Settlement of Indebtedness Sample Clauses

Settlement of Indebtedness. 2.1 The Company and the Subscriber acknowledge that:
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Settlement of Indebtedness. The Company covenants and agrees to settle or payoff any of the Indebtedness listed on Schedule 3.20 prior to the Closing Date.
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Settlement of Indebtedness. Subject to the terms and conditions hereinafter set forth, the Creditor hereby agrees to accept the issuance by the Company to the Creditor of a number of Warrants equal to the amount of the Indebtedness divided by a price of $0.021 US per Warrant as payment in full of the Indebtedness.
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Settlement of Indebtedness. 3.1 The Corporation and the Creditor agree to offset the full amount of the Purchase Price against the full amount of the Indebtedness.
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Settlement of Indebtedness. 5.1 In case of any default on loan principal, interest or any other amount payable by the Guarantee upon maturity of such indebtedness, the Guarantor shall, within 7 days after receiving the notification from the Obligee, settle such indebtedness with the Obligee in a lump sum and in accordance with the instruction on amount, currency, settlement method, settlement date and place etc. of the notification.
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Settlement of Indebtedness. 7.1. The Sellers shall procure that effective as per Closing:
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Settlement of Indebtedness. Amershadian hereby represents and warrants to CoActive that, excluding the Restricted Shares, he is the owner of record of 163,196 shares of Common Stock (the "Shares"), which are subject to CoActive's first-priority perfected security interest. Concurrently with the execution of this Agreement (i) all Stock Options shall terminate and cease to be exercisable, and (ii) Amershadian shall sell and transfer all of the Shares to the persons identified on Schedule 1 hereto (the "Purchasers"), at a price per Share equal to 85% of the average closing sales price of the Common Stock on the Nasdaq Capital Market for the five trading days preceding the date of this Agreement. CoActive's lien and security interest on the Shares shall attach to the proceeds of such sale, which shall be paid by the Purchasers directly to CoActive and applied against the oustanding indebtedness under the Note. By his execution hereof, Amershadian authorizes CoActive and its agents to cause the Shares to be transferred to the Purchasers upon receipt by CoActive of the purchase price therefor as provided herein, and in connection therewith Amershadian hereby appoints CoActive and its agents as his attorney-in-fact and proxy with full authority and in his name or otherwise, to take any action and to execute any instrument to effect such transfer. Upon receipt by CoActive of such payment for the Shares (i) all of Amershadian's remaining indebtedness under the Note shall be cancelled and deemed to have been satisfied in full, and (ii) CoActive's lien and security interest on any other assets of Amershadian shall be released. CoActive shall from time to time execute such releases as Amershadian may reasonably request to evidence such release. CoActive may amend Schedule 1 to this Agreement without Amershadian's consent to reflect any change in the Purchasers of the Shares.
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Settlement of Indebtedness. 5.1. The Seller shall procure that effective as per Completion:
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Settlement of Indebtedness. As full and final payment and satisfaction of the Debt, the Issuer will on the Closing Date (as defined herein) deliver to the Creditor the Settlement Shares as duly issued, fully paid and non-assessable common shares in the capital of the Issuer registered in the name of the Creditor and the Creditor will accept the Settlement Shares as full and final payment and settlement of the Debt. The parties acknowledge and agree that as at and from the Closing Date (as defined below) the parties will have no further obligations to each other in relation to the Debt.
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Related to Settlement of Indebtedness

  • Payment of Indebtedness Pledgor will pay the principal sum of the Note secured hereby, together with interest thereon, at the time and in the manner provided in the Note.

  • Repayment of Indebtedness Except as disclosed in the Registration Statement and the Prospectus, the Company does not intend to use any of the proceeds from the sale of the Shares to repay any debt owed to the Sales Agent or the Forward Seller or any affiliate thereof.

  • Prepayment of Indebtedness At any time, directly or indirectly, prepay any Indebtedness (other than to Lenders), or repurchase, redeem, retire or otherwise acquire any Indebtedness of any Borrower.

  • Amendment, Etc. of Indebtedness Amend, modify or change in any manner any term or condition of any Indebtedness set forth in Schedule 7.02, except for any amendment, refinancing, refunding, renewal or extension thereof permitted by Section 7.02(e).

  • Acknowledgement of Indebtedness 2.1 The Company and the Subscriber acknowledge and agree that the Company is indebted to the Subscriber in the amount of the Outstanding Amount.

  • Payments of Indebtedness Such Obligor will not, and will not permit any of its Subsidiaries to, make any payments in respect of any Indebtedness other than (i) payments of the Obligations, (ii) scheduled payments of other Indebtedness and (iii) repayment of intercompany Indebtedness permitted in reliance upon Section 9.01(f).

  • Prepayments, Etc. of Indebtedness (a) None of the Covenant Parties shall, nor shall they permit any of their Restricted Subsidiaries to, directly or indirectly, prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner (it being understood that payments of regularly scheduled interest shall be permitted) the Senior Subordinated Debt, any subordinated Indebtedness incurred under Section 7.03(g) or any other Indebtedness that is required to be subordinated to the Obligations pursuant to the terms of the Loan Documents, but excluding any Existing Indebtedness or Outstanding Indebtedness (collectively, “Junior Financing”) or make any payment in violation of any subordination terms of any Junior Financing Documentation, except (i) the refinancing thereof with the Net Proceeds of any Indebtedness (to the extent such Indebtedness constitutes a Permitted Refinancing and, if such Indebtedness was originally incurred under Section 7.03(g), is permitted pursuant to Section 7.03(g)), to the extent not required to prepay any Loans pursuant to Section 2.05(b), (ii) the conversion of any Junior Financing to Equity Interests (other than Disqualified Equity Interests) of the Company or any of its direct or indirect parents, (iii) the prepayment of Indebtedness of any Covenant Party or any Restricted Subsidiary of a Covenant Party to the extent permitted by the Collateral Documents, (iv) any payments in respect of Senior Subordinated Debt constituting bridge loans with the proceeds of any other Junior Financing and (v) prepayments, redemptions, purchases, defeasances and other payments in respect of Junior Financings prior to their scheduled maturity in an aggregate amount not to exceed $250,000,000 plus, if the Total Leverage Ratio calculated on a Pro Forma Basis is less than or equal to 7.00 to 1.00, the portion, if any, of the Cumulative Credit on such date that Xxxxxxx elects to apply to this paragraph, such election to be specified in a written notice of a Responsible Officer of Xxxxxxx calculating in reasonable detail the amount of Cumulative Credit immediately prior to such election and the amount thereof elected to be so applied.

  • Evidence of Indebtedness (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such Lender, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.

  • Incurrence of Indebtedness So long as this Note is outstanding, the Company shall not, and the Company shall not permit any of its Subsidiaries to, directly or indirectly, incur or guarantee, assume or suffer to exist any Indebtedness, other than Permitted Indebtedness.

  • Subordination of Indebtedness Any indebtedness or other obligation of Borrower now or hereafter held by or owing to Guarantor is hereby subordinated in time and right of payment to all obligations of Borrower to Bank, except as such indebtedness or other obligation is expressly permitted to be paid under the Credit Agreement; and such indebtedness of Borrower to Guarantor is assigned to Bank as security for this Guaranty, and if Bank so requests shall be collected, enforced and received by Guarantor in trust for Bank and to be paid over to Bank on account of the Obligations of Borrower to Bank, but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes now or hereafter evidencing such indebtedness of Borrower to Guarantor shall be marked with a legend that the same are subject to this Guaranty and shall be delivered to Bank.

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