Issuances of Notes and Variable Note Commitments Sample Clauses

Issuances of Notes and Variable Note Commitments. (a) Notwithstanding anything to the contrary in this Agreement, pursuant to one or more offers (each, an “Extension Offer”) made from time to time by the Issuer to all Holders holding Notes of any Class with a like Maturity Date or commitments with a like Maturity Date, in each case on a pro rata basis (based on the aggregate outstanding principal amount of the respective Notes or commitments with a like Maturity Date) and on the same terms to each such Holder, the Issuer is hereby permitted from time to time to consummate transactions with any individual Holder who accepts the terms contained in any such Extension Offer to extend the Maturity Date of such Holder’s Notes and/or commitments and otherwise modify the terms of such Notes and/or commitments pursuant to the terms of the relevant Extension Offer (including by increasing the interest rate or fees payable in respect of such Notes and/or commitments (and related outstandings) and/or modifying the amortization schedule in respect of such Notes) (each, an “Extension”, and each group of Notes or commitments, as applicable, in each case as so extended, as well as the original Notes and the original commitments (in each case not so extended), being a “tranche”; any Extended Term Notes shall constitute a separate tranche (and Class) of Notes from the tranche of Notes from which they were converted and any Extended Variable Note Commitments shall constitute a separate tranche (and Class) of variable note commitments from the tranche of variable note commitments from which they were converted), so long as the following terms are satisfied: (i) no Default under Section 7.01(a), (f) or (g) or Event of Default shall exist at the time the notice in respect of an Extension Offer is delivered to the applicable Holders, and no Default under Section 7.01(a), (f) or (g) or Event of Default shall exist immediately prior to or after giving effect to the effectiveness of any Extension; (ii) except as to (x) interest rates, fees and final maturity (which shall, subject to clause (iv)(y) below, be determined by the Issuer and any Holder who agrees to an Extension and set forth in the relevant Extension Offer) and (y) any covenants or other provisions applicable only to periods after the Latest Variable Note Maturity Date (in each case, as of the date of such Extension), the commitment of any Variable Note Holder that agrees to an Extension (an “Extended Variable Note Commitment”; and the Notes thereunder, “Extended Varia...