Stockholder Loans. In the event that any Stockholder has outstanding loans from the Company as of the Effective Time, the consideration payable to such Stockholder pursuant to this Section 1.6 shall be reduced by an amount equal to the sum of the outstanding principal plus accrued interest of such Stockholder’s loans as of the Effective Time. Such loans shall be satisfied only as to the amount by which the consideration is reduced pursuant to this Section 1.6(f). To the extent the consideration payable to such Stockholder is so reduced, such amount shall be treated for all purposes under this Agreement as having been paid to such Stockholder.
Stockholder Loans. All loans and other advances made to stockholders, employees, officers or directors of the Company or any Company Subsidiary (excluding (x) loans between the Company and any Company Subsidiary or between two Company Subsidiaries and (y) loans and advances to employees for reasonable, travel, business and moving expenses in the ordinary course of business) shall have been repaid, and the Parent shall have received evidence of such repayment satisfactory in form and substance to Parent in its sole discretion.
Stockholder Loans. In the event that any Company Holder is indebted to Company as of the Effective Time, the amount of Initial Merger Consideration payable to such Company Holder pursuant to this Section 1.6 shall be reduced by an amount equal to the outstanding principal plus accrued interest of such Company Holder’s indebtedness to Company (the aggregate amount of all such loans, referred to herein as the “Stockholder Loans”) as of the Effective Time. Such loans shall be satisfied as to the amount by which the consideration is reduced pursuant to this Section 1.6(d).
Stockholder Loans. At the Effective Time, Parent shall pay to the Surviving Corporation the amount in cash (the “Stockholder Loan Repayment”), set forth on Section 2.6(j) of the Company Disclosure Schedule, equal to the aggregate unpaid principal and unpaid accrued interest on the outstanding notes issued to Company by the Company Stockholders set forth on Section 2.6(j) of the Company Disclosure Schedule in connection with the acquisition by such Persons of shares of Company Stock. Section 2.6(j) of the Company Disclosure Schedule sets forth, for each such borrower, the amount of such unpaid principal and unpaid accrued interest as of the date hereof; provided, however, that Company shall update such calculation two (2) business days prior to the expected Closing Date to show, for each such borrower, the amount of such unpaid principal and unpaid accrued interest as of the Closing Date. Such payment by Parent to the Surviving Corporation of the Stockholder Loan Repayment shall be deemed to be on behalf of such borrowers and, upon the making of such payment, such notes shall be deemed fully repaid and discharged. Parent shall instruct the Paying Agent, with respect to each such borrower, to deduct from such borrower’s Stockholder Merger Payment the applicable portion of the Stockholder Loan Payment as set forth on Section 2.6(j) of the Company Disclosure Schedule.
Stockholder Loans. In the event that any stockholder of the Company has outstanding loans from the Company as of the Effective Time, the consideration payable to such stockholder, or his or its Affiliates, pursuant to this Section 2.01 shall, to the extent permitted by applicable law, be reduced by an amount equal to the outstanding principal plus accrued interest of such stockholder's loans as of the Effective Time
Stockholder Loans. Neither the Company nor any of its Subsidiaries has loaned any money to any of their respective Company Personnel or Stockholders, and none of such persons is indebted to the Company or any of its Subsidiaries for any amount.
Stockholder Loans. The loans to the Company from the Sole Stockholder, as set forth in Section 8.03(f) of the Stockholder Disclosure Schedule, shall be paid in full;
Stockholder Loans. In the event the Board determines that the working capital requirements of the Company should not be raised by obtaining Third Party Loan pursuant to Section 4.4(a), then the working capital requirements of the Company may be met by obtaining financing from the Stockholders (the "Stockholder Loan"). In the event the Board determines that all or part of the working capital requirements of the Company shall be met by obtaining Stockholder Loan, then the Stockholders shall provide such Stockholder Loan to the Company, provided, however, that (i) each Stockholder shall provide such Stockholder Loan in an amount equal to the total amount of such Stockholder Loan, multiplied by the Stockholding Percentage of each Stockholder as of such date; and (ii) such Stockholder Loan shall otherwise be made in accordance with the resolution of the Board. Unless otherwise determined by the Board, the interest rate of such Stockholder Loan shall not exceed the interest rate available to the Company through Third Party Loans with similar terms, conditions and principal amounts as the Stockholder Loan in question, and shall be payable only at such times as the principal amount of such Stockholder Loan shall become payable in accordance with Section 5.1 hereof.
Stockholder Loans. In the event that any Stockholder has outstanding loans from the Company as of the Effective Time, the consideration payable to such stockholder pursuant to this SECTION 1.6 shall be reduced by an amount equal to the outstanding principal plus accrued interest of such stockholder's loans as of the Effective Time.
Stockholder Loans. The Company has not loaned any money to any Company Personnel or the Stockholders, and none of such Persons is indebted to the Company for any amount (other than for advances to Company Personnel for travel and business expenses in the ordinary course of business).
