Common use of SBA Loan Redemption Clause in Contracts

SBA Loan Redemption. From the date hereof until the date that the Notes are no longer outstanding, upon any issuance by the Company or any of its Subsidiaries of Indebtedness evidenced by a Small Business Administration loan (a “SBA Financing”), the Holder shall have the right, upon one (1) day written notice (the “SBA Financing Redemption Date”), to require the Company to use 50% of the gross proceeds received in such SBA Financing, to the extent not prohibited under the terms of the SBA Financing (the “SBA Financing Redemption Amount”), to redeem the Note at the Optional Redemption Amount (the “SBA Financing Redemption”). The SBA Financing Redemption Amount payable on the SBA Financing Redemption Date shall be paid in cash.

SBA Loan Redemption. From the date hereof until the date that the Notes are Note is no longer outstanding, upon any issuance by the Company or any of its Subsidiaries of Indebtedness evidenced by a Small Business Administration loan (a “SBA Financing”), the Holder shall have the right, upon one (1) day written notice (the “SBA Financing Redemption Date”), to require the Company to use 50% of the gross proceeds received in such SBA Financing, to the extent not prohibited under the terms of the SBA Financing (the “SBA Financing Redemption Amount”), to redeem the Note at the Optional Redemption Amount (the “SBA Financing Redemption”). The SBA Financing Redemption Amount payable on the SBA Financing Redemption Date shall be paid in cash. The Company shall provide the Holder with prompt written notice upon consummation of any SBA Financing.