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<br />for a description of the Collateral and the rights, remedies <br />and obligations of the holder hereof in respect thereto. <br />Owners shall be entitled to partial releases of shares of the <br />Collateral from the encumbrance of the Security Documents upon <br />the making of certain payments hereunder as described in the <br />Loan Agreement. <br /> <br />Time is of the essence hereof. In the event of any <br />default or event of default by or allocated to any Owner under <br />the provisions of the Loan Agreement or the security <br />Documents, and such is not cured within the applicable grace <br />or cure period therefor, then the whole principal sum of the <br />portion of this Note to which such Owner's default relates <br />(but not any other portion) plus accrued interest thereon <br />shall, at the option of the holder of this Note, become <br />immediately due and payable without notice or demand, and the <br />holder of this Note shall have and may exercise any or all of <br />the rights and remedies provided herein and in the Loan <br />Agreement and the Security Documents, but only to the extent <br />applicable to the defaulting Owner's portion of this Note. <br /> <br />Notwithstanding anything to the contrary herein or in <br />the Security Documents, in the event of a default under this <br />Note or the Security Documents, Payee shall look only to the <br />applicable Collateral encumbered by the Security Documents for <br />repayment of amounts due hereunder, and shall not look to any <br />other Collateral, the Company or any officer, director or <br />shareholder thereof for any amounts determined to be owed, <br />including any deficiencies between the amounts owed and the <br />value of the applicable Collateral. <br /> <br />If the Company fails to pay any amount due under this <br />Note and Payee has to take any action to collect the amount <br />due or to exercise its rights under the Security Documents, <br />including without limitation retaining attorneys for <br />collection of this Note, or if any suit or proceeding is <br />brought for the recovery of all or any part of or for <br />protection of the indebtedness or to foreclose the Security <br />Documents, then Payee may recover from the Collateral of the <br />Owner whose portion is in default (but not from any other <br />Collateral) all reasonable costs and expenses of any such <br />action to collect, suit or proceeding, or any appeal of any <br />such suit or proceeding, incurred by Payee, including <br />reasonable fees of Payee's attorneys. <br /> <br />The Company waives presentment, notice of dishonor, <br />notice of acceleration and protest, and assents to any <br />extension of time with respect to any payment due under this <br />Note, to any substitution or release of Collateral and to the <br />addition or release of any party. No waiver of any payment or <br /> <br />A-2 <br />