Common use of Exchange Agreements Clause in Contracts

Exchange Agreements. On November 16, 2010, the Company entered into Exchange Agreements dated November 11, 2010 (together with all other agreements entered into in connection therewith, the “Trust Preferred Securities Exchange Agreements”) with Xxxxx & Company Financial Management, LLC, ATP Management LLC and each of Alesco Preferred Funding X, Ltd., Alesco Preferred Funding VI, Ltd., Alesco Preferred Funding XI, Ltd. and Alesco Preferred Funding XIV, Ltd. with respect to the exchange of all trust preferred securities issued by issuer trusts originated by the Company (the “Company TRuPS”) for promissory notes issued by the Company substantially in the forms attached to the Trust Preferred Securities Exchange Agreements (such exchanges to be collectively referred to herein as the “TRuPS Exchanges”). Following the closing of the transactions contemplated hereby, such promissory notes shall become due and payable for an aggregate amount equal to 20% of the aggregate amount of the face value of the Company TRuPS immediately prior to the completion of the TRuPS Exchanges (together with accrued interest as provided pursuant to the terms of such promissory notes) (the “Discounted TRuPS Amount”).

Exchange Agreements. On November 16, 2010, the Company entered into Exchange Agreements dated November 11, 2010 (together with all other agreements entered into in connection therewith, the “Trust Preferred Securities Exchange Agreements”) with Xxxxx Cxxxx & Company Financial Management, LLC, ATP Management LLC and each of Alesco Preferred Funding X, Ltd., Alesco Preferred Funding VI, Ltd., Alesco Preferred Funding XI, Ltd. and Alesco Preferred Funding XIV, Ltd. with respect to the exchange of all trust preferred securities issued by issuer trusts originated by the Company (the “Company TRuPS”) for promissory notes issued by the Company substantially in the forms attached to the Trust Preferred Securities Exchange Agreements (such exchanges to be collectively referred to herein as the “TRuPS Exchanges”). Following the closing of the transactions contemplated hereby, such promissory notes shall become due and payable for an aggregate amount equal to 20% of the aggregate amount of the face value of the Company TRuPS immediately prior to the completion of the TRuPS Exchanges (together with accrued interest as provided pursuant to the terms of such promissory notes) (the “Discounted TRuPS Amount”).