GPL Debt definition

GPL Debt means the aggregate principal amount of indebtedness of US $1,128,345 together with accrued and unpaid interest owed by the Company to the SCRN Notes Sellers together with accrued and unpaid interest thereon.
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Examples of GPL Debt in a sentence

  • Buyer shall use its good faith efforts to structure the acquisition of the Shares and GPL Debt such that it will constitute a tax-free reorganization if possible and practicable for Buyer to do so.

  • The shareholders of GPL other than Buyer (the “GPL Shareholders”) will sell all of their Shares constituting all of the issued and outstanding shares of GPL other than those shares owned by Buyer and all of their GPL Debt, to Buyer in accordance with the terms of this Letter of Intent.

  • The Buyer Shares issued in consideration for both the Shares and the GPL Debt will be subject to escrow and a lock-up agreement providing for the escrow and lock-up of 50% of such shares for six months following the date of issuance and 50% of such shares for 12 months following the date of issuance.

  • One-half of such consideration for the GPL Debt will be payable in shares of common stock of Buyer as described below, and one-half of such consideration will be paid in cash at Closing.