Common use of Exchange of Notes Clause in Contracts

Exchange of Notes. Upon surrender of any Note at the office of the Company maintained pursuant to Section 7.3 hereof duly endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder's attorney duly authorized in writing, the Company shall execute and deliver, at the Company's expense (except as provided below), new Notes in exchange therefor, in denominations of at least Fifty Thousand Dollars ($50,000) (except as may be necessary to reflect any principal amount not evenly divisible by Fifty Thousand Dollars ($50,000)), in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit A hereto. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such transfer of Notes.

Exchange of Notes. Upon surrender of any Note at the office of the Company maintained pursuant to Section 7.3 6.3 hereof duly endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder's attorney duly authorized in writing, the Company shall will execute and deliver, at the Company's expense (except as provided below), new Notes in exchange therefor, in denominations of at least Fifty Thousand Dollars ($50,000) (except as may be necessary to reflect any principal amount not evenly divisible by Fifty Thousand Dollars ($50,000)), in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit A hereto. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations of less than Two Hundred Thousand Dollars ($200,000) provided that a holder of Notes may transfer its entire holding of Notes regardless of the principal amount of such holder's Notes.

Exchange of Notes. Upon surrender of any Note at the office of the Company maintained pursuant to Section 7.3 hereof 6.4, duly endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder's attorney duly authorized in writing, the Company shall will execute and deliver, at the Company's expense (except as provided belowin Section 5.2(b)), a new Note or Notes in exchange therefor, in denominations of at least Fifty Thousand Dollars ($50,000) (except as may be necessary to reflect any principal amount not evenly divisible by Fifty Thousand Dollars ($50,000)), in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit A hereto. A. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company Each such new Note shall carry the same rights to unpaid interest and interest to accrue that were carried by the Note so exchanged or transferred. Notes shall not be transferred in denominations of less than One Million Dollars ($1,000,000), provided that a holder of Notes may require payment transfer its entire holding of a sum sufficient to cover any stamp tax or governmental charge imposed in respect Notes regardless of any the principal amount of such transfer of holder's Notes.

Exchange of Notes. Upon surrender of any Note at the office of the Company maintained pursuant to Section 7.3 hereof 3.3, duly endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder's attorney duly authorized in writing, the Company shall will execute and deliver, at the Company's expense (except as provided belowin Section 2.2(b)), a new Note or Notes in exchange therefor, in denominations of at least Fifty Thousand Dollars ($50,000) (except as may be necessary to reflect any principal amount not evenly divisible by Fifty Thousand Dollars ($50,000)), in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to registered in the name of such Person as such holder may request and shall be substantially in the form of Exhibit A hereto. Attachment A. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company Each such new Note shall carry the same rights to unpaid interest and interest to accrue that were carried by the Note so exchanged or transferred. Notes shall not be transferred in denominations of less than One Million Dollars ($1,000,000), provided that a holder of Notes may require payment transfer its entire holding of a sum sufficient to cover any stamp tax or governmental charge imposed in respect Notes regardless of any the principal amount of such transfer of holder's Notes.

Exchange of Notes. Upon surrender of any Note at the office of the Company Registrar maintained pursuant to Section 7.3 hereof 3.3, duly endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder's attorney duly authorized in writing, the Company shall will execute and cause the Registrar to deliver, at the Company's expense (except as provided belowin Section 2.2(b)), a new Note or Notes in exchange therefor, in denominations of at least Fifty Thousand Dollars ($50,000) (except as may be necessary to reflect any principal amount not evenly divisible by Fifty Thousand Dollars ($50,000)), in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to registered in the name of such Person as such holder may request and shall be substantially in the form of Exhibit A hereto. Attachment A. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company Each such new Note shall carry the same rights to unpaid interest and interest to accrue that were carried by the Note so exchanged or transferred. Notes shall not be transferred in denominations of less than One Hundred Thousand Dollars ($100,000), PROVIDED that a holder of Notes may require payment transfer its entire holding of a sum sufficient to cover any stamp tax or governmental charge imposed in respect Notes regardless of any the principal amount of such transfer of holder's Notes.

