Satisfaction of Debts Sample Clauses
The Satisfaction of Debts clause outlines the process by which outstanding financial obligations between parties are settled or discharged. Typically, this clause specifies the timing, method, and conditions under which debts must be paid, such as requiring payment in full upon a certain event or allowing for set-off against other amounts owed. Its core practical function is to ensure that all parties have a clear understanding of how and when debts will be resolved, thereby reducing the risk of disputes and providing certainty regarding financial responsibilities.
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Satisfaction of Debts. Without limiting clause 31, each Mortgagee shall accept the distribution of moneys under this clause in full and final satisfaction of all Secured Moneys owing to it, and any debt represented by any shortfall that exists after any final distribution under this clause is extinguished. -------------------------------------------------------------------------------- Page 29 SECURITY TRUST DEED ▇▇▇▇▇ ▇▇▇▇▇ & ▇▇▇▇▇▇▇ --------------------------------------------------------------------------------
Satisfaction of Debts. In connection with the winding-up of ACQUISITION, the Board shall take all appropriate measures:
a. To comply with applicable federal and state tax laws and other laws relating to entity dissolutions; and
b. To bar known and unknown claims against ACQUISITION to the extent possible under the laws of the State of Delaware.
Satisfaction of Debts. Each Secured Creditor will accept the distribution of money to it under clause 13.1 in full and final satisfaction of all Secured Moneys owing to it and any debt represented by any shortfall after any final distribution under clause 13.1 will thereupon be extinguished. -------------------------------------------------------------------------------- 14. Supplemental Security Trustee provisions
Satisfaction of Debts. Seller shall have made appropriate arrangements for the termination of any liens and encumbrances against any of the Assets to be Acquired.
Satisfaction of Debts. Each Secured Creditor shall accept the distribution of moneys under this clause in full and final satisfaction of all Secured Moneys.
Satisfaction of Debts. Immediately prior to Closing, HOC shall satisfy all of its liabilities, including without limitations all of its accounts payable and advances from shareholders which as of September 30, 2004 totaled $46,089.00.
Satisfaction of Debts. 24 16.6 Payments into US$ Account ..................................24 16.7 Payments out of US$ Account ................................24 16.8 Excluded amounts ...........................................24
Satisfaction of Debts. The Principal Stockholders and all other officers and directors of the Company, together with their spouses, blood relations and affiliates, shall have taken reasonable efforts to pay in full, with interest if applicable, all of their outstanding indebtedness to the Company, whether or not then due.
Satisfaction of Debts. Without limiting clause 31, each Mortgagee shall accept the distribution of moneys under this clause in full and final satisfaction of all Secured Moneys owing to it, and any debt represented by any shortfall that exists after any final distribution under this clause is extinguished.
Satisfaction of Debts. The Company shall have repaid at or prior to the Closing as much of the Debt as it is able to repay from its available cash resources, and all Debt outstanding as of the Closing shall have been satisfied in full (including through application of a portion of the Purchase Price at the Closing as contemplated in Section 2.3). Reasonably satisfactory evidence (as determined by the Buyer) of such repayment shall have been delivered to the Buyer.