Unrecouped Advances definition
Examples of Unrecouped Advances in a sentence
Notwithstanding anything to the contrary set forth herein or in the Furano Employment Agreement or elsewhere, under no circumstances may additional advances be made to any Person who has an unrecouped balance comprising part of the Guaranteed Unrecouped Advances without the prior written consent of ▇▇▇▇▇▇▇ ▇▇▇▇ or any successor to his office with Parent.
The Guaranteed Unrecouped Advances for which payment is made by the Company Stockholder and Furano pursuant to Section 7.14(c) and/or Section 7.14(d) above are referred to collectively herein as the “Paid Guaranteed Accounts”.
At Furano’s request, from time to time, Parent will in good faith review the remaining unrecouped balance with respect to the Guaranteed Unrecouped Advances and, to the extent it deems in its good faith judgment that it is oversecured, Parent will release such portion of the pledged shares as it deems to be reasonably appropriate.
Furano shall have the authority, on behalf of the Acquired Companies and Parent, to negotiate, compromise and settle the matters related to the recovery of the Guaranteed Unrecouped Advances (provided, that, any such negotiations, settlement or compromise will not affect the obligations of the Company Stockholder and Furano pursuant to Section 7.14(c) below, except with respect to amounts actually paid).
Furano shall exercise his sound business judgment in directing the Parent and/or Acquired Companies to incur any out of pocket costs, fees or expenses in connection with the recoupment or repayment of the Guaranteed Unrecouped Advances.