Consideration by Airtrax Sample Clauses

Consideration by Airtrax. At Closing, Airtrax will pay to Filipov the sum of (i) 12,750 Euro (Twelve Thousand Seven Hundred and Fifty Euros) for 75.1% of the FiLCO GmbH shares, and (ii) the balance remaining after deducting the 12,750 Euros from the $1.5 million (U.S. Dollars) (minus brokerage commissions due to First Montauk Security Corp.) will be disbursed to FiLCO GmbH as a shareholder loan from Airtrax - (A) $100,000 (U.S. Dollars) immediately upon closing of the offering by and between Airtrax and First Montauk; (B) an additional $200,000 (U.S. Dollars) payable on March 2, 2004; (C) $300,000 (U.S. Dollars) will be paid by March 15, 2004; and (D) $300,000 (U.S. Dollars) will be paid by May 2, 2004, with any balance thereafter due by June 2, 2004 - which will be allocated and recorded at a later date as capital of FiLCO GmbH. Filipov currently has a shareholder loan to FiLCO GmbH. in the amount of 1,266,177.84 Euros. Said Filipov shareholder loan in an amount equivalent to the Airtrax loan, will be converted to capital in FiLCO GmbH as well as the loan from Airtrax. If further capitalization of FiLCO GmbH becomes necessary, Airtrax agrees to advance funds for this, as a loan. The purpose thereof is that Filipov's percentage of ownership in FiLCO GmbH. All such loans will be payable to Airtrax from dividends earned by Filipov from FiLCO GmbH. Said loans will be collateralized and guaranteed by Filipov's shares or ownership in FiLCO GmbH. This section terminates in three years from the date of acceptance of this agreement, however, all and any loans or guarantees in place at that time shall remain in full force and effect until properly disposed.
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Related to Consideration by Airtrax

  • Termination by Parent This Agreement may be terminated and the Merger may be abandoned at any time prior to the Effective Time by Parent if:

  • Cooperation by Holders The Partnership shall have no obligation to include Registrable Securities of a Holder in a Registration Statement or in an Underwritten Offering pursuant to Section 2.03(a) if such Holder has failed to timely furnish such information that the Partnership determines, after consultation with its counsel, is reasonably required in order for any registration statement or prospectus supplement, as applicable, to comply with the Securities Act.

  • Termination by Sellers This Agreement may be terminated at any time prior to the Closing Date by Sellers as follows:

  • Allocation by Agent If offers are made by two or more Banks with the same Money Market Margins or Money Market Absolute Rates, as the case may be, for a greater aggregate principal amount than the amount in respect of which such offers are accepted for the related Interest Period, the principal amount of Money Market Loans in respect of which such offers are accepted shall be allocated by the Agent among such Banks as nearly as possible (in multiples of $1,000,000, as the Agent may deem appropriate) in proportion to the aggregate principal amounts of such offers. Determinations by the Agent of the amounts of Money Market Loans shall be conclusive in the absence of manifest error.

  • Termination by Xxxxxx This Agreement may be terminated and the Merger Transactions abandoned at any time before the Acceptance Time by Parent:

  • Acquisition by Seller The Asset was acquired by Seller in March 2021.

  • Termination by Seller This Agreement may be terminated by Seller and the purchase and sale of the Station abandoned, if Seller is not then in material default, upon written notice to Buyer, upon the occurrence of any of the following:

  • Termination by Agreement In the event Practice and Business ------------------------ Manager shall mutually agree in writing, this Management Services Agreement may be terminated on the date specified in such written agreement.

  • Termination by Purchaser This Agreement may be terminated by Purchaser at any time prior to the Effective Time:

  • Distribution by Agent If in the opinion of the Agent the distribution of any amount received by it in such capacity hereunder, under the Notes or under any of the other Loan Documents might involve it in liability, it may refrain from making distribution until its right to make distribution shall have been adjudicated by a court of competent jurisdiction. If a court of competent jurisdiction shall adjudge that any amount received and distributed by the Agent is to be repaid, each Person to whom any such distribution shall have been made shall either repay to the Agent its proportionate share of the amount so adjudged to be repaid or shall pay over the same in such manner and to such Persons as shall be determined by such court.

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