Common use of Replacement Loans Clause in Contracts

Replacement Loans. In consideration of the aggregate principal amount of $250,000 to be loaned April 1, 2004 by the Secured Party to GDC reflected by two separate notes of $125,000 each, GDC covenants and agrees such funds shall be used to pay and replace Indebtedness of a like amount owed to the Lenders under the Senior Loan Agreement on such date and shall be Replacement Debt as defined in the Subordinated Security Agreement dated September 15, 2003 between the Debtors and HSBC Bank USA as Trustee and as provided in the Indenture dated September 15, 2003 between General DataComm Industries, Inc. and HSBC Bank USA.

Replacement Loans. In consideration of the aggregate principal amount amounts of $250,000 to be 125,000 loaned April 1January 16, 2004 2007 and $100,000 loaned March 9, 2007 by the ▇▇▇▇▇▇ as a Secured Party to GDC reflected by two separate demand notes of $125,000 eachand $100,000 respectively bearing interest at 10% per annum from the date hereof, GDC covenants and agrees such funds shall are and were to be used to pay and replace Indebtedness of a like amount owed paid to the Lenders under the Senior Loan Agreement on such date and shall be Replacement Debt as defined in the Subordinated Security Agreement dated September 15, 2003 between the Debtors and HSBC Bank USA as Trustee and as provided in the Indenture dated September 15, 2003 between General DataComm Industries, Inc. and HSBC Bank USA.

Replacement Loans. In consideration of the aggregate principal amount of $250,000 to be loaned April 1June 30, 2004 by the Modlin as a Secured Party to GDC reflected by two separate notes a note of $125,000 each250,000, GDC covenants ▇▇▇▇▇ants and agrees such funds shall be used to pay and replace Indebtedness of a like amount owed to the Lenders under the Senior Loan Agreement on such date July 1, 2004 and shall be Replacement Debt as defined in the Subordinated Security Agreement dated September 15, 2003 between the Debtors and HSBC Bank USA as Trustee and as provided in the Indenture dated September 15, 2003 between General DataComm Industries, Inc. and HSBC Bank USA.

Replacement Loans. In consideration of the aggregate principal amount of $250,000 to be loaned April 1, 2004 this date by the Secured Party to GDC reflected by two separate notes of $125,000 each, GDC covenants and agrees such funds shall be used to pay and replace Indebtedness of a like amount owed to the Lenders under the Senior Loan Agreement on such this date and shall be Replacement Debt as defined in the Subordinated Security Agreement dated September 15, 2003 between the Debtors and HSBC Bank USA as Trustee and as provided in the Indenture dated September 15, 2003 between General DataComm Industries, Inc. and HSBC Bank USA.