Existing Debentures Clause Samples

Existing Debentures. The Corporation and the Existing Debenture Holders shall have extended the maturity date of the Existing Debentures to April 30, 2007.

Existing Debentures. The Buyer(s) is the beneficial owner of the Existing Debentures free and clear of any liens or encumbrances. The Buyer(s) represents and warrants that upon payment of the Payoff Amount to the Buyer(s) at the First Closing, the Company shall have satisfied all of its obligations under and with respect to the Existing Debentures (including without limitation obligations under related registration rights and security agreements, all of which agreements shall be of no further force or effect from and after the First Closing Date).

Existing Debentures. The Subscriber, if also an Existing Securityholder, is the legal and beneficial owner of the Existing Debentures free of all liens and encumbrances both on the date hereof and at the Closing. The Subscriber agrees to execute all documents and instruments required to terminate all liens and encumbrances on assets of the Company in its favor.