Second-Out Term Notes Sample Clauses

Second-Out Term Notes. On the Closing Date, in accordance with Article III.C.2. of the Approved Plan of Reorganization, each Lender shall be issued a Second-Out Term Note in the principal amount set forth opposite such Lender’s name on Schedule 1.1(a)(i) hereto under the heading “Second-Out Term Note Amount.” The Second-Out Term Notes shall be
Sample 1
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Second-Out Term Notes. On the Closing Date, in accordance with Article III.C.2. of the Approved Plan of Reorganization, each Lender shall be issued a Second-Out Term Note in the principal amount set forth opposite such Lender’s name on Schedule 1.1(a)(i) hereto under the heading “Second-Out Term Note Amount.” The Second-Out Term Notes shall be (a) evidenced by this Agreement and, if requested by such Lender, a Second-Out Term Note and (b) the “New Second Lien Secured Notes” for purposes of the Approved Plan of Reorganization, and. tThis Agreement shall constitute the New Second Lien Credit Agreement for purposes of the Approved Plan of Reorganization. The Agent, for this purpose as agent of the Borrower, shall maintain accounts or records of each Second-Out Term Note and each assignment and assumption of a Lender’s rights and obligations hereunder that is delivered to Agent, at the Agent’s office in the Register, which, in addition to the information set forth in Section 1.2, shall set forth the principal amounts (and stated interest, including PIK Interest) of the Second-Out Term Notes owing to each Lender pursuant to the terms hereof from time to time. The entries in the Register shall be conclusive, and the Borrower, the Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as the owner of the corresponding Second-Out Term Notes for all purposes of this Agreement, notwithstanding notice to the contrary.
Sample 1

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