Postponed Debt definition

Postponed Debt means all sums due and to become due to Scottish Ministers by the Owner whether as principal debtor, co-obligant, guarantor, surety or otherwise (including all present, future or contingent obligations owed to Scottish Ministers, whether such obligations exist now or arise in the future) together with interest and charges, interest on them and all commission, charges, fees, costs and expenses arising or incurred in connection with those sums;

Postponed Debt means the total Indebtedness that is fully postponed and subordinated, on terms satisfactory to the Bank, to the obligations owing to the Bank.

Postponed Debt means indebtedness that is fully postponed and subordinated, both as to principal and interest, on terms satisfactory to the Bank, to the obligations owing to the Bank hereunder;

Examples of Postponed Debt in a sentence

• The Recipient and the Postponer covenant and agree not to amend the terms of any Postponed Debt (including without limitation, the maturity date, payment schedule, applicable interest rates and other covenants) without the prior written consent of the Minister.

• The Recipient may not make and the Postponer may not accept payments against the indebtedness owing pursuant to the Postponed Debt.

• For greater certainty, the Postponed Debt does not include royalty payments paid to the Postponer in the amount of ten cents a pound of bio-based succinic acid produced at the Recipient’s plant to be build in Sarnia in connection with the Project (“Plant”) in consideration of the grant to the Recipient of a license to use certain technologies required to operate the Plant.

• The Postponer agrees that it shall not take any steps whatsoever to demand or enforce payment of the Postponed Debt or to enforce any security interest, liens, pledges or charges granted as security for the Postponed Debt (including without limitation, rights of set-off, commencement of bankruptcy proceedings, initiating an action, appointing or making application to a court for an order appointing an * Confidential treatment requested BlueWater Biochemicals Inc.

More Definitions of Postponed Debt

Postponed Debt means any debt owed by you that has been formally postponed to CIBC.

Postponed Debt means a debt the payment of which is postponed by or under any provision of the Act or of any other enactment;]

Postponed Debt means any Debt for borrowed money of any of the Borrower and its Subsidiaries that is incurred at such time as no failure by the Borrower to perform or observe any of its covenants in this Agreement is continuing or would be created by the incurrence thereof (to be evidenced by pro forma financial statements delivered to CIBC) and which has the following attributes: (i) no principal thereof is repayable so long as any amount is owed by the Borrower to CIBC (or until such earlier date as CIBC may agree upon in writing), (ii) no covenant with respect to such Debt is more onerous than or in addition to the covenants specified herein, and (iii) all rights of the holder of such Debt are postponed and subordinated to all rights of CIBC under or in respect of the Credits pursuant to a subordination agreement containing payment and non-payment default standstills and other provisions satisfactory in form and substance to CIBC.

Postponed Debt means any debt owed by you that has been formally postponed to the Bank.

Postponed Debt means indebtedness that is fully postponed and subordinated, both as to principal and interest, on terms satisfactory to the Noteholder, to the Obligations;

Postponed Debt means Debt (i) where priority of both repayment and security is formally postponed by the holder of such Debt in our favour by a written postponement satisfactory to us;

Postponed Debt means Debt (i) where priority of both repayment and security is formally postponed by the holder of such Debt in our favour by a written postponement satisfactory to us; (ii) incurred without breaching any obligation to us and at a time when you are not in default of any obligation to us; (iii) no principal of which is repayable so long as any amount is owed by you to us (or until such earlier date as we may agree in writing); (iv) which is not secured by any covenant that is more onerous than or in excess of the covenants in our favour in this Agreement.