Liquidation Priority. In a Liquidity Event or Dissolution Event, this Loan is intended to have the same liquidation priority as other unsecured indebtedness of the Company. The Investor’s right to receive its Loan Amount shall be (a) on par with payments of other unsecured outstanding indebtedness and creditor claims, including contractual claims for payment and convertible loans or promissory notes (to the extent such convertible loans and promissory notes are not actually or notionally converted into Capital Stock), and (b) senior to payments for Capital Stock.
Appears in 2 contracts
Sources: Loan Agreement, Loan Agreement