Extinguishment of Indebtedness. On the Closing Date, Parent and ------------------------------ Sub shall be deemed to have paid and discharged all or a portion of the Purchase Order Amount equal to the product of the number of Shares multiplied by the Closing Price. Purchaser agrees that, except to the extent of the unpaid Balance, if any, Parent and Sub shall be deemed to have paid and discharged the Purchase Order Amount in full on the Closing Date. If, after the Closing Date, any Balance remains unpaid, Parent and Sub shall be deemed to have paid and discharged the Purchase Order Amount in full on payment of the final installment of the Balance.
Extinguishment of Indebtedness. On the Closing Date, Creditor shall accept the Assets to be Acquired in full satisfaction of the Debt of Debtor to Creditor. Creditor acknowledges that it shall recognize the unpaid balance of the Debt as an uncollectible loss, subject to effectuation of the terms and conditions and consummation of the Closing as provided in this agreement. On and after the Closing Date, with respect to Debtor, the Debt shall be null, void and of no effect.
Extinguishment of Indebtedness. Upon the payment as provided for in Section 2.1 hereof, the granting of an interest in the Xxxx Valley Project as provided for in Section 2.2 hereof, and the granting of the Warrant as provided for in Section 2.3 hereof, any and all Indebtedness of the Company and each of its Subsidiaries shall be deemed to have been fully paid, discharged, extinguished or forgiven, as the case may be, with the effect that the Bank shall have no claim of any sort for money lent or interest thereon, against the Company or any of its Subsidiaries, whether individually or collectively, except as provided in Section 2.12 hereof.
Extinguishment of Indebtedness. Notwithstanding anything heretofore to the contrary, on the Closing Date, RHI shall accept the Debtor's Estate to be acquired, in exchange of the Debt . To the extent that the Debt exceeds the value of the revenues and proceeds derived from the Debtor's Estate after crediting such revenues and proceed against the Debt, Debtor acknowledges its continuing obligation for the unpaid balance to the Creditor.
Extinguishment of Indebtedness. At the Closing, Parent and Sub ------------------------------ shall be deemed to have repaid the amount equal to the number of Shares issued to PURCHASER multiplied by the Closing Price as of the time of issuance of the stock certificates evidencing the Shares. PURCHASER agrees that, except to the extent additional amounts are still due pursuant to Section 2(b) above, Parent and Sub shall be deemed to have repaid the Purchase Order Amount in full upon delivery of the stock certificates. If at the Closing additional amounts are still due pursuant to Section 2(b) above, Parent and Sub shall be deemed to have repaid the whole Purchase Order Amount in full upon payment of the final installment payment of the Balance.
Extinguishment of Indebtedness. The Indebtedness shall have been ------------------------------ extinguished in full.
Extinguishment of Indebtedness. In connection with the transactions contemplated under this Agreement, and in consideration of the Purchase Price and other good and valuable consideration provided herein, Seller hereby agrees to extinguish any unpaid but due profits from Purchaser to Seller with respect to the JV Agreement and any debt associated with capital purchases under said JV Agreement (“Purchaser Indebtedness”) Seller agrees and acknowledges that Purchaser shall have no obligation to repay the Purchaser Indebtedness to Seller, and Seller shall have no right to demand Purchaser’s repayment of such indebtedness. Seller, on behalf of Seller and Seller’s Affiliates, heirs, successors and assigns, hereby releases and discharges Purchaser from any and all claims, demands, rights, causes of action, proceedings, orders, remedies, obligations, damages and liabilities of whatsoever kind or character arising in connection with, or out of, the Purchaser Indebtedness.
Extinguishment of Indebtedness. The indebtedness of Matria and Seller in respect of that certain Invoice Number 000397 dated January 28, 2000 in the amount of $12,796.50 shall be extinguished as of the Closing.
Extinguishment of Indebtedness. The Indebtedness shall have been extinguished in full.
Extinguishment of Indebtedness. On the Closing Date, Parent and ------------------------------ Sub shall be deemed to have paid and discharged all of the Purchase Order Amount.
