Common use of Description of Notes Clause in Contracts

Description of Notes. Section 1.1. The Notes to be issued, sold and delivered at the closing to Purchaser without any expense to Purchaser (i) shall be in the form of registered notes specified in Schedule I hereto in the aggregate principal amount of $5,000,000 dated the Closing Date, (ii) shall bear interest from the date of issue at the rate of 5.00% per annum, payable semiannually on the fourth day of each March and September in each year, commencing with the fourth day of September next succeeding the date hereof (hereinafter called “Interest Payment Dates”), except that the rate of interest on overdue principal and premium, if any, and (to the extent legally enforceable) on any overdue installment of interest shall be 6.00% per annum after maturity, whether by acceleration or otherwise, until paid, (iii) shall become due and payable on March 4, 2010, (iv) shall be executed in the form of Exhibit A attached hereto and (v) may be in typewritten form. Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. The Notes are not subject to prepayment or redemption at the option of the Company prior to their expressed maturity dates except on the terms and conditions and in the amounts and with the premium, if any, set forth in Section 2 of this Loan Agreement. Section 1.2. Prior to the maturity and payment of the Notes and of any registered note or notes received in exchange therefor (the term “Notes” as used in this Agreement shall be deemed to include any registered note or notes received in exchange therefor), any holder of any Note may present the Note at the Company’s office in Nashua, New Hampshire, for immediate exchange for an equal principal amount of registered Notes of other denominations having the same maturity, rate of interest and covenants as the Note so presented, and so far as consistent with their form, subject to the same terms and conditions as the Note so surrendered. Each such new Note shall be payable to such person or persons as such holder may designate, and such exchange or transfer shall be made without expense to such holder, and in such manner that no gain or loss of principal or interest shall result therefrom. If any such Note is issued in the name of some person other than Purchaser, the Company reserves the right to employ a banking institution of its choice, and reasonably acceptable to Purchaser, to act as registrar of the Notes. Section 1.3. Interest and principal and premium, if any, to be paid in respect of the Notes shall be paid in such coin or currency of the United States of America as, at the time of payment, is legal tender for the payment of public and private debts and shall be payable in accordance with the provisions of Section 5.1 of this Loan Agreement. Section 1.4. Purchaser shall make payment to the Company for the Notes to be purchased by Purchaser hereunder on the Closing Date (as defined in Section 3.1) by wiring Federal or other funds immediately available to the order of the Company at the principal office of Bank of America, ▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ABA No. ▇▇-▇▇▇▇▇▇▇, Account Number ▇▇▇▇▇▇▇ in the principal amount of said Notes at the closing.

Description of Notes. Section 1.1. The Notes to be issued, sold and delivered at the closing to Purchaser without any expense to Purchaser (i) shall be in the form of registered notes specified in Schedule I hereto in the aggregate principal amount of $5,000,000 dated the Closing Date, (ii) shall bear interest from the date of issue applicable Issuance Date at the rate of 5.0020% per annum; provided, payable semiannually however, that in the event that the Issuer defaults in any payment of interest or principal on any Note when the fourth day same becomes due and payable, the portion of each March and September in each year, commencing with the fourth day principal or interest for which interest has not been paid when due or such portion of September next succeeding the date hereof (hereinafter called “Interest Payment Dates”), except that principal or interest which has not been paid when due shall bear interest at the rate of interest 25% per annum. Interest shall accrue on overdue the principal amount of the Notes on a daily basis until such time as the principal amount is paid off in full in cash in accordance with the terms of this Agreement. Interest on each Note shall be compounded annually on each anniversary of the applicable Issuance Date for such Note and, except as otherwise provided in this Agreement, shall be added at such time to, and thereafter be a part of and treated as principal of the applicable Notes (regardless of whether evidenced by a Note). The unpaid principal and premiumaccrued interest shall be due and payable in cash on the earliest of (a) June 9, if any2016, (b) the Redemption Date, with respect to all or any portion of the Notes required to be redeemed on such date in accordance with the terms of this Agreement, and (to c) the extent legally enforceable) on any overdue installment occurrence of an Event of Default (provided, however, that in the case of an Event of Default listed in Section 8.3(b), Section 8.8 or Section 8.9, the unpaid principal and accrued interest shall be 6.00% per annum after maturitydue and payable only upon the written demand of the Majority Lenders) (the earlier to occur of (a)-(c), whether by acceleration the “Maturity Date”). Interest shall be determined in all instances based upon a 365-day year (or otherwise366 days in the case of a leap year) and the actual