Savia Debt definition
Examples of Savia Debt in a sentence
The Bionova Note became due and payable to Savia by its terms as of December 31, 2003, at which time the aggregate principal amount and accrued and unpaid interest under the Bionova Note totaled $79,799,547.57 (together with accumulated interest from January 1, 2004 to the date on which the Debt Forgiveness (defined below) is consummated, the "Savia Debt").
From and after the date that Lender has received evidence satisfactory to the Lender that the Savia Debt Extension has been fully agreed to and documented, the Borrower shall not make any loans or advances to Affiliates during its 2002 fiscal year which at any time have an aggregate outstanding net receivable principal balance in excess of $5,000,000.00.
In addition, notwithstanding the above, until such time as the Lender has received evidence satisfactory to the Lender that the Savia Debt Extension, as hereafter defined, has been fully agreed to and documented, the Borrower shall not request and the Lender shall have no obligation to make any Seasonal Term Advance, if after giving effect to the same, the aggregate outstanding principal balance of all of the Seasonal Term Advances would exceed $1,250,000.00.
Until such time as the Lender has received evidence satisfactory to the Lender that the Savia Debt Extension has been fully agreed to and documented, the Borrower shall not make any loans or advances to Affiliates during any fiscal year which at any time have an aggregate outstanding net receivable principal balance in excess of $4,632,000.00.