Common use of Exchange or Replacement of Notes Clause in Contracts

Exchange or Replacement of Notes. (a) The Payee may, at its option, in person or by duly authorized attorney, surrender this Note for exchange, at the principal business office of the Payor, and receive in exchange therefor, a new Note in the same principal amount as the unpaid principal amount of this Note and bearing interest at the same annual rate as this Note, each such new Note to be dated as of the date of this Note and to be in such principal amount as remains unpaid and payable to such person or persons, or order, as the Payee may designate in writing. (b) Upon receipt by the Payor of evidence satisfactory to it of the loss, theft, destruction, or mutilation of this Note, and (in case of loss, theft or destruction) of an indemnity reasonably satisfactory to it, and upon surrender and cancellation of this Note, if mutilated, the Payor will deliver a new Note of like tenor in lieu of this Note. Any Note delivered in accordance with the provisions of this Section 6 shall be dated as of the date of this Note.

Exchange or Replacement of Notes. (a) The Payee Purchaser may, at its option, in person or by duly authorized attorney, surrender this Note for exchange, at the principal business office of the PayorCompany, and receive in exchange therefortherefore, a new Note in the same principal amount as the unpaid principal amount of this Note and bearing interest at the same annual rate as this Note, each such new Note to be dated as of the date of this Note and to be in such principal amount as remains unpaid and payable to such person or persons, or order, as the Payee Purchaser may designate in writing; provided that any such transfer of this Note complies with all applicable securities laws. (b) Upon receipt by the Payor Company of evidence satisfactory to it of the loss, theft, destruction, or mutilation of this Note, Note and (in the case of loss, theft or destruction) of an indemnity reasonably satisfactory to it, and upon surrender and cancellation of this Note, if mutilated, the Payor Company will deliver a new Note of like tenor in lieu of this Note. Any Note delivered in accordance with the provisions of this Section 6 7 shall be dated as of the date of this Note.

Exchange or Replacement of Notes. (a) 6.1 The Payee Purchaser may, at its option, in person or by duly authorized attorney, surrender this Note for exchange, at the principal business office of the PayorCompany, and receive in exchange therefortherefore, a new Note in the same principal amount as the unpaid principal amount of this Note and bearing interest at the same annual rate as this Note, each such new Note to be dated as of the date of this Note and to be in such principal amount as remains unpaid and payable to such person or persons, or order, as the Payee Purchaser may designate in writing; provided that any such transfer of this Note complies with all applicable securities laws. (b) 6.2 Upon receipt by the Payor Company of evidence satisfactory to it of the loss, theft, destruction, or mutilation of this Note, Note and (in the case of loss, theft or destruction) of an indemnity reasonably satisfactory to it, and upon surrender and cancellation of this Note, if mutilated, the Payor Company will deliver a new Note of like tenor in lieu of this Note. Any Note delivered in accordance with the provisions of this Section 6 shall be dated as of the date of this Note.

Exchange or Replacement of Notes. (a) The Payee Investor may, at its option, in person or by duly authorized attorney, surrender this Note for exchange, at the principal business office of the PayorEnsysce, and receive in exchange therefortherefore, a new Note in the same principal amount as the unpaid principal amount of this Note and bearing interest at the same annual rate as this Note, each such new Note to be dated as of the date of this Note and to be in such principal amount as remains unpaid and payable to such person or persons, or order, as the Payee Investor may designate in writing. (b) Upon receipt by the Payor Ensysce of evidence satisfactory to it of the loss, theft, destruction, or mutilation of this Note, Note and (in the case of loss, theft or destruction) of an indemnity reasonably satisfactory to it, and upon surrender and cancellation of this Note, if mutilated, the Payor Ensysce will deliver a new Note of like tenor in lieu of this Note. Any Note delivered in accordance with the provisions of this Section 6 9 shall be dated as of the date of this Note.

Exchange or Replacement of Notes. (a) a. The Payee may, at its option, in person or by duly authorized attorney, surrender this Note for exchange, at the principal business office of the Payor, and receive in exchange therefor, a new Note in the same principal amount as the unpaid principal amount of this Note and bearing interest at the same annual rate as this Note, each such new Note to be dated as of the date of this Note and to be in such principal amount as remains unpaid and payable to such person or persons, or order, as the Payee may designate in writing. (b) b. Upon receipt by the Payor of evidence satisfactory to it of the loss, theft, destruction, or mutilation of this Note, Note and (in the case of loss, theft or destruction) of an indemnity agreement reasonably satisfactory to it, and upon surrender and cancellation of this Note, if mutilated, the Payor will deliver a new Note of like tenor in lieu of this Note. Any Note delivered in accordance with the provisions of this Section 6 4 shall be dated as of the date of this Note.

Exchange or Replacement of Notes. (a) The Payee Purchaser may, at its option, in person or by duly authorized attorney, surrender this Note for exchange, at the principal business office of the PayorCompany, and receive in exchange therefortherefore, a new Note in the same principal amount as the unpaid principal amount of this Note and bearing interest at the same annual rate as this Note, each such new Note to be dated as of the date of this Note and to be in such principal amount as remains unpaid and payable to such person or persons, or order, as the Payee Purchaser may designate in writing; provided that any such transfer of this Note complies with all applicable securities laws. (b) Upon receipt by the Payor Company of evidence satisfactory to it of the loss, theft, destruction, or mutilation of this Note, Note and (in the case of loss, theft or destruction) of an indemnity reasonably satisfactory to it, and upon surrender and cancellation of this Note, if mutilated, the Payor Company will deliver a new Note of like tenor in lieu of this Note. Any Note delivered in accordance with the provisions of this Section 6 9 shall be dated as of the date of this Note.

Exchange or Replacement of Notes. (a) The Payee Holder may, at its option, in person or by duly authorized attorney, surrender this Note for exchange, at the principal business office of the PayorDebtor, and receive in exchange therefor, a new Note in the same principal amount as the unpaid principal amount of this Note and bearing subject to interest at under the same annual rate terms as this Note, each such new Note to be dated as of the date of this Note and to be in such principal amount as remains unpaid and payable to such person or persons, or order, as the Payee Holder may designate in writing. (b) Upon receipt by the Payor Debtor of evidence satisfactory to it of the loss, theft, destruction, or mutilation of this Note, and (in case of loss, theft or destruction) of an indemnity reasonably satisfactory to it, and upon surrender and cancellation of this Note, if mutilated, the Payor Debtor will deliver a new Note of like tenor in lieu of this Note. Any Note delivered in accordance with the provisions of this Section 6 7 shall be dated as of the date of this Note.