Senior Status. The indebtedness evidenced by this Senior Convertible Note is senior in right of payment to all other indebtedness of the Payor and Payor agrees not to incur any indebtedness, which by its terms is senior in right of payment to this Senior Convertible Note.
Senior Status. The Company shall have taken all of the necessary actions, including the amendment of the appropriate existing agreements, so that, except as provided in this Section 10.3, the Series 2 Convertible Preferred Stock shall rank senior in all respects, including the payment on limitation and redemption, to all other equity securities of the Company, except that the Series 1 Preferred shall rank pari passu with the Series 2 Convertible Preferred Stock.
Senior Status. The Company shall have taken all of the necessary actions, including the amendment of the appropriate existing agreements, so that, except as otherwise provided in Section 8.8(b) hereof, the Series A Preferred shall rank senior in all respects, including the payment on liquidation and redemption, to all other equity securities of the Company.
Senior Status. The Indebtedness of each Borrower hereunder ranks pari passu with all other Indebtedness of such Borrower other than Indebtedness secured by Liens permitted under Section 7.01.
Senior Status. Notwithstanding anything to the contrary in sections 1 and 2, at any time during the Executive’s employment under this agreement and before the Final Date, the Executive may, at his option, upon 90 days’ written notice given to the Company, elect to terminate his positions, duties and responsibilities under section 1, and during the period (the “Senior Status Period”) commencing 90 days after such written notice is first given and continuing until the earlier of (a) the tenth anniversary of the termination of his positions, duties and responsibilities under section 1, or (b) the termination of the Executive’s employment in accordance with this agreement, provide consulting (but not line executive) services to the Company as an employee. If the Executive shall not have exercised this option on or before the 90th day before the Final Date the Executive shall be deemed to have exercised this option on such date. It is intended that, during the Senior Status Period, the Executive shall continue to provide services to the Company relevant to the general management of the affairs of the Company and to have a voice as to matters that impact the general management of the affairs of the Company. It is reasonably anticipated by the parties and intended that during the Senior Status Period, the level of services the Executive shall perform shall be as mutually agreed by the Executive and the Company, but shall not be less than 25% of the average level of bona fide services performed by the Executive during the immediately preceding 36 month period and that the commencement of the Senior Status Period shall not be considered a “separation from service” with the Company within the meaning of Code Section 409A and the guidance issued thereunder. It is the intention of the parties that, during the Senior Status Period, the Executive shall continue to be elected to and serve as a member of the board of directors of the Company. The Executive, in carrying out his duties during the Senior Status Period, shall report to the Company’s chief executive officer or, if the Executive so elects, to the board of directors of the Company. During the Senior Status Period, the Executive shall, at the request from time to time of the Company’s chief executive officer or board of directors (whoever the Executive then reports to), make himself available to the Company, at times that are reasonably convenient for him, to provide mutually agreeable advisory services (it being understood, ho...
Senior Status. 10.4. Accuracy of Representations and Warranties.................................................. 10.5.
Senior Status. This Note shall rank pari passu with the other Bridge Notes, and each of the Bridge Notes (including this Note) shall rank senior in right of payment to (a) all classes and series of capital stock of the Company now existing or hereafter issued, (b) all existing indebtedness of the Company, and (c) all future indebtedness of the Company. No payment on any such existing or future indebtedness shall be made until this Note has been paid in full.
Senior Status. Except to the extent secured by Liens permitted by Section 8.01, the Indebtedness of each Borrower hereunder ranks PARI PASSU with all other senior Indebtedness of such Borrower.
Senior Status. The Company shall have taken all of the necessary actions, including the amendment of the appropriate existing agreements, so that, except as set forth in the Series E-1 Certificate and the Series E-2 Certificate with respect to the relative priority between the Series E-1 Preferred Stock and the Series E-2 Preferred Stock, the Series E-1 Preferred Stock and the Series E-2 Preferred Stock shall rank senior in all respects, including the payment on liquidation and redemption, to all other equity securities of the Company (including, without limitation, such equity securities as are outstanding on the date hereof).
Senior Status. The Company shall have taken all of the necessary actions, including the amendment of the appropriate existing agreements, so that the Series C Preferred shall rank senior in all respects, including the payment on liquidation and redemption, to all other equity securities of the Company, including the Series A Convertible Preferred Stock.
