Convertible Subordinated Debt Documents Sample Clauses

Convertible Subordinated Debt Documents. As of the Closing Date, (i) Agent has received true, correct and complete copies of the Convertible Subordinated Debt Documents; and (ii) none of the Convertible Subordinated Debt Documents has been amended or supplemented, nor have any of the provisions thereof been waived, except pursuant to a written agreement or instrument which has heretofore been delivered to Agent. The subordination provisions with respect to the Convertible Subordinated Debt contained in the Convertible Subordinated Debt Documents are legal, valid and binding obligations of each Person a party thereto, and enforceable against such Person in accordance with their terms. No “Event of Default” (as defined in the Convertible Subordinated Debt Documents) has occurred and is continuing. As of the Closing Date, the outstanding principal amount owing under the Convertible Subordinated Debt Documents is $70,000,000. The Obligations constitute “Specified Senior Indebtedness” under the Convertible Subordinated Debt Documents.
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Convertible Subordinated Debt Documents. Borrower has delivered to Agent a complete and correct copy of the Convertible Subordinated Debt Documents, including all schedules and exhibits thereto. The subordination provisions with respect to the Convertible Subordinated Debt contained in the Convertible Subordinated Debt Documents are legal, valid and binding obligations of each Person a party thereto, and enforceable against such Person in accordance with their terms. No "Event of Default" (as defined in the Convertible Subordinated Debt Documents) has occurred and is continuing. As of the Closing Date, the outstanding principal amount owing under the Convertible Subordinated Debt Documents is $135,000,000. The Obligations constitute "Specified Senior Indebtedness" under the Convertible Subordinated Debt Documents.
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Convertible Subordinated Debt Documents. The Parent has delivered to the Agent true and correct copies of the Convertible Subordinated Debt Documents. The issuance by the Parent of the Convertible Subordinated Notes was in compliance in all material respects with applicable federal and state securities laws. During the period December 7, 2001 through the Business Day preceding the Closing Date, the Parent received net cash proceeds of Subordinated Debt under the Convertible Subordinated Debt Documents in an amount not less than $97,010,416.67, which proceeds were applied by the Parent in reduction of the Original Loans.
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Convertible Subordinated Debt Documents. 61 5.22 Transactions with Related Parties....................................................... 61 5.23 Patents, Trademarks and Copyrights...................................................... 61 5.24
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Convertible Subordinated Debt Documents. Each of the Convertible --------------------------------------- Subordinated Debt Documents constitutes the valid and binding obligation of each of the parties thereto in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy laws and other laws affecting creditors' rights generally and by general principles of equity. The Borrower has no knowledge that any of the representations and warranties contained in any of the Convertible Subordinated Debt Documents were not true and correct in all material respects on and as of the date given or, except as disclosed in writing to the Agent prior to the Closing Date, that any of the material terms thereof have been modified, amended or waived.
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Convertible Subordinated Debt Documents. Borrower has delivered to Agent a complete and correct copy of the Convertible Subordinated Debt Documents, including all schedules and exhibits thereto. The subordination provisions with respect to the Convertible Subordinated Debt contained in Convertible Subordinated Debt Documents are legal, valid and binding obligations of each Person a party thereto, and enforceable against such Person in accordance with their terms. Loan Parties are not in default in the performance or compliance with any provisions thereof. As of the Closing Date, the outstanding principal amount owing under the Convertible Subordinated Debt Documents is Cdn$45,000,000. The Obligations constitute "Senior Indebtedness" under the Convertible Subordinated Debt Documents.
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Related to Convertible Subordinated Debt Documents

  • Subordinated Debt Documents Subject to Section 10.6(m), the failure of any Loan Party to comply with the terms of any intercreditor agreement or any subordination provisions of any note or other document running to the benefit of the Administrative Agent or Lenders, or if any such document becomes null and void or unenforceable against any lender holding the Subordinated Debt.

  • Subordinated Indebtedness The Obligations constitute senior indebtedness which is entitled to the benefits of the subordination provisions of all outstanding Subordinated Indebtedness.

  • Indebtedness and Preferred Equity The Borrower will not, and will not permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Indebtedness, except:

  • Subordinated Debt (a) Make or permit any payment on any Subordinated Debt, except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof or adversely affect the subordination thereof to Obligations owed to Bank.

  • Convertible Notes The Convertible Notes are subject to different conversion calculations depending on the event triggering conversion as described in the Notes (e.g., an IPO or other liquidity event). For illustration purposes, assuming the optional conversion right is exercised today, based on the current capitalization and the $50,000,000 assumed valuation specified for an optional conversion in the Notes, there would be 4,705,224 additional shares issued; provided however, that each holder of Notes is subject to a maximum 9.99% ownership of the shares of capital stock of the Company at any one time. This illustration calculation does not account for the 6% interest component.

  • Senior Subordinated Notes The subordination provisions contained in the Senior Subordinated Notes and in the other Senior Subordinated Note Documents are enforceable against the Borrower and the holders of the Senior Subordinated Notes, and all Obligations are within the definition of "Senior Debt" included in such subordination provisions.

  • Limitation on Senior Subordinated Indebtedness The Company will not Incur any Indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness and senior in right of payment to the Securities. No Guarantor will Incur any Indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness of such Guarantor and senior in right of payment to such Guarantor’s Subsidiary Guarantee.

  • Convertible Debt On or prior to the Closing Date, the Company will cause to be cancelled all convertible debt in the Company. For a period of two years from the closing the Company will not issue any convertible debt below $0.90 per share.

  • Indebtedness and Guaranties Incur any indebtedness for borrowed money other than in the ordinary course of business consistent with past practice with a term not in excess of one year; or incur, assume or become subject to, whether directly or by way of any guarantee or otherwise, any obligations or liabilities (absolute, accrued, contingent or otherwise) of any other person or entity, other than the issuance of letters of credit in the ordinary course of business and in accordance with the restrictions set forth in Section 5.2(r).

  • Subordination of Junior Financing The Obligations are “Senior Debt,” “Senior Indebtedness,” “Guarantor Senior Debt” or “Senior Secured Financing” (or any comparable term) under, and as defined in, any Junior Financing Documentation.

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