Unsecured Note. This Note is unsecured and the Company and Holder agree that this Note shall not be secured at any time in the future by a grant of a security interest in any assets of the Company, whether or not those assets are owned by the Company at this time or acquired by the Company on a date subsequent to the date hereof. The provisions of this Section 3 are designed for the benefit of the third party senior creditors as well as the Company and Holder.
Appears in 2 contracts
Sources: Bridge Loan Agreement (Corvu Corp), Bridge Loan Agreement (Corvu Corp)