Common use of Subsequent Placement Clause in Contracts

Subsequent Placement. As long as any portion of the Note is outstanding, the Company shall not issue, offer, sell, grant any option or right to purchase, or otherwise dispose of (or make any announcement in connection with any of the foregoing) any equity security or any equity-linked or related security (including, without limitation, any "equity security" (as that term is defined under Rule 405 promulgated under the Securities Act)), or any Convertible Securities (a "Subsequent Placement"), without the prior written consent of the Investor, except to the extent allowed under existing agreements of the Company. Further, the Company may effect a Subsequent Placement if and only if proceeds used from such Subsequent Placement are used to redeem all outstanding amounts under the Note pursuant to Section 9 of the Note.