Cancellation of Debt. The Borrower will not cancel any liability or debt owed to it in respect of any item of Collateral other than for consideration in the ordinary course of business and liabilities or debts involving an outstanding amount less than or equal to $50,000.
Appears in 2 contracts
Samples: Loan and Security Agreement (American Railcar Industries, Inc./De), Loan and Security Agreement (American Railcar Industries, Inc./De)
Cancellation of Debt. The Borrower will not cancel any liability or debt owed to it in respect of any item of Collateral other than it, except for consideration equal to or exceeding the outstanding balance of such liability or debt, and in the ordinary course of business and liabilities or debts involving an outstanding amount less than or equal to $50,000business.
Appears in 1 contract
Samples: Convertible Loan Agreement (X-Factor Communications Holdings, Inc.)
Cancellation of Debt. The Borrower will not cancel any liability or debt owed to it in respect of any item of Collateral other than for consideration in the ordinary course of business and liabilities or debts involving an outstanding amount less than or equal to $50,000business.
Appears in 1 contract
Samples: Loan and Security Agreement (American Railcar Industries, Inc.)
