PIBL definition
Examples of PIBL in a sentence
The parties agree that, subject to the restrictions set forth in Section 10, below, and to any restrictions imposed under the Securities Act of 1933, as amended, and other applicable securities laws, this Amended Debenture is transferable by PIBL or any other holder of this Amended Debenture from time to time (each such holder, individually, a "HOLDER" and all such holders, collectively, the "HOLDERS").
Upon execution of this Amended Debenture by the parties hereto, and in exchange therefor, PIBL shall surrender the instrument evidencing the Original Debenture to MED for cancellation.
All conversion rights granted to PIBL or its designee(s) or assignee(s) under the Original Debenture or the Escrow Agreement relating thereto are hereby eliminated, cancelled, and of no further effect.
As we informed you on [INSERT DATE OF PREVIOUS LETTER], as a result of these discussions, Chartwell, Management and PIBL have entered into certain arrangements whereby all future distributions (other than administrative fees payable to Management) payable by the NCOE to or for the benefit of Chartwell or Management shall be redirected to PIBL.
The correct information for the PIBL Account where all such future distributions are to be redirected is as follows: The Northern Trust International Banking Corporation Fedwire ABA #026001122 CHIPS #0112/UID 220337 ▇▇ ▇road Street, 10th Floor New York, New York 1000▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇: ▇▇▇-▇▇▇▇/▇▇▇ the Account #107862-202▇▇ of Private Investment Bank Limited SWIFT DWCIBSNS Please sign and acknowledge your receipt of this let▇▇▇.
However, such irrevocable instructions (the "IRREVOCABLE INSTRUCTIONS") omitted certain PIBL Account information.
ARL AGREES THAT SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO IT AT ITS ADDRESS SET FORTH BELOW OR AT SUCH OTHER ADDRESS OF WHICH PIBL SHALL HAVE BEEN NOTIFIED IN WRITING, AND AGREES THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.
On [INSERT DATE OF PREVIOUS LETTER], we gave you IRREVOCABLE INSTRUCTIONS to, until the confirmation of a Plan of Reorganization in Med Diversified, Inc.'s currently pending bankruptcy proceedings, redirect all future distributions (other than administrative fees payable to Management) payable by the NCOE to or for the benefit of Chartwell or Management to an account of PIBL (the "PIBL ACCOUNT").
All conversion rights granted to PIBL or its designee(s) or assignee(s) under paragraphs 4 and 5 of the Original Debenture are hereby eliminated, cancelled, and of no further effect.
ARL further agrees that, without limiting the generality of this Guaranty, if an Event of Default shall have occurred and be continuing and PIBL is prevented by applicable law from exercising its remedies under the Amended Debentures, PIBL shall be entitled to receive hereunder from ARL, upon demand therefor, the sums which would have otherwise been due from Med had such remedies been exercised.