Common use of NO RIGHT OR OBLIGATION TO ACQUIRE SECURITIES Clause in Contracts

NO RIGHT OR OBLIGATION TO ACQUIRE SECURITIES. This Note shall not constitute a warrant, option or other right, or any agreement or obligation, on the part of the Lender to purchase or otherwise acquire any Stock or other securities of the Company, or to make any payments to the Company in respect thereof. Rather, this Note evidences obligations on the part of Borrower to make monetary payments to Lender, the amount of which is measured by the profit which Lender would have realized if the Company had issued to Lender on the date hereof a warrant to purchase shares of Stock of the Company and Lender had exercised such warrant, in whole or in part, at such time or times as Lender determined, and immediately sold the shares of Stock issued upon such exercise. The monetary payments which Borrower is obligated to make hereunder shall be payable, without setoff or counterclaim, in lawful money of the United States of America.

NO RIGHT OR OBLIGATION TO ACQUIRE SECURITIES. This Note shall not constitute a warrant, option or other right, or any agreement or obligation, on the part of the Lender to purchase or otherwise acquire any Stock or other securities of the Company, or to make any payments to the Company in respect thereof. Rather, this Note evidences obligations on the part of Borrower Maker to make monetary payments to Lender, the amount of which is measured by the profit which Lender would Lendxx xxxld have realized if the Company had issued to Lender on the date hereof a warrant to purchase shares of Stock of the Company and Lender had exercised such warrant, in whole or in part, at such time or times as Lender determined, and immediately sold the shares of Stock issued upon such exercise. The monetary payments which Borrower Maker is obligated to make hereunder shall be payable, without setoff or counterclaim, in lawful money of the United States of America.