Prior Notes Sample Clauses

Prior Notes. Xxxxxxxx acknowledges and agrees that this Note, together with the other Notes, re-evidences existing indebtedness of certain Borrowers to Agent and this Note, together with the other Notes, is given in substitution of, and not as payment for, all prior notes evidencing such indebtedness and shall not be deemed a novation thereof.

Prior Notes. Borrower acknowledges and agrees that this Note, ----------- together with Revolving and Term Facility Note B, re-evidences the indebtedness previously evidenced by the Line Note, the Term Note, the New Term Note and the Nobel Note and is given in substitution of, and not as payment for, the Line Note, the Term Note and the New Term Note and shall not be deemed a novation thereof.

Prior Notes. The Borrower agrees and acknowledges that the indebtedness of the Borrower evidenced by the Original Shaar Note and the Milford Note (together, the "Prior Notes") remains outstanding as of the date hereof, and this Convertible Secured Note: (a) is exchanged for and re-evidences the indebtedness evidenced by the Prior Notes; (b) is given in substitution for, and not in payment of the Prior Notes; and (c) is not intended to discharge or constitute a novation of the Prior Notes.

Prior Notes. Upon satisfaction of the Conditions of Effectiveness ----------- set forth in Section 3 hereof, the following Notes shall be marked "RENEWED AND REPLACED" by the Lenders and delivered to the Borrower: (a) Revolving Credit Note dated December 1, 1997, executed by the Borrower and payable to the order of NationsBank of Texas, N.A. in the original principal amount of $11,666,666.66;

Prior Notes. Lender has acquired, by assignment, those certain promissory notes previously issued by SFNL to third parties, copies of which are attached hereto as Exhibit C (the “Previous Notes”). The parties acknowledge and agree that the loans evidenced by the Previous Notes shall be deemed to be Loans under this Agreement and the Previous Notes shall be deemed Notes under this Agreement.

Prior Notes. Simultaneously with the satisfaction of the Conditions of Effectiveness set forth in Section 3 hereof, each Lender which was a party to the Credit Agreement prior to this Third Amendment (other than TCB) shall return its prior Revolving Loan Note to Administrative Lender marked "Renewed" or words of similar import.

Prior Notes. Lender will surrender the original promissory notes representing the Prior Loans to the Company. Pending delivery of these notes, the Company may retain possession of the Notes and Warrants. When all notes representing the Prior Loans have been surrendered by Lender for can elation, the Company shall deliver the Notes and Warrants to Lender within three (3) business days.

Prior Notes. The Prior Notes are hereby extinguished and replace by Term Note I, term Note II and the Revolving Note and Term Note I, Term Note II and the Revolving Note constitute the only indebtedness currently owed to Lender.

Prior Notes. Except as required by Section 2.3, each Purchaser hereby acknowledges that Prior Notes may remain outstanding subsequent to the Final Closing. To the extent that Prior Notes remain outstanding subsequent to the Final Closing or the Company issues new debt or convertible debt securities in an Alternative Transaction, each Purchaser hereby agrees that the Company is permitted to make to such holder (and such holder is permitted to receive) payment of (i) the principal amount of such Prior Notes, and all interest thereon, as and when required pursuant to the terms of such Prior Notes and (ii) the principal amount of new debt or convertible debt securities issued in an Alternative Transaction, and all interest thereon, as and when required pursuant to the terms of such new debt or convertible debt securities.

Prior Notes. The parties hereby acknowledge and agree that upon delivery of the Term Note A to Lender, the 2010 Term Note A shall automatically be cancelled without any additional action required by any party hereto. The parties hereby acknowledge and agree that upon delivery of the Revolving Note, the 2010 Revolving Loan shall automatically be cancelled without any additional action required by any party hereto.