If my understanding of the meaning "ceases to be an elligible entity,for any reason " is correct, then it seems that ALL loans for the 3 years that loans were given for shares,are repayable once he is not a director.That leaves 3 possibilities as I see it: 1) Sell shares to repay loans 2) Find half a mil of his own money to repay loans 3) refuse to pay and hope to dodge the legal system(seems the least likely of the 3).
TNG Price at posting:
9.1¢ Sentiment: None Disclosure: Held