number of days elapsed, until paidincluding the first day but excluding the payment date. Each of the Parties agrees, on behalf of itself and its successors and assigns, that notwithstanding anything to the contrary contained in any Note issued pursuant to the Original Agreement, (i) each such Note shall be deemed amended to provide that clause (a) of the definition of “Maturity Date” shall be June 9, 2016, (ii) each such Note shall be deemed amended to provide that the subordination legend be deleted, and (iii) the Issuer shall become promptly issue replacement notes, substantially in the form set forth on Exhibit A hereto, reflecting such amended term to each holder of a Note upon presentment of such original Notes. If any payment on the Notes becomes due and payable on March 4a day other than a day on which commercial banks in New York, 2010New York and London, England are open for the transaction of normal business (iv) a “Business Day”), the maturity thereof shall be executed in the form of Exhibit A attached hereto and (v) may be in typewritten form. Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. The Notes are not subject to prepayment or redemption at the option of the Company prior to their expressed maturity dates except on the terms and conditions and in the amounts and with the premium, if any, set forth in Section 2 of this Loan Agreement. Section 1.2. Prior extended to the maturity and next succeeding Business Day and, with respect to any payment of the Notes and of any registered note or notes received in exchange therefor (the term “Notes” as used in this Agreement shall be deemed to include any registered note or notes received in exchange therefor)principal, any holder of any Note may present the Note at the Company’s office in Nashua, New Hampshire, for immediate exchange for an equal principal amount of registered Notes of other denominations having the same maturity, rate of interest and covenants as the Note so presented, and so far as consistent with their form, subject to the same terms and conditions as the Note so surrendered. Each such new Note thereon shall be payable to such person or persons as such holder may designate, and such exchange or transfer shall be made without expense to such holder, and in such manner that no gain or loss of principal or interest shall result therefrom. If any such Note is issued in the name of some person other than Purchaser, the Company reserves the right to employ a banking institution of its choice, and reasonably acceptable to Purchaser, to act as registrar of the Notes. Section 1.3. Interest and principal and premium, if any, to be paid in respect of the Notes shall be paid in such coin or currency of the United States of America as, at the time of payment, is legal tender for the payment of public and private debts and shall be payable in accordance with the provisions of Section 5.1 of this Loan Agreementthen applicable rate during such extension. Section 1.4. Purchaser shall make payment to the Company for the Notes to be purchased by Purchaser hereunder on the Closing Date (as defined in Section 3.1) by wiring Federal or other funds immediately available to the order of the Company at the principal office of Bank of America, ▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ABA No. ▇▇-▇▇▇▇▇▇▇, Account Number ▇▇▇▇▇▇▇ in the principal amount of said Notes at the closing.

Description of Notes. Section 1.1. The Notes to be issued, sold and delivered at the closing to Purchaser without any expense to Purchaser (i) shall be in the form of registered notes specified in Schedule I hereto in the aggregate principal amount of $5,000,000 dated the Closing Date, (ii) shall bear interest from the date of issue applicable Issuance Date at the rate of 5.0020% per annum; provided, payable semiannually however, that in the event that the Issuer defaults in any payment of interest or principal on any Note when the fourth day same becomes due and payable, the portion of each March and September in each year, commencing with the fourth day principal or interest for which interest has not been paid when due or such portion of September next succeeding the date hereof (hereinafter called “Interest Payment Dates”), except that principal or interest which has not been paid when due shall bear interest at the rate of interest 25% per annum. Interest shall accrue on overdue the principal amount of the Notes on a daily basis until such time as the principal amount is paid off in full in cash in accordance with the terms of this Agreement. Interest on each Note shall be compounded annually on each anniversary of the applicable Issuance Date for such Note and, except as otherwise provided in this Agreement, shall be added at such time to, and thereafter be a part of and treated as principal of the applicable Notes (regardless of whether evidenced by a Note). The unpaid principal and premiumaccrued interest shall be due and payable in cash on the earliest of (a) June 9, if any2016, (b) the Redemption Date, with respect to all or any portion of the Notes required to be redeemed on such date in accordance with the terms of this Agreement, and (to c) the extent legally enforceable) on any overdue installment occurrence of an Event of Default (provided, however, that in the case of an Event of Default listed in Section 8.3(b), Section 8.8 or Section 8.9, the unpaid principal and accrued interest shall be 6.00% per annum after maturitydue and payable only upon the written demand of the Majority Lenders) (the earlier to occur of (a)-(c), whether by