Common use of Most Favored Nation Status Clause in Contracts

Most Favored Nation Status. From the date hereof through the date that no Notes are outstanding, in the event that the Company issues or sells any notes, if the Purchaser then holding Notes reasonably believes that the terms and conditions appurtenant to such issuance or sale provide anti-dilution or other full-ratchet protective provisions to such investors that were not granted to the Purchaser hereunder, upon notice to the Company by such Purchaser within five (5) Trading Days after the Company’s disclosure of such issuance or sale, the Company shall amend the terms of the Notes as to such Purchaser only, so as to give such Purchaser the benefit of such anti-dilution or other full-ratchet protective provisions.

Appears in 6 contracts

Samples: Security Agreement (Giga Tronics Inc), Security Agreement (Giga Tronics Inc), Giga Tronics Inc

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Most Favored Nation Status. From the date hereof through the date that no Notes are portion of the Note remains outstanding, in the event that the Company issues or sells any notesCommon Stock or Common Stock Equivalents, if the Purchaser then holding Notes holds a portion of the Note reasonably believes that the terms and conditions appurtenant to such issuance or sale provide anti-dilution or other full-ratchet protective provisions to such investors that were not granted to the Purchaser hereunder, upon notice to the Company by such the Purchaser within five (5) Trading Days after the Company’s disclosure of such issuance or sale, the Company shall amend the terms of the Notes Note as to such Purchaser onlythe Purchaser, so as to give such Purchaser the benefit of such anti-dilution or other full-ratchet protective provisions.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Giga Tronics Inc), Security Agreement (Giga Tronics Inc), Security Agreement (Giga Tronics Inc)

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Most Favored Nation Status. From the date hereof through the date that no Notes are outstanding, in the event that the Company issues or sells any notes, if the Purchaser then holding Notes reasonably believes that the terms and conditions appurtenant to such issuance or sale provide anti-dilution or other full-ratchet protective provisions to such investors that were not granted to the Purchaser hereunder, upon notice to the Company by such Purchaser within five (5) Trading Days after the Company’s disclosure of such issuance or sale, the Company shall amend the terms of the Notes as to such Purchaser only, so 11 as to give such Purchaser the benefit of such anti-dilution or other full-ratchet protective provisions. This provision shall not apply to the Spartan Financing.

Appears in 1 contract

Samples: Giga Tronics Inc

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