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amount of the stated principal amount of this Note having a term coinciding with such LIBOR <br /> Interest Period, adjusted for any reserve requirements and any subsequent costs arising from a <br /> change in government regulation [such rate shall be expressed as a percentage rounded, if <br /> necessary, to the next highest multiple of 1/100 of a percent if the rate is not such a multiple]. <br /> Issuer may make such determination based on the rate reported by any publicly available source <br /> of market data selected by Issuer that, in its sole judgment, accurately reflects such rate offered <br /> by leading banks in the London interbank market, including without limitation any of the <br /> following sources which Issuer may select to use in its sole discretion: (i) Reuters Screen <br /> LIBOR01 Page, (ii) the Wall Street Journal, "Money Rates" table (and currently defined as the <br /> British Bankers' Association average of interbank offered rates for dollar deposits in the London <br /> market), (iii) Bloomberg Financial Markets, (iv) such other comparable financial information <br /> reporting service used by Issuer at the time such rate is determined, or(v) in the event (i) through <br /> (iv) are not available or in effect at any point in time, a comparable rate selected by the holder of <br /> this Note. <br /> "LIBOR-Based Rate" shall mean, for each LIBOR Interest Period, a per annum rate of <br /> interest equal to the sum of(a) Adjusted LIBOR, plus (b) the LIBOR Margin. <br /> "LIBOR Interest Period" shall mean a period extending from (and including) the tenth <br /> (10th) day of each calendar month during which any portion of the principal balance of this Note <br /> is outstanding and ending on (and including) the ninth (9th) day of the following calendar month, <br /> provided however, if the effective date of this Note occurs other than on the tenth (10th) day of a <br /> calendar month, then the initial LIBOR Interest Period shall be the period which begins with the <br /> effective date of this Note and ends on (and including) the ninth (9th) day of the calendar month <br /> following the month in which the effective date of this Note occurs. <br /> "LIBOR Margin" shall mean two hundred seventy-five(275) Basis Points. <br /> "Loan Document" and "Loan Documents" shall have the meaning set forth in the <br /> Construction Loan Agreement. <br /> "Maturity Date" shall mean the earliest to occur of(i) the Original Maturity Date, or (ii) <br /> the date on which the Borrower achieves completion of the Repairs, or(iii) the date on which the <br /> outstanding principal balance of this Note otherwise becomes due and payable, whether by <br /> declaration or acceleration upon the occurrence of an Event of Default or by other circumstances. <br /> "Maximum Rate" shall mean the maximum rate of interest permitted by applicable law <br /> to be in effect from time to time under this Note. <br /> "Merchants Capital" shall mean Merchants Capital Corp., an Indiana corporation. <br /> "Original Maturity Date" shall mean <br /> "Partnership Agreement" shall mean the Amended and Restated Agreement of Limited <br /> Partnership of Borrower by and among the Investor Limited Partner, and <br /> dated as of <br /> "Project" shall have the meaning set forth in the Construction Loan Agreement. <br /> 3 <br />