Examples of New Debt in a sentence
Total accumulative and outstanding amount of New Debt (compared to the accumulative amount of New Debt at any given point of time according to the Business Plan) will not increase by more than fifteen million (15,000,000) Dollars.
Notwithstanding the above, the Borrower will be able to acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the stock, partnership, membership, or other ownership interest or other equity securities or property of another Person if such acquisition has been financed by New Debt in accordance with and without violating of the provisions of section 10.12 below, provided however that it is not done by way of a Merger.
Assuming that such New Debt is to be repaid in one installment after four years, then during those four years (and until the actual repayment of this New Debt) the Borrower is not allowed to take any other New Debt.
Accordingly, the Borrower may take on New Debt in the amount of fifteen million (15,000,000) Dollars resulting in a total debt of one hundred and twenty million (120,000,000) Dollars.