Shareholder Indebtedness definition

Shareholder Indebtedness means the aggregate amount of the Shareholder Notes together with accrued and unpaid interest thereon through the Final Payment Date; provided that, from the Closing Date through the Final Payment Date, interest on the Shareholder Notes shall accrue at the interest rate in effect on the Closing Date under the Company's term loan with United States National Bank of Oregon and each Shareholder Note shall be deemed to be amended accordingly.

Shareholder Indebtedness means all Indebtedness outstanding between any member of the Group and the Seller;

Shareholder Indebtedness means US$6,030,457.60 as at March 31, 2000 owed by the Subsidiary to IFS for borrowed money as evidenced by a Promissory Note dated March 31, 2000 plus US$150,000 to be advanced on April 12, 2000 further to Section 5(d) below.

Examples of Shareholder Indebtedness in a sentence

• Each of the Semlers, the Xxxxxx Trusts, Parent and Purchaser expressly acknowledges and agrees that the full amount of the Shareholder Indebtedness shall be satisfied in full through offset of the amounts payable under the promissory notes issuable to each of the Xxxxxx Trusts pursuant to this Section 2.3(a) for each promissory note in an amount equal to fifty percent (50%) of the full amount of the Shareholder Indebtedness.

• Each of the Semlers and the Xxxxxx Trusts, Parent and Purchaser acknowledges and agrees that the Shareholder Indebtedness shall be satisfied in full through offset of the amounts payable under the promissory notes issuable to each of the Xxxxxx Trusts pursuant to Section 2.3(a) for each promissory note in an amount equal to fifty percent (50%) of the full amount of the Shareholder Indebtedness, notwithstanding that the Shareholder Indebtedness is not an obligation of the Xxxxxx Trusts.

• Each of the Semlers hereby acknowledges and agrees that by executing this Agreement, the Company has given the Semlers proper demand for payment on the Closing Date of the full amount of the Shareholder Indebtedness.

• Immediately after the Effective Time, Parent shall cause the Company to repay, at any time within one year of the Closing Date, the Shareholder Indebtedness (as such term is defined in Section 2.4) to the Company's Shareholders.

• The Shareholder Indebtedness shall be converted to equity in Borrower, Holdings or the Public Company as a condition precedent to Lender's release of the X.

More Definitions of Shareholder Indebtedness

Shareholder Indebtedness has the meaning given to that term in the Senior Facilities Agreement.

Shareholder Indebtedness shall have the meaning set forth in Section 7.13 hereto.

Shareholder Indebtedness means any form of indebtedness or borrowing of any kind, including but not limited to loans, monies borrowed, the making of guarantees or similar assurances against the financial loss of any person, or any other transaction having the commercial effect of a borrowing, (but excluding monies owed in respect of reasonable costs and expenses properly incurred by an Equity Shareholder in connection with the discharge of his managerial and fiduciary duties to any TFI Group Company) where such indebtedness is owed by a TFI Group Company to an Equity Shareholder or to a member of a Shareholder Group, or to any Related Person of an Equity Shareholder or a Shareholder Group;

Shareholder Indebtedness means that indebtedness of the Company to certain shareholders as set forth on Schedule 3.22 to the Agreement, plus all additional interest that may accrue on such indebtedness up to and including the day immediately prior to the Closing Date.

Shareholder Indebtedness means all Indebtedness to Xxxx X. Xxxxxxx evidenced by (a) promissory notes on which the Company currently owes an aggregate amount not in excess of $410,307, and (b) a $2,000,000 promissory note to be executed simultaneously with this Agreement on terms satisfactory to Purchaser, including, without limitation, payment terms that (a) prohibit any payment of principal prior to one day following the date the Note (together with all interest due and payable on the Note) has been indefeasibly paid in full to Purchaser in cash or cash equivalents, and (b) prohibit interest payments in excess of 12% per calendar quarter. Any refinancing of the Shareholder Indebtedness shall be on terms and conditions consented to by Purchaser, which consent shall not be unreasonably withheld.

Shareholder Indebtedness shall have the meaning set forth in Section 6.14.

Shareholder Indebtedness means all borrowing or indebtedness in the nature of borrowing (including any indebtedness for monies borrowed or raised under any bank or third party guarantee, acceptance credit, bond, note, bill of exchange or commercial paper, letter of credit, finance lease, hire purchase agreement, forward sale or purchase agreement or conditional sale agreement or other transaction having the commercial effect of borrowing and all finance, loan and other obligations of a kind required to be included in the balance sheet of a company or other entity pursuant to UK Relevant Accounting Standards) outstanding between the Company on the one hand and any of the Sellers on the other hand;