Common use of No Preferential Treatment Clause in Contracts

No Preferential Treatment. Until all of the Company's obligations hereunder are paid and performed in full, the Company shall not, without the prior consent of the Investor, (a) make any payment or other consideration with respect to any Other Note unless the Company makes the same payment or other consideration with respect to the Note, pro rata based on the relative principal amounts of the Note and Other Notes; or (b) amend or waive any provision of any Other Purchase Agreement, Other Note or Other Warrant that would (i) increase the interest rate of such Other Note, (ii) shorten the maturity date of such Other Note, (iii) provide for any payments of principal prior to maturity under such Other Note, or (iv) otherwise materially adversely affect the rights of the Investor hereunder or under the Note or Warrant.

Appears in 5 contracts

Samples: Note and Warrant Purchase Agreement (Galaxy Nutritional Foods Inc), Note and Warrant Purchase Agreement (Galaxy Nutritional Foods Inc), Registration Rights Agreement (Galaxy Nutritional Foods Inc)

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