TERM NOTE

Contract Categories: Business Finance - Note Agreements
EX-10.63 5 g08696exv10w63.htm EX-10.63 FORM OF SECOND LIEN TERM NOTE EX-10.63 Form of Second Lien Term Note
 

Exhibit 10.63
TERM NOTE
___________
     FOR VALUE RECEIVED, the undersigned (the “Borrower”), hereby promises to pay to ____________ or its registered assigns (the “Lender”), in accordance with the provisions of the Credit Agreement (as hereinafter defined), the principal amount of each Term Loan from time to time made by the Lender to the Borrower under that certain Second Lien Senior Secured Credit Agreement, dated as of July [ ], 2007 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined), among Terremark Worldwide, Inc., the Lenders from time to time party thereto and Credit Suisse, acting through one or more of its branches, or any Affiliate thereof (collectively, “Credit Suisse”), as Administrative Agent and as Collateral Agent.
     The Borrower promises to pay interest on the unpaid principal amount of each Term Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Credit Agreement. All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds, pursuant to the terms of the Credit Agreement. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Credit Agreement.
     This Term Note is one of the Term Notes referred to in the Credit Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided therein. This Term Note is also entitled to the benefits of the Subsidiary Guaranty and is secured by the Collateral. Upon the occurrence and continuation of one or more of the Events of Default specified in the Credit Agreement, all amounts then remaining unpaid on this Term Note shall in certain circumstances become, or may be declared to be, immediately due and payable all as provided in the Credit Agreement. Term Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to this Term Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto.
     The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Term Note.
     THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
         
  TERREMARK WORLDWIDE, INC.
 
 
  By:      
    Name:      
    Title:      
 
Second Lien Term Note

 


 

LOANS AND PAYMENTS WITH RESPECT THERETO
                                         
 
                          Amount of     Outstanding        
                    End of     Principal or     Principal        
        Type of Loan     Amount of     Interest     Interest Paid     Balance     Notation  
  Date     Made     Loan Made     Period     This Date     This Date     Made By  
 
 
                                     
 
 
                                     
 
 
                                     
 
 
                                     
 
 
                                     
 
 
                                     
 
 
                                     
 
 
                                     
 
 
                                     
 
 
                                     
 
 
                                     
 
 
                                     
 
 
                                     
 
Second Lien Term Note