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 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 BlueWater Biochemicals Inc.
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 Recipient may not make and the Postponer may not accept payments against the indebtedness owing pursuant to the Postponed Debt.
Equity" means the total Shareholders' Equity, minus (a) amounts due from/investments in related parties, and the value of all intangibles, plus (b) all Postponed Debt.