Common use of Cancellation of Indebtedness Clause in Contracts

Cancellation of Indebtedness. No Loan Party shall cancel any claim or Indebtedness owing to it, except for adequate consideration negotiated in an arms length transaction and in the ordinary course of its business consistent with past practices.

Cancellation of Indebtedness. No Loan Party shall cancel any claim or Indebtedness debt owing to it, except for adequate reasonable consideration negotiated in on an arms arm's-length transaction basis and in the ordinary course of its business consistent with past practices.