Payment of Outstanding Debt. The Company shall have paid and discharged all Debt in excess of that permitted by paragraph 6C(2), including, without limitation, all Debt listed on Schedule I attached hereto except the items listed in Part B of Schedule I, and you shall have received such evidence as you may request to establish compliance with this condition.
Payment of Outstanding Debt. The Parties agree that if the Defendants do not breach this Agreement the Plaintiffs will accept $65,500.00 as payment in full (the "Settlement Amount"). Defendants agree to pay the Outstanding Obligation in full as follows:
i. $2,000.00 one time payment, via ACH, to be received on or before 09/27/2021; ii. $3,000.00 monthly payment, via ACH, beginning 10/27/2021, and by the 27th of each month thereafter, until the settlement balance has been paid in full;
Payment of Outstanding Debt. The Parties agree that if the Defendants do not breach this Agreement the Plaintiffs will accept $150,000.00 as payment in full (the "Settlement Amount"). Defendants agree to pay the Outstanding Obligation in full as follows:
(a) $4,456.00 via conditional release from the funds restrained at Fab Habitat Corp.;
(b) $4,640.00 via conditional release from the funds restrained at Rocky Mountain Supply.;
(c) $2,500.00 via ACH beginning on August 15, 2024.;
(d) $3,000.00 via ACH beginning on October 10, 2024 until settlement balance has been paid in full.;
Payment of Outstanding Debt. The Parties agree that if the Defendants do not breach this Agreement the Plaintiffs will accept $178,926.00 as payment in full (the "Settlement Amount"). Defendants agree to pay the Outstanding Obligation in full as follows:
Payment of Outstanding Debt. On or prior to the Closing Date, Rxxxxxxx will pay all Debt of Rxxxxxxx and its Subsidiaries such that Rxxxxxxx and its Subsidiaries will have no Debt as of the Effective Time, and will cause Rxxxxxxx and each of its Subsidiaries to be released from all liabilities or obligations that are secured by a Lien on any real or personal property that is owned by Rxxxxxxx or any of its Subsidiaries as of the Effective Time. "Debt” means, without duplication, (i) indebtedness of a Person for borrowed money, including the face amount of any letter of credit supporting the repayment of indebtedness for borrowed money issued for the account of such Person and obligations under letters of credit and agreements relating to the issuance of letters of credit or acceptance financing; (ii) obligations of such Person evidenced by bonds, debentures, notes or other similar instruments; (iii) obligations of such Person to pay the deferred purchase price of property or services (including obligations that are non-recourse to the credit of such Person but are secured by the assets of such Person, but excluding trade accounts payable that are not past due or are contested by such Person in good faith); (iv) obligations of such Person as lessee under capital leases and obligations of such Person in respect of synthetic leases; (v) obligations of such Person under any hedging arrangement; (vi) obligations of such Person under direct or indirect guaranties in respect of, and obligations (contingent or otherwise) of such Person to purchase or otherwise acquire, or otherwise to assure a creditor against loss in respect of, indebtedness or obligations of others of the kinds referred to in clauses (i) through (v) above; and (vii) indebtedness or obligations of others of the kinds referred to in clauses (i) through (vi) secured by any Lien on or in respect of any property of such Person.
Payment of Outstanding Debt. At Closing, the proceeds of the Purchase Price shall be first used to pay and discharge in full the total amount of all outstanding indebtedness of Seller as set forth in Schedule 2.4 (the “Outstanding Indebtedness”) and Seller shall take all actions necessary to defease any and all bonds or other instruments related to such Outstanding Indebtedness.
