Indebtedness

Indebtedness. Shall mean the sum of Current Indebtedness and Funded Indebtedness.

Indebtedness. Means, for any Person, without duplication: (i) all indebtedness or liability for or on account of money borrowed by, or for or on account of deposits with or advances to (but not including accrued pension costs, deferred income taxes or accounts payable of) such Person; (ii) all obligations (including contingent liabilities) of such Person evidenced by bonds, debentures, notes, banker's acceptances or similar instruments; (iii) all indebtedness or liability for or... on account of property or services purchased or acquired by such Person; (iv) any amount secured by a Lien on property owned by such Person (whether or not assumed) and Capital Lease Obligations of such Person (without regard to any limitation of the rights and remedies of the holder of such Lien or the lessor under such capital lease to repossession or sale of such property); (v) the maximum available amount of all standby letters of credit issued for the account of such Person and, without duplication, all drafts drawn thereunder (to the extent unreimbursed); and (vi) all Guarantees of such Person; provided that the following shall be excluded from Indebtedness of the Account Party and any of its Subsidiaries for purposes of this Agreement: (a) all payment liabilities of any such Person under insurance and reinsurance policies from time to time issued by such Person, including guarantees of any such payment liabilities; (b) all other liabilities (or guarantees thereof) arising in the ordinary course of any such Person's business as an insurance or reinsurance company (including GICs and Stable Value Instruments and any Specified Transaction Agreement relating thereto), or as a corporate member of The Council of Lloyd's, or as a provider of financial or investment services or contracts (including GICs and Stable Value Instruments and any Specified Transaction Agreement relating thereto); and (c) any Exempt Indebtedness; View More

Indebtedness. Means (a) all obligations for borrowed money, (b) all obligations evidenced by bonds, debentures, notes, or other similar instruments and all reimbursement or other obligations in respect of letters of credit, bankers acceptance, current swap agreements, interest rate agreements, interest rate swaps, or other financial products, (c) all capital lease obligations that exceed $100,000 in any fiscal year to the extent incurred in the ordinary course of business, (d) all obligations or liabilities... secured by a lien or encumbrance on any asset of Ortec or its Subsidiaries, irrespective of whether such obligation or liability is assumed, (e) all obligations for the deferred purchase price of assets, together with trade debt and other accounts payable that exceed $100,000 in any fiscal year to the extent incurred in the ordinary course of business,, (f) all synthetic leases, and (g) any obligation guaranteeing or intended to guarantee (whether directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse) any of the foregoing obligations of any other person; provided, however, Indebtedness shall not include (a) usual and customary trade debt incurred in the ordinary course of business and (b) endorsements for collection or deposit in the ordinary course of business. View More

Indebtedness. Shall mean any obligation of the Company or Parent, as appropriate, which under generally accepted accounting principles is required to be shown on the balance sheet of the Company or Parent, as appropriate, as a liability, excluding however, accounts payable, accrued expenses and other short term liabilities.

Indebtedness. For any Person at the time of any determination, without duplication, all obligations, contingent or otherwise, of such Person that, in accordance with GAAP, should be classified upon the balance sheet of such Person as indebtedness, but in any event including: (i) all obligations for borrowed money, (ii) all obligations arising from installment purchases of property or representing the deferred purchase price of property or services in respect of which such Person is liable, contingently or... otherwise, as obligor or otherwise (other than trade payables and other current liabilities incurred in the ordinary course of business on terms customary in the trade), (iii) all obligations evidenced by notes, bonds, debentures, acceptances, or instruments, or arising out of letters of credit or bankers' acceptances issued for such Person's account, (iv) all obligations, whether or not assumed, secured by any encumbrance or payable out of the proceeds or production 8 from any property or assets now or hereafter owned or acquired by such Person, (v) all obligations for which such Person is obligated pursuant to a guaranty, (vi) the capitalized portion of lease obligations under capital leases, (vii) all obligations for which such Person is obligated pursuant to any interest rate protection agreements or other derivative agreements or arrangements, and (viii) all obligations of such Person upon which interest charges are customarily paid or accrued. View More

