New Promissory Notes. The Administrative Agent shall have received new Promissory Notes evidencing the Loans outstanding as of the Restatement Effective Date, duly executed and delivered by the Borrower, as issued, against delivery of the existing Promissory Notes marked cancelled.
New Promissory Notes. Administrative Agent shall have received duly executed Notes payable to each New Lender or Increasing Lender requesting the same in a principal amount equal to its Commitment (as amended hereby) dated as of the First Amendment Effective Date.
New Promissory Notes. As set out above, the Promissory Notes will be cancelled and replaced by the New Promissory Notes which shall be issued by the Company after entering into the SPA Supplemental Agreement. The principal terms of the New Promissory Notes are as follows: Issuer: The Company Principal amount: HK$92.0 million in aggregate Issue date: On the date of the SPA Supplemental Agreement Interest rate: Nil Transferability: The holder(s) of the New Promissory Notes may assign or transfer the New Promissory Notes to any person (other than a connected person (as defined in the Listing Rules) of the Company)
New Promissory Notes. 2.4.1 At Closing, the Company shall assume ICI's payment obligations in the approximate amounts set forth below (collectively, “Friendly Debt”), which are owed to each of the parties set forth opposite each dollar amount (each a "Note Holder"):
2.4.1.1 Xxxxxxx Xxxxxx - $50,000;
2.4.1.2 Systems Solutions Group - $13,362;
2.4.1.3 Xxxxx Consulting - $23,318;
2.4.1.4 Xxx Xxxxx - $24,000; and
2.4.1.5 Xxxxxxxx, Xxxxx & Xxxxxxxx - $22,100.
2.4.2 At Closing, the Company shall execute and deliver a subordinated promissory note, in the form of Exhibit A (each, a "Subordinated Note"), to each Note Holder, whereby the Company shall satisfy the outstanding principal due thereunder from its "available cash," as that term is defined in the Subordinated Note, as approved by the Company’s Board of Directors. In addition, each Note Holder shall execute (i) an Intercreditor Agreement, in the form of Exhibit B, as attached hereto (the "Intercreditor Agreement") (which shall include a general release of ICI and the ICI Stockholders).
New Promissory Notes. On the Second Amendment Effective Date, the Company shall execute and deliver to each Revolving Credit Lender, in substitution and exchange for, but not in payment of the Revolving Credit Note held by such Lender, a promissory note (each, a "New Revolving Credit Note") substantially in the form of Exhibit A-3 to the Credit Agreement, with appropriate insertions therein as to payee, date and principal amount, payable to the order of such Lender and in a principal amount equal to such Lender's Revolving Credit Percentage of the Revolving Credit Commitments.
New Promissory Notes. Receipt by the Agent for each applicable -------------------- Lender of a duly executed new Revolving Note, Tranche A Term Note and Tranche B Term Note, each executed and delivered on behalf of Packaging and ICI by a duly authorized officer thereof.
New Promissory Notes. The Borrower will deliver new promissory notes to each New Lender and to each existing Lender whose Commitment has increased.
New Promissory Notes. The Exporter shall promptly execute and deliver new Notes satisfactory to the Importer to substitute for the Notes previously delivered to the Importer, at the Importer’s request: (a) to reflect any changes to the loans, to the Interest
New Promissory Notes. To Be Issued by the Borrower ------------------------------------------------- 1. Term Loan A Note to Assignee: $42,500,000* 2. Term Loan B Note to Assignee: $5,000,000* * After giving affect to the Assignment and Acceptance dated as of hereof between ___________ and the Assignee; provided, however, that if -------- ------- the Loan Agreement is amended and restated effective as of the Effective Date, new promissory notes shall be issued by the Borrower in accordance with the terms of the Loan Agreement as amended and restated. The terms set forth above are hereby agreed to: , as Assignor ------------------- By: -------------------------------- Title: ---------------------------- NATIONSBANK, N.A. as Assignee By: -------------------------------- Title: ---------------------------- ACKNOWLEDGMENT OF NOTICE: NATIONSBANK, N.A. (formerly known as NationsBank, N.A. (Carolinas)), as Agent By: ------------------------------------- Title: ---------------------------------- GULF STATES FIBERNET, as Borrower By: ------------------------------------- Title: ---------------------------------- EXHIBIT 4.02(b) FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT ASSIGNMENT AND ASSUMPTION AGREEMENT This ASSIGNMENT AND ASSUMPTION AGREEMENT (this "Assignment"), dated as of ---------- March 18, 1997, is by and between GULF STATES FIBERNET, a Georgia general partnership, as assignor (the "Assignor"), and GULF STATES TRANSMISSION SYSTEMS, -------- INC., A Delaware corporation, as assignee (the "Assignee"). --------
