Common use of Mandatory Exchange Clause in Contracts

Mandatory Exchange. Provided an Event of Default has not occurred, unless waived by Holder or a Majority in interest of Holders, then upon the occurrence of a Qualified Offering the outstanding principal amount of this Note shall be deemed a subscription to such Qualified Offering and shall be deemed paid upon the closing of such Qualified Offering. In connection With such Qualified Offering the Holder shall be entitled to and will receive all the rights and benefits granted to and available to all of the subscribers to the Qualified Offering. The Holder and Borrower will enter into and exchange such agreements and documents as are entered into and exchanged by other investors in the Qualified Offering The principal amount of this Note when and if applied as a subscription to the Qualified Offering shall not be included in the minimum dollar

Mandatory Exchange. Provided an Event of Default has not occurred, unless waived by Holder or a Majority in interest Interest of Holders, then upon the occurrence of a Qualified Offering the outstanding outstanding, principal amount of this Note shall be deemed a subscription to such Qualified Offering and shall be deemed paid upon the closing of such Qualified Offering. In connection With with such Qualified Offering the Holder shall be entitled to and will receive all the rights and benefits granted to and available to all of the subscribers to the Qualified Offering. The Holder and Borrower Bxxxxxxx will enter into and exchange such agreements and documents as are entered into and exchanged by other investors in the Qualified Offering The principal amount of this Note when and if applied as a subscription to the Qualified Offering shall not be included in the minimum dollardollar amount required for such offering to be a Qualified Offering.

Mandatory Exchange. Provided an Event of Default has not occurred, unless waived by Holder or a Majority in interest Interest of Holders, then upon the occurrence of a Qualified Offering the outstanding outstanding, principal amount of this Note shall be deemed a subscription to such Qualified Offering and shall be deemed paid upon the closing of such Qualified Offering. In connection With with such Qualified Offering the Holder shall be entitled to and will receive all the rights and benefits granted to and available to all of the subscribers to the Qualified Offering. The Holder and Borrower will enter into and exchange such agreements and documents as are entered into and exchanged by other investors in the Qualified Offering The principal amount of this Note when and if applied as a subscription to the Qualified Offering shall not be included in the minimum dollardollar amount required for such offering to be a Qualified Offering.

Mandatory Exchange. Provided an Event of Default has not occurred, unless waived by Holder or a Majority in interest Interest of Holders, then upon the occurrence of a Qualified Offering the outstanding principal amount of this Note shall be deemed a subscription to such Qualified Offering and shall be deemed paid upon the closing of such Qualified Offering. In connection With with such Qualified Offering the Holder shall be entitled to and will receive all the rights and benefits granted to and available to all of the subscribers to the Qualified Offering. The Holder and Borrower will enter into and exchange such agreements and documents as are entered into and exchanged by other investors in the Qualified Offering Offering. The principal amount of this Note when and if applied as a subscription to the Qualified Offering shall not be included in the minimum dollardollar amount required for such offering to be a Qualified Offering.

Mandatory Exchange. Provided an Event of Default has not occurred, unless waived by Holder or a Majority in interest of Holders, then upon the occurrence of a Qualified Offering the outstanding principal amount of this Note shall be deemed a subscription to such Qualified Offering and shall be deemed paid upon the closing of such Qualified Offering. In connection With such Qualified Offering the Holder shall be entitled to and will receive all the rights and benefits granted to and available to all of the subscribers to the Qualified Offering. The Holder and Borrower Bxxxxxxx will enter into and exchange such agreements and documents as are entered into and exchanged by other investors in the Qualified Offering The principal amount of this Note when and if applied as a subscription to the Qualified Offering shall not be included in the minimum dollar