Pagarés. FMO shall have received from the Borrower Notes for each of the Loans in accordance with sub-Section 3.2.8 of Section 3.2 (Procedure for Utilization).
Pagarés. Each Lender (or its designated representative) shall have received a Pagaré, in each case, duly executed and delivered by the Borrower (as issuer (suscriptor)) and all Guarantors por aval in favor of such Lender.
Pagarés. The Debtor’s obligation to pay the principal of the Debt, shall be evidenced by a xxxxxx substantially in the form of Exhibit B, to be duly executed and delivered by an authorized officer of the Debtor on the date hereof, with blanks appropriately completed in conformity herewith. Such xxxxxx shall (y) be payable to the Creditor and be dated on the date hereof, and (z) be in the principal amount of the Debt. EXECUTION COPY EXHIBIT E - FORM OF NEW DEBT AGREEMENT The Debtor’s obligation to pay interest on the Debt, shall be evidenced by a xxxxxx substantially in the form of Exhibit B, to be duly executed and delivered by an authorized officer of the Debtor on the date hereof, with blanks appropriately completed in conformity herewith (the “Interest Note”). Such Interest Note shall (y) be payable to the Creditor and be dated on the date hereof, and (z) be in a stated amount equal to the interest that will accrue hereunder in respect of the Debt at the interest rate during the relevant Interest Period. On the first day of each Interest Period after the initial Interest Period applicable to the Debt, the Debtor shall execute and deliver to the Creditor an Interest Note covering such Interest Period, which shall replace the Interest Note then in effect evidencing interest hereunder for the immediately preceding Interest Period, provided that if the Debtor fails to replace such Interest Note evidencing interest but nonetheless pays the interest accrued during the immediately preceding Interest Period, the Creditor shall be entitled to claim under such xxxxxx the amount that may accrue in the following Interest Period. Promptly upon repayment in full of amounts due under any Interest Note (whether in cash or by delivery of a PIK Note) and the delivery of the applicable replacement Interest Note as required under this Section 4(b), the Creditor shall return the replaced Interest Note to the Debtor marked “cancelled”. The pagarés shall not be presented for payment if no Event of Default shall have occurred and this Agreement shall have not been declared or become due and payable as provided in Section 10 of this Agreement.
