Common use of SUBSCRIPTION FOR NOTES Clause in Contracts

SUBSCRIPTION FOR NOTES. Subject to the terms and conditions in this Agreement, the Subscriber hereby subscribes for and agrees to lend to EQK such loan amount set forth on the signature page hereof (the “Loan Amount”), and EQK agrees to borrow such Loan Amount from Subscriber and issue Notes equal to the Loan Amount to the Subscriber, subject to EQK’s right to borrow from to the Subscriber such lesser Loan Amount as it may, in its sole discretion, determine to be necessary or desirable. Upon execution, this subscription shall be irrevocable by the Subscriber and shall survive and not be affected by the subsequent death, disability, incapacity, dissolution, bankruptcy or insolvency of the Subscriber. EQK has the irrevocable right to accept or reject this subscription in whole or in part. This Agreement will be deemed accepted by EQK only when EQK has executed the form of acceptance on the signature page of this Agreement attached hereto.