Common use of Redemption Option Upon Triggering Event Clause in Contracts

Redemption Option Upon Triggering Event. In addition to all other rights of the Holder contained herein, after a Triggering Event (as defined in Section 5(b)), the Holder shall have the right, at the Holder’s option, to require the Company to redeem all or a portion of the Principal at a price (the “Redemption Price”) equal to the sum of (i) cash in an amount equal to 100% of such Principal plus (ii) cash in an amount equal to the Interest Amount with respect to such Principal plus (iii) the issuance of a number of Kicker Shares that would have been issued through the Maturity Date (or if the Maturity Date has been extended pursuant to Section 4, the applicable Extended Maturity Date) determined in accordance with Section 7 utilizing a value for the Common Stock determined based on the VWAP for the thirty (30) Trading Day period ended on the Triggering Event for determining the number of Kicker Shares to be issued in accordance with Section 7(b) of this Note (the “Triggering Event VWAP”), plus (iv) if the Triggering Event VWAP is less than Six Dollars ($6.00), cash in an amount equal to the difference between (x) the amount that would have been payable pursuant to clause (iii) if the Triggering Event VWAP had been such lesser amount minus (y) the amount actually received pursuant to clause (iii). For the avoidance of doubt, if the Triggering Event VWAP exceeds $10.00, the number of Kicker shares to be issued pursuant to clause (iii) above shall be determined in accordance with Section 7(b)(iii).

Redemption Option Upon Triggering Event. In addition to all other rights of the Holder contained herein, after a Triggering Event (as defined in Section 5(b)), the Holder shall have the right, at the Holder’s option, to require the Company to redeem all or a portion of the Principal at a price (the “Redemption Price”) equal to the sum of (i) cash in an amount equal to 100% of such Principal plus (ii) cash in an amount equal to the Interest Amount with respect to such Principal plus (iii) an amount equal to the issuance value of a the number of Kicker Shares that would have been issued through the Maturity Date (or if the Maturity Date has been extended pursuant to Section 4, the applicable Extended Maturity Date) determined but for the occurrence of the Triggering Event, but not yet issued to Holder in accordance with Section 7 utilizing a value for the Common Stock determined based on the VWAP for the thirty Thirty (30) Trading Day period ended on the Triggering Event for determining the number of Kicker Shares to be issued in accordance with Section 7(b) of this Note (the (“Triggering Event VWAP”), plus (iv) if the Triggering Event VWAP is less than Six Seven Dollars ($6.007.00), cash in an amount equal to the difference between (x) the amount that would have been payable pursuant to clause (iii) if the Triggering Event VWAP had been such lesser amount Seven Dollars ($7.00) minus (y) the amount actually paid or received pursuant to clause (iii). For the avoidance of doubt, if the Triggering Event VWAP exceeds $10.00, the number of Kicker shares to be issued pursuant to clause (iii) above shall be determined in accordance with Section 7(b)(iii).