Issuance of Substitute Notes. Upon the surrender of any Note, the Borrower will execute and deliver to the holder thereof a new Note dated the date of the Note being surrendered but with appropriate notations thereon to reflect payments of principal and interest thereon; provided, however, that there shall never be outstanding at any one time more than one Note of any one series.
Issuance of Substitute Notes. Upon the surrender of any Note, the WLCDC will execute and deliver to the holder thereof a new Note dated the date of the Note being surrendered but with the same terms contained within this Note and with appropriate notations thereon to reflect payments of principal and interest thereon; provided, however, that there shall never be outstanding at any one time more than one Note of any one series.
Issuance of Substitute Notes. In order to facilitate resales of Notes by the Initial Purchaser to Holders, the Initial Purchaser may, at its option, exchange the Notes without charge for one or more classes of substitute notes to be issued pursuant to the Indenture ("Substitute Notes") that may have different initial principal balances, interest rates or maturities than those of the Notes; provided, however, that QRS will cooperate in preparing or effectuating any amendment to the Indenture or the Private Placement Memorandum necessary in connection with such reallocation; further provided that the issuance of Substitute Notes will not decrease the amount of Equity Interest relative to the aggregate Note Principal Balance or the right of the Equity Interest relative to the Notes to receive payments of Available Funds pursuant to the Indenture as of the Closing Date.
