Common use of Restriction on Stock Repurchases and Debt Repayments Clause in Contracts

Restriction on Stock Repurchases and Debt Repayments. So long as the Borrower shall have any obligation under this Note, the Borrower shall not without the Holder’s written consent redeem, repurchase or otherwise acquire (whether for cash or in exchange for property or other securities or otherwise) in any one transaction or series of related transactions any shares of capital stock of the Borrower or any warrants, rights or options to purchase or acquire any such shares, or repay any indebtedness of Borrower other than this Note, Indebtedness permitted to exist by Section 2.2 of this Note, any convertible notes outstanding on the date hereof, and any convertible notes which may become outstanding in the next sixty (60) days.