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.

Related to GPL Debt

  • Intercompany Indebtedness means Indebtedness of Company or any of its Subsidiaries which is owing to Company or any of its Subsidiaries.

  • Company Indebtedness means any obligations and liabilities created, issued or incurred by the Purchased Entities for borrowed money, including without limitation, bank loans, notes payable, capital lease obligations, guarantees of indebtedness for borrowed money of others, and all principal, interest, fees, prepayment penalties or other amounts due or owing with respect thereto.

  • Second Lien Indebtedness means the Indebtedness of the Loan Parties owing to the Second Lien Agent and the Second Lien Lenders under the Second Lien Credit Agreement, which Indebtedness is on terms and conditions reasonably acceptable to the Collateral Agent.

  • Unsecured Indebtedness means Indebtedness which is not Secured Indebtedness.

  • Consolidated First Lien Indebtedness means Consolidated Indebtedness that is secured by a first priority Lien (other than Permitted Liens) on assets of Holdings or any Restricted Subsidiary.