Senior Secured Note. Payment of the full amount of this Senior Note is secured by the “Collateral” identified and described as security therefor in the Security Agreement. The Company shall not, directly or indirectly, create, permit or suffer to exist, and shall defend the Collateral against and take such other action as is necessary to remove, any Lien (as defined in the Security Agreement) on or in the Collateral, or in any portion thereof, except as permitted pursuant to the Security Agreement. The rights of the Senior Noteholders in the Collateral are subordinated to the interests in such Collateral securing the Company’s Bank Borrowings (as defined in the Security Agreement).
Senior Secured Note. In reliance upon the respective representations, warranties and covenants of the Parties contained in this Agreement, and subject to satisfaction of the applicable conditions set forth in Article II of this Agreement, at the Initial Investment Closing, the Company shall issue, sell and deliver to the Purchaser, and the Purchaser shall purchase from the Company, the Senior Secured Note for an aggregate purchase price of $12,500,000 (the “Senior Secured Note Amount”).
Senior Secured Note. (ss. 11.1(a)).
Senior Secured Note. This Note shall be granted a first lien senior secured interest as evidenced by and to the extent set forth in that certain Security Agreement by and among the Borrower, its future subsidiaries (each, a “Guarantor”) and the Holder dated as of the Issuance Date (the “Security Agreement”).
Senior Secured Note. The Company shall have executed and delivered to Purchaser the Senior Secured Note.
Senior Secured Note. The Company will not permit the proceeds of the Senior Secured Note to be used for any purpose other than those permitted by this Agreement. Neither the Company nor any Person acting on behalf of the Company has taken or will take any action which might cause the Senior Secured Note to violate Regulation T, U or X or any other regulation of the Board of Governors of the Federal Reserve System or to violate Section 7 of the Securities Exchange Act of 1934 or any rule or regulation thereunder, in each case as now in effect or as the same.
Senior Secured Note. The Borrower has authorized the issuance to the Lender of its senior secured note in the aggregate principal amount of Ten Million Six Hundred Thousand Dollars ($10,600,000), to be dated the date of issue thereof, to mature on the Maturity Date, to bear interest as provided in Section 2.2 below and to be in the form of Exhibit A hereto (the “Note”). The Borrower shall repay the outstanding principal balance plus all accrued and unpaid interest on the Note in full in cash on the Maturity Date unless accelerated or prepaid. The term “
Senior Secured Note. The Borrower’s Obligations shall be evidenced by senior secured promissory notes of the Borrower (each a “Senior Secured Note”) dated as of the date of this Agreement and substantially in the form of Exhibit A attached hereto. The term “Senior Secured Note” shall include all extensions, renewals and modifications of each Senior Secured Note and all substitutions therefor. All terms and provisions of each Senior Secured Note are expressly incorporated into this Agreement. Each Senior Lender is authorized to record the date and amount of each Advance and the date and amount of each repayment of principal thereof on the schedule annexed to the related Senior Secured Note and any such recordation shall be conclusive evidence of the accuracy of the amounts so recorded (absent manifest error); provided, however, that the failure of a Senior Lender to make such recordation (or any error in such recordation) shall not affect the rights and obligations of the Borrower hereunder or under the related Senior Secured Note.
Senior Secured Note. (Section 11.1(a)).
Senior Secured Note. The Company shall issue to the Holder, on the date hereof, a Senior Secured Note due on the date that is 11 months after the date hereof in the form attached hereto as Exhibit A, in an aggregate amount equal to $3.0 million (the “August 2024 Note”) in exchange for the Holder’s Warrants. The foregoing exchange is pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended (the “Act”). The Company agrees that for purposes of Rule 144 under the Act the holding period of the Warrant shall “tack” to the holding period of the Note and the Company agrees not to take any position to the contrary.