acceleration the “Maturity Date”). Interest shall be determined in all instances based upon a 365-day year (or otherwise366 days in the case of a leap year) and the actual number of days elapsed, until paidincluding the first day but excluding the payment date. Each of the Parties agrees, on behalf of itself and its successors and assigns, that notwithstanding anything to the contrary contained in any Note issued pursuant to the Prior Agreement, (i) each such Note shall be deemed amended to provide that clause (a) of the definition of “Maturity Date” shall be June 9, 2016, (ii) each such Note shall be deemed amended to provide that the subordination legend be deleted, and (iii) the Issuer shall become promptly issue replacement notes, substantially in the form set forth on Exhibit A hereto, reflecting such amended term to each holder of a Note upon presentment of such original Notes. If any payment on the Notes becomes due and payable on March 4a day other than a day on which commercial banks in New York, 2010New York and London, England are open for the transaction of normal business (iv) a “Business Day”), the maturity thereof shall be executed in the form of Exhibit A attached hereto and (v) may be in typewritten form. Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. The Notes are not subject to prepayment or redemption at the option of the Company prior to their expressed maturity dates except on the terms and conditions and in the amounts and with the premium, if any, set forth in Section 2 of this Loan Agreement. Section 1.2. Prior extended to the maturity and next succeeding Business Day and, with respect to any payment of the Notes and of any registered note or notes received in exchange therefor (the term “Notes” as used in this Agreement shall be deemed to include any registered note or notes received in exchange therefor)principal, any holder of any Note may present the Note at the Company’s office in Nashua, New Hampshire, for immediate exchange for an equal principal amount of registered Notes of other denominations having the same maturity, rate of interest and covenants as the Note so presented, and so far as consistent with their form, subject to the same terms and conditions as the Note so surrendered. Each such new Note thereon shall be payable to such person or persons as such holder may designate, and such exchange or transfer shall be made without expense to such holder, and in such manner that no gain or loss of principal or interest shall result therefrom. If any such Note is issued in the name of some person other than Purchaser, the Company reserves the right to employ a banking institution of its choice, and reasonably acceptable to Purchaser, to act as registrar of the Notes. Section 1.3. Interest and principal and premium, if any, to be paid in respect of the Notes shall be paid in such coin or currency of the United States of America as, at the time of payment, is legal tender for the payment of public and private debts and shall be payable in accordance with the provisions of Section 5.1 of this Loan Agreementthen applicable rate during such extension. Section 1.4. Purchaser shall make payment to the Company for the Notes to be purchased by Purchaser hereunder on the Closing Date (as defined in Section 3.1) by wiring Federal or other funds immediately available to the order of the Company at the principal office of Bank of America, ▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ABA No. ▇▇-▇▇▇▇▇▇▇, Account Number ▇▇▇▇▇▇▇ in the principal amount of said Notes at the closing.

Description of Notes. Section 1.1. The Notes to be issued, sold and delivered at Company has authorized the closing to Purchaser without any expense to Purchaser (i) shall be in the form issuance for exchange of registered notes specified in Schedule I hereto in the aggregate $100,000,000 ag gregate principal amount of $5,000,000 its Amended and Restated 11.5% Senior Notes (the "Notes") to be dated the Closing Date, (ii) shall bear interest from the date of issue issue, to bear interest on the unpaid principal amount from and after Fifth Amendment Effective Time to maturity at the rate of 5.00(a) if no Event of Default has occurred and is continuing, 11.5% per annum, payable semiannually on annum (the fourth day of each March and September in each year, commencing with the fourth day of September next succeeding the date hereof (hereinafter called “Interest Payment Dates”"Coupon Rate"), except that or (b) if an Event of Default has occurred and is continuing, the rate of interest Overdue Rate, and on any overdue principal and premium, if any, Make- Whole Premium and (to the extent legally enforceable) on any overdue installment of interest shall at the Overdue Rate, to mature on the Final Maturity Date, and to be 6.00% per annum after maturity, whether by acceleration or otherwise, until paid, (iii) shall become due and payable on March 4, 2010, (iv) shall be executed substantially in the form of attached hereto as Exhibit A attached hereto (Revised as of April 12, 1996); provided that, notwithstanding the terms of the Notes relating to the payment of principal and interest, on and after the Fifth Amendment Effective Time interest on and principal of such Notes shall be paid at such times and in such amounts as are provided in this Agreement; provided, further, from and after May 31, 1997 no Make-Whole Premium shall become payable with respect to the Notes. The Company will pay interest monthly in arrears on the fifth day of each month (v) may be in typewritten formbeginning May 5, 