Common use of Loss of S Corporation Status Clause in Contracts

Loss of S Corporation Status. Except as a result of the consummation of (i) an underwritten initial public offering of the Common Stock of the Company pursuant to which the Company obtains a listing for its Common Stock on a United States national securities exchange, the Nasdaq National Market System, or an automated quotation system of nationally recognized standing or (ii) the sale of Equity Interests by or the merger of the Company, the proceeds of which are used to prepay the principal, interest, premium, fees and expenses on the Notes in full concurrently with the issuance of such Equity Interests or the consummation of such merger, the Company shall not fail to be qualified as an "S corporation" as defined in Section 1361 of the Code at all times on or after the Closing Date.

Loss of S Corporation Status. Except as a result of the consummation of (i) an underwritten initial public offering of the Common Stock of the Company pursuant to which the Company obtains a listing for its Common Stock on a United States national securities exchange, the Nasdaq National Market System, or an automated quotation system of nationally recognized standing or (ii) the sale of Equity Interests by or the merger of the Company, the proceeds of which are used to prepay the principal, interest, premium, fees and expenses on the Notes in full concurrently with the issuance of such -43- Equity Interests or the consummation of such merger, the Company shall not fail to be qualified as an "S corporation" as defined in Section 1361 of the Code at all times on or after the Closing Date.