Put Option Debt definition
Put Option Debt means Indebtedness, the terms of which are acceptable to Agent in its sole and absolute discretion incurred in accordance with SECTION 6.3, the proceeds of which shall be used solely to purchase the Stock of the Borrower held by Waldensian in accordance with the terms of the Put Option Agreement.
Put Option Debt means (1) the obligation to pay the Put Option Purchase Price as set forth in Section 3 of the Stock Restriction and Rights Agreement to which this exhibit is attached, (2) all fees, expenses and other indebtedness, obligations and liabilities of Synbiotics whether now or here after owing, incurred or created, under or with respect to the Put Option Debt, (3) any restructuring, refinancing or refunding of any Put Option Debt referred to in gations and liabilities incurred in connection therewith, and (4) with respect to all of the foregoing amounts, any interest accruing thereon at the legal rate after the commencement of any Proceeding, and any additional interest that would have accrued thereon but for the commencement of such Proceeding.
Put Option Debt means any Debt owed by ▇▇▇▇ TopCo to the Seller and/or its Affiliates immediately following Remaining Closing and any new Debt advanced by the Seller and/or its Affiliates between Remaining Closing and Put Option Closing, reduced by the amount of any principal repayment made by ▇▇▇▇ TopCo between Remaining Closing and Put Option Closing, together with the right to receive payment of such Debt and all other rights of the Seller and/or its Affiliates in respect of, and/or pursuant to any instrument constituting, such Debt;
Examples of Put Option Debt in a sentence
Rhone Merieux S.A.S. societe par actions simplife ("RM"), as the obligee of the Put Option Debt (the "Creditor") agrees to and shall be bound by all the provisions of this Subordination Form relating to the subordination of the Put Option Debt to the Senior Debt.