Common use of Procedures for Issuing Exchange Notes Clause in Contracts

Procedures for Issuing Exchange Notes. (a) Any Lender exchanging Loans for Exchange Notes pursuant to Section 3.3 shall deliver to the Borrower (as a condition to receipt of such Exchange Notes), within three Business Days following delivery of an Exchange Notice, promissory note(s) evidencing its Loans to be exchanged. Loans exchanged for Exchange Notes pursuant to Section 3.3 shall be deemed repaid and canceled, and (subject to the last sentence of Section 3.4(d)) upon receipt by such Lender of such Exchange Notes all Obligations with respect to such Loans shall be terminated. Such Exchange Notes shall be governed by and construed in accordance with the provisions of the Exchange Note Indenture. (b) Not later than the third Business Day after delivery of an Exchange Notice: (i) the Borrower shall cancel each promissory note so delivered to it pursuant to Section 3.4(a) and, if applicable, the Borrower shall issue a replacement promissory note to such Lender in an amount equal to the remaining outstanding principal amount of such Lender’s Loans; and (ii) the Administrative Agent shall deliver the Exchange Notice to the Exchange Note Trustee, and the Borrower shall deliver an authentication order to the Exchange Note Trustee directing the Exchange Note Trustee to authenticate Exchange Notes with an aggregate principal amount to or for the order of the Lender exchanging such Loans pursuant to Section 3.3, and the Exchange Note Trustee shall deliver the applicable Exchange Note(s) to the holder or holders thereof specified in the Exchange Notice. (c) The Exchange Notes to be issued to any Lender shall be issued in an aggregate principal amount equal to the principal amount specified in the Exchange Notice, as applicable, payable to such Lender or its nominee in such amounts as may be specified therein. On the day such Exchange Notes are issued, the Borrower shall pay to the Administrative Agent, for account of such Lender, all unpaid cash interest accrued to such day on the Loans that are the subject of the exchange.

Procedures for Issuing Exchange Notes. (a) Any Lender exchanging Loans for Exchange Notes pursuant to Section 3.3 shall deliver to the Borrower (as a condition to receipt of such Exchange Notes), within three Business Days following delivery of an Exchange Notice, promissory note(s) evidencing its Loans to be exchanged. Loans exchanged for Exchange Notes pursuant to Section 3.3 shall be deemed repaid and canceled, and (subject to the last sentence of Section 3.4(d)) upon receipt by such Lender of such Exchange Notes all Obligations with respect to such Loans shall be terminated. Such Exchange Notes shall be governed by and construed in accordance with the provisions of the Exchange Note Indenture. (b) Not later than the third Business Day after delivery of an Exchange Notice: (i) the Borrower shall cancel each promissory note so delivered to it pursuant to Section 3.4(a) and, if applicable, the Borrower shall issue a replacement promissory note to such Lender in an amount equal to the remaining outstanding principal amount Accreted Value of such Lender’s Loans; and (ii) the Administrative Agent shall deliver the Exchange Notice to the Exchange Note Trustee, and the Borrower shall deliver an authentication order to the Exchange Note Trustee directing the Exchange Note Trustee to authenticate Exchange Notes with an aggregate principal amount Accreted Value to or for the order of the Lender exchanging such Loans pursuant to Section 3.3, and the Exchange Note Trustee shall deliver the applicable Exchange Note(s) to the holder or holders thereof specified in the Exchange Notice. (c) The Exchange Notes to be issued to any Lender shall be issued in an aggregate principal amount equal to the principal amount specified in the Exchange Notice, as applicable, payable to such Lender or its nominee in such amounts as may be specified therein. On the day such Exchange Notes are issued, the Borrower and Holdings shall pay to the Administrative Agent, for account of such Lender, all unpaid cash interest accrued to such day on the Loans that are the subject of the exchange.