Payment of Outstanding Debt. (a) On the Initial Closing Date and upon receipt of the Seller Balance, Holding will:
(i) if Purchaser has not paid the Defeasance Payment prior to the Initial Closing, retire or defease Holding’s allocated share of the PIT Bond Debt (or, alternatively, at DASNY’s request, Holding shall instruct Purchaser to, at the Initial Closing, pay directly to DASNY, or to a third party as directed by DASNY, that portion of the Seller Balance needed to retire or defease Holding’s allocated share of the PIT Bond Debt);
(ii) pay that certain mortgage in the original principal amount of $1,600,000 granted by Long Island College Hospital to AIP Associates and currently held by The Health Sciences Center at Brooklyn Foundation, Inc., pursuant to Assignment of Mortgage from U.S. Bank National Association; and
(iii) if sufficient funds exist after the payment of (i) and (ii), above, set aside a reasonable reserve (the “Reserve”), not to exceed $2,000,000, for payment of payables, debts and liabilities of Holding that are not known or have not yet accrued as of the Initial Closing Date.
(b) On the Final Closing Date and upon receipt of the Final Amount, Holding will (i) pay all then-known outstanding debts and liabilities of Holding, including any debts and liabilities that are Holding’s obligation then to pay under the Purchase Agreement; and
Payment of Outstanding Debt. The Sellers and the Company shall procure payment of the shareholder loan in accordance with Schedule 18 (the Flow of Funds). Subject to receipt of payment thereof, Synergia grants the Company hereby full and final discharge for any amounts outstanding under the shareholder loan granted by Synergia.
Payment of Outstanding Debt. 3.1 As full and final payment of the Outstanding Debt, the Company will, on the Closing Date (as defined herein):
(a) issue to the Subscriber 2,500,000 fully paid and non-assessable shares of common stock of the Company, at a deemed price of $0.10 per Share, in settlement of $250,000 of the Outstanding Debt; and
(b) issue to the Subscriber the New Note representing the balance of the Outstanding Debt of $50,000 plus accrued interest payable in connection with the Note in settlement of the balance of the Outstanding Debt, and the Subscriber will accept the shares and the New Note described clauses (a) and (b) above as full and final payment of the Outstanding Debt.
Payment of Outstanding Debt. It is understood amongst the parties to this Agreement that Contractor has an outstanding debt of $2,729,500.00 incurred as a result of penalty fines imposed under Contract 2014158 with County for the period of January 1, 2015 through December 31, 2019. Contractor and County acknowledge that this debt is due and owing and have agreed to the following terms to satisfy the outstanding debt. Contractor shall pay an initial payment of $1,364,750.00 upon execution of this Agreement and shall pay $37,909.72 monthly for 36 months, due by the 5th business day of each month to satisfy the outstanding debt of $1,364,750.00 with the first monthly payment starting July 5, 2020. In addition, Contractor agrees to furnish, as soon as possible but no later than June 5, 2020, performance security the form of a performance bond in the amount of two million four hundred thousand dollars ($2,400,000). It is agreed among the parties that the one million dollar ($1,000,000) bond referenced in Exhibits A and B, is hereby increased by one million four hundred thousand dollars ($1,400,000) to provide performance security for Contractor’s remaining outstanding debt of $1,364,750.00. Contractor’s failure to provide the bond by June 5, 2020, or failure to submit bond renewal confirmation within 7 days of written request by County will constitute a material breach of the Agreement. The performance bond in the amount of $2.4 million, which is renewable annually, is to be maintained until the monetary obligations above have been paid in full, provided that amount of the performance bond may be reduced annually based on the total amount remaining to be paid to the County. While the performance bond may be extended, at the sole option of the surety, by continuation certificate for additional periods from the expiration date of the performance bond, neither: (a) the surety’s decision not to issue a continuation certificate, nor (b) the failure or inability of Contractor to file a replacement bond or other security in the event the surety exercises its right to not renew the performance bond, shall itself constitute a loss to County recoverable under the performance bond or any extension thereof. The performance bond must be issued by a bonding company, appropriately licensed and acceptable to County. The language of the performance bond shall recognize and accept the requirement of immediate release of funds to County upon determination by County that Contractor has failed to perform servi...
