Examples of Seller’s Note in a sentence
Except for filings that may be required under applicable federal and state securities laws in connection with the issuance and sale of the Seller’s Note, all consents, authorizations, orders, filings and registrations which Seller is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date hereof.
On the Transfer Closing Date, (i) Purchaser shall pay the Transfer Price equal to $60,000.00 in United States dollars by wire transfer of immediately available funds to the Seller (ii) Seller shall deliver to Purchaser the Seller’s Note, duly endorsed to Purchaser.
Representatives of civil liberties groups and privacy experts have expressed concerns regarding (1) the adequacy of protections for security, data sharing, identity theft, and other identified uses of biometric data and (2) secondary uses and “function creep.” These concerns relate to the adequacy of protections under current law for the large-scale data handling in a biometric system.
Having paid reduced purchase consideration due to the Seller’s Note and the undisclosed guarantee to Goldman provided by Synchronoss, Sequential’s capital was freed up to enter into the $9.2 million license transaction, which Synchronoss then improperly treated as free-standing revenue to pad its fourth quarter and full-year 2016 results.
Specifically, the Company provided to Sequential a Seller’s Note of $83 million to finance the sale of the activation business to Sequential.