Common use of Purpose and Transfer Clause in Contracts

Purpose and Transfer. The purpose of this Supplement is to replace the Note and transfer the indebtedness evidenced thereby to this Supplement. As of the date of this Supplement, the Note shall be deemed replaced and superseded, but the indebtedness evidenced by such Note shall not be deemed to have been paid off, by this Supplement and the MLA. The Note Agreement shall remain in full force and effect except that any reference to the “Loan” shall be deemed to mean the indebtedness evidenced by this Supplement, and any reference to “Loan Agreement” shall be deemed a reference to the MLA. To the extent that the Note Agreement may be inconsistent with the terms of this Supplement or the MLA, the terms of the Note Agreement shall control. All security given to secure the Note shall secure this Supplement.

Appears in 2 contracts

Samples: Master Loan Agreement (American Crystal Sugar Co /Mn/), Master Loan Agreement (American Crystal Sugar Co /Mn/)

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Purpose and Transfer. The purpose of this Supplement is to replace the Note and transfer the indebtedness evidenced thereby to this Supplement. As of the date of this Supplement, the Note shall be deemed replaced and superseded, but the indebtedness evidenced by such Note shall not be deemed to have been paid off, by this Supplement and the MLA. The Note Agreement shall remain in full force and effect except that any reference to the "Loan" shall be deemed to mean the indebtedness evidenced by this Supplement, and any reference to "Loan Agreement" shall be deemed a reference to the MLA. To the extent that the Note Agreement may be inconsistent with the terms of this Supplement or the MLA, the terms of the Note Agreement shall control. All security given to secure the Note shall secure this Supplement.

Appears in 1 contract

Samples: Master Loan Agreement (American Crystal Sugar Co /Mn/)

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Purpose and Transfer. The purpose of this Supplement is to replace the Note Existing Supplement and transfer the indebtedness evidenced thereby to this Supplement. As of the date of this Supplement, the Note Existing Supplement shall be deemed replaced and superseded, but the indebtedness evidenced by such Note the Existing Supplement shall not be deemed to have been paid off, off by this Supplement and the MLASupplement. The Note Agreement shall continue to remain in full force and effect except that any reference to the “Loan” shall be deemed to mean the indebtedness evidenced by this Supplement, and any reference to “Loan Agreement” shall be deemed a reference to the MLA. To the extent that the Note Agreement may be inconsistent with the terms of this Supplement or the MLA, the terms of the Note Agreement shall control. All security given given-to secure the Note shall secure this Supplement.

Appears in 1 contract

Samples: Master Loan Agreement (American Crystal Sugar Co /Mn/)

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