1996). Interest on the Notes shall will be computed on the basis of a 360-day year of twelve 30-day months. The Notes are not subject to prepayment or redemption at the option of the Company prior to their expressed maturity dates except on the terms and conditions and in the amounts and with the premium, if any, set forth in Section 2 of this Loan Agreement. Section 1.2. Prior to the maturity and payment of the Notes and of any registered note or notes received in exchange therefor (the term “"Notes” " as used in herein shall include each Note delivered pursuant to this Agreement shall be deemed to include any registered note or notes received in exchange therefor), any holder of any Note may present the Note at the Company’s office in Nashua, New Hampshire, for immediate exchange for an equal principal amount of registered Notes of other denominations having the same maturity, rate of interest and covenants as the Note so presented, and so far as consistent with their form, subject to the same terms and conditions as the Note so surrenderedAgree ment. Each such new Note shall be payable to such person or persons as such holder may designate, and such exchange or transfer shall be made without expense to such holder, and in such manner that no gain or loss of principal or interest shall result therefrom. If any such Note is issued in the name of some person other than Purchaser, the Company reserves the right to employ a banking institution of its choice, and reasonably acceptable to Purchaser, to act as registrar of the Notes. Section 1.3. Interest and principal and premium, if any, to be paid in respect of the Notes shall be paid in such coin or currency of the United States of America as, at the time of payment, is legal tender for the payment of public and private debts and shall be payable in accordance with the provisions of Section 5.1 of this Loan Agreement. Section 1.4. Purchaser shall make payment to the Company for the Notes to be purchased by Purchaser hereunder on the Closing Date (as defined in Section 3.1) by wiring Federal or other funds immediately available to the order of the Company at the principal office of Bank of America, ▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ABA No. ▇▇-▇▇▇▇▇▇▇, Account Number ▇▇▇▇▇▇▇ in the principal amount of said Notes at the closing.-2-

Description of Notes. Section 1.1. The Notes to be issued, sold and delivered at the closing to Purchaser without any expense to Purchaser (i) shall be in the form of registered notes specified in Schedule I hereto in the aggregate principal amount of $5,000,000 8,000,000 dated the Closing Date, (ii) shall bear interest from the date of issue at the rate of 5.007.40% per annum, payable semiannually on the fourth first day of each March and September in each year, commencing with the fourth day of September next succeeding the date hereof following its issue (hereinafter called “Interest Payment Dates”), except that the rate of interest on overdue principal and premium, if any, and (to the extent legally enforceable) on any overdue installment of interest shall be 6.008.40% per annum after maturity, whether by acceleration or otherwise, until paid, (iii) shall become due and payable on March 41, 20102021, (iv) shall be executed in the form of Exhibit A attached hereto and (v) may be in typewritten form. Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. The Notes are not subject to prepayment or redemption at the option of the Company prior to their expressed maturity dates except on the terms and conditions and in the amounts and with the premium, if any, set forth in Section 2 of this Loan Agreement. Section 1.2. Prior to the maturity and payment of the Notes and of any registered note or notes received in exchange therefor (the term “Notes” as used in this Agreement shall be deemed to include any registered note or notes received in exchange therefor), any holder of any Note may present the Note at the Company’s office in Nashua, New Hampshire, for immediate exchange for an equal principal amount of registered Notes of other denominations having the same maturity, rate of interest and covenants as the Note so presented, and so far as consistent with their form, subject to the same terms and conditions as the Note so surrendered. Each such new Note shall be payable to such person or persons as such holder may designate, and such exchange or transfer shall be made without expense to such holder, and in such manner that no gain or loss of principal or interest shall result therefrom. If any such Note is issued in the name of some person other than Purchaser, the Company reserves the right to employ a banking institution of its choice, and reasonably acceptable to Purchaser, to act as registrar of the Notes. Section 1.3. Interest and principal and premium, if any, to be paid in respect of the Notes shall be paid in such coin or currency of the United States of America as, at the time of payment, is legal tender for the payment of public and private debts and shall be payable in accordance with the provisions of Section 5.1 of this the Loan Agreement. Section 1.4. Purchaser shall make payment to the Company for the Notes to be purchased by Purchaser hereunder on the Closing Date (as defined in Section 3.1) by wiring Federal or other funds immediately available to the order of the Company at the principal office of Fleet Bank of America- N.H., ▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ABA No. ▇▇01-▇▇▇▇▇▇▇0-114-00495, Account Number ▇▇▇▇▇▇▇ in the principal amount of said Notes at the closing.

