Management Loans. The Members acknowledge and agree that if any amount is outstanding pursuant to a Management Loan as of the date of such repurchase of Class B Units and the purchase price paid to the Company by Holdco for the Holdco B Shares is reduced as a result of the existence of such outstanding amounts, then an amount equal to such reduction shall be deemed paid by the Company to such Member as a portion of the purchase price for such Class B Units and the total purchase price for such Class B Units otherwise due to such Member shall be reduced by the amount of such reduction.
Management Loans. On the Closing Date the Administrative Agent shall have received a collateral assignment pursuant to the Security Agreement executed by each Company of each promissory note evidencing a loan from EDO or AIL to its management as permitted pursuant to Section 7.06(e).
Management Loans. 2.6(b) Pro Rata Share of each Company Stockholder and Optionholder
Management Loans. The Parties acknowledge that the Stockholders, all of whom are officers of the Company and holders of Company Common Stock and Company Stock Options, are obligated to the Company for certain amounts under loans from the Company to the Stockholders. Such loans are listed on Section 5.12 of the Disclosure Schedule. At the Closing, the total amount of principal and interest due on such loans shall be set off against the amounts of Closing Date Merger Consideration to which the Stockholders are entitled under this Agreement. Any internal allocations among the Stockholders listed on Section 5.12 of the Disclosure Schedule shall be the obligation of those Stockholders and not of the Company or the Parent.
Management Loans. The Stockholders who are obligors under the Management Loans shall cause such Management Loans to be repaid in accordance with their terms.
Management Loans. The Members acknowledge and agree that if any amount is outstanding pursuant to a Management Loan as of the date of such repurchase of Class B Units and the purchase price paid to the Company by Holdco for the Specified Repurchased Class B Units is reduced as a result of the existence of such outstanding amounts, then an amount equal to such reduction shall be deemed paid by the Company to such Member as a portion of the purchase price for such Class B Units and the total purchase price for such Class B Units otherwise due to such Member shall be reduced by the amount of such reduction. For the avoidance of doubt, any Class B Units repurchased pursuant to this Section 8.05 shall be deemed forfeited in full as of the time of receipt of payment therefor, whether in cash or by note or in accordance with Section 8.05(c), and consequently, the holder thereof shall not be entitled to any cash distributions in respect of such Class B Units for any period thereafter, including during the time that any note issued by the Company or Holdco in respect of the purchase price of such Class B Units remains outstanding; provided, however, that such holders shall be entitled to their respective pro rata shares of any contingent consideration or funds released from escrow, as and when received by Holdco or released under any applicable escrow arrangement, as and to the extent contemplated by Section 8.04(h)(ii) of the Holdco Agreement, in each case consistent with the Section 2.11 Principle.
