Parent Loans. (a) Except as permitted under paragraph (b) below, no Obligor shall (and the Borrower shall ensure that no other Group Member will):
(i) repay or prepay any principal amount (or capitalised interest) outstanding under the Parent Loans;
(ii) pay any interest or any other amounts payable in connection with the Parent Loans; or
(iii) purchase, redeem, defease or discharge any amount outstanding with respect to the Parent Loans.
(b) Paragraph (a) above does not apply to a payment, repayment, prepayment, purchase, redemption, defeasance or discharge which is a Permitted Distribution or is otherwise permitted under the Intercreditor Agreement.
Parent Loans. 47 SECTION 6.20. Noncompetition and Non-Hire Agreements.........................47
Parent Loans. (a) If this Agreement has not been terminated and the Merger has not been consummated by May 31, 2000, Parent shall, if requested in writing by the Company, provide a loan to the Company in a principal amount not to exceed $5,000,000.
(b) If this Agreement has not been terminated and the Merger has not been consummated by August 15, 2000, Parent shall, if requested in writing by the Company, provide an additional loan to the Company in a principal amount not to exceed $5,000,000.
(c) If Parent terminates this Agreement in violation of Section 9 at any time prior to August 15, 2000, Parent shall, if requested in writing by the Company, provide a loan the Company in a principal amount not to exceed $5,000,000.
(d) Each of the loans referred to in clauses (a), (b) and (c) of this Section 6.19 shall be evidenced by a promissory note substantially in the form of Exhibit F hereto and shall be provided on such other terms and conditions to be agreed between Parent and the Company.
Parent Loans. Following the execution of this Agreement but prior to the earlier of the Closing or the termination of the Agreement in accordance with Section 9, Parent may loan the Seller funds for operating expenses incurred following the date of this Agreement in accordance with a secured promissory note in a form satisfactory to Parent. Any cash loaned by Parent or Buyer to Seller retained by Seller on the Closing Date shall be repaid to Parent or Buyer on the Closing Date.
Parent Loans. Any and all unsecured loans made by the Parent to the Borrower prior to the date of the first Loans under this Agreement up to an aggregate principal amount outstanding at any time not exceeding $47,000,000.
Parent Loans. On the Termination Date, the aggregate principal amount of all Parent Loans then outstanding shall be due and payable in full."
Parent Loans. If permitted under Hungarian law, on or before the Closing Date, the Parent shall eliminate the stockholder deficit in the Buyer by exchanging the total outstanding amount of all loans and advances made by the Parent to the Buyer prior to the date of this Agreement (the “Parent Loans”) for an amount of preferred or preference shares of the Buyer (the “Buyer Preference Shares”) set forth below, so that as at the Closing Date, the Buyer shall have either a positive stockholders equity or capital of not less than United States One Thousand Dollars (USD $1,000.00). If the issuance of Buyer Preference Shares is not permitted under Hungarian law, on the Closing Date, the Parent shall eliminate the stockholder deficit in the Buyer by cancelling all Parent Loans, so that as at the Closing Date, the Buyer shall have either a positive stockholders equity or capital of not less than United States One Thousand Dollars (USD $1,000.00).
Parent Loans. Immediately prior to the Closing, Parent shall make the Parent Funded Debt Loan and the Parent Merger Loan to Benchmark and in connection therewith Benchmark shall issue promissory notes to Parent substantially in the form attached hereto as Exhibit 5.
Parent Loans. Benchmark shall have received the proceeds from the Parent Funded Debt Loan and the Parent Merger Loan.
Parent Loans. The obligation of the Subsidiary to make Parent Loans is subject to the conditions precedent that: (a) no Parent Default, or Unmatured Parent Default, has occurred and is continuing or will result from the making of such Parent Loan, (b) the warranties of the Parent contained in Section 6 are true and correct as of the date of such requested Parent Loan, with the same effect as though made on the date of such Parent Loan and (c) the Subsidiary continues to be a direct or indirect subsidiary of the Parent.
