Extract to table

Definitions As used in this Note, the following terms shall have the meanings set forth below: "Board" means the Board of Directors of the Company

As of the Closing Date, the aggregate principal amount of all Notes issued pursuant to the Purchase Agreement is Forty Million Dollars ($40,000,000), and accordingly, the Majority Holders must hold Notes with an aggregate principal amount exceeding Twenty Million Dollars ($20,000,000)

Capitalized terms used but not otherwise defined in this Note shall have the respective meanings ascribed to such terms in the Purchase Agreement

On each PIK Date, all accrued and unpaid interest as of such PIK Date shall automatically be added to and become part of the outstanding principal amount of this Note, without any further action required by the Holder or the Company

Following each such capitalization, interest shall accrue on the increased principal amount for the next succeeding interest period

By way of illustration and not limitation, the PIK mechanics shall operate as follows for a Note with an initial principal amount of $P: • Year 1 (Closing Date through April 22, 2025): Interest accrues at 6