First Debenture definition

First Debenture as defined in the recitals to this Agreement.

First Debenture shall have the meaning set forth in the recitals.

First Debenture means the debenture dated 16 December 2021 creating a fixed and floating charge over the Company’s assets entered into by the Company in favour of Apeiron Investment Group Ltd, as the same may be amended or replaced from time to time.

Examples of First Debenture in a sentence

• If the Note has not been paid in full by the Holder to the Company (whether or not it is otherwise then due or payable by its terms), (i) any payments from the Company to the Holder pursuant to Sections 4.19 and 4.31 of the Purchase Agreement will be offset by the principal amount of the Note and (ii) "Debentures" shall specifically refer to First Debenture A, First Debenture B and the Second Debenture in Sections 4.19 and 4.31 in Purchase Agreement.

• The Purchaser shall have received from Appia payment in full for all amounts of accrued but theretofore unpaid interest then outstanding on the First Debenture and the Second Debenture and all applicable prepayment premiums in respect of the First Debenture and the Second Debenture.

• The New Debenture shall be issued in exchange for the First Debenture and the Second Debenture.

• Subject to Section 4.28, the Escrow Agent will hold the First Debenture B in escrow until either (i) the obligations under the Note by its terms becomes due and payable and subsequently paid in full by the Purchaser, whereupon the Escrow Agent will deliver the First Debenture B to the Purchaser or (ii) the obligations under the Note expire under its terms, whereupon the First Debenture B will be delivered to the Company for cancellation.

• Contemporaneously with the issuance of the New Debenture, Appia shall pay in full all amounts of accrued but theretofore unpaid interest then outstanding on the First Debenture and the Second Debenture and all applicable prepayment premiums in respect of the First Debenture and the Second Debenture.

• Subject to the terms and conditions hereof, and in exchange for the First Debenture and the Second Debenture, Appia shall sell, issue and deliver to the Purchaser, and the Purchaser shall receive from Appia, a Subordinated Secured Debenture (the “New Debenture”) in the aggregate principal amount of Eight Million and 00/100 Dollars ($8,000,000.00) (the “Commitment”).

• In addition, the Company issued to United a convertible debenture (the "First Debenture") in the principal amount of $78,730 (US$50,000), which was converted into 100,000 common shares of the Company at a price of US$0.50 per share.

• On or prior to the expiration of ten (10) Business Days’ following the date of this Amendment, the Company agrees to sell, and Original Purchaser agrees to purchase, a principal amount of $400,000 of Debentures, in the form of Exhibit C to the First Amendment and giving effect to the First Debenture Amendment and Section 3 hereof (the “Subsequent DEC Purchase”).

• First Debenture over the fixed and floating assets of Union Air Transport Ltd.

• During the five year period commencing on the Post-Closing Date (the "Restriction Period") or until the Debentures are paid in full which ever comes first, (A) except for the First Debenture B, the Company and its Affiliates shall not issue or offer (i) any convertible security and (ii) any security issued pursuant to Rule 504 of Regulation D promulgated under the Securities Act and (B) the Company and its Affiliates shall not offer any equity lines of credit.

More Definitions of First Debenture

First Debenture means the debenture creating a fixed and floating charge over the Company’s assets entered into by the Company in favour of Apeiron on 16 December 2021;

First Debenture means the Permitted Debenture issued for an amount of £1,068,801 under the Debenture Deed dated 18 June 2015. Holder means the person entered in the Register as the holder of each Debenture from time to time.

First Debenture has the meaning specified in Paragraph 2.1(1)(b)(i).

First Debenture has the meaning attributed to it in the Private Placement Agreement;

First Debenture means the Convertible Debenture issued to the Holder by the Company on the First Debenture Date, pursuant to the Private Placement Agreement;

First Debenture means the debenture in the agreed terms to be issued by the Principal Borrower in favour of the Security Trustee to secure the obligations of the Principal Borrower to the Security Beneficiaries;