Common use of Settlement of Intergroup Indebtedness Clause in Contracts

Settlement of Intergroup Indebtedness. Each of SG Holdings or any member of the SG Holdings Group, on the one hand, and SG DevCo or any member of the SG DevCo Group, on the other hand, will, repay, defease, capitalize, cancel, forgive, discharge, extinguish, assign, discontinue or otherwise cause to be satisfied, with respect to the other Party, as the case may be, all Intergroup Indebtedness owed or owed by the other Party on or prior to the Distribution, except the (i) Promissory Note, dated August 9, 2023, issued by SG Holdings to SG DevCo in the principal amount of $908,322.95 which shall remain outstanding after the Distribution, and (ii) as otherwise agreed to in good faith by the Parties in writing on or after the date hereof.