Non-transferable Debt definition
Non-transferable Debt means the aggregate of (i) both short and long term borrowings of the Company due to parties other than the Vendors (including bank overdrafts and liabilities arising from hire-purchase contracts) and including accrued interest up to the date of Closing (“Net External Debt”) and (ii) the Non-transferable Shareholders Loan including accrued interest thereon.
Examples of Non-transferable Debt in a sentence
For the purposes of the calculation of the Total Consideration the amount of the Non-transferable Debt shall be taken into account by using the HUF/USD medium foreign exchange rate of the Bank prevailing one Business Day before the Closing Date (“Exchange Rate”).
For the purposes of the calculation of the Total Consideration the amount of the Non-transferable Debt shall be taken into account by using the HUF/USD medium foreign exchange rate of the Bank prevailing one Business Day before the Closing Date ("Exchange Rate").