Effect of Subordination. Subject to the rights, if any, of the holders of Senior Indebtedness under this Section 4 to receive cash, securities or other properties otherwise payable or deliverable to the Holder of this Note, nothing contained in this Section 4 shall impair, as between the Company and the Holder, the obligation of the Company, subject to the terms and conditions hereof, to pay to the Holder the principal hereof and interest hereon as and when the same become due and payable, or shall prevent the Holder of this Note, upon default hereunder, from exercising all rights, powers and remedies otherwise provided herein or by applicable law.
Appears in 19 contracts
Samples: Note Purchase Agreement (Orion Energy Systems, Inc.), Note and Warrant Purchase Agreement (Stereotaxis, Inc.), Note and Warrant Purchase Agreement (Stereotaxis, Inc.)
Effect of Subordination. Subject to the rights, if any, of the holders of Senior Indebtedness under this Section 4 3 to receive cash, securities or other properties otherwise payable or deliverable to the Holder of this Note, nothing contained in this Section 4 3 shall impair, as between the Company and the Holder, the obligation of the Company, subject to the terms and conditions hereof, to pay to the Holder the principal hereof and interest hereon as and when the same become due and payable, or shall prevent the Holder of this Note, upon default hereunder, from exercising all rights, powers and remedies otherwise provided herein or by applicable law.
Appears in 3 contracts
Samples: Convertible Subordinated Note and Warrant Purchase Agreement (Netzero Inc), Convertible Note Purchase Agreement (Third Wave Technologies Inc /Wi), Gadzooks Inc
Effect of Subordination. Subject to the rights, if any, of the holders of Senior Indebtedness under this Section 4 to receive cash, securities securities, or other properties otherwise payable or deliverable to the Holder of this Note, nothing contained in this Section 4 shall impair, as between the Company and the HolderHolder of this Note, the obligation of the Company, subject to the terms and conditions hereof, to pay to the Holder of this Note the principal hereof and interest hereon as and when the same become due and payable, or shall prevent the Holder of this Note, upon default hereunder, from exercising all rights, powers powers, and remedies otherwise provided herein or by applicable law.
Appears in 2 contracts
Samples: Purchase Agreement (Lubys Inc), Credit Agreement (Lubys Inc)
Effect of Subordination. Subject to the rights, if any, of the holders of Senior Indebtedness under this Section 4 to receive cash, securities or other properties otherwise payable or deliverable to the Holder of this NoteHolder, nothing contained in this Section 4 shall impair, as between the Company and the Holder, the obligation of the Company, subject to the terms and conditions hereofof this Section 4, to pay to the Holder the principal hereof and interest hereon as and when the same become due and payable, or shall prevent the Holder of this NoteHolder, upon default hereunder, from exercising all rights, powers and remedies otherwise provided herein or by applicable law.
Appears in 2 contracts
Samples: Subordinated Note (Etelos, Inc.), Gi Joes Inc
Effect of Subordination. Subject to the rights, if any, of the holders lenders of Senior Indebtedness under this Section 4 5 to receive cash, securities or other properties otherwise payable or deliverable to the Holder of this Note, nothing contained in this Section 4 5 shall impair, as between the Company and the HolderLender, the obligation of the Company, subject to the terms and conditions hereof, to pay to the Holder Lender the principal hereof and interest hereon as and when the same become due and payable, or shall prevent the Holder of this Note, upon default hereunder, from exercising all rights, powers and remedies otherwise provided herein or by applicable law.
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Effect of Subordination. Subject to the rights, if any, of the holders of Senior Indebtedness under this Section 4 to receive cash, securities or other properties otherwise payable or deliverable to the Holder of this Note, nothing contained in this Section 4 shall impair, as between the Company Corporation and the Holder, the obligation of the CompanyCorporation, subject to the terms and conditions hereof, to pay to the Holder the principal hereof and interest hereon as and when the same become due and payable, or shall prevent the Holder of this Note, upon default hereunder, from exercising all rights, powers and remedies otherwise provided herein or by applicable law.
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Effect of Subordination. Subject to the rights, if any, of the holders of Senior Indebtedness under this Section 4 6 to receive cash, securities securities, or other properties otherwise payable or deliverable to the Holder of this Note, nothing contained in this Section 4 6 shall impair, as between the Company and the Holder, the obligation of the Company, subject to the terms and conditions hereof, to pay to the Holder the principal hereof and interest hereon as and when the same become due and payable, or shall prevent the Holder of this Note, upon default hereunder, from exercising all rights, powers powers, and remedies otherwise provided herein or by applicable law.
Appears in 1 contract
Samples: Note and Warrant Purchase Agreement (Kona Grill Inc)
Effect of Subordination. Subject to the rights, if any, of the holders of Senior Indebtedness under this Section 4 3 to receive cash, securities or other properties otherwise payable or deliverable to the Holder of this Note, nothing contained in this Section 4 3 shall impair, as between the Company and the Holder, the obligation of the Company, subject to the terms and conditions hereof, to pay to the Holder the principal hereof and interest hereon as and when the same become due and payable, or shall prevent the Holder of this Note, upon default hereunder, from exercising all rights, powers and remedies otherwise provided herein or by applicable law.
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