Common use of MFN Clause in Contracts

MFN. If the Parent enters into any subsequent equity or equity linked financing (a “Subsequent Financing”) on terms more favorable, as determined by the Lender in its discretion, than the terms governing the Notes, then the Lender in its sole discretion may exchange any Note then held by it, valued at its principal amount, together with accrued but unpaid interest (which interest payments shall be payable, at the sole option of the Purchaser, in cash or in the form of the new securities to be issued in the Subsequent Financing), for the securities issued or to be issued in the Subsequent Financing. The Parent covenants and agrees to notify the Lender in writing of the terms and conditions of any such proposed Subsequent Financing as promptly as practicable, but in no event less than 10 days prior to such Subsequent Financing.