Examples of Series A Preferred Stock Payments in a sentence
Notwithstanding anything set forth herein to the contrary, so long as no default or event of default has occurred and is continuing with respect to the Senior Indebtedness or the Series A Preferred Stock Payments, the Company is expressly permitted to make the payments described in Section 2.
Holder shall promptly execute such additional agreements as any holder or holders of Senior Indebtedness or Series A Preferred Stock Payments may reasonably request to confirm the provisions of this Note and otherwise provide for the reasonable subordination of the indebtedness evidenced by this Note on terms not materially inconsistent with this Note.
Additionally, the Company agrees that the Subordinated Indebtedness shall be senior in the right of payment to any other equity security of the Company (other than the Series A Preferred Stock Payments).
The Company and Holder agree that, with the exception of permitted payments under this Section 5, the payment of Subordinated Indebtedness is hereby expressly subordinated in the right of payment to the prior payment in full of the Senior Indebtedness and the Series A Preferred Stock Payments.
For the avoidance of doubt, upon the occurrence of a Liquidity Event, the Lender shall be entitled to payment in immediately available funds of all outstanding principal and interest on the Note, subject to subordination to the Senior Indebtedness and Series A Preferred Stock Payments pursuant to Section 6.1. Notwithstanding the foregoing, the Company may, at any time, without penalty, prepay in whole or in part the unpaid balance of this Note.
The Company and Holder agree that, with the exception of permitted payments under this Section 6, the payment of Subordinated Indebtedness is hereby expressly subordinated in the right of payment to the prior payment in full of the Senior Indebtedness and the Series A Preferred Stock Payments.