Put Right in Debt-Like Pref
This is not a thing, right? I'm just imagining it as a mezz loan. Why would anyone accept mezz with that feature? Seems like you are giving the company away to a potentially predatory party, especially because, in an EOD, the investment will most likely be structured to sever the existing equity if need be.
Just sanity checking this. Would be great to hear if you have seen something like this (even in heavily structured circumstances) or if it's just not a thing.