Indebtedness Payoff. At the closing of a SPAC Merger or at the effective time of an IPO, as the case may be, except as otherwise agreed to in writing by Holdings and the Representative, Holdings shall pay in full (or cause to be paid) all amounts owed by the Target Company and its Subsidiaries to the holders of Target Company Indebtedness, including, without limitation, all Target Company Stockholder Indebtedness.
Appears in 4 contracts
Sources: Merger Agreement (AIRO Group Holdings, Inc.), Merger Agreement (AIRO Group Holdings, Inc.), Merger Agreement (AIRO Group Holdings, Inc.)