CBI Loan definition

CBI Loan means the outstanding amount of principal plus incurred interest, as of 11:59pm on July 30, 2012 (not including amounts that were converted into Common Stock prior to or at such time) under the Unsecured Convertible Promissory Note, between CBI and the Company, dated July 30, 2008.
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Examples of CBI Loan in a sentence

  • The Company shall have obtain an executed CBI Loan Amendment from CBI with respect to each of the CBI Loan Agreements.

  • Prior to the Closing, the Company shall obtain an executed CBI Loan Amendment from CBI with respect to each of the CBI Loan Agreements.

  • CBI agrees to convert the CBI Loan, in full, into Common Stock, in accordance with the provisions of the Unsecured Convertible Promissory Note, dated July 30, 2008, between CBI and the Company provided that the Provident Fund convert, in full, the Provident Fund Loan as per Section 6.1.1 below.

  • Between the date hereof and the Closing Date, the Company may borrow additional money from CBI; provided, however, that such loans shall covert into Company Ordinary Shares in accordance with the terms of the CBI Loan Amendment and shall include no right or obligation that survives such conversion (other than the right to receive the Company Ordinary Shares pursuant to such conversion).

  • For the avoidance of doubt, it is made clear, that subject to the satisfaction of the conditions precedent in Section 6 below, CBI's irrevocable undertaking to convert the CBI Loan, in full, into Common Stock is regardless of whether or not Tikcro will convert the Tikcro Loan.