Common use of Most Favored Nation Provision Clause in Contracts

Most Favored Nation Provision. Notwithstanding anything contained herein to the contrary, if at any time from and after the Closing Date until the Notes are no longer outstanding, the Company proposes to offer and sell additional securities in a Subsequent Financing, each Purchaser may elect, in its sole discretion, to exchange all or a portion of such Purchaser's Securities then held by such Purchaser for securities of the same type issued in such Subsequent Financing (such exchange to be made at the same time as the closing of such Subsequent Financing), on the same terms and conditions as the Subsequent Financing, based on the principal aggregate amount of such Purchaser’s Note, and accrued and unpaid interest and late charges on the principal and interest of the Note. By way of example, if the Company undertakes a Subsequent Financing of notes, each Purchaser shall have the right to participate in such Subsequent Financing and use the exchange of its Notes as consideration, on a dollar for dollar basis, in lieu of cash consideration. The procedural and notice requirements under Section 4.11 are incorporated in this Section 4.20, as applicable.

Most Favored Nation Provision. Notwithstanding anything contained herein to the contrary, if at any time from and after the Closing Date until the Notes are no longer outstanding, the Company proposes to offer and sell additional securities in a Subsequent Financing, each Purchaser may elect, in its sole discretion, to exchange all or a portion of such Purchaser's ’s Securities then held by such Purchaser for securities of the same type issued in such Subsequent Financing (such exchange to be made at the same time as the closing of such Subsequent Financing), on the same terms and conditions as the Subsequent Financing, based on the principal aggregate amount of such Purchaser’s Note, and accrued and unpaid interest and late charges on the principal and interest of the Note. By way of example, if the Company undertakes a Subsequent Financing of notes, each Purchaser shall have the right to participate in such Subsequent Financing and use the exchange of its Notes as consideration, on a dollar for dollar basis, in lieu of cash consideration. The procedural and notice requirements under Section 4.11 are incorporated in this Section 4.204.21, as applicable.

Most Favored Nation Provision. Notwithstanding anything contained herein to the contrary, if at any time from and after the Closing Date until the Notes are no longer outstanding, the Company proposes to offer and sell additional securities in a Subsequent Financing, except for an Exempt Issuance or related to any transaction listed on Schedule 4.19, each Purchaser may elect, in its sole discretion, to exchange all or a portion of such Purchaser's Securities then held by such Purchaser for securities of the same type issued in such Subsequent Financing (such exchange to be made at the same time as the closing of such Subsequent Financing), on the same terms and conditions as the Subsequent Financing, based on the principal aggregate amount of such Purchaser’s Note, and accrued and unpaid interest and late charges on the principal and interest of the Note. By way of example, if the Company undertakes a Subsequent Financing of notes, each Purchaser shall have the right to participate in such Subsequent Financing and use the exchange of its Notes as consideration, on a dollar for dollar basis, in lieu of cash consideration. The procedural and notice requirements under Section 4.11 are incorporated in this Section 4.20, as applicable.

Most Favored Nation Provision. Notwithstanding anything contained herein to From the contrary, if at any time from and after the Closing Date date hereof until the Notes date that the Warrants are no longer outstanding, the Company proposes to offer and sell additional securities in a Subsequent Financing, each Purchaser may elect, in its sole discretion, to surrender the Notes as consideration for the securities issued in any Subsequent Financing (including any warrants or options issued as part of a unit with any such securities) or exchange all or a portion some of such Purchaser's Securities the Warrants then held by such Purchaser for securities of the same type comparable warrants or options issued in such any Subsequent Financing (such surrender or exchange to be made at the same time as the closing of such Subsequent Financing), on the same terms and conditions as the applicable securities being issued in the Subsequent Financing, based on the principal aggregate amount of such Purchaser’s Note, and accrued and unpaid interest and late charges on the principal and interest of the Note. By way of example, if the Company undertakes a Subsequent Financing of notesSenior Secured Convertible Notes and warrants, each Purchaser shall have the right to participate in such Subsequent Financing and use the exchange surrender of its Notes as consideration, on a dollar $1 for dollar $1 basis, in lieu of cash consideration. The procedural and Company shall provide prior written notice requirements under of any such Subsequent Financing in the manner set forth in Section 4.11 are incorporated in 4.12. Notwithstanding the foregoing, this Section 4.20, as applicable4.18 shall not apply in respect of an Exempt Issuance.

