Exchange Note Supplement; Principal Terms Sample Clauses
The "Exchange Note Supplement; Principal Terms" clause defines the key terms and conditions specific to an exchange note issued under a broader agreement. It typically outlines details such as the principal amount, interest rate, maturity date, and any special provisions or covenants that apply to the particular note. By clearly specifying these principal terms, the clause ensures both parties have a mutual understanding of the essential financial and legal parameters of the exchange note, thereby reducing ambiguity and potential disputes.
Exchange Note Supplement; Principal Terms. On or before the delivery of an Exchange Note to the Administrative Agent for authentication, the Borrowers, the Lender, the Administrative Agent and the Collateral Agent will execute and deliver an Exchange Note Supplement which will state the principal terms of the Exchange Note, including:
(i) its issuance date (each, an "Exchange Note Issuance Date");
(ii) its name or designation;
(iii) its class and any rights and priorities of the class;
(iv) its initial Exchange Note Balance;
(v) the Cutoff Date for its Reference Pool;
(vi) its Exchange Note Interest Rate and, for a floating rate Exchange Note, the manner of determining the floating rate;
(vii) the Exchange Note Events of Default in Section 6.4 that are inapplicable or are modified and any additional events that will be Exchange Note Events of Default;
(viii) its Final Scheduled Payment Date; and
(ix) any other material terms.