Advances and Loans; Affiliate Transactions. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s written consent, lend money, give credit, make advances to or enter into any transaction with any person, firm, joint venture or corporation, including, without limitation, officers, directors, employees, subsidiaries and affiliates of the Borrower, except loans, credits or advances (a) in existence or committed on the Issue Date and which the Borrower has informed Holder in writing prior to the Issue Date, (b) in regard to transactions with unaffiliated third parties, made in the ordinary course of business, (c) in regard to transactions with unaffiliated third parties, not in excess of $100,000 or (d) on terms not less favorable to the Borrower than those that would have been obtained from an unaffiliated third party. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s written consent, repay any affiliate (as defined in Rule 144) of the Borrower in connection with any Indebtedness or accrued amounts owed to any such party other than Indebtedness permitted to exist by Section 2.2 of this Note.
Appears in 6 contracts
Samples: Securities Purchase Agreement (NKGen Biotech, Inc.), Registration Rights Agreement (NKGen Biotech, Inc.), Registration Rights Agreement (NKGen Biotech, Inc.)
