Satisfaction of Obligations to Directors. At or prior to the Closing, all loans, debts, obligations or liabilities incurred by iFone or any of its subsidiaries to any of its directors, except for normal and customary compensation and expense allowances payable to such directors in the ordinary course of iFone’s business, shall be paid in full by iFone, provided any such obligations or liabilities paid at the Closing will be paid by virtue of the Transaction Payment, except that the repayment and discharge of the Sega Loans pursuant to Section 2.2 shall not be deducted from or paid by virtue of the Transaction Payment, but shall be in addition to the Transaction Payment.
Satisfaction of Obligations to Directors. Except for normal and customary compensation and expense allowances payable to such directors in the ordinary course of Macrospace’s business, prior to the Closing, all loans, debts, obligations or liabilities incurred by Macrospace or any of its subsidiaries to any of its directors, including, without limitation, the loan owed by Macrospace to Sxxxxx Xxxxxxx as reflected in the Balance Sheet (the “Sxxxxx Loan”), shall be paid by Macrospace to the extent of available cash held by Macrospace prior to and on the Closing Date.
