Subordination of Shareholders’ Loans Sample Clauses

Subordination of Shareholders’ Loans. The Borrower shall ensure that its Financial Indebtedness owed to its shareholders currently or at any time in the future is subordinated to the Loans hereunder, provided, however, that notwithstanding the foregoing, prior to the occurrence of an Event of Default, the Borrower may repay such Financial Indebtedness to its shareholders.
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Subordination of Shareholders’ Loans. The Shareholders will subordinate and postpone all Shareholders’ loans (including without limitation existing loans, if any) to all financings or borrowings by the Company from the Bank to the extent required by the Board.
Sample 1
Subordination of Shareholders’ Loans. All shareholders for Borrower shall have executed and delivered to the Bank a subordination agreement, satisfactory in form and substance to the Bank and its counsel, subordinating its shareholder loans, if any, to the Loan. Construction/Permanent Loan Agreement
Sample 1
Subordination of Shareholders’ Loans. The Shareholders shall subordinate and postpone all Shareholders' Loans (including without limitation existing loans, if any) to all financings or borrowings by the Company to the extent required by the Board.
Sample 1
Subordination of Shareholders’ Loans. The Issuer shall ensure that any existing and future loan provided by any direct or indirect shareholder of the Issuer, including Golar LNG Limited, to any Group Company shall be unsecured and fully subordinated to the Bonds and otherwise on arm’s length terms. The Issuer shall also ensure that future shareholder loans, except for loans provided as seller’s credit in connection with the acquisition of a new asset and revolving facilities of up to USD 50,000,000, will have no repayment of principal required prior to the Maturity Date.
Sample 1
Subordination of Shareholders’ Loans. The Issuer shall ensure that any existing and future loan provided by any direct or indirect shareholder of the Issuer (a "Shareholder Loan"), including Golar LNG Limited, to any Group Company shall be unsecured and fully subordinated to the Bonds and otherwise on arm’s length terms. The Issuer shall also ensure that future Shareholder Loans, except for (1) loans provided as seller’s credit in connection with the acquisition of a new asset and (2) revolving facilities of up to an aggregate maximum amount of USD 50,000,000, will have no repayment of principal required prior to the Maturity Date.
Sample 1
Subordination of Shareholders’ Loans. All shareholders shall have executed and delivered to the Bank a subordination agreement, satisfactory in form and substance to the Bank and its counsel, subordinating their shareholder loans in the amount of approximately $4.9 million outstanding to the Loan.
Sample 1
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Related to Subordination of Shareholders’ Loans

  • Termination of Shareholders Agreement The Sellers and the Company acknowledge and agree that, as of the Closing, that certain Shareholders Agreement, dated as of February 13, 2007, by and among certain of the Sellers and the Company, as amended, shall terminate in accordance with its terms, with no liability following such termination for the Company or any of its Subsidiaries or any of the Sellers or the Sellers’ Related Parties.

  • Acquisition of Shares The Borrower will not acquire any equity, share capital, assets or obligations of any corporation or other entity or permit its Shares to be held by any party other than the Shareholder.

  • Payment of Shares At or prior to the time of delivery of any of our shares you will pay or cause to be paid to the Custodian, for our account, an amount in cash equal to the net asset value of such shares. In the event that you pay for shares sold by you prior to your receipt of payment from purchasers, you are authorized to reimburse yourself for the net asset value of such shares from the offering price of such shares when received by you.

  • Voting and Redemption of Shares Subscriber agrees to vote the Shares in favor of an initial business combination that the Company negotiates and submits for approval to the Company’s stockholders and shall not seek redemption with respect to such Shares. Additionally, the Subscriber agrees not to redeem any Shares in connection with a redemption or tender offer presented to the Company’s stockholders in connection with an initial business combination negotiated by the Company. [Signature Page Follows] If the foregoing accurately sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us. Very truly yours, JUNIPER INDUSTRIAL HOLDINGS, INC. By: /s/ Xxxxx Xxxxxx Name: Xxxxx Xxxxxx Title: Chief Executive Officer Accepted and agreed this 29th day of August, 2019 JUNIPER INDUSTRIAL SPONSOR, LLC By: /s/ Xxxxx Xxxxxx Name: Xxxxx Xxxxxx Title: Member

  • Subsequent Acquisition of Shares Any Equity Securities of PubCo acquired subsequent to the Effective Date by a Holder shall be subject to the terms and conditions of this Investor Rights Agreement and such shares shall be considered to be “Registrable Securities” as such term is used in this Investor Rights Agreement.

  • LIMITATION OF SHAREHOLDER LIABILITY 9.01 Notice is hereby given that this Agreement is being executed by the Fund by a duly authorized officer thereof acting as such and not individually. The obligations of this Agreement are not binding upon any of the trustees, officers, shareholders or the investment advisor of the Fund individually but are binding only upon the assets and property belonging to the Fund, on its own behalf or on behalf of a Portfolio, for the benefit of which the trustees or directors have caused this Agreement to be executed.

  • Replacement of Shares If any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Shares.

  • Indemnification of Shareholders If any Shareholder or former Shareholder of any Series is held personally liable solely by reason of his or her being or having been a Shareholder and not because of his or her acts or omissions or for some other reason, the Shareholder or former Shareholder (or his or her heirs, executors, administrators or other legal representatives or, in the case of any entity, its general successor) shall be entitled out of the assets belonging to the applicable Series to be held harmless from and indemnified against all loss and expense arising from such liability. The Trust, on behalf of the affected Series, shall, upon request by such Shareholder or former Shareholder, assume the defense of any claim made against him or her for any act or obligation of the Series and satisfy any judgment thereon from the assets belonging to the Series.

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