Common use of Issuance of New Note Clause in Contracts

Issuance of New Note. Subject to the terms and conditions set forth herein, Maker agrees to deliver to Holder at Closing (defined below) the New Note and upon such delivery thereby shall be obligated to pay the principal of the New Note on the terms of the New Note.

Issuance of New Note. Subject to the terms and conditions set forth herein, Maker agrees to deliver to Holder at Closing (defined below) the New Note and upon such delivery thereby shall be obligated to pay the principal of the New Note Note, which is non-interest bearing, on the terms of the New Note.