SFS Loan definition

SFS Loan means collectively the loans evidenced by those two certain Promissory Notes both issued March 15, 2000 and effective as of March 7, 2000 by the Company to SFS in the respective principal amounts of $3,553,169.20 and $4,000,000.
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Examples of SFS Loan in a sentence

  • SFS holds, and at the Closing Date will hold, the SFS Loan free and clear of all Liens.

  • The Company agrees that it will not impair (within the meaning of Section 1124 of the Bankruptcy Code) the treatment of SFS's claims arising out of the SFS Loan pursuant to the Reorganization Plan without the prior written consent of SFS.

  • In the case of SFS, the treatment of SFS's claims arising out of the SFS Loan shall not be impaired (within the meaning of Section 1124 of the Bankruptcy Code) under the Reorganization Plan.

  • In the event that the SFS Loan is in default or goes into default before the Closing, then SFS agrees not to pursue any default remedies under the SFS Loan until the earlier of (1) ten days after Closing or (2) the termination of this Agreement.

  • At any time, the Purchaser or the Company may provide to SFS written notice of its intent to offset (the "Offset Notice") against amounts under the SFS Loan by setting forth the amounts (the "Offset Amount") of Excess Expenses or Purchaser Claims, as the case may be.