Common use of Company Loans Clause in Contracts

Company Loans. Upon the closing of a transaction approved by the Company's Board of Directors involving a Change in Control or a Significant Event, all amounts outstanding with respect to the Loans made by Company to Executive and listed on Schedule A hereto, shall be forgiven on a pro rata basis over a four (4) year period commencing on the Executive's original date of employment by the Company (including any accrued and unpaid interest).

Company Loans. Upon the closing of a transaction approved by the Company's Board of Directors involving a Change in of Control or a Significant Event, all amounts outstanding with respect to the Loans made by Company to Executive and listed on Schedule A hereto, shall be forgiven on a pro rata basis over a four (4) year period commencing on the Executive's original date of employment by the Company (including any accrued and unpaid interest).