Note Repayments. FOXO agrees that 25% of any and all net proceeds it receives upon any issuance of capital stock or sale of assets for cash will promptly be paid by wire transfer to an account designated by Rennova. The Parties agree that any and all such payments received by Rennova shall constitute a principal repayment under Section 1 of the Note (but that any such payment by FOXO pursuant to this Section 11.3 shall not lessen any other principal repayment amount payable by RCHI under Section 1 of the Note).
Appears in 2 contracts
Sources: Stock Exchange Agreement (Rennova Health, Inc.), Stock Exchange Agreement (Foxo Technologies Inc.)