Prepayment at the Option of the Holder. The Holder may require the Company to prepay the entire outstanding principal amount of this Debenture (including, for the avoidance of doubt, any original issue discount) for cash in an amount equal to the Prepayment Amount and the Exit Payment (the “Change of Control Put Right”), at any time following the Company’s entry into a definitive agreement for a Change of Control Transaction until the twentieth (20th) Trading Day following the consummation of such Change in Control Transaction (the “Change of Control Put Period”). The Holder may exercise the Change of Control Put Right by delivering a written notice to the Company at any time during the Change of Control Put Period and the Change of the Control Prepayment Amount and the Exit Payment shall be due and payable in cash on the third (3rd) Trading Day following the Company’s receipt of such notice.
Appears in 2 contracts
Sources: Security Agreement (22nd Century Group, Inc.), Security Agreement (22nd Century Group, Inc.)