Common use of Repayment of This Note Clause in Contracts

Repayment of This Note. If the Company issues any (i) debt, including any subordinated debt or convertible debt (other than the Note or any other “Note” as defined in the Purchase Agreement and other than any “Permitted Indebtedness” as defined in the Purchase Agreement) for aggregate proceeds of any amount, or (ii) any Equity Interests other than Exempted Securities for aggregate proceeds of more than Seven Million Dollars ($7,000,000), the Company shall notify the Holder within 2 Business Days of such issuance and, unless otherwise waived in writing by and at the discretion of the Holder, no later than 5 Business Days after issuing such debt or Equity Interests, the Company will direct (i) one hundred percent of the proceeds from the issuance of such debt to repay this Note, or (ii) twenty percent (20%) of the proceeds from the issuance of such Equity Interests to repay this Note.