Debt Payment. The Agency shall process or cause to be processed payment for all debt in the manner provided in the bylaws, consistent with applicable laws and statutes.
Debt Payment. (i) Discharge of the Debt. DoveBid shall discharge the Debt to --------------------- Shareholder upon or after the Closing, at the election of DoveBid, provided that the Debt shall be discharged and shall become due and payable no later than the first to occur of (a) the closing of the initial underwritten public offering of DoveBid's common stock (the "IPO") registered pursuant to a registration statement filed under the United States Securities Act of 1933, as amended (the "Securities Act") or (b) the second anniversary of the Closing Date (the "Debt Maturity Date"). Until repaid to Shareholder, the amount of the Debt shall represent collateral for (A) the indemnification obligations of Shareholder pursuant to Article VIII hereof and (B) any amounts owed by Shareholder to DoveBid under Section 1.4(ii) below. If DoveBid elects to discharge the Debt prior to the Debt Maturity Date, DoveBid shall have the option of withholding $825,000 of the Debt (the "Deferred Debt Payment") as collateral for such obligations. Upon the later to occur of (x) the expiration of six months following the Closing Date, and (y) the final resolution of all issues arising out of the audit of the Company by the Nederlandse Belastingdienst (the Netherlands tax authority), DoveBid shall pay the balance of the Deferred Debt Payment, if any, together with interest (at the lower of the rates described Section 1.1 (iii)) accrued thereon, to Shareholder provided that, if on such date, there is outstanding an unresolved Notice of Claim or Contested Claim (as defined in Article VIII hereof), an amount equal to the amount of Damages (as defined in Article VIII hereof), claimed in such Notice of Claim or Contested Claim shall be withheld from such payment to Shareholder, pending resolution of the Notice of Claim or Contested Claim pursuant to the Article VIII hereof.
Debt Payment. 7.1 The Debt payment shall be made by the DEBTOR in the same currency as the Credit Facility provided by DBS and shall be effectively received by DBS in its head office at the latest at 14.00 (fourteen) local time on each date of payment of Credit Facility principal installment in accordance with the schedule of the installment hereinbelow (“Installment Schedule”) provided that the schedule and amount of the installment payment shall be as follows: - the 1st (first) anniversary of the date of the first Credit Facility withdrawal: 10% (ten percent) of total principal of Credit Facility being withdrawn; - the 2nd (second) anniversary of date of the first Credit Facility withdrawal: 10% (ten percent) of total principal of Credit Facility being withdrawn; - the 3rd (third) anniversary of date of the first Credit Facility withdrawal: 15% (fifteen percent) of total principal of Credit Facility being withdrawn; - the 4th (fourth) anniversary of the first Credit Facility withdrawal: 15% (fifteen percent) of total principal of Credit Facility being withdrawn; - the 4th (fourth) anniversary of the first Credit Facility withdrawal:: 50% (fifty percent) of total principal of Credit Facility being withdrawn;
Debt Payment. 7. The Borrower agrees to pay the indebtedness under this Agreement in accordance with following procedures:
Debt Payment. As of the Closing (taking into account the payments to be made under Sections 3.6(e) and (f)), Beech shall have cash and cash equivalents equal to or in excess of all Debt. “Debt” means, without duplication, the aggregate amount of (i) all indebtedness of Beech or any of the subsidiaries (including the principal amount thereof or, if applicable, the accreted amount thereof and the amount of accrued and unpaid interest thereon), whether or not represented by bonds, debentures, notes or other securities or similar instruments for borrowed money, (ii) all obligations of Beech or any of the subsidiaries to pay rent or other payment amounts under a lease of real or personal property that is classified as a capital lease, (iii) all conditional sale obligations of and all obligations under any title retention agreements of Beech or any of the subsidiaries, (iv) any payment obligation of Beech or any of the subsidiaries under any interest rate swap agreement, forward rate agreement, interest rate cap or collar agreement or other financial agreement or arrangement entered into for the purpose of limiting or managing interest rate risks, (v) all indebtedness for borrowed money secured by any lien existing on property owned by Beech or any of the subsidiaries, whether or not indebtedness secured thereby shall have been assumed, (vi) all guaranties, endorsements, assumptions and other contingent obligations of Beech or any of the subsidiaries in respect of, or to purchase or to otherwise acquire, indebtedness for borrowed money of others the repayment of which is guaranteed by Beech or any of the subsidiaries, (vii) all other short-term and long-term liabilities of Beech or any of the subsidiaries for borrowed money, (viii) all change of control payments, bonuses or severance payments that are accelerated or owed as a result of the Merger or the consummation of the transactions contemplated hereby (excluding any amounts attributable to termination by Buyer or the Surviving Corporation of any person following the Merger, (ix) all payments owed for bonuses and sales commissions accrued by Beech or any of its subsidiaries as of the Closing Date but unpaid and (x) all premiums, penalties and change of control payments required to be paid or offered in respect of any of the foregoing as a result of the consummation of the transactions contemplated by this Agreement, other than any such premiums, penalties and payments owed to Xxxx Xxxx under the Xxxx Xxxx Employment Agreem...
