Common use of Amendment to Existing Securities Purchase Agreement Clause in Contracts

Amendment to Existing Securities Purchase Agreement. (i) Section 4(k) of the Existing Securities Purchase Agreement is hereby amended by deleting the last sentence thereof and replacing it with the following: From and after the date hereof and until the Additional Optional Redemption Date (as defined in the Notes), the Company shall not issue any securities in a Dilutive Issuance unless, contemporaneously with the consummation of such issuance, the Company obtains an irrevocable letter of credit (each a “Letter of Credit”) issued in favor of each Buyer, in the amount of such issuance) pro rata among all Buyers based on the face amount of Notes (up to an aggregate amount of $12 million for all Buyers) by a bank acceptable to the Required Holders (as defined in the Notes) and in form and substance acceptable to the Required Holders, which Letters of Credit may be drawn upon by the applicable Buyer in connection with any payment obligation by the Company in connection with any Transaction Document. Any amounts paid by the Company from sources other than the Letter of Credit in connection with the Holder Initial Redemption or the Mandatory Redemption shall reduce the Letter of Credit on a dollar for dollar basis. The Letters of Credit, including any renewals, extensions or replacements referred to below, shall expire not earlier than ninety (90) days after the earlier of (x) the Additional Optional Redemption Date, (y) the date when all Notes have been converted in full by the Buyers and (z) the date when the balance of the Letters of Credit have been reduced to $0.