No Demand. No Investor shall demand or receive from the Company (and the Company shall not pay to such Investor) all or any part of the Notes, by way of payment, prepayment, setoff, lawsuit or otherwise, nor will any Investor accelerate payment under the Note, or commence, or cause to commence, prosecute or participate in any administrative, legal or equitable action against the Company, without the written consent of the Requisite Majority Holders, except upon the occurrence of a Liquidation Event as set forth in Section 3 of the Notes. This provision shall be binding upon each of the Investors notwithstanding, and shall prevail over, any provision of the Notes permitting an Investor to demand repayment of the Note.
Appears in 2 contracts
Sources: Note Purchase Agreement (Xtera Communications, Inc.), Note Purchase Agreement (Xtera Communications, Inc.)