agreement") substantially in the respective forms of Exhibits B and C hereto thereby becoming an obligor in respect of a portion of the First Mortgage Notes and the 11-Company's 11 1/8% Senior Notes due June 8, 2007 (all as more particularly described in Exhibits B and C). Southern Timber, L.L.C. shall have executed and delivered the Southern Timber Assumption Agreement substantially in the form of Exhibit D hereto thereby becoming an obligor in respect of a portion of the indebtedness of the Company (all as more particularly described in Exhibit D).

Assumption of Certain Notes. Marketing and each New Subsidiary shall have executed and delivered a Subsidiary Assumption Agreement (a "Subsidiary Assumption Agreement") Agreements substantially in the respective forms of Exhibits B and C hereto (the "Subsidiary Assumption Agreements") thereby becoming an obligor in respect of a portion of the First Mortgage Notes and the 11-1/8% Senior Notes due June 8, 2007 of the Partnership (all as more particularly described in Exhibits B and C). Southern Timber, L.L.C. shall have executed and delivered the Southern Timber Assumption Agreement substantially in the form of Exhibit D hereto thereby becoming an obligor in respect of a portion of the indebtedness of the Company Operating Partnership (all as more particularly described in Exhibit D).