ADDITIONAL LOAN ELECTION

ADDITIONAL LOAN ELECTION. Shall mean the election by Debtor to request that Secured Party, in its sole and absolute discretion, make an additional loan in a principal amount requested by Debtor, not to exceed $3,000,000, on the same terms as the Note (which loan shall be secured by the Collateral and may, at Secured Party's option, be convertible into capital stock of Debtor on the same terms as the Note, and if Secured Party elects that such loan be convertible, Secured Party's obligation to make such loan shall be... subject to the requirement that there are a sufficient number of authorized and unissued shares of Debtor's capital stock available for such conversion at the time such loan is to be made). Debtor may only make an Additional Loan Election (a) following any termination of the Merger Agreement other than by Secured Party pursuant to Sections 7.2(b)(ii) or 7.2(c)(i) thereof and (b)(i) within ninety (90) days following the expiration of Secured Party's right to exercise its Put Option (as defined in the Merger Agreement), if applicable, or (ii) before the expiration of and in lieu of Debtor's right to exercise its Call Option (as defined in the Merger Agreement), if applicable, or (iii) within ninety (90) days following the termination of the Merger Agreement if neither the Put Option nor the Call Option are applicable. View More