Repayment of Outstanding Indebtedness. The Credit Parties or the Lender, on behalf of the Credit Parties, shall have repaid in full all outstanding indebtedness secured by Collateral, other than indebtedness giving rise to Permitted Liens. By its execution hereof, the Credit Parties authorize the Lender to offset any and all amounts outstanding to Diamond from the Proceeds of the Note and to pay Diamond directly on the Closing Date.
Appears in 4 contracts
Samples: Agreement, Security Agreement (Sunpeaks Ventures, Inc.), Guaranty Agreement (Sunpeaks Ventures, Inc.)
