Exchanged Debt definition

Exchanged Debt has the meaning set forth in Section 5.07(a)(iv).
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Exchanged Debt shall have the meaning set forth in Section 8.7(a).
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Exchanged Debt means, collectively, (i) the $10,000,000 of principal and accrued interest of the Purchased Debt being delivered to the Company by the Lenders in satisfaction of their funding obligation of $10,000,000 pursuant to Section 2.06 for the Series A Term Loans under this Agreement and (ii) all $2,077,778 of principal and accrued interest of the 2010 Note being delivered to the Company by the Lenders in satisfaction of $2,000,000 of their funding obligation pursuant to Section 2.06 for the Series B Term Loans under this Agreement, in each case, in accordance with the terms of the Securities Exchange Agreement.
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Examples of Exchanged Debt in a sentence

  • At the Closing, the Purchaser shall deliver or cause to be delivered to the Company the Exchanged Debt that the Purchaser is exchanging pursuant to the terms hereof, together with all appropriate instruments of transfer.

  • Upon the following terms and conditions, and in consideration of and in express reliance upon such terms and conditions and the representations, warranties and covenants of this Agreement, the Purchaser shall transfer to Company of all obligations owing in respect of the Exchanged Debt, and, in exchange therefor, the Company shall issue to the Purchaser the Warrants.

  • The Parties, and, by approval of this Agreement or the Merger, the Stockholders entitled to Merger Consideration, (i) acknowledge that the Minimum Company Stockholders Equity, which is based on financial information represented by the Company to be true and correct, constitutes the basis for calculating the amount of the Exchanged Debt (as such term is defined in the Note Exchange Agreement), and (ii) agree that the amount of the Balance Sheet Correction, if positive, constitutes a Loss to Parent.

  • SIBL desires to exchange the Exchanged Debt for the Exchanged Shares to induce Parent and Merger Sub to enter into the Merger Agreement and to consummate the Merger and other Transactions, including the issuance of the afore-referenced warrants.

  • The Purchaser shall have delivered to the Company such agreements, documents and instruments as the Company shall require to evidence the surrender of the Exchanged Debt.

  • The first date to pay interest shall be the first expiry date for interest after the offer of loan.

  • The Exchanged Debt will be capitalized upon the issuance of the Bondholder Equity.

  • All Common Shares issued and paid upon exchange of the Exchanged Debt in accordance with the terms hereof shall be deemed to have been issued and paid in full satisfaction of all rights pertaining to the Exchanged Debt.

  • At the Exchange Time and simultaneously with the exchanges contemplated by Section 1, and subject to the conditions thereof, the Company shall issue to SIBL the Exchanged Shares in exchange for the cancellation of the Exchanged Debt.

  • The closing of the exchange of the Exchanged Debt for Shares under this Agreement (the “Closing Date”) shall occur two (2) business days following the Company’s receipt of duly executed copies of this Agreement.


More Definitions of Exchanged Debt

Exchanged Debt means, individually and collectively, the 2L Accrued PIK Interest and Exchanged Notes.
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Exchanged Debt has the meaning specified in Section 7.03(b)(iii).
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