Debenture Agreement definition
Examples of Debenture Agreement in a sentence
The Holder reserves the rights to take Payment of Penalties in cash or in Common Stock priced at the Conversion Price (as defined in the Debenture Agreement).
The Company covenants and agrees that, in the event that the Company's agency relationship with the transfer agent should be terminated for any reason prior to the Maturity Date (as defined in the Debenture Agreement), the Company shall immediately appoint a new transfer agent and shall require that the new transfer agent execute and agree to be bound by the terms of the Irrevocable Transfer Agent Instructions (as defined herein).
The Holder reserves the rights to take Payment of Penalties in cash or in Common Stock priced at the Fixed Conversion Price (as defined in the Debenture Agreement).
The Company shall pay twelve percent (12%) annual coupon on the unpaid principal amount of this Debenture (the "Debenture") at such times and in such amounts as outlined in the Debenture Agreement.
The Company must submit to the Holder a duly authorized term sheet of the financing and the Holder may elect, in writing within five (5) days, to exercise its right to finance the Company upon the same terms and conditions, as set forth in the Debenture Agreement.
For value received, the Company hereby promises to pay to the Lender the Principal, and to pay interest thereon from the date of issuance of this Convertible Debenture Agreement and advancement of all of a portion of the Principal, at the rate of ten percent (10%) per annum calculated and compounded annually, on or before the end of the term hereof.
If so requested by the Holder, the Company shall instruct counsel to write a 144 opinion letter provided the necessary paperwork has been submitted and the Exemption applies (as defined in the Debenture Agreement).
This Convertible Debenture Agreement may be executed in counterparts and delivered by facsimile.
If the transferee fails to execute a Debenture Agreement, the transferee's signature on the instructions of transfer will be deemed to constitute the transferee's assent to the terms of the Debenture and the Debenture Agreement.
The Company covenants and agrees that, in the event that the Company's agency relationship with the transfer agent should be terminated for any reason prior to the Maturity Date (as defined in the Debenture Agreement), the Company shall immediately appoint a new transfer agent.