Common use of Transfer of Exchange Notes Clause in Contracts

Transfer of Exchange Notes. An Exchange Noteholder may transfer an Exchange Note by surrendering the Exchange Note for registration of transfer at the office or agency of the Borrowers maintained under Section 5.2. If the requirements of Section 8-401(a) of the UCC are met, the Borrowers will execute and the Administrative Agent will authenticate and deliver to the related Exchange Noteholder, in the name of the transferee, a new Exchange Note in the same principal amount. An Exchange Noteholder may Transfer an Exchange Note only in whole and not in part.