GTI Loan definition
GTI Loan means the aggregate amount of indebtedness owed by Promptus to GTI, which amount has been agreed to by the parties as being $7,686,593.87 as of February 7, 1997 and shall be adjusted to reflect advances and payments together with interest accrued on such indebtedness at 9.5% per annum.
Examples of GTI Loan in a sentence
Promptus shall use a portion of the cash portion of the Purchase Price paid under the NAC Purchase Agreement to repay the GTI Loan by wire transfer on the Closing Date or, if the cash portion of the Purchase Price is received by Promptus too late in the day on the Closing Date to effect a wire transfer, then on the Business Day immediately following the Closing Date.