Debt Repayment. You must not accept payment card Transactions (i) to collect or refinance existing debt that you have deemed uncollectible or that is uncollectible by Law; (ii) for previous card charges; or (iii) to collect a dishonoured cheque. Debt repayment is only permitted when performed in compliance with the Card Network Rules.
Debt Repayment. Each Borrower Party shall have repaid all of its existing Indebtedness, other than Permitted Indebtedness and all Liens associated therewith encumbering any Collateral, other than Permitted Liens, shall have been released.
Debt Repayment. Notwithstanding any agreement or provision to the contrary, (a) upon withdrawal of the TP pursuant to Section 13, the TP waives recovery of all debt remaining due to that TP from the Az ISA, including the repayment obligation specified in Exhibit 1, and releases the Az ISA from any and all associated obligations and liabilities; and (b) upon termination of this Agreement, the TP waives recovery of all debts owed to it by the Az ISA, including all repayment obligations listed in Exhibit 1, and releases the Az ISA from any and all associated obligations and liabilities. The foregoing is without prejudice to the right of the TP to seek recovery of said debts from a successor RTO.
Debt Repayment. A borrower also must agree in writing to:
Debt Repayment. From and after consummation of the IPO, to the extent that proceeds from the IPO (or any other funds contributed to the Company or any of its Subsidiaries) are used to repay debt owed by the Company or any of its Subsidiaries (for so long as the Company or such Subsidiary is treated as a partnership for federal income tax purposes), such funds shall be contributed to the Company and its Subsidiaries by the limited liability company interest holders or other equity interest holders in the Company or such Subsidiaries in proportion to the allocation of debt to such holders provided in Section 8.2(b)(iii) of the LLC Agreement.
Debt Repayment. The Debt Repayment shall have been consummated substantially contemporaneously with the initial Borrowing hereunder.
Debt Repayment. WGHI acknowledges an indebtedness to MIOA in the sum of $1,953,000, less interest in the sum of $47,000 which represents interest forgiveness for the second quarter, 1997. Said indebtedness shall be satisfied as follows:
A. WGHI shall execute a Promissory Note in the sum of $1,953,000 together with interest at 10% per annum. WGHI shall pay no less than $25,000 per month commencing June 30, 1997 and continuing on the 30th day of each month thereafter until June 30, 2000 at which time the entire balance of unpaid principal and accrued interest shall be paid in full.
B. MIOA shall be entitled to the first $300,000 received by WGHI with respect to the receipt of additional capitalization by WGHI in the minimum amount of $300,000 and maximum amount of $1.5 million. In the event of the receipt of additional capitalization by WGHI in excess of $1.5 million, MIOA shall be entitled to receive the first $500,000 of additional capitalization above $1.5 million.
C. MIOA shall be entitled to 50% of any additional capitalization received by WGHI in excess of $3 million until said indebtedness shall have been paid in full.
D. MIOA shall also be entitled to 15% of the net cash flow of WGHI in excess of operating expenses and settlement payments on a consolidated basis during the calendar year 1997 and 20% of said net cash flow in the calendar year 1998.
E. In the event WGHI shall sell either Westmark Mortgage Corporation or Green World Technologies, Inc., wholly owned subsidiaries of WGHI, or in the alternative event of a "spin-off" of either subsidiary, MIOA shall be entitled to receive and WGHI agrees to pay to MIOA 50% of the cash proceeds received by WGHI resulting from a sale or "spin-off."
Debt Repayment. 11 5 Conditions.................................... 11
Debt Repayment. 27 SECTION 6.11.
Debt Repayment. 4.1 Notwithstanding anything contained in this Agreement, at Completion the Purchaser will procure that the Company pays to the Vendor the sum of (pound)26,599,933 less the September Distribution Amount (the "DEBT REPAYMENT") in satisfaction of all debts outstanding between the Company and the Vendor.
4.2 If the Debt Repayment is not received by the Vendor at Completion the Purchaser shall pay the Vendor a sum equal to the Debt Repayment and the parties agree that such payment shall be treated as payment in full and final satisfaction of all debts outstanding between the Company and the Vendor.
4.3 If, pursuant to Schedule 28AA of the Taxes Act (including any amendment thereto as proposed by Chapter 2 of the Finance Xxxx 2004 (Version ordered, by the House of Commons, to be printed 23 March 2004)), the Vendor derives any taxable income in respect of any imputed interest that arises in respect of the Loan, the Purchaser shall procure that MYL shall, for no consideration, and to the extent permitted by law, take reasonable efforts to surrender to the Vendor, or any of the Vendor's subsidiaries if so directed by the Vendor, any Group Relief that arises out of a corresponding deduction in MYL in respect of such imputed interest for the corresponding period or periods, such Group Relief not to exceed the amount of taxable income attributable to such imputed interest and provided that MYL shall not be liable for the inability of the Vendor or its subsidiaries to utilise any such Group Relief.
