Exchanged Debt definition

Exchanged Debt has the meaning set forth in Section 5.07(a)(iv).
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Exchanged Debt shall have the meaning set forth in Section 8.7(a).
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Exchanged Debt means, collectively, (i) the $10,000,000 of principal and accrued interest of the Purchased Debt being delivered to the Company by the Lenders in satisfaction of their funding obligation of $10,000,000 pursuant to Section 2.06 for the Series A Term Loans under this Agreement and (ii) all $2,077,778 of principal and accrued interest of the 2010 Note being delivered to the Company by the Lenders in satisfaction of $2,000,000 of their funding obligation pursuant to Section 2.06 for the Series B Term Loans under this Agreement, in each case, in accordance with the terms of the Securities Exchange Agreement.
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Examples of Exchanged Debt in a sentence

  • At the Closing, the Purchaser shall deliver or cause to be delivered to the Company the Exchanged Debt that the Purchaser is exchanging pursuant to the terms hereof, together with all appropriate instruments of transfer.

  • Upon the following terms and conditions, and in consideration of and in express reliance upon such terms and conditions and the representations, warranties and covenants of this Agreement, the Purchaser shall transfer to Company of all obligations owing in respect of the Exchanged Debt, and, in exchange therefor, the Company shall issue to the Purchaser the Warrants.

  • The Parties, and, by approval of this Agreement or the Merger, the Stockholders entitled to Merger Consideration, (i) acknowledge that the Minimum Company Stockholders Equity, which is based on financial information represented by the Company to be true and correct, constitutes the basis for calculating the amount of the Exchanged Debt (as such term is defined in the Note Exchange Agreement), and (ii) agree that the amount of the Balance Sheet Correction, if positive, constitutes a Loss to Parent.

  • SIBL desires to exchange the Exchanged Debt for the Exchanged Shares to induce Parent and Merger Sub to enter into the Merger Agreement and to consummate the Merger and other Transactions, including the issuance of the afore-referenced warrants.

  • The Purchaser shall have delivered to the Company such agreements, documents and instruments as the Company shall require to evidence the surrender of the Exchanged Debt.

  • The first date to pay interest shall be the first expiry date for interest after the offer of loan.

  • The Exchanged Debt will be capitalized upon the issuance of the Bondholder Equity.

  • All Common Shares issued and paid upon exchange of the Exchanged Debt in accordance with the terms hereof shall be deemed to have been issued and paid in full satisfaction of all rights pertaining to the Exchanged Debt.

  • At the Exchange Time and simultaneously with the exchanges contemplated by Section 1, and subject to the conditions thereof, the Company shall issue to SIBL the Exchanged Shares in exchange for the cancellation of the Exchanged Debt.

  • The closing of the exchange of the Exchanged Debt for Shares under this Agreement (the “Closing Date”) shall occur two (2) business days following the Company’s receipt of duly executed copies of this Agreement.


More Definitions of Exchanged Debt

Exchanged Debt means, individually and collectively, the 2L Accrued PIK Interest and Exchanged Notes.
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Exchanged Debt has the meaning specified in Section 7.03(b)(iii).
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Related to Exchanged Debt

  • Pledged Debt has the meaning specified in the Security Agreement.

  • Pledged Debt Securities has the meaning assigned to such term in Section 3.01.

  • Unrestricted Certificated Security means a Certificated Security that is not a Restricted Security.

  • Permitted Convertible Notes means any unsecured notes issued by the Company in accordance with the terms and conditions of Section 6.01 that are convertible into a fixed number (subject to customary anti-dilution adjustments, “make-whole” increases and other customary changes thereto) of shares of common stock of the Company (or other securities or property following a merger event or other change of the common stock of the Company), cash or any combination thereof (with the amount of such cash or such combination determined by reference to the market price of such common stock or such other securities); provided that, the Indebtedness thereunder must satisfy each of the following conditions: (i) both immediately prior to and after giving effect (including pro forma effect) thereto, no Default or Event of Default shall exist or result therefrom, (ii) such Indebtedness matures after, and does not require any scheduled amortization or other scheduled or otherwise required payments of principal prior to, and does not permit any Loan Party to elect optional redemption or optional acceleration that would be settled on a date prior to, the date that is six (6) months after the Maturity Date (it being understood that neither (x) any provision requiring an offer to purchase such Indebtedness as a result of change of control or other fundamental change (which change of control or other fundamental change, for the avoidance of doubt, constitutes a “Change of Control” hereunder), which purchase is settled on a date no earlier than the date twenty (20) Business Days following the occurrence of such change of control or other fundamental change nor (y) any early conversion of any Permitted Convertible Notes in accordance with the terms thereof, in either case, shall violate the foregoing restriction), (iii) such Indebtedness is not guaranteed by any Subsidiary of the Company other than the Subsidiary Borrowers or Subsidiary Guarantors (which guarantees, if such Indebtedness is subordinated, shall be expressly subordinated to the Secured Obligations on terms not less favorable to the Lenders than the subordination terms of such Subordinated Indebtedness), (iv) any cross-default or cross-acceleration event of default (each howsoever defined) provision contained therein that relates to indebtedness or other payment obligations of any Loan Party (such indebtedness or other payment obligations, a “Cross-Default Reference Obligation”) contains a cure period of at least thirty (30) calendar days (after written notice to the issuer of such Indebtedness by the trustee or to such issuer and such trustee by holders of at least 25% in aggregate principal amount of such Indebtedness then outstanding) before a default, event of default, acceleration or other event or condition under such Cross-Default Reference Obligation results in an event of default under such cross-default or cross-acceleration provision and (v) the terms, conditions and covenants of such Indebtedness must be customary for convertible Indebtedness of such type (as determined by the board of directors of the Company, or a committee thereof, in good faith).

  • Equity Preferred Securities means, with respect to any Person, any trust preferred securities or deferrable interest subordinated debt securities issued by such Person or other financing vehicle of such Person that (i) have an original maturity of at least twenty years, and (ii) require no repayments or prepayments and no mandatory redemptions or repurchases, in each case, prior to the first anniversary of the latest Maturity Date.