Debt Settlement Sample Clauses

Debt Settlement. Debt settlement actions for Economic Opportunity Co- operative loans must be handled under the Federal Claims Collection Act; pro- posals will be submitted to the Na- tional Office for review and approval. A water and/or waste disposal system serving an area which was formerly a rural area as defined in § 1942.17(b)(2)(iii) and (iv) of subpart A of part 1942 of this chapter, but which has become in its entirety part of an urban area, will be serviced in accord- ance with this section.

Debt Settlement. For the purpose of the debt settlement provisions of this MOA, the Parties have agreed to reduce the amounts outstanding owed in all respects by WorldSpace to Alcatel through 31 March 2005, from US$ twenty-six (26) million to US$ nineteen (19) million (the “Settlement Amount”). WorldSpace shall pay such Settlement Amount to Alcatel in accordance with Article 3 hereafter. WorldSpace further agrees that, in the event “*” requests payment from Alcatel with respect to a claim for price adjustments pursuant to the “*” between Alcatel and “*” (the “*” Claim”), the Parties shall jointly enter into negotiations with “*” and use commercially reasonable efforts to eliminate or reduce the amount claimed. The Parties further agree that WorldSpace will be liable for payment of such portion of the “*” Claim equal to the lesser of the total amount thereof as finally determined and US$ two (2.0) million, if and when it becomes due, and acknowledge that such payment would be in addition to the Settlement Amount. Notwithstanding the above, Alcatel has indicated to WorldSpace that, to its knowledge and belief, Alcatel has had no communication from “*” in the last two years suggesting that “*” has an intention to pursue such claim.

Debt Settlement. 1.01 Issuing the Common Stock to the Creditor at a deemed price of US$ 0.50 per share for an aggregate amount equal to Three Hundred and Sixty Three Thousand Eight Hundred and Twenty Two United States Dollars (US $363,822). The Common stock will be issued in reliance upon the exemption from securities registration pursuant to Section 4(2) and/or Regulation S promulgated by the U.S. Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended (the “1933 Act”). The certificates representing the Common Stock will bear legends in substantially the following form: 39 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”) OR OTHER APPLICABLE SECURITIES LAWS. THESE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (1) IN ACCORDANCE WITH THE PROVISIONS OF REGULATIONS S, RULE 901 THROUGH RULE 905, AND PRELIMINARY NOTES UNDER THE 1933 ACT OR (2) PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT. HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE1933 ACT.” 1.02 The Creditor acknowledges and agrees that Three Hundred and Sixty Three Thousand Eight Hundred and Twenty United States Dollars (US $362,822) of Debt have been rendered by the Creditor to the Company to the date of this Agreement and upon receipt of Common Stock by the Creditor.

Debt Settlement. (i) After Closing, GGRI shall cause the debt in the approximate amount of $60,000 due and owing to that certain creditor (the “Creditor”), as reflected on the financial statements of GGRI as of September 30, 2011 (the “$60,000 Debt”) to be settled by issuance to the Creditor and/or his designee an aggregate of 25,000,000 shares of common stock. (ii) Pursuant to the ORE Acquisition Agreement, GGRI agreed within ninety days after closing of that transaction, to cause the debt in the approximate amount of $152,000 due and owing to Xxxxxxxxx Xxxxxxxxx (“Jovanovic”), as reflected on the financial statements of GGRI as of September 30, 2011 (the “Jovanovic Debt”) to be settled by payment to Jovanovic. Despite the rescission of the ORE Acquisition Agreement, the obligations of GGRI in respect of the payments of the Jovanovic Debt set out in the ORE Acquistion Agreement shall be satisfied by virtue of this agreement.

Debt Settlement. DEBT SETTLEMENT AGREEMENT Effective Date: , 20 This Agreement is for the negotiation and compromise of a debt under the following terms and conditions: The Parties. with a mailing address of , City of , State of shall be known as the “Creditor”. This is usually in the case when an individual wants to make a final payment for a debt that is owed. When mentioned jointly shall be known as the “Parties”. with a mailing address of , City of , State of shall be known as the “Debtor”. If the Creditor is a Business Entity, then an individual who is authorized by that Business Entity to sign this document on its behalf must sign his or her Name. This is the amount of money the Debtor has agreed to Pay in the manner defined here in exchange for the Creditor’s debt forgiveness. Through the mutual interest of the Parties, they agree that this outstanding debt shall be marked as paid if Debtor shall make payment of $ by , 20 . Mark the “Check,” “Bank Wire,” “Certified Check,” or “Cash” checkbox to indicate how the Debtor must pay the creditor. Record the Legal Name of the Creditor on the first blank space in the first paragraph. The debtor offers a payment that is less than the outstanding due (usually between 50% to 70%) if the payment can be made immediately. That is, the party that holds the debt. After Payment – After the last payment is complete the Creditor will agree to remove all harmful postings from the Debtor’s credit report. Download it using one of the three buttons presented on this page to choose the format you prefer (Adobe PDF, Microsoft Word (.docx), or Open Document Text (.odt)) 2 – Produce The Requested Information Several pieces of information will need be needed to balance the wording in this Agreement. On the blank line after that, record the Two-Digit Calendar Year for this Date.The next area requiring attention will be “XII. A series of checkboxes have been provided so this may be done efficiently. It is understood amongst the Parties that the Debtor has an outstanding debt with the Creditor. First, we will identify the Creditor. If none of these define how this the Settlement Amount must be paid, then mark the “Other” checkbox and report the Payment Instructions the Creditor expects the Debtor to follow when submitting the required payment.The next sentence in this item will seek to solidify the Date when the Creditor must receive the Settlement Amount from the Debtor. Then, using the second blank line, document the Creditor’s Street Address. ...