Debt Payment. In full satisfaction of the Company’s obligations under the Notes, the Buyer shall issue to each Company Debtholder at the Closing a number of shares of Buyer Common Stock equal to the quotient of (x) the total amount of Company Debt held by such Company Debtholder as set forth in Schedule 1.5(b) divided by (y) the Trading Price, subject to Section 1.5(e); provided that, prior to such time, the Company shall have caused each Note to be amended to allow for the repayment and satisfaction of such Notes, in full, pursuant to this Section 1.5(b).
Debt Payment. “Debt Payment” has the meaning set forth in Section 1.6(c).
Debt Payment. FDI shall have made payment of approximately $1,900,000.00 to payoff the Company's outstanding indebtedness to Harbinger. In addition, FDI shall have made payment of approximately $101,450.00 to payoff the Company's outstanding indebtedness to Ross Hickey.
Debt Payment. Section 7 of the agreement requires the Town to pay a prorated share (proportional to the annexation area’s value of the total Fire district value) of all of New Hope’s outstanding debt as of 9/14/04. The debt based on information provided by the New Hope Fire Department and CCB amortization notes, is reflected in attachment “B” of the agreement. As shown in the table below, the Town proposes to make a lump sum payment of $4,183.96 on July 1, 2010 which represents the total debt remaining after the expiration of the 5-year agreement. Good Faith Responder Contract, (1/2 area annexed taxes) - TO BE ADJUSTED EVERY YEAR $ 32,054 $ 32,054 $ 32,054 $ 32,054 $ 32,054 Debt Payment $ - $ - $ - $ - 4,184 Total Due to New Hope $ 32,054 $ 32,054 $ 32,054 $ 32,054 $ 36,238 In a separate but related item, we must also reimburse taxpayers of the annexation area for the 5 months of taxes that they paid for New Hope, but no longer owe b/c of annexation. Prorated Tax Reimbursement by the Town of Carrboro Description For Period: 1/31/06 1/31/07 thru thru 1/30/07 1/30/08 1/31/08 thru 1/30/09 1/31/09 thru 1/30/10 1/31/10 thru 1/30/11 Due on July 1, 2006 2007 2008 2009 2010 FY06-07 FY07-08 FY08-09 FY09-10 FY10-11 Fire District Tax Reimbursement to Tax Payers NOTE, LAST YEAR OF PAYMENT FOR DEBT COMBINES REMAINING LIFE OF DEBT OWED BY NEW HOPE.. That is what we will owe,. NOTE NEW HOPE'S DEBT IS PAID QUARTERLY - SO WE WILL NOT OWE A FULL YEAR OF DEBT IN FY10-11 - JUST 2 QTRS PLUS OUTSTANDING DEBT OWED BY NEW HOPE IN FY11-12 % of valuation attributable to Carrboro's share of debt, by law is at time of annexation - 1/31/06 or whatever date is agreed upon with New Hope. Make it clear to them; so amount to be paid by Town to New Hope will be fixed For Good Faith Contract, tax rate is fixed is
Debt Payment. As of the Closing (taking into account the payments to be made under Sections 3.6(e) and (f)), Beech shall have cash and cash equivalents equal to or in excess of all Debt. “
