Common use of Net Equity Proceeds Clause in Contracts

Net Equity Proceeds. Notwithstanding anything to the contrary in the Existing Agreement or any other agreement to which the Company and Purchaser are a party, Purchaser hereby waives any right to require that any Net Equity Proceeds be applied to pay any amounts due under any of the Demand Notes before any amounts due thereunder become due and payable (for the avoidance of doubt, after giving effect to Section 7).