Debt Settlement. 1.01 The Company will pay and satisfy the Debt by issuing the Shares to the Creditor at a deemed price of US$3.00 per share for an aggregate amount equal to the Debt payable on April 18, 2000. 1.02 The Creditor acknowledges and agrees that all outstanding accounts have been rendered by the Creditor to the Company to the date of this Agreement and upon issuance of the Shares to the Creditor there will be no outstanding liability of the Company to the Creditor.

Debt Settlement. On 18 February 2021, the Company, the Provisional Liquidators and Secured Creditor A entered into Debt Settlement Agreement A, pursuant to which Secured Creditor A shall release and discharge the BC Collateral held by it, and all claims, rights and interests against the Company and certain Group companies with effect from the Completion.

Debt Settlement. On 18 February 2021, the Company, the Provisional Liquidators and Secured Creditor A entered into Debt Settlement Agreement A, pursuant to which Secured Creditor A shall release and discharge the security held by it in respect of the BC Collateral, and all claims, rights and interests against the Company and certain Group companies with effect from Completion. As at the date of this announcement, Debt A amounts to approximately HK$100.17 million. As at the date of this announcement, Xxxxxxx China has ongoing legal proceedings in the PRC in respect of certain disputes over the ownership of its associate, namely the Steel JV. Hearings in respect of the Proceedings were held on 19 March 2021 and 19 April 2021 in the Yichun Intermediate People’s Court, Jiangxi Province, the PRC, and the Court is in the process of making a determination and handing down a judgment. Further announcement(s) in this regard will be made by the Company as and when appropriate. Pursuant to Debt Settlement Agreement A, the amount to be received by Secured Creditor A for the settlement of Debt A shall depend on the results of the Proceedings. Should the Proceedings be finally determined in favour of Burwill China and there is no further right of appeal by the parties to the Proceedings, or the counterparty(ies) withdraw(s) from the Proceedings other than by way of a settlement, such that the Group retains equity interest in the Steel JV without incurring additional costs (i.e. the Successful Scenario), Secured Creditor A would be entitled to HK$35.00 million (i.e. the Secured Settlement Amount) and an amount equating to X calculated as below. Should the Proceedings be finally determined in favour of the counterparty(ies) to the Proceedings and there is no further right of appeal by the parties to the Proceedings, or Burwill China withdraws from the Proceedings, or under any other scenarios (including without limit a settlement amongst the parties) which result in the cessation of the Proceedings (i.e. the Other Scenarios), the BC Collateral would be rendered valueless and the entire amount of Debt A (including the Secured Settlement Amount) shall be regarded as unsecured debt, and Secured Creditor A would be entitled to an amount equating to Y calculated as below. Pursuant to Debt Settlement Agreement A, the Administrators shall hold an amount equating to B as calculated below until the Proceedings have been finally determined and there is no further right of appeal by the parties to t...

Debt Settlement. (i) After Closing, GGRI shall cause the debt in the approximate amount of $60,000 due and owing to that certain creditor (the “Creditor”), as reflected on the financial statements of GGRI as of September 30, 2011 (the “$60,000 Debt”) to be settled by issuance to the Creditor and/or his designee an aggregate of 25,000,000 shares of common stock. (ii) Within ninety days after Closing, GGRI shall cause the debt in the approximate amount of $152,000 due and owing to Xxxxxxxxx Xxxxxxxxx (“Xxxxxxxxx”), as reflected on the financial statements of GGRI as of September 30, 2011 (the “Jovanovic Debt”) to be settled by payment to Jovanovic. .

Debt Settlement. 3.1. In Settlement of the Second Loan, the Company shall: (a) issue a total of 15,065,570 Shares to the Creditor or eligible persons designated by the Creditor (the “Debt Settlement Shares”); (b) transfer to the Creditor or eligible persons determined by the Creditor a total of 1,400,000 common shares of Xxxxxx Capital Corp. (the “Xxxxxx Shares”) currently owned by the Company. 600,000 of the Xxxxxx Shares shall be transferred within five (5) business days of the Effective Date and 800,000 shall be transferred within five (5) business days of the date the Company receives the share certificate representing the 800,000 Xxxxxx Shares; and (c) in circumstances where the Consultant introduces to the Company sub-licensees or joint venture partners (“Partners”) for the purpose of using the Company’s Technology, the Company shall pay 20% of the net cash proceeds received by the Company from the Partners (the “Partnership Interest”) to the Consultant. The Consultant shall also be involved in the negotiation of any agreements with the Partners. The Company shall be under no obligation to enter into an agreement or terminate any agreement with any Partners. 3.2. In consideration of the Debt Settlement Shares the Xxxxxx Shares and the Partnership Interest the Creditor and the Consultant agree to completely release and forever discharge the Company from any and all past, present or future claims, demands, obligations, actions, causes of action, rights, damages, costs, loss of services, expenses and compensation which the Creditor or Consultant has had, now has, or which may hereafter accrue or otherwise be acquired by the Creditor against the Company with respect to the Second Loan and the Consulting Agreement. 3.3. The Company shall similarly completely release and forever discharge the Creditor and Consultant from any and all past, present or future claims, demands, obligations, actions, causes of action, rights, damages, costs, loss of services, expenses and compensation which the Company has had, now has or which may hereafter accrue or otherwise be acquired by the Company against the Creditor or Consultant with respect to the Second Loan and the Consulting Agreement.