Examples of Substitute Note in a sentence
It is expressly agreed that the execution and delivery of such Substitute Note shall not evidence or represent a refinancing, repayment, accord and satisfaction or novation of the indebtedness evidenced by the Prior Note.
The execution and delivery by the Borrower of the Substitute Note pursuant to the provisions hereof shall not constitute a refinancing, repayment, accord and satisfaction or novation of the Prior Note or the indebtedness evidenced thereby.
As soon as practicable following its receipt of the Substitute Note, the Bank will return the Prior Note to the Borrower for cancellation.
Except as otherwise provided in this Agreement or the Purchase Agreement, this Agreement, the Purchase Agreement, the Substitute Note and the Substitute Warrant contain the entire agreement among the parties hereto and there are no agreements, representations or warranties that are not set forth herein.
The Bank and the Borrowers hereby covenant and agree that the maximum aggregate principal amount of the Revolving Credit Note is now hereby permanently decreased, amended and modified from the existing maximum aggregate principal amount of "up to $16,500,000.00" to a new decreased maximum aggregate principal amount of "up to $12,500,000.00", as such permanent decrease is evidenced by the Third Substitute Note.