Security Interest; Subordination. This Note is a direct debt obligation of the Company and, pursuant to the Security Agreement is secured by a first priority perfected security interest in all of the assets of the Company for the benefit of the Holders.
Appears in 2 contracts
Samples: Convertible Security Agreement (Grant Life Sciences, Inc.), Convertible Security Agreement (National Investment Managers Inc.)
Security Interest; Subordination. This Note is a direct debt obligation of the Company and, pursuant to the Security Agreement is secured by a first second priority perfected security interest in all of the assets of the Company for the benefit of the Holders. The obligations of the Company to the Holders are subordinated in right of payment to the obligations owing to the holders of the 8% Senior Subordinated Secured Convertible Notes of the Company.
Appears in 2 contracts
Samples: Security Agreement (Knobias, Inc.), Convertible Security Agreement (Knobias, Inc.)
Security Interest; Subordination. This Note is a direct debt obligation of the Company and, pursuant to the Security Agreement is secured by a first second priority perfected security interest in all of the assets of the Company for the benefit of the Holders. The obligations of the Company to the Holders are subordinated in right of payment to the obligations owing to the holders of the 8% Notes.
Appears in 1 contract
