Cancellation of Debts. Cancel any debts owed or claims held by the Borrower.
Cancellation of Debts. Cancelled any debts owed to or claims held by Seller;
Cancellation of Debts. 10 (n) Write-Down . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 (o) Rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 (p) Television Affiliation Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 (q) Loan And Option Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Cancellation of Debts. Sellers have outstanding debt payable to Wood in the aggregate amount of $111,000 reflected on the books of Wood (the “Seller Debts”). Upon Closing, the Seller Debts shall be deemed cancelled and paid in full. In consideration for the cancellation of the Seller Debts, Wood’s Working Capital shall be reduced by $111,000.
Cancellation of Debts. Except in the ordinary course of business in connection with loan repayments, cancel, release or compromise any indebtedness in excess of $25,000 owing to Xxxxxxx or Xxxxxxx Bank or any claims which Xxxxxxx or Xxxxxxx Bank may possess, or voluntarily waive any material rights with respect thereto; or
Cancellation of Debts. 11 (n) Write-Down........................................... 11 (o) Rights............................................... 11 (p) North Bay Agreements................................. 11 Section 6.3
Cancellation of Debts. Cancel, release or compromise any indebtedness in excess of $25,000 owing to Alliance or Alliance Bank or any claims which Alliance or Alliance Bank may possess, or voluntarily waive any material rights with respect thereto; or
Cancellation of Debts. The rescission agreement (the “Rescission Agreement”), attached hereto as Exhibit A, by and between the Company and the Seller and dated as of the Closing Date, the purpose of which is to eliminate any debts and outstanding financial issues between the Seller and the Company, shall become effective upon Closing.
Cancellation of Debts. The Rescission Agreement shall have been executed and become effective upon Closing.
Cancellation of Debts. PYXS and ATX agree that all promissory notes issued by VOX to each of PYXS and ATX under the VOX Agreements, and other amounts owed by VOX to each of PYXS and ATX, shall be discharged in their entirety without further liability. PYXS and AXX further agree that no payments will be made by VOX to PYXS or ATX under Section 12.02 of the Operating Agreement unless specifically set forth in this Agreement.
