VCI Debt definition

VCI Debt by VCI to VELTI S.A., and the due and timely performance and discharge in full of all other non-monetary obligations under the “VCI Loan Agreement” by VCI to VELTI S.A.; (iv) the due and timely payment in full of the “DIGITAL RUM Debt to VELTI S.A.” by DIGITAL RUM to VELTI S.A.; (v) the due and timely payment in full of the “DIGITAL RUM Debt to VPS” by DIGITAL RUM to VPS; and (vi) the due and timely performance and discharge in full of the obligations of the other Debtors under this Agreement and the other Framework Documents towards each and any of the Secured Parties. For the avoidance of doubt CY1 has undertaken directly (i) as Purchaser of the Business Receivables and the Intellectual Property, the due and timely payment in full of the AR Transfer Consideration & IP Transfer Consideration, and all other monetary obligations under the AR Transfer Agreement and the IP Transfer Agreement, as well as the due and timely performance and discharge in full of all other non-monetary obligations thereunder towards the Seller, being VELTI S.A.; and (ii) as a Party hereunder, the due and timely performance and discharge in full of its own obligations under this Agreement and the other Framework Documents.
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VCI Debt means any and all amounts owing by VCI to VELTI S.A. under the 14/09/2007 dated loan agreement whereby VELTI S.A. granted a loan to VCI for the amount of Euro 5,000,000.00 (five million) (the “VCI Loan Agreement”);
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Examples of VCI Debt in a sentence

  • At the Closing, Ingr▇▇ ▇▇▇ll convert $3,000,000 of principal amount of the VCI Debt into the Ingr▇▇ ▇▇▇res.

  • At -------------------------------------------------------------- the Closing, ▇▇▇▇▇▇ shall convert $3,000,000 of principal amount of the VCI Debt into the ▇▇▇▇▇▇ Shares.

  • Subject to the terms and conditions set forth in this Agreement and the consummation of the Merger, the parties have agreed to restructure the VCI Debt.

  • As of the date of this Agreement, VCI is indebted to Ingram in the aggregate approximate amount of $4,500,000 (the "VCI Debt").

  • At the Closing, ▇▇▇▇▇▇ shall convert $3,000,000 of principal amount of the VCI Debt into the ▇▇▇▇▇▇ Shares.

  • At the Closing, ▇▇▇▇▇▇ shall convert $3,000,000 of principal amount ---------- of the VCI Debt into the ▇▇▇▇▇▇ Shares.

  • At the Closing, Ingram shall convert $3,000,000 of principal amount ---------- of the VCI Debt into the Ingram Shares.

Related to VCI Debt

  • Subordinated Indebtedness means any Indebtedness of the Borrower or any Subsidiary the payment of which is subordinated to payment of the obligations under the Loan Documents.

  • Acquisition Indebtedness any Indebtedness of the Company or any of its Subsidiaries that has been issued for the purpose of financing, in whole or in part, a Material Acquisition and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any pre-existing Indebtedness of the Company, any of its Subsidiaries or the person(s) or assets to be acquired); provided that (a) the release of the proceeds thereof to the Company and its Subsidiaries is contingent upon the consummation of such Material Acquisition and, pending such release, such proceeds are held in escrow (and, if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such acquisition is terminated prior to the consummation of such Material Acquisition or if such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Company and its Subsidiaries in respect of such Indebtedness) or (b) such Indebtedness contains a “special mandatory redemption” provision (or other similar provision) or otherwise permits such Indebtedness to be redeemed or prepaid if such Material Acquisition is not consummated by the date specified in the definitive documentation relating to such Indebtedness (and if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated in accordance with its terms prior to the consummation of such Material Acquisition or such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such Indebtedness is so redeemed or prepaid within 90 days of such termination or such specified date, as the case may be).

  • Subordinated Indebtedness Documents means any document, agreement or instrument evidencing any Subordinated Indebtedness or entered into in connection with any Subordinated Indebtedness.

  • Securitization Indebtedness means (1) Indebtedness of the Issuer or any of its Restricted Subsidiaries incurred pursuant to on-balance sheet Securitizations treated as financings and (2) any Indebtedness consisting of advances made to the Issuer or any of its Restricted Subsidiaries based upon securities issued by a Securitization Entity pursuant to a Securitization and acquired or retained by the Issuer or any of its Restricted Subsidiaries.

  • Acquisition Debt means any Indebtedness for Borrowed Money of the Borrower or any of its Subsidiaries that has been issued for the purpose of financing, in whole or in part, a Material Acquisition and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any pre-existing Indebtedness for Borrowed Money of the Borrower, any of its Subsidiaries or the Person(s) or assets to be acquired); provided that (a)(i) the release of the proceeds thereof to the Borrower and its Subsidiaries is contingent upon the consummation of such Material Acquisition and, pending such release, such proceeds are held pursuant to an escrow or similar arrangement and (ii) if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated prior to the consummation of such Material Acquisition or if such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness for Borrowed Money, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Borrower and its Subsidiaries in respect of such Indebtedness for Borrowed Money or (b)(i) such Indebtedness for Borrowed Money contains a “special mandatory redemption” provision (or other similar provision) or otherwise permits such Indebtedness for Borrowed Money to be redeemed or prepaid if such Material Acquisition is not consummated by the date specified in the definitive documentation relating to such Indebtedness for Borrowed Money, and (ii) if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated in accordance with its terms prior to the consummation of such Material Acquisition or such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness for Borrowed Money, such Indebtedness for Borrowed Money is so redeemed or prepaid within ninety (90) days of such termination or such specified date, as the case may be.