Examples of Debenture A in a sentence
Debenture: A bond secured only by the general credit of the issuer.
On May 1, 2013 the Corporation purchased a $1,200,000, 12.0 per cent 5 year debenture (Debenture A) and a $600,000 17.0 per cent 7 year debenture (Debenture B) in 101173077 SASKATCHEWAN LTD.
On April 16, 2001, the Company received a loan and issued a secured convertible Debenture "A" for $1,250,000.
If the Note has not been paid in full by the Holder to the Company (whether or not it is otherwise then due or payable by its terms), (i) any payments from the Company to the Holder pursuant to Sections 4.19 and 4.31 of the Purchase Agreement will be offset by the principal amount of the Note and (ii) "Debentures" shall specifically refer to First Debenture A, First Debenture B and the Second Debenture in Sections 4.19 and 4.31 in Purchase Agreement.
On October 4, 2018, Debenture B was amended as follows:- The portion of the debenture with conversion rights was convertible to common shares of the Company at a price of CAD$0.18 per share.- Total interest owing on Debenture A increased to $19,436 (CAD$25,000).- The portion of the debenture without conversion rights became due on February 7, 2020 and is non-interest bearing.
At the discretion of the holders, CAD$25,000 of Debenture A was convertible into common shares of the Company at a price that was the greater of CAD$0.12 per share, or an amount that represented 20% discount to the issue price of shares sold in connection of an IPO or a transaction pursuant to which the Company might become listed on any stock exchange.
The Company accounted for the value of the warrants upon issuance of the Debenture "A" in accordance with APB Opinion No. 14 "Accounting for Convertible Debt and Debt Issued with Stock Purchase Warrants".
This Debenture A shall be governed by and construed and enforced in accordance with the internal laws of the State of New York without regard to the principles of conflicts of law thereof.
Service of process in any action by the Holder to enforce the terms of this Debenture A may be made by serving a copy of the summons and complaint, in addition to any other relevant documents, by commercial overnight courier to the Company at its address set forth in the Purchase Agreement.
Except as expressly provided herein, no provision of this Debenture A shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, and interest on, this Debenture A at the time, place, and rate, and in the coin or currency, herein prescribed.