Common use of Transfer and Exchange of Note Clause in Contracts

Transfer and Exchange of Note. Upon surrender of the Note to Borrower at the address and to the attention of the designated officer (as specified in Section 11(h) below), for registration of transfer or exchange (and in the case of a surrender for registration of transfer accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder’s attorney duly authorized in writing and accompanied by the relevant name, address and other information for notices of each transferee of such Note or part thereof), within ten (10) Business Days thereafter, Borrower shall execute and deliver, at Borrower’s expense, one or more new Notes (as requested by the holder thereof) in exchange therefor, in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of the Note. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note.