Common use of Million Note Clause in Contracts

Million Note. Unless the same shall become due earlier as a result of acceleration of the maturity, the $34 Million Note shall mature on the earlier of (i) the Initial Closing (as such term is defined in the Purchase Agreement) of the Alterra Equity Transaction or (ii) the initial closing of a Financing Proposal that is a Superior Proposal (as such terms are defined in the Purchase Agreement) or (iii) February 2, 2001, at which time the outstanding principal balance of the $34 Million Loan and all accrued and unpaid interest and facility fees shall become due and payable.

Million Note. Unless the same shall become due earlier as a result of acceleration of the maturity, the $34 25 Million Note shall mature on the earlier of (i) the Initial Closing (as such term is defined in the Purchase Agreement) of the Alterra Equity Transaction or (ii) the initial closing Initial Closing of a Financing Proposal that is a Superior Proposal (as such terms are defined in the Purchase Agreement) or (iii) February 2June 30, 20012000, at which time the outstanding principal balance of the $34 25 Million Loan and all accrued and unpaid interest and facility fees shall become due and payable.