EQUAL RANK. This Note represents one of a series of up to One Million Dollars ($1,000,000) principal amount of 10% Series A Convertible Notes (the "Notes") issued or to be issued by the Company. All Notes rank equally and ratably without priority over one another.
EQUAL RANK. The Notes rank equally and ratably without priority over one another. No payment, including any prepayment, shall be made hereunder unless payment, including any prepayment, is made with respect to the other Notes in an amount which bears the same ratio to the then unpaid balance on such other Notes as the payment made hereon bears to the then unpaid balance under this Note.
EQUAL RANK. All Class 3 Notes of this issue rank equally and ratably without priority over one another.
EQUAL RANK. All notes of this issue and series rank equally and ratably without priority over one another.
EQUAL RANK. This Note represents one of a series of Amended Notes that are amendments of a series of One Million Dollars ($1,000,000) principal amount of 10% Series A Convertible Notes previously issued by the Company. All Amended Notes rank equally and ratably without priority over one another.
EQUAL RANK. All shares of Series A Preferred Stock shall be identical in all respects, and all shares of Series A Preferred Stock shall be of equal rank with (i) shares of $3.75 Convertible Preferred Stock, Series B, and (ii) $2.50 Convertible Preference Stock, Series C, in respect of the preference as to dividends and to payments upon the Liquidation of the Corporation."
(c) paragraph (g) of Subsection E of Section IV of such certificate, titled "Equal Rank," shall have been amended to read in its entirety as follows:
EQUAL RANK. All shares of Series B Preferred Stock shall be identical in all respects, and all shares of Series A Preferred Stock shall be of equal rank with (i) shares of $2.85 Non-Voting Cumulative Preferred Stock, Series A, and (ii) $2.50 Convertible Preference Stock, Series C, in respect of the preference as to dividends and to payments upon the Liquidation of the Corporation."
(d) Either a certificate of amendment or a certificate of restatement of such certificate, reflecting the amendments set forth in paragraphs (a) through (c), shall have been filed in the office of the Secretary of State of the State of New Jersey, pursuant to Section 14A:9-4(5) or Section 14A:9-5(5) of the New Jersey Business Corporation Act.
EQUAL RANK. The obligations of the Borrower under this Agreement constitute and will constitute its direct, absolute, unconditional and general obligation and will rank at all times at least pari-passu in priority of payment and in all respects with all its other unsecured indebtedness with the exception of those which have preference solely by operation of law.
EQUAL RANK. All debentures of this issue rank equally and ratably ---------- without priority over one another.
