Common use of Replacement Revolving Note Clause in Contracts

Replacement Revolving Note. The Borrowers shall execute and deliver to the Bank on the date hereof the Replacement Revolving Note in substitution for and not satisfaction of, the issued and outstanding Revolving Promissory Note, and the Replacement Revolving Note shall be the “Revolving Promissory Note” for all purposes of the Loan Documents. The Note being substituted pursuant to this Agreement shall be marked “Replaced” and promptly returned to the Original Borrowers after the execution and delivery of the Replacement Revolving Note to the Bank. The Borrowers agree that the execution and delivery of the Replacement Revolving Note is not intended to and shall not cause or result in a novation with respect to the issued and outstanding Revolving Promissory Note, provided, however, that the terms of the Replacement Revolving Note are intended to supercede and replace all terms of the issued and outstanding Revolving Promissory Note.

Replacement Revolving Note. The Borrowers shall execute and deliver to the Bank on the date hereof the Replacement Revolving Note in substitution for and not satisfaction of, the issued and outstanding Revolving Promissory Note, and the Replacement Revolving Note shall be the “Revolving Promissory Note” for all purposes of the Loan Documents. The Note being substituted pursuant to this Agreement shall be marked “Replaced” and promptly returned to the Original Borrowers after the execution and delivery of the Replacement Revolving Note to the Bank. The Borrowers agree that the execution and delivery of the Replacement Revolving Note is not intended to and shall not cause or result in a novation with respect to the issued and outstanding Revolving Promissory Note, provided, however, that the terms of the Replacement Revolving Note are intended to supercede and replace all terms of the issued and outstanding Revolving Promissory Note.

Replacement Revolving Note. The Borrowers shall execute and deliver to the Bank on the date hereof the Replacement Revolving Promissory Note in substitution for and not satisfaction of, the issued and outstanding Revolving Promissory Note, and the Replacement Revolving Promissory Note shall be the “Revolving Promissory Note” for all purposes of the Loan Documents. The Note being substituted pursuant to this Agreement shall be marked “Replaced” and promptly returned to the Original Existing Borrowers after the execution and delivery of the Replacement Revolving Promissory Note to the Bank. The Borrowers agree that the execution and delivery of the Replacement Revolving Promissory Note is not intended to and shall not cause or result in a novation with respect to the issued and outstanding Revolving Promissory Note, provided, however, that the terms of the Replacement Revolving Promissory Note are intended to supercede and replace all terms of the issued and outstanding Revolving Promissory Note.