Common use of Purchase Notes Clause in Contracts

Purchase Notes. A series of 8% senior secured convertible promissory notes in the aggregate principal amount of Thirty Million ($30,000,000) Dollars, constituting the Purchase Notes, that are fully subject and subordinated to Senior Secured Debt owed under the ExWorks Loan Agreement but are secured by a subordinated pledge by the Company of the acquired THC capital stock and an unconditional and irrevocable guaranty from THC and the Subsidiaries of THC in favor of the Holders of the Sellers Purchase Notes.

Purchase Notes. A series of 8% senior secured convertible promissory notes in the aggregate principal amount of Thirty Million ($30,000,000) Dollars, constituting the Purchase Notes, that are fully subject and subordinated to Senior Secured Debt owed under the ExWorks Loan Agreement but are secured by a subordinated pledge by the Company of the acquired THC capital stock and an unconditional and irrevocable guaranty from THC and the Subsidiaries of THC in favor of the Holders of the Sellers Purchase Notes.. 37 Schedule 4.20 Employee Matters