Common use of Cancellation of Indebtedness Clause in Contracts

Cancellation of Indebtedness. No Loan Party shall cancel any material claim or Indebtedness owing to it, except for reasonable consideration and in the ordinary course of its business.

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

Cancellation of Indebtedness. No Each Loan Party shall not, and not permit any Subsidiary to, cancel any material claim or Indebtedness debt owing to it, except with respect to the cancellation of Indebtedness owing to a Person who is not a holder of Indebtedness that is subordinated to any of the Obligations, (i) for reasonable consideration and or (ii) in the ordinary course of its business.

Cancellation of Indebtedness. No Loan Party shall, and no Loan Party shall permit any of its Subsidiaries to, cancel any material claim or Indebtedness debt owing to it, except for reasonable consideration and in the ordinary course of its business.

Cancellation of Indebtedness. No Each of the Loan Parties shall not, and shall not permit any other Loan Party shall to, cancel any material claim or Indebtedness debt owing to it, except for reasonable consideration and or in the ordinary course of its business.

Cancellation of Indebtedness. No Loan Party shall cancel any material claim or Indebtedness debt owing to itit by a third-party, except for reasonable consideration negotiated on an arm’s length basis and in the ordinary course of its businessbusiness consistent with past practices.

Cancellation of Indebtedness. No Each of the Loan Parties shall not, and to the extent applicable, shall not permit any other Loan Party shall to, cancel any material claim or Indebtedness debt owing to it, except in exchange for reasonable consideration and or in the ordinary course of its business.

Cancellation of Indebtedness. No Loan Party shall cancel any material claim or Indebtedness owing to it, except for reasonable consideration negotiated on an arm's length basis and in the ordinary course of its business, or directly or indirectly, voluntarily prepay, redeem, defease or repurchase any principal of, interest on or other amount payable in respect of Indebtedness (other than the Obligations).

Cancellation of Indebtedness. No Loan Party shall cancel any material claim or Indebtedness debt owing to it, except for reasonable consideration negotiated on an arm’s-length basis and in the ordinary course of its businessbusiness consistent with past practice.