Government Loan definition
Examples of Government Loan in a sentence
Prior to the Government Loan Termination Date, any Company Equity Securities held by Fiat in excess of 35% of the fully diluted Company Equity Securities, by vote and value, shall be placed in a voting trust organized pursuant to a voting trust agreement in the form of Exhibit A, whose sole trustee has been approved by the US Treasury.
On or after the Government Loan Termination Date, subject to Section 9.1, distributions shall be made to the Members, at the times and in the aggregate amounts determined by the Board of Directors, to the Members on a pro rata basis, in proportion to the Total Interest of each such Member.
The Party of the FIRST PART or his/ her legal heirs, executors and administrators shall forthwith pay to the Government on demand the said sum of Rs. / -(Rupees Lakh only) together with interest from the demand at Government rate in force on Government Loan.
On the Government Loan Termination Date, the Fiat Voting Trust shall be dissolved and Fiat shall automatically accede to voting rights associated with such Membership Interests of the Company previously held in the Fiat Voting Trust.
Prior to the Government Loan Termination Date or the written release from the US Treasury of the restrictions in this Section 10.6, any Membership Interests acquired, directly or indirectly, by Fiat after the Effective Date, except for Initial Equity and Membership Interests acquired by Fiat through the occurrence of a Class B Event, shall be placed in a voting trust (the “Fiat Voting Trust”) with a trustee (the “Fiat Voting Trustee”) to be approved by the US Treasury.