Extract to table

This means that, in the event of the Company's insolvency, liquidation, dissolution, reorganization, or similar proceeding, Kelvantis's claims must be satisfied in full before any payment is made on account of the Convertible Notes

The standstill period is typically defined as the period commencing upon the occurrence of an Event of Default under the LSA and continuing for a specified number of days (commonly 120 to 180 days), during which the noteholders must refrain from taking any action that could interfere with Kelvantis's enforcement rights

The Subordination Agreement should include standard "turnover" provisions providing that, in the event of the Company's insolvency, bankruptcy, liquidation, dissolution, or similar proceeding, any amounts received by the noteholders in violation of the subordination terms must be held in trust for, and promptly turned over to, Kelvantis for application against the senior debt