Common use of Unsecured Obligations; Subordination Clause in Contracts

Unsecured Obligations; Subordination. The Notes and the amounts payable thereunder, including principal and accrued interest, are unsecured obligations of the Company, and shall be subordinate and junior to indebtedness incurred by the Company pursuant to: (i) currently existing equipment financings; (ii) currently existing debt of $585,000 secured by certain revenues pursuant to a Loan Agreement dated May 10, 1999; and (iii) up to an aggregate of $6,000,000 of indebtedness of the Company currently existing or hereinafter incurred by the Company under a working capital facility with First National Bank of Florida, or the renewal, modification, refinancing or replacement thereof with a financial institution, bank or commercial lender. Except as set forth in the preceding sentence, the Notes shall not be subordinate or junior to any other indebtedness of the Company.

Unsecured Obligations; Subordination. The Notes This Note and the amounts payable thereunderhereunder, including principal and accrued interest, are unsecured obligations of the Company, and shall be subordinate and junior to indebtedness incurred by the Company pursuant to: to (i) currently existing equipment financings; , (ii) currently existing debt of $585,000 secured by certain revenues pursuant to a Loan Agreement dated May 10, 1999; and (iii) up to an aggregate of $6,000,000 of indebtedness of the Company currently presently existing or hereinafter incurred by the Company under a working capital facility with First National Bank of Florida, or the renewal, modification, refinancing renewal or replacement thereof with a financial institution, bank or commercial lenderlender (collectively, the "Senior Debt"). Except as set forth in the preceding sentence, the Notes shall not be subordinate or junior to any other indebtedness of the Company.

Unsecured Obligations; Subordination. The Notes and the amounts payable thereunder, including principal and accrued interest, are unsecured obligations of the Company, and shall be subordinate and junior to indebtedness incurred by the Company pursuant to: to (i) currently existing equipment financings; , (ii) currently existing debt of $585,000 secured by certain revenues pursuant to a Loan Agreement dated May 10, 1999; and (iii) up to an aggregate of $6,000,000 of indebtedness of the Company currently presently existing or hereinafter incurred by the Company under a working capital facility with First National Bank of Florida, or the renewal, modification, refinancing or replacement thereof with a financial institution, bank or commercial lender. Except as set forth in the preceding sentence, the Notes shall not be subordinate or junior to any other indebtedness of the Company.

Unsecured Obligations; Subordination. The Notes This Note and the amounts payable thereunderhereunder, including principal and accrued interest, are unsecured obligations of the Company, and shall be subordinate and junior to indebtedness incurred by the Company pursuant to: to (ia) currently existing equipment financings; , (iib) currently existing debt of approximately $585,000 secured by certain revenues pursuant to a Loan Agreement dated May 10, 1999; and (iiic) up to an aggregate of $6,000,000 of indebtedness of the Company currently existing or hereinafter incurred by the Company under a working capital facility with First National Bank of Florida, or the renewal, modification, refinancing renewal or replacement thereof with a any financial institution, bank or commercial lenderlender (collectively, the "Senior Debt"). Except as set forth in the preceding sentence, the Notes shall not be subordinate or junior to any other indebtedness of the Company.