Common use of Rights of Holders Unimpaired Clause in Contracts

Rights of Holders Unimpaired. The foregoing provisions as to subordination are solely for the purpose of defining the relative rights of the holders of the Senior Debt on the one hand and the Holder on the other hand. None of such provisions shall impair, as between the Company and the Holder, the obligation of the Company, which is unconditional and absolute, to pay the Holder of this Debenture the amounts due on this Debenture in accordance with the terms hereof and of the Purchase Agreement, nor shall any such provisions prevent the Holder from exercising all remedies otherwise permitted by law. Moreover, nothing contained herein shall be deemed to limit in any way the right of the Holder to convert, at any time and from time to time, the principal balance of this Debenture into shares of GGD Stock pursuant to Section 1 hereof or to receive shares of GGD Stock as payment of interest hereon pursuant to Section 3 hereof.

Rights of Holders Unimpaired. The foregoing provisions as to subordination are solely for the purpose of defining the relative rights of the holders of the Senior Debt on the one hand and the Holder on the other hand. None of such provisions shall impair, as between the Company and the Holder, the obligation of the Company, which is unconditional and absolute, to pay the Holder of this Debenture Note the amounts due on this Debenture Note in accordance with the terms hereof and of the Note Purchase Agreement, nor shall any such provisions prevent the Holder from exercising all remedies otherwise permitted by law. Moreover, nothing contained herein shall be deemed to limit in any way the right of the Holder to convert, at any time and from time to time, the principal balance of this Debenture Note into shares of GGD GTR Stock (as defined below) pursuant to Section 1 3 hereof or to receive shares of GGD GTR Stock as payment of interest hereon pursuant to Section 3 2 hereof.