Common use of Repayment of This Note Clause in Contracts

Repayment of This Note. If the Company or any Subsidiary issues any debt other than the Permitted Debt, including any subordinated debt or convertible debt (other than the Note), or any Preferred Stock, other than Exempted Securities, unless otherwise waived in writing by and at the discretion of the Holder, the Company will immediately utilize the proceeds of such issuance (or cause such Subsidiary to immediately utilize the proceeds of such issuance) to repay the Note. If the Company issues any Equity Interests for aggregate proceeds to the Company of greater than $20,000,000, excluding offering costs or other expenses, unless otherwise waived in writing by and at the discretion of the Holder, the Company will direct 20% of such proceeds from such issuance to repay this Note, which repayment shall be without premium or penalty.

Repayment of This Note. If the Company or any Subsidiary issues any debt other than the Permitted Debtdebt, including any subordinated debt or convertible debt (other than the Note or any other “Note” as defined in the Purchase Agreement), or any Preferred Stock, other than Exempted Securities, unless otherwise waived in writing by and at the discretion of the Holder, the Company will immediately utilize the proceeds of such issuance (or cause such Subsidiary to immediately utilize the proceeds of such issuance) to repay the this Note. If , and if the Company issues any Equity Interests other than Exempted Securities for aggregate proceeds to the Company of greater more than ten million dollars ($20,000,000, excluding offering costs or other expenses10,000,000), unless otherwise waived in writing by and at the discretion of the Holder, the Company will direct unless otherwise waived in writing by and at the discretion of the Investor, the Company will direct twenty percent (20% %) of such the proceeds from such issuance to repay this Note, which repayment shall be without premium or penalty.