Common use of Direct Payments Clause in Contracts

Direct Payments. As long as a Series 1 Stockholder or any institutional holder which is a direct or indirect transferee (as a result of one or more transfers) from a Series 1 Stockholder shall be the holder of any Shares, the Company will make all redemption payments, liquidation payments and other distributions by wire transfer to such Series 1 Stockholders's or such other holder's (or its nominee's) account at any bank or trust company, notwithstanding any contrary provision herein or in the Company's certificate of incorporation with respect to the place of payment. The Series 1 Stockholders have provided an address on Schedule 1 hereto for payments by wire transfer, and such address may be changed for the Series 1 Stockholders or any subsequent holder by notice to the Company. All such payments shall be made in U.S. dollars and in federal or other immediately available funds.