The New Note will be secured by a first priority security interest in and lien on the Company Assets. The New Note will be senior to all existing indebtedness of the Company; provided, however, that the Buyer’s security interest in and lien on the Company Assets will rank pari passu with the first priority security interest in and lien on the Company Assets granted to the purchasers of Preferred Stock Units sold by the Company in the Company’s Preferred Stock Unit Offering. At such time as the security interest in and lien on the Company Assets held by the purchasers of Preferred Stock Units terminates, the security interest in and lien on the Company Assets held by the Buyer will continue in first priority position.