THIRD PARTY INDEBTEDNESS LIMIT

THIRD PARTY INDEBTEDNESS LIMIT. Means US $15,000,000 in the aggregate; provided that in the event (i) there is a Qualified IPO and (ii) after the Initial Closing, the Company issues Equity Securities (other than debt securities and excluding US $610,442 of Series C Preferred Stock) resulting in aggregate gross proceeds of US $25,000,000 to the Company, "Third Party Indebtedness Limit" shall mean US $30,000,000 in the aggregate.