Secured Debentures definition
Examples of Secured Debentures in a sentence
This Initial Debenture is one of the 10% Convertible Senior Secured Debentures (referred to herein as the “Initial Debenture”) of the Corporation issued or issuable in one or more series under the provisions of the Indenture.
The effectiveness of this Amendment is conditioned upon Borrower obtaining from all of the holders of its 8% Senior Secured Debentures due February 14, 2014 extensions of the due date of such debentures until a date not earlier than May 16, 2014.
All Secured Debentures sold hereunder shall be substantially in the form of the Secured Debentures executed on the date hereof and each shall be individually secured by the accounts receivable relating to the project such Secured Debenture funds.
Subject to the satisfaction (or waiver) of the terms and conditions of this Agreement, each Buyer agrees, severally and not jointly, to purchase at Closing (as defined herein below) and the Company agrees to sell and issue to each Buyer, severally and not jointly, at Closing, Secured Debentures in amounts corresponding with the Subscription Amount set forth opposite each Buyer’s name on Schedule I hereto.
Each Buyer understands that its investment in the Secured Debentures involves a high degree of risk.