Provident Fund Loan definition
Provident Fund Loan means the outstanding amount of principal plus incurred interest, as of 11:59pm on July 30, 2012 (not including amounts that were converted into Common Stock prior to or at such time) under the unsecured convertible promissory note between Provident Fund and the Company, dated July 30, 2008.
Examples of Provident Fund Loan in a sentence
CBI agrees to convert the CBI Loan, in full, into Common Stock, in accordance with the provisions of the Unsecured Convertible Promissory Note, dated July 30, 2008, between CBI and the Company provided that the Provident Fund convert, in full, the Provident Fund Loan as per Section 6.1.1 below.