Additional Lender Rights. No renewal or extension of this Note, delay in enforcing any right of the Lender under this Note, or assignment by Lender of this Note shall affect the liability or the obligations of the Borrower. All rights of the Lender under this Note are cumulative and may be exercised concurrently or consecutively at the Lender's option.
Additional Lender Rights. Lender will have the right of first refusal for three business days after receipt of notice for any future financing. Lender shall have the right of first refusal on future Financings for the Borrower for a period of two (2) years including debt and equity private placements and an initial public offering of the Company’s securities and shall have the right to designate the managing underwriter or lead placement agent for any such financing(s). In connection with any public offering, the Borrower and the designated managing underwriter or lead placement agent shall negotiate in good faith and enter into a customary underwriting agreement which will contain, among other things, provisions for fees, representations and indemnification that are customary for transactions of similar size and nature
Additional Lender Rights. Upon the occurrence of a Default, without waiving the Default or any right of acceleration or foreclosure under the Loan Documents which Lender may have by reason of such Default or any other right Lender may have against Borrower because of said Xxxxxxx, Lender will have the right (but not the obligation) to take such actions and make such payments as may be necessary to cure such Default. Xxxxxxxx will reimburse Lender upon demand for all amounts so expended, and such obligation will constitute an Obligation of Borrower.
Additional Lender Rights. 1.2.1. Notwithstanding any other provision of the Note to the contrary, Lender shall have the option, at any time during the Forbearance Period in one or more conversions, to convert all or any part of the obligations outstanding under the Note (the “Conversion Amount”) into validly issued, fully paid and non-assessable shares of common stock of Borrower by delivering a notice to Borrower setting forth the date of conversion and the aggregate amount of obligations under the Note to be converted. The number of shares of common stock of Borrower to be issued to Lender for each conversion shall be determined by dividing the Conversion Amount by the lesser of (i) the 5 day average VWAP (as defined in the Warrants) on the immediately preceding Trading Day (as defined in the Warrants) of the applicable notice of conversion or (ii) the closing price of the common stock of the issuer on its principal Trading Market (as defined in the Warrants) on the Trading Day immediately preceding the applicable notice of conversion. All such shares of common stock issuable upon a notice of conversion shall be covered under the Borrower’s existing registration statement on Form S-3 and be immediately available for re-sale by Lender. All shares of common stock to be issued upon a conversion shall be delivered by Borrower to Lender within one (1) Trading Day, subject to compliance with the volume limitations of the principal Trading Market. At the election of Xxxxxx, Xxxxxx may surrender the Note to the Borrower upon a conversion and Borrower shall issue a replacement promissory note to Lender reflecting the then outstanding amount due under the Note.
Additional Lender Rights. 7.02.01. Notwithstanding anything contained herein to the contrary, in addition to any other rights herein, the Lender reserves the right to deny any request for an Advance: (i) if the request for an Advance is not accompanied by sufficient supporting papers, documentation, or substantiation, as reasonably determined by the Lender; (ii) the Lender believes that the request does not comply with the Purpose or with any of the terms and provisions of this Loan Agreement; (iii) any documents required by the Lender are not in a form and substance reasonably acceptable to the Lender; or (iv) the Lender determines that a material adverse change has occurred to the market value of any of the collateral for the Loan or to the financial condition of any party to the Loan, at any time after the date of this Loan Agreement.
Additional Lender Rights