Indebtedness. Of any Person means and includes all present and future obligations of such Person, which shall include, without limitation, all obligations (i) which in accordance with GAAP shall be classified upon a balance sheet of such Person as liabilities of such Person, (ii) for borrowed money, (iii) which have been incurred in connection with the acquisition of Property (including, without limitation, all obligations of such Person evidenced by any debenture, bond, note, commercial paper or other... similar security, but excluding, in any case, obligations arising from the endorsement in the ordinary course of business of negotiable instruments for deposit or collection), (iv) secured by any Lien existing on Property owned by such Person, even though such Person has not assumed or become liable for the payment of such obligations, (v) created or arising under any conditional sale or other title retention agreement with respect to Property acquired by such Person, notwithstanding the fact that the rights and remedies of the seller, lender or lessor under such agreement in the event of default are limited to repossession or sale of such Property, (vi) which are Capitalized Lease Obligations, (vii) for all Guaranties, whether or not reflected in the balance sheet of such Person, (viii) that are rental obligations under leases for personal property or fixtures and (ix) which are all reimbursement and other payment obligations (whether contingent, matured or otherwise) of such Person in respect of any acceptance or documentary credit. Notwithstanding the foregoing, Indebtedness shall not include (i) accounts payable incurred in the ordinary course of business, and (ii) Indebtedness represented by rental or lease obligations for personal property or fixtures not to exceed $1,500,000 in any period of 12 months for any Person and its Subsidiaries. View More

Indebtedness. Means, without duplication, (i) indebtedness for money borrowed (whether or not the recourse of the lender is to the whole of the assets of the Borrower or only to a portion thereof), (ii) indebtedness evidenced by notes, bonds, debentures or other similar instruments; (iii) obligations under capital leases, (iv) obligations for the deferred purchase price of property, conditional sale obligations and obligations under title retention agreements (but excluding trade accounts payable and other... accrued current liabilities arising in the ordinary course of business consistent with past practice and payment of which is not more than 60 days overdue), (v) obligations for reimbursement of drawings on letters of credit or in respect of bankers' acceptances, (vi) obligations of other Persons guaranteed, or in effect guaranteed, by the Borrower, and (vii) obligations and liabilities secured by a lien, security interest or other similar interest in or encumbrance upon any property or asset of the Borrower. View More

Indebtedness. Shall mean and include (a) amounts classified as debt or borrowings on Borrower's Financial Statements, together with all other items which in accordance with Generally Accepted Accounting Principles would be included on the liability side of a balance sheet on the date as of which Indebtedness is to be determined (excluding capital stock, surplus, surplus reserves and deferred credits), (b) all guaranties, endorsements and other contingent obligations in respect of, or any obligations-to... purchase or otherwise acquire, Indebtedness of others, and (c) all Indebtedness secured by any Lien existing on any interest of the Person with respect to which Indebtedness is being determined in Property owned subject to such Lien whether or not such Person is liable for the payment of such Indebtedness, (d) deferred liabilities, and (e) capitalized lease obligations; provided, that such term shall not mean or include any Indebtedness in respect of which monies sufficient to p ay and discharge the same in full (either on the expressed date of maturity thereof or on such earlier date as such Indebtedness may be duly called for redemption and payment) shall be deposited with a depository, agency or trustee acceptable to the Lender in trust for the payment thereof. Indebtedness shall be determined on a consolidated basis. View More

Indebtedness. Means all items which, in accordance with GAAP, would be classified as liabilities on the balance sheet of the Borrower, including all Capitalized Leases.

Indebtedness. Means, with respect to Borrower, all obligations of Borrower which would be classified as indebtedness on a balance sheet (including the footnotes thereto) prepared in accordance with GAAP.