Pro Rata Payment. If the Borrower is not able to pay to the holders of the June 2008 Notes the full amounts due at any time when payments under the June 2008 Notes become due and payable by the Borrower, either on the Maturity Date or upon the occurrence of an Event of Default, the holders of the June 2008 Notes shall share ratably in any distribution of the Borrower pro rata in proportion to the respective amounts of each such holder’s June 2008 Notes.
Appears in 8 contracts
Samples: Subordinated Promissory Note (MTM Technologies, Inc.), Subordinated Promissory Note (MTM Technologies, Inc.), Subordinated Promissory Note (MTM Technologies, Inc.)
Pro Rata Payment. If the Borrower is not able to pay to the holders of the June February 28, 2008 Notes the full amounts due at any time when payments under the June February 28, 2008 Notes become due and payable by the Borrower, either on the Maturity Date or upon the occurrence of an Event of Default, the holders of the June February 28, 2008 Notes shall share ratably in any distribution of the Borrower pro rata in proportion to the respective amounts of each such holder’s June February 28, 2008 Notes.
Appears in 2 contracts
Samples: Subordinated Promissory Note (MTM Technologies, Inc.), Subordinated Promissory Note (MTM Technologies, Inc.)
