Example ContractsClausesDebt Cancellation
Debt Cancellation
Debt Cancellation contract clause examples

Debt Cancellation. shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases, and then only to the extent permitted in accordance herewith) owed to by any Person, except for adequate consideration and in the ordinary course of ’s business.

Cancellation of Debt Cancel any claim or debt owing to it, except for reasonable consideration negotiated on an arm’s-length basis and in the Ordinary Course of Business consistent with past practices and customary write downs and charge offs for bad debts consistent with past practices

Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the Company.

CANCELLATION. After all Principal and accrued and unpaid Interest owed on this Note have either been paid or converted in full, this Note shall automatically be deemed canceled. Thereupon, the Holder shall promptly surrender this Note to the Company for cancellation, and it shall not be reissued.

Cancellation. If any party elects to cancel this Agreement because of any breach by another party or if escrow fails to close by the agreed date because of any breach by another party, the party electing to cancel shall deliver to escrow agent a notice containing the address of the party in breach and stating that this Agreement shall be cancelled unless the breach is cured within three (3) days following the delivery of the notice to the breaching party. Within three

Cancellation. Notwithstanding the foregoing, this Award may be canceled by the Committee at any time, if in the opinion of the Committee, the Participant engages in activities contrary to the interests of the Company or any of its subsidiaries.

Cancellation. Notwithstanding the forgoing paragraphs 5(a), [(b), and (c) above], if Grantee’s employment is terminated at least six (6) months following the Grant Date as a result of # Retirement or applicable termination of employment when Grantee is Retirement Eligible; # Total Disability or death and Grantee is not Retirement Eligible, or # by the Company for reasons other than Cause and Grantee is not Retirement Eligible, and the terms of the Non-Competition and Restrictive

unsecured Indebtedness to trade creditors incurred in the ordinary course of business; # Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; # Indebtedness secured by Liens permitted under clauses (a) and (c) of the definition of “Permitted Liens” hereunder;

Indebtedness pursuant to corporate credit cards not with SVB in an aggregate amount not to exceed $250,000 at any time;

Debt Issuances. The Borrower shall make mandatory principal prepayments of the Term Loans in the manner set forth in clause (iv) below in an amount equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any incurrence of Indebtedness by the Borrower or any of its Subsidiaries not otherwise permitted pursuant to [Section 9.3]. Such prepayment shall be made within three (3) Business Days after the date of receipt of the Net Cash Proceeds of any such incurrence of Indebtedness.

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