Note Obligation definition
Examples of Note Obligation in a sentence
Each Subsidiary Guarantor further agrees that the Note Obligations may be extended or renewed, in whole or in part, without notice or further assent from each such Subsidiary Guarantor, and that each such Subsidiary Guarantor shall remain bound under this Article IX notwithstanding any extension or renewal of any Note Obligation.
The Guarantors further agree that the Note Obligations may be extended or renewed, in whole or in part, without notice or further assent from the Guarantors and that the Guarantors shall remain bound under this Article Ten notwithstanding any extension or renewal of any Note Obligation.
Each Guarantor further agrees (to the extent permitted by law) that the Note Obligations may be extended or renewed, in whole or in part, without notice or further assent from it, and that it shall remain bound under this Article X notwithstanding any extension or renewal of any Note Obligation.
The Guarantors further agree that the Note Obligations may be extended or renewed, in whole or in part, without notice or further assent from the Guarantors and that the Guarantors shall remain bound under this Article Ten notwithstanding any extension or renewal of any Note Obligation.
At any time prior to payment of the Principal and Note Obligation on this Note, the holder hereof shall have the option of exercising its Optional Conversion rights under Section 4.
The Principal and Note Obligation on this Note may be voluntarily prepaid in whole or in part at any time prior to conversion of this Note by the holder hereof in accordance with Section 4 hereof.
In the event any such event occurs, the Company shall make such equitable adjustments in the application of the provisions of this Section 3.1(a) as it determines are appropriate with respect to the rights and interests thereafter of the Holder, to the end that the provisions set forth in this Section 3.1(a) shall thereafter be applicable, as nearly as reasonably may be, in relation to the Alternative Conversion Consideration deliverable upon conversion of the Series 2 Note Obligation Amount.
This Note shall be convertible into that number of fully paid and nonassessable shares of Common Stock (as defined in Section 5) as is equal to the quotient of the unpaid Principal plus the unpaid Note Obligation divided by the applicable Conversion Price (as defined in Section 5) in effect from time to time.
Upon any Optional Conversion, the outstanding Principal and unpaid Note Obligation due under this Note shall be reduced in full by an amount equal to the number of shares of Common Stock issued upon such conversion multiplied by the applicable Conversion Price.
Except as expressly provided in Section 3.1, neither the Series 2 Note Obligation Amount nor any portion thereof may be converted into shares of Common Stock.