Common use of Variable Funding Note Clause in Contracts

Variable Funding Note. The Borrower has heretofore delivered or shall, on the Third Amendment Effective Date (and on the terms and subject to the conditions hereinafter set forth), deliver to the Note Purchaser at the address set forth in Section 11.02, a duly executed variable funding note (the “Variable Funding Note”), in substantially the form of Exhibit I, in an aggregate face amount equal to $500,000,000, and otherwise duly completed. Interest shall accrue on the Variable Funding Note, and the Variable Funding Note shall be payable, as described herein.