Prepayment Restrictions. Effective as of the Effective Time, the prepayment restrictions set forth in Section 5 of the June 2025 Amendment are hereby amended and restated in their entirety as follows: (a) Unless otherwise agreed to by ▇▇▇▇▇▇▇ Kapital, in no event shall the Company prepay more than $2,400,000 of principal outstanding under the Convertible Note prior to September 30, 2027. (b) For the avoidance of doubt, the foregoing restrictions shall not limit ▇▇▇▇▇▇▇ Kapital’s right to convert outstanding principal and accrued interest under the Convertible Note into shares of common stock at any time in accordance with the terms thereof.
Appears in 1 contract
Sources: Warrant Exercise and Amendment to Note and Warrant Agreement (Kaufman Kapital LLC)
Prepayment Restrictions. Effective as of the Effective Time, the prepayment restrictions set forth in Section 5 of the June 2025 Amendment are hereby amended and restated in their entirety as follows:
(a) Unless otherwise agreed to by ▇K▇▇▇▇▇▇ Kapital, in no event shall the Company prepay more than $2,400,000 of principal outstanding under the Convertible Note prior to September 30, 2027.
(b) For the avoidance of doubt, the foregoing restrictions shall not limit ▇K▇▇▇▇▇▇ Kapital’s right to convert outstanding principal and accrued interest under the Convertible Note into shares of common stock at any time in accordance with the terms thereof.
Appears in 1 contract
Sources: Warrant Exercise and Amendment to Note and Warrant Agreement (BranchOut Food Inc.)