6Additional Debt Clause Samples

6Additional Debt. ▇▇▇▇▇▇ acknowledges and agrees that Borrower may issue additional debentures on substantially the same terms as the Debentures to the Lender and/or to other lenders. Borrower hereby agrees that in the event Borrower issues additional debentures or other debt instruments on terms that are, considering the applicable interest rate and warrant coverage and warrant price, more favorable to another lender than those contemplated in the Transaction Documents, then Borrower shall notify Lender of such transaction and, upon ▇▇▇▇▇▇’s request (which must be made within thirty (30) days of Lender’s receipt of such notice), adjust the interest rate under the Debentures and/or the warrant coverage and warrant price contemplated by the Transaction Documents to match the terms of such subsequent transaction. In the event that Borrower seeks to issue additional debentures or equity Lender shall have the right of first refusal to purchase said debentures or equity. Borrower shall provide written notice of the offer to sell additional debentures or equity to Lender who shall have 30 days to elect to exercise their right of first refusal; if not exercised, Borrower is free to sell to any third party on the offered terms.