Debenture Payment Requirement Sample Clauses

Debenture Payment Requirement. CNCC agrees to make ongoing, timely installment payments on behalf of AGRA and its AGRA subsidiary under the terms and conditions of that certain debenture, dated December 11, 2008, in principal amount of $856,000 (U.S.), with an outstanding balance at Closing of $517,311 (U.S.), (the “Debenture”), by and between the predecessor to AGRA and/or its subsidiary and the AGRA Shareholder, as assigned to the AGRA Shareholder by the E B Financial Trust. Failure to make any installment payment due under the Debenture within thirty (30) days of its due date, may be regarded by the AGRA Shareholder as a breach of this Agreement.