Most Favored Nation Provision. Notwithstanding anything contained herein to the contrary, if at any time from and after the Closing Date until the Notes are no longer outstanding, the Company proposes to offer and sell additional securities in a Subsequent Financing, each Purchaser may elect, in its sole discretion, to exchange all or a portion of such Purchaser's ’s Securities then held by such Purchaser for securities of the same type issued in such Subsequent Financing (such exchange to be made at the same time as the closing of such Subsequent Financing), on the same terms and conditions as the Subsequent Financing, based on the principal aggregate amount of such Purchaser’s Note, and accrued and unpaid interest and late charges on the principal and interest of the Note. By way of example, if the Company undertakes a Subsequent Financing of notes, each Purchaser shall have the right to participate in such Subsequent Financing and use the exchange of its Notes as consideration, on a dollar for dollar basis, in lieu of cash consideration. The procedural and notice requirements under Section 4.11 ‎4.11 are incorporated in this Section 4.20‎4.21, as applicable.

Most Favored Nation Provision. Notwithstanding anything contained herein to the contrary, if at any time from and after the Closing Date until the Notes are no longer outstanding, the Company proposes to offer and sell additional securities in a Subsequent Financing, each Purchaser may elect, in its sole discretion, to exchange all or a portion of such Purchaser's ’s Securities then held by such Purchaser for securities of the same type issued in such Subsequent Financing (such exchange to be made at the same time as the closing of such Subsequent Financing), on the same terms and conditions as the Subsequent Financing, based on the principal aggregate amount of such Purchaser’s the Note, and accrued and unpaid interest Interest and late charges on the principal Principal and interest of the Note. By way of example, if the Company undertakes a Subsequent Financing of notesconvertible notes and 200% warrant coverage, each Purchaser shall have the right to participate in such Subsequent Financing and use the exchange of its Notes as consideration, on a dollar for dollar basis, in lieu of cash consideration. The procedural and notice requirements “Subsequent Financing” means any issuance by the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents for cash consideration, Indebtedness or a combination of the foregoing in a transaction exempt from registration under Section 4.11 are incorporated in this Section 4.20, as applicablethe Securities Act (a “Subsequent Financing”).

Most Favored Nation Provision. Notwithstanding anything contained herein to the contrary, if at any time from and after the Closing Date until the Notes are no longer outstanding, the Company proposes to offer and sell additional securities New Securities in a Subsequent Financing, each Purchaser may elect, in its sole discretion, to exchange all or a portion of such Purchaser's Securities then held by such Purchaser for securities of the same type issued in such Subsequent Financing (such exchange to be made at the same time as the closing of such Subsequent Financing), on the same terms and conditions as the Subsequent Financing, based on the principal aggregate Principal amount of such Purchaser’s the Note, and accrued and unpaid interest Interest and late charges on the principal Principal and interest of the Note. By way of example, if the Company undertakes a Subsequent Financing of notesconvertible notes and 200% warrant coverage, each Purchaser shall have the right to participate in such Subsequent Financing and use the exchange of its Notes as consideration, on a dollar for dollar basis, in lieu of cash consideration. The procedural and notice requirements under Section 4.11 are incorporated in this Section 4.204.21, as applicable.

Most Favored Nation Provision. Notwithstanding anything contained herein to the contrary, if at any time from and after the Closing Date until the Notes are no longer outstanding, the Company proposes to offer and sell additional securities New Securities in a Subsequent Financing, each Purchaser may elect, in its sole discretion, to exchange all or a portion of such Purchaser's ’s Securities then held by such Purchaser for securities of the same type issued in such Subsequent Financing (such exchange to be made at the same time as the closing of such Subsequent Financing), on the same terms and conditions as the Subsequent Financing, based on the principal aggregate Principal amount of such Purchaser’s the Note, and accrued and unpaid interest Interest and late charges on the principal Principal and interest of the Note. By way of example, if the Company undertakes a Subsequent Financing of notesconvertible notes and 200% warrant coverage, each Purchaser shall have the right to participate in such Subsequent Financing and use the exchange of its Notes as consideration, on a dollar for dollar basis, in lieu of cash consideration. The procedural and notice requirements under Section 4.11 are incorporated in this Section 4.204.21, as applicable.