Settlement of Debt. Arvana will issue to Creditor two million five hundred and ninety thousand two hundred and ninety two (2,590,292) shares of its restricted common stock (“Settlement Shares”) as provided herein, valued for the purposes of this Agreement at four U.S. cents ($0.04) per share in full and complete satisfaction of the Debt.
Settlement of Debt. Assignee shall use its best efforts to settle all outstanding debt on the balance sheet by way of negotiation with the Creditors except for the debt owing to auditors or the debt owing to the shareholders of Fresh Traffic Group Corp. as defined in 1.2.2 above. Such debt settlements may be by the way of post-split shares of Assignee if required, but in any event shall not be at less than $0.005 per common share.
Settlement of Debt. 2.1 In exchange for full payment and settlement of the Debt, Anfield shall:
(a) pay to UEC US$9,171,033.00 in cash, representing one-half of the Debt, by wire transfer immediately upon closing of the Transactions, in accordance with the payment instructions provided in Schedule “A” attached hereto (the “Cash Settlement”); and
(b) issue to UEC fully-paid and non-assessable units (each, a “Debt Unit”) of Anfield having an aggregate deemed issue price of US$9,171,033.00, representing one-half of the Debt, to be issued at a deemed price per Debt Unit (the “Debt Unit Issue Price”) equal to the Financing Price (as defined below), denominated in U.S. dollars, to be determined in accordance with Section 4.1 (the “Securities Settlement”; and together with the Cash Settlement, the “Debt Settlement”).
Settlement of Debt eRXSYS and Xxxxxx previously agreed that Xxxxxx would be reimbursed $370,000 for personal funds he advanced to secure a license from Safescript Pharmacies, Inc., formerly known as RTIN Holdings, Inc., on or about March 27, 2003. These funds plus interest at a rate of five percent (5%) per annum were due and payable in full to Xxxxxx on December 31, 2007. eRXSYS and Xxxxxx now agree that Xxxxxx shall accept $10,000 cash and 494,000 shares of eRXSYS common stock within 30 days of this Agreement to release and forever discharge eRXSYS from all liability associated with this debt.
Settlement of Debt. The Company shall have settled the outstanding indebtedness set forth on Schedule 7.10, or Buyer shall have acquired such debt, on terms that are acceptable to Buyer in its sole discretion. Buyer shall have received such documents evidencing such settlements or acquisitions as are acceptable to it in its sole discretion.
Settlement of Debt. LTC shall issue to Arch Hill Capital and Arch Hill Capital shall acquire from LTC the Shares in full and complete settlement of the Debt.
Settlement of Debt. The parties acknowledge that Global has incurred certain expenses on behalf of the Company in connection with the Operation, such expenses totaling the amount of R$942,491.50(the “Global Credit”). Global hereby represents and warrants that the Global Credit is the total and sole amount that it may claim as being incurred in reliance or contemplation of the transactions contemplated by the Parties under the Investment Agreement. Global and the Company hereby set-off part of the Debt against the Global Credit resulting in a balance owed in the amount of R$172,508.50 (the “Balance”). Upon the signing of this agreement by Global, the Company will reduce the Balance to an amount of R$125,00.00 (the “Amount Owed”) which amount shall continue to be owed by Global to the Company, as per the terms and conditions set forth in Section 4.3 below.
Settlement of Debt. The repurchase or redemption by the Company or the Partnership of any security or debt (except to the extent such debt is due according to its terms) other than the Note (as defined in the Amended and Restated Limited Partnership Agreement);
Settlement of Debt. The parties hereto agree that as part of the consideration for this agreement shall be the cancellation of all obligations and debts, including ownership of common stock owed to Motor and/or Xxxxxx by Genesis, Global or Xxxxxx, including any possible consequential damages arising from or connected with those debts, obligations or ownership of common stock, including all shares of Caye Chapel, Inc. Each of the Parties hereby agree to the terms of this Agreement.
