Forgiveness of Debt. Voluntarily cancel or otherwise forgive or release any Debt owed to it by any Person, except for adequate consideration and except for settlement of lease obligations of tenants in the Borrower’s reasonable business judgment.
Forgiveness of Debt. None of the Company, the Class B Member or any Subsidiary shall cancel or otherwise forgive or release any material claim or debt owed to it by any Person, except for adequate consideration or in the ordinary course of its business.
Forgiveness of Debt. 77 8.1.10 Affiliate Transactions..............................................................77 8.1.11 Amendments; Terminations of Related Documents.......................................77 8.1.12 ERISA. .............................................................................77 8.1.13 Bankruptcy Filings..................................................................77 8.1.14
Forgiveness of Debt. Corporation has not at any time benefited from a forgiveness of debt or entered into any transaction or arrangement (including conversion of debt into shares of their share capital) which could have resulted in the application of Section 80 and following of the ITA.
Forgiveness of Debt. The Company has not at any time benefited from a forgiveness of debt or entered into any transaction or arrangement (including conversion of debt into shares of its share capital) which could have resulted in the application of Section 80 and following of the ITA.
Forgiveness of Debt. Cancel or otherwise forgive or release any Debt owed to it by any Person if such cancellation, forgiveness or release of such Debt would cause the Borrower to fail to comply with the Financial Covenants or have Loans outstanding in excess of the Borrowing Base unless otherwise approved by the Agent.
Forgiveness of Debt. If a Bankruptcy Event or a Capital Event occurs, then this Subordinated Note or successor Eligible Investments then held by the Company shall be canceled and the Bank's obligations thereunder (including, without limitation, its obligations to pay principal and interest, including any interest deferred in accordance with Section 3(b)) shall be forgiven.
Forgiveness of Debt. Cancel or otherwise forgive or release any Debt owed to it by any Person, except upon receipt of adequate consideration or as otherwise approved by the Agent or, as may be required by the terms of the Securitization Documents.
Forgiveness of Debt. As of the Closing, ITEC shall forgive all current debt owed to it by QPI, and QPI shall forgive all current debt owed to it by ITEC.
Forgiveness of Debt. The Additional debt owed to the Exchange LLC by the Company is hereby forgiven and extinguished.