Description of Notes. Section 1.1. The Base Funding Notes to be issued, sold and delivered at the closing to Purchaser without any expense to Purchaser (i) shall be in the form of registered notes specified in Schedule I hereto in the aggregate principal amount of $5,000,000 dated the Closing Date, (ii) Contingency Funding Notes shall bear interest from the date applicable Issuance Date at the rates of issue 15% and 20% per annum, respectively; provided, however, that in the event that the Issuer defaults in any payment of interest or principal on any Note when the same becomes due and payable, the portion of the principal or interest for which interest has not been paid when due or such portion of the principal or interest which has not been paid when due shall bear interest at the rate of 5.0020% per annum, payable semiannually in the case of the Base Funding Notes, or 25% per annum, in the case of the Contingency Funding Notes. Interest shall accrue on the fourth day principal amount of each March and September the Notes on a daily basis until such time as the principal amount is paid off in each year, commencing full in cash in accordance with the fourth day terms of September next succeeding this Agreement. Interest on each Note shall be compounded annually on each anniversary of the date hereof (hereinafter called “Interest Payment Dates”)applicable Issuance Date for such Note and, except that as otherwise provided in this Agreement, shall be added at such to, and thereafter be a part of and treated as principal of the rate applicable Notes (regardless of interest on overdue whether evidenced by a Note). The unpaid principal and premiumaccrued interest shall be due and payable in cash on the earliest of (a) June 9, if any2016, (b) the Redemption Date, with respect to all or any portion of the Notes required to be redeemed on such date in accordance with the terms of this Agreement, and (to c) the extent legally enforceable) on any overdue installment occurrence of an Event of Default (provided, however, that in the case of an Event of Default listed in Section 8.3(b), Section 8.8, or Section 8.9, the unpaid principal and accrued interest shall be 6.00% per annum after maturitydue and payable only upon the written demand of the Majority Lenders) (the earlier to occur of (a)-(c), whether by acceleration the “Maturity Date”). Interest shall be determined in all instances based upon a 365-day year (or otherwise366 days in the case of a leap year) and the actual number of days elapsed, until paidincluding the first day but excluding the payment date. Each of the Parties agrees, on behalf of itself and its successors and assigns, that notwithstanding anything to the contrary contained in any Note issued pursuant to the Original Agreement, (i) each such Note shall be deemed amended to provide that clause (a) of the definition of “Maturity Date” shall be June 9, 2016, (ii) each such Note shall be deemed amended to provide that the subordination legend be deleted, and (iii) the Issuer shall become promptly issue replacement notes, substantially in the form set forth on Exhibit A-1 or Exhibit A-2 hereto (as applicable), reflecting such amended term, to each holder of a Note upon presentment of such original Notes. If any payment on the Notes becomes due and payable on March 4a day other than a day on which commercial banks in New York, 2010New York and London, England are open for the transaction of normal business (iv) a “Business Day”), the maturity thereof shall be executed in the form of Exhibit A attached hereto and (v) may be in typewritten form. Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. The Notes are not subject to prepayment or redemption at the option of the Company prior to their expressed maturity dates except on the terms and conditions and in the amounts and with the premium, if any, set forth in Section 2 of this Loan Agreement. Section 1.2. Prior extended to the maturity and next succeeding Business Day and, with respect to any payment of the Notes and of any registered note or notes received in exchange therefor (the term “Notes” as used in this Agreement shall be deemed to include any registered note or notes received in exchange therefor)principal, any holder of any Note may present the Note at the Company’s office in Nashua, New Hampshire, for immediate exchange for an equal principal amount of registered Notes of other denominations having the same maturity, rate of interest and covenants as the Note so presented, and so far as consistent with their form, subject to the same terms and conditions as the Note so surrendered. Each such new Note thereon shall be payable to such person or persons as such holder may designate, and such exchange or transfer shall be made without expense to such holder, and in such manner that no gain or loss of principal or interest shall result therefrom. If any such Note is issued in the name of some person other than Purchaser, the Company reserves the right to employ a banking institution of its choice, and reasonably acceptable to Purchaser, to act as registrar of the Notes. Section 1.3. Interest and principal and premium, if any, to be paid in respect of the Notes shall be paid in such coin or currency of the United States of America as, at the time of payment, is legal tender for the payment of public and private debts and shall be payable in accordance with the provisions of Section 5.1 of this Loan Agreementthen applicable rate during such extension. Section 1.4. Purchaser shall make payment to the Company for the Notes to be purchased by Purchaser hereunder on the Closing Date (as defined in Section 3.1) by wiring Federal or other funds immediately available to the order of the Company at the principal office of Bank of America, ▇▇▇ ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ABA No. ▇▇-▇▇▇▇▇▇▇, Account Number ▇▇▇▇▇▇▇ in the principal amount of said Notes at the closing.