Common use of NOVATION OF LOAN AGREEMENT Clause in Contracts

NOVATION OF LOAN AGREEMENT. 2.1 Subject to the Threshold being reached, the obligations of the Parties under the Loan Agreement relating to First Tranche (including, but not limited to, repayment of the First Tranche principal and payment of First Tranche interest), save for those obligations which are mentioned in Clause 2.2 below (the “Original Obligations”) and in Clause 2.3 below, shall be novated, with effect from the date next following the day when the Threshold is reached, and shall become obligations of the Parties under a loan agreement with the following terms and conditions (the “New Loan Agreement”):

NOVATION OF LOAN AGREEMENT. 2.1 Subject to the Threshold being reached, the obligations of the Parties under the Loan Agreement relating to First Tranche (including, but not limited to, the loan principal repayment of the First Tranche principal and interest payment of First Tranche interestobligations), save for those obligations which are mentioned in Clause 2.2 below (the “Original Obligations”) and in Clause 2.3 below, shall be novated, with effect from the date next following the day when the Threshold is reached, and shall become obligations of the Parties under a loan agreement with the following terms and conditions (the “New Loan Agreement”):

NOVATION OF LOAN AGREEMENT. 2.1 Subject to the Threshold being reached, the obligations of the Parties under the Loan Agreement relating to First Tranche (including, but not limited to, the loan principal repayment of the First Tranche principal and interest payment of First Tranche interestobligations), save for those obligations which are mentioned in Clause Claus 2.2 below (the “Original Obligations”) and in Clause 2.3 below, shall be novated, with effect from the date next following the day when the Threshold is reached, and shall become obligations of the Parties under a loan agreement with the following terms and conditions (the “New Loan Agreement”):