Common use of Restructure Note Clause in Contracts

Restructure Note. The “Restructure Note” shall be a promissory note in the original principal amount of$ 10,000,000 and payable to the order of McKesson by Accentia. The principal owing under the Restructure Note shall bear interest at the Contract Rate unless and until an Event of Default occurs, in which case interest shall accrue and be payable at the Default Rate. All sums owing under the Restructure Note shall be due and payable on the first to occur of (i) the date that is 90 calendar days after the Restructure Closing, (ii) the date that is five (5) calendar days after the date upon which Accentia completes an initial public offering of its securities, and (iii) the date upon which an Event of Default under the Assumption Agreement or the other Assumption Documents occurs. The Restructure Note shall provide that Accentia shall remain obliged to reimburse McKesson for all fees, costs and expenses incurred by McKesson in connection with Accentia, the Restructure Note, the collateral therefor, the Assumption Agreement, and any of the Guarantors or pledgors of collateral, which sums shall be payable upon demand or in any event at the time of maturity of the Restructure Note, whether by acceleration or otherwise. The Restructure Note shall otherwise have terms satisfactory to McKesson.