Remaining Debt. Assignee and Borrower acknowledge that at each Purchase Tranche Closing, and subject to Lender’s receipt of the Applicable Purchase Price, only the Applicable Assigned Debt represented by the specific replacement debenture representing the applicable Purchase Tranche shall be deemed sold and assigned hereunder, it being acknowledged by Assignee and by Borrower that the remaining portion of the debt evidenced by the Replacement Debentures (or any replacement debentures issued in replacement thereof as hereby contemplated, as applicable) for which the Applicable Purchase Price has not been paid and received by Lender (the “Remaining Debt”) shall not be sold or assigned thereby unless and until additional replacement debentures for additional Purchase Tranches are thereafter sold in accordance with this Agreement and the Applicable Purchase Price therefor is received by Lender.
Remaining Debt. Assignee and Borrower acknowledge that at each Purchase Tranche Closing, and subject to Lender’s receipt of the Applicable Purchase Price, only the Applicable Assigned Debt represented by the specific replacement debenture representing the applicable Purchase Tranche shall be deemed sold and assigned hereunder, it being acknowledged by Assignee and by Borrower that the remaining portion of the debt evidenced by the Fourth Replacement Debenture B (or any replacement debentures issued in replacement thereof as hereby contemplated, as applicable) for which the Applicable Purchase Price has not been paid and received by Lender (the “Remaining Debt”) shall not be sold or assigned thereby unless and until additional replacement debentures for additional Purchase Tranches are thereafter sold in accordance with this Agreement and the Applicable Purchase Price therefor is received by Lender. The Remaining Debt shall include no less than $300,000 of debt which shall remain in the possession of the Assignor to be sold and assigned to Old Main.
Remaining Debt. To avoid doubt, from Completion, the relevant Group Companies (and indirectly the Buyer through its acquisition of the Shares) will remain responsible for and liable to discharge the Remaining Debt. -------------------------------------------------------------------------------- 3 Conditions Precedent
Remaining Debt. Payees agree to forgive any and all remaining debt and contingent debt amounts due Payees by Kaire Holdings, Inc. under the Agreement and Plan of Merger as Amended December 6.
Remaining Debt. The aggregate outstanding balance of the Tranche A Term Loan shall not exceed $19,700,000 at any time. The aggregate outstanding balance of the Tranche B Term Loan shall not exceed $6,800,000 (plus accrued paid-in-kind interest) at any time. The Tranche A Term Loan shall not be held by an Affiliate of the Company at any time. The Credit Agreement may not be amended to the extent such amendment would: (i) increase
Remaining Debt. The remaining amount of the Debt (the “Remaining Debt”) after conversion of $3,500,000 of the Debt to shares of Series AA Preferred Stock is $528,700 (five hundred twenty eight thousand seven hundred dollars). The Remaining Debt will be due on March 2, 2006. The Remaining Debt may not be prepaid so long as the Series AA Preferred Stock remains outstanding and unsatisfied. The Remaining Debt will accrue interest at a simple (non-compounded) rate of 15% (fifteen percent) per annum. Interest shall be paid quarterly on the first day of June, September, December and March of the respective years, commencing on June 1, 2004. The Remaining Debt will continue to be secured by the assets of Global Med as provided in the Agreement.
Remaining Debt. 3.1 The Seller is the sole legal and beneficial owner of the Remaining Debt and has the right to receive all amounts of outstanding principal and accrued but unpaid interest in respect of the Remaining Debt from time to time.
