Common use of Secured Instrument................ Clause in Contracts

Secured Instrument................. The Obligee hereby agrees that on the Issuance Date, subject to the terms and conditions set forth herein, the Company and the Subsidiaries shall execute and deliver to the Obligee the Secured Instrument. If the Obligee is making a loan hereunder to the Company and the Subsidiaries on the Issuance Date: the original outstanding principal amount of the Secured Instrument shall be the principal amount of such loan as specified by the Company, up to $10,000,000; there shall be only one borrowing hereunder; and if such loan is less than $10,000,000 the Obligee's commit- ment shall terminate with respect to any remaining portion of such $10,000,000. If no loan is made hereunder prior to the issuance of Preferred Stock pursuant to the Investment Agree- ment, on the Issuance Date: there shall be no borrowings here- under and the Secured Instrument shall evidence the joint and several obligation of the Company and the other Co-Makers to repurchase Preferred Stock under Section 8 of the Certificate of Designation and pay all other Secured Obligations, all of which shall be secured by the Security Documents.

Secured Instrument................. The Obligee hereby agrees that on the Issuance Date, subject to the terms and conditions set forth herein, the Company and the Subsidiaries shall execute and deliver to the Obligee the Secured Instrument. If the Obligee is making a loan hereunder to the Company and the Subsidiaries on the Issuance Date: the original outstanding principal amount of the Secured Instrument shall be the principal amount of such loan as specified by the Company, up to $10,000,000; there shall be only one borrowing hereunder; and if such loan is less than $10,000,000 the Obligee's commit- ment commitment shall terminate with respect to any remaining portion of such $10,000,000. If no loan is made hereunder prior to the issuance of Preferred Stock pursuant to the Investment Agree- mentAgreement, on the Issuance Date: there shall be no borrowings here- under hereunder and the Secured Instrument shall evidence the joint and several obligation of the Company and the other Co-Makers to repurchase Preferred Stock under Section 8 of the Certificate of Designation and pay all other Secured Obligations, all of which shall be secured by the Security Documents.