Extract to table

All capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement unless the context otherwise requires

In the event of a Change of Control of the Company (as defined in the form of Note), each holder of Notes shall be entitled to receive, at the Company's election, the greater of (i) two times (2

The Notes will include a most favored nation clause providing that, in the event the Company issues any subsequent convertible promissory notes, Simple Agreements for Future Equity ("SAFEs"), or other convertible instruments on terms that are more favorable to the holders thereof than the terms of the Notes, the holders of the Notes shall have the right to elect to have the terms of their Notes adjusted to incorporate such more favorable terms

The Company understands and agrees that the senior position of Kelvantis under the Loan Agreement must be fully preserved, and the proposed transaction has been structured with this principle as a foundational consideration

The Company acknowledges that any such waiver, if granted, shall not be deemed a waiver of any other provision of the Loan Agreement or of any future default or Event of Default, whether or not similar in nature

All rights, remedies, powers, and privileges of Kelvantis under the Loan Agreement, under any related loan document, and at law or in equity are fully reserved and shall remain in full force and effect, except to the extent expressly waived or modified in writing by Kelvantis in connection with this specific transaction