Exchange of Notes. Upon surrender of any Note at the office of the Company maintained pursuant to Section 7.3 hereof 3.12, duly endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder's attorney duly authorized in writing, the Company shall will execute and deliver, at the Company's expense (except as provided belowin Section 2.2(b)), a new Note or Notes in exchange therefor, in denominations of at least Fifty Thousand Dollars ($50,000) (except as may be necessary to reflect any principal amount not evenly divisible by Fifty Thousand Dollars ($50,000)), in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to registered in the name of such Person as such holder may request and shall be substantially in the form of Exhibit A heretoAttachment A1 or Attachment A2, as the case may be with respect to such surrendered Note. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company Each such new Note shall carry the same rights to unpaid interest, interest to accrue and delivery of Warrants that were carried by the Note so exchanged or transferred. Notes shall not be transferred in denominations of less than $100,000, provided that a holder of Notes may require payment transfer its entire holding of a sum sufficient to cover any stamp tax or governmental charge imposed in respect Notes regardless of any the principal amount of such transfer of holder's Notes.

Exchange of Notes. Upon surrender of any Note at the office of the Company maintained pursuant to Section 7.3 hereof 6.16, duly endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder's attorney duly authorized in writing, the Company shall will execute and and, within five Business Days after such surrender, deliver, at the Company's expense (except as provided belowin Section 5.2(b)), a new Note or Notes in exchange therefor, in denominations of at least Fifty Thousand Dollars ($50,000) (except as may be necessary to reflect any principal amount not evenly divisible by Fifty Thousand Dollars ($50,000)), in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit A hereto. A. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. Each such new Note shall carry the same rights to unpaid interest and interest to accrue that were carried by the Note so exchanged or transferred. Notes shall not be transferred in denominations of less than $500,000, provided that a holder of Notes may transfer its entire holding of Notes regardless of the principal amount of such holder's Notes. The Notes have not been registered under the Securities Act and may be resold or otherwise transferred only if registered pursuant to the provisions of the Securities Act or if an exemption from registration is available, except under circumstances where neither such registration nor such an exemption is required by law, and the Company may require payment of a sum sufficient is not required to cover any stamp tax or governmental charge imposed in respect of any such transfer of register the Notes.

Exchange of Notes. Upon surrender of any Note at the office of the Company maintained pursuant to Section 7.3 hereof Company, duly endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder's attorney duly authorized in writing, the Company shall Issuers will execute and deliver, at the Company's Issuers' expense (except as provided belowin Section 2.2(b)), a new Note or Notes in exchange therefor, in denominations of at least Fifty Thousand Dollars ($50,000) (except as may be necessary to reflect any principal amount not evenly divisible by Fifty Thousand Dollars ($50,000)), in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to registered in the name of such Person as such holder may request and shall be substantially in the form of Exhibit A hereto. A. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Each such new Note shall carry the same rights to unpaid interest and interest to accrue that were carried by the Note so exchanged or transferred. Notes shall not be transferred to holders other than officers of the Company in denominations of less than Five Hundred Thousand Dollars ($500,000), provided that any holder of Notes may require payment transfer its entire holding of a sum sufficient to cover any stamp tax or governmental charge imposed in respect Notes regardless of any the principal amount of such transfer of holder's Notes.

Exchange of Notes. Upon surrender of any Note at the office of the Company maintained pursuant to Section 7.3 hereof duly endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder's his attorney duly authorized in writing, the Company shall execute and deliver, at the Company's expense (except as provided below), a new Note or Notes of the same Series in exchange therefor, in denominations of at least Fifty One Hundred Thousand Dollars ($50,000100,000) (except as may be necessary to reflect any principal amount not evenly divisible by Fifty One Hundred Thousand Dollars ($50,000100,000)), in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request request, shall be of the same Series as the surrendered Note and shall be substantially in the form of Exhibit A A1 or Exhibit A2 hereto, as the case may be, corresponding to the Series of the surrendered Note. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such transfer of Notes.

Exchange of Notes. Upon surrender of any Note at the office of the Company maintained pursuant to Section 7.3 6.3 hereof duly endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder's attorney duly authorized in writing, the Company shall will execute and deliver, at the Company's expense (except as provided below), new Notes in exchange therefor, in denominations of at least Fifty Thousand Dollars ($50,000) (except as may be necessary to reflect any principal amount not evenly divisible by Fifty Thousand Dollars ($50,000)), in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit A hereto. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations of less than Two Hundred Thousand Dollars ($200,000) provided that a holder of Notes may transfer its entire holding of Notes regardless of the principal amount of such holder's Notes. Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the representations set forth in Section 1.3.