Common use of Designation of Notes; Certain Related Provisions Clause in Contracts

Designation of Notes; Certain Related Provisions. The Notes shall be designated generally as the "IP Holdings LLC Asset-Backed Notes" of the Issuer. The Notes and all accrued interest thereon shall be due and payable on the Legal Maturity Date to the extent not paid before such date. All calculations of interest on the Notes are to be determined on the basis of a 360-day year of twelve 30-day months. The aggregate Initial Note Principal Balance of the Notes that may be authenticated and delivered hereunder is limited to $63,000,000, except for Notes issued and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes, pursuant to Sections 3.4, 3.6 or 10.4 hereof. The Notes are limited obligations of the Issuer, payable solely from and to the extent of the Collateral subject to the Lien of the Indenture.

Designation of Notes; Certain Related Provisions. The Notes shall be designated generally as the "7.93% IP Holdings LLC Asset-Backed Notes" of the Issuer. The Notes and all accrued interest thereon shall be due and payable on the Legal Maturity Date to the extent not paid before such date. All calculations of interest on the Notes are to be determined on the basis of a 360-day year of twelve 30-day months. The aggregate Initial Note Principal Balance of the Notes that may be authenticated and delivered hereunder is limited to $63,000,00020,000,000, except for Notes issued and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes, pursuant to Sections 3.4, 3.6 or 10.4 hereof. The Notes are limited obligations of the Issuer, payable solely from and to the extent of the Collateral subject to the Lien of the Indenture.