Examples of Shareholder Loan in a sentence
The collateral security agreement evidencing the collateralization of the Shareholder Loan with the Company Stock and the Earn-Out shall be on such terms as are reasonably acceptable to the Company, which terms shall include, but shall not be limited to, the retention of all of the Company Stock by the Company until full repayment of the Shareholder Loan (including accrued interest).
The Shareholder Loan shall mature as of the date that the Earn-Out is payable.
Unless otherwise defined herein, terms defined in the Shareholder Loan Agreement and used herein shall have the meanings given to them in the Shareholder Loan Agreement.
The Shareholders shall have the right to prepay the Shareholder Loan (plus accrued interest) at any time without penalty and shall have the right to direct the Company to offset the balance due under the Shareholder Loan (plus accrued interest) against the Earn-Out as earned each quarter.
Said loan by the Company to the Shareholders (the "Shareholder Loan") shall bear interest at a rate of seven percent (7%) per annum, and shall be secured by all of the Company Stock paid as part of the Purchase Price at Closing.