Common use of Interpretation of Note Documents Clause in Contracts

Interpretation of Note Documents. As and from the time of completion of the Reorganization, the Note Agreement, each Note, each Guarantee and all other instruments and agreements entered into by an Obligor/Subsidiary for the benefit of the holders of Notes or delivered to the holders of Notes pursuant to any terms of the Note Agreement (collectively, the “Note Documents”) shall be read and interpreted in a manner that ensures that all of the obligations of ARC Trust and its Subsidiaries under the applicable Note Document prior to the implementation of the Reorganization on January 1, 2011 (other than as provided in Section 7.1 hereof) continue as obligations of their respective ultimate successors and assigns following the implementation of the Reorganization on and after January 1, 2011, without interruption and in a manner that takes into account and gives effect to the Reorganization. Accordingly, from and after January 1, 2011 all provisions of the Note Documents (including the amendments effected hereby) shall be read mutatis mutandis to give effect to the foregoing. Without limiting the generality of the foregoing, on and after January 1, 2011: (a) all references in the Note Documents to ARC Trust shall be interpreted as being references to the Corporation as a successor entity to ARC Trust, except in instances where the references to ARC Trust are superfluous, such as references to “the Corporation and ARC Trust”, “the Corporation shall cause ARC Trust” or similar duplicative references, in which case the references to ARC Trust shall be ignored; (b) all references in the Note Documents to a “Trust Entity” or “Trust Entities” shall be interpreted as being references to an “Obligor/Subsidiary” or “Obligors/Subsidiaries”, respectively; (c) all references in the Note Documents to a “Secured Guarantor” shall be interpreted as being references to a “Guarantor”; (d) all references to Subsidiaries of ARC Trust in the Note Documents shall be interpreted as being references to Subsidiaries of the Corporation; and (e) all references to trust units of ARC Trust in the Note Documents shall be interpreted as being references to common shares in the capital of the Corporation, all references to unitholders of ARC Trust shall be interpreted as being references to shareholders of the Corporation, and all references to unitholders equity of ARC Trust shall be interpreted as being references to shareholders equity of the Corporation.

Interpretation of Note Documents. As and from the time of completion of the Reorganization, the Note Master Shelf Agreement, each Notethe Notes, each Guarantee and all other instruments and agreements entered into by an Obligor/Subsidiary for the benefit of the holders of Notes or delivered to the holders of Notes pursuant to any terms of the Note Master Shelf Agreement (collectively, the “Note Documents”) shall be read and interpreted in a manner that ensures that all of the obligations of ARC Trust and its Subsidiaries under the applicable Note Document prior to the implementation of the Reorganization on January 1, 2011 (other than as provided in Section 7.1 hereof) continue as obligations of their respective ultimate successors and assigns following the implementation of the Reorganization on and after January 1, 2011, without interruption and in a manner that takes into account and gives effect to the Reorganization. Accordingly, from and after January 1, 2011 all provisions of the Note Documents (including the amendments effected hereby) shall be read mutatis mutandis to give effect to the foregoing. Without limiting the generality of the foregoing, on and after January 1, 2011: (a) all references in the Note Documents to ARC Trust shall be interpreted as being references to the Corporation as a successor entity to ARC Trust, except in instances where the references to ARC Trust are superfluous, such as references to “the Corporation and ARC Trust”, “the Corporation shall cause ARC Trust” or similar duplicative references, in which case the references to ARC Trust shall be ignored; (b) all references in the Note Documents to a “Trust Entity” or “Trust Entities” shall be interpreted as being references to an “Obligor/Subsidiary” or “Obligors/Subsidiaries”, respectively; (c) all references in the Note Documents to a “Secured Guarantor” shall be interpreted as being references to a “Guarantor”; (d) all references to Subsidiaries of ARC Trust in the Note Documents shall be interpreted as being references to Subsidiaries of the Corporation; and (e) all references to trust units of ARC Trust in the Note Documents shall be interpreted as being references to common shares in the capital of the Corporation, all references to unitholders of ARC Trust shall be interpreted as being references to shareholders of the Corporation, and all references to unitholders equity of ARC Trust shall be interpreted as being references to shareholders equity of the Corporation.

Interpretation of Note Documents. As and from the time of completion of the Reorganization, the Note Agreement, each Note, each Guarantee and all other instruments and agreements entered into by an Obligor/Subsidiary for the benefit of the holders of Notes or delivered to the holders of Notes pursuant to any terms of the Note Agreement (collectively, the “Note Documents”) shall be read and interpreted in a manner that ensures that all of the obligations of ARC Trust and its Subsidiaries under the applicable Note Document prior to the implementation of the Reorganization on January 1, 2011 (other than as provided in Section 7.1 hereof) continue as obligations of their respective ultimate successors and assigns following the implementation of the Reorganization on and after January 1, 2011, without interruption and in a manner that takes into account and gives effect to the Reorganization. Accordingly, from and after January 1, 2011 all provisions of the Note Documents (including the amendments effected hereby) shall be read mutatis mutandis to give effect to the foregoing. Without limiting the generality of the foregoing, on and after January 1, 2011: (a) all references in the Note Documents to ARC Trust shall be interpreted as being references to the Corporation as a successor entity to ARC Trust, except in instances where the references to ARC Trust are superfluous, such as references to “the Corporation and ARC Trust”, “the Corporation shall cause ARC Trust” or similar duplicative references, in which case the references to ARC Trust shall be ignored; (b) all references in the Note Documents to a “Trust Entity” or “Trust Entities” shall be interpreted as being references to an “Obligor/Subsidiary” or “Obligors/Subsidiaries”, respectively; (c) all references in the Note Documents to a “Secured Subsidiary Guarantor” shall be interpreted as being references to a “Guarantor”; (d) all references to Subsidiaries of ARC Trust in the Note Documents shall be interpreted as being references to Subsidiaries of the Corporation; and (e) all references to trust units of ARC Trust in the Note Documents shall be interpreted as being references to common shares in the capital of the Corporation, all references to unitholders of ARC Trust shall be interpreted as being references to shareholders of the Corporation, and all references to unitholders equity of ARC Trust shall be interpreted as being references to shareholders equity of the Corporation.