Indebtedness

Indebtedness. (1) a Promissory Note of Debtor given to Secured Party in the original principal amount of Three Hundred Thousand and 00/100 ($300,000.00) Dollars, together with all other liabilities and obligations of Debtor to Secured Party, due or to become due, direct or indirect, absolute or contingent, now existing or hereafter at any time arising; (2) a Promissory Note of Debtor given to Secured Party in the original principal amount of Three Hundred Thousand and 00/100 ($300,000.00) Dollars if the... total purchase price under the Business Transfer Agreement is not paid full by November 12, 2004; and, (3) the ten (10) Contract for Deeds relating to the sale of the Business, with Secured Party as vendor and Debtor as vendee. View More

Indebtedness. Of any Person means all obligations of such Person (a) for borrowed money, (b) evidenced by notes, bonds, debentures or similar instruments, (c) under capital leases and (d) in the nature of guarantees of the obligations described in clauses (a) through (c) above of any other Person.

Indebtedness. Of any Person means, in each case whether or not accrued on the books of the Person, (a) all indebtedness of the Person for borrowed money or for the deferred purchase price of property or services, (b) all obligations of the Person upon which interest charges are customarily paid or which are evidenced by notes, bonds, debentures, credit agreements or similar agreements or investments, (c) all obligations of the Person under conditional sale or other title retention agreements relating to... property or assets purchased by the Person, (d) all obligations of the Person under capitalized leases, (e) all obligations of the Person in respect of acceptances, letters of credit or letters of guaranty issued or created for the account of the Person, and (f) all liabilities secured by any Security Interest on any property owned by the Person, whether or not the Person has assumed or otherwise become liable for the payment thereof. View More

Indebtedness. With respect to any Person, at a particular time (a) all indebtedness of such Person for borrowed money or for the deferred purchase price of property, (b) the face amount of all letters of credit issued for the account of such Person and, without duplication, all drafts drawn thereunder, (c) all liabilities secured by any Lien on any property owned by such Person, to the extent attributable to such Person's interest in such property, even though such Person has not assumed or become liable for... the payment thereof, (d) lease obligations of such Person which, in accordance with GAAP, should be capitalized, and (e) all guarantees by such Person of any such indebtedness, letters of credit, drafts, liabilities or lease obligations of any other Person; but excluding trade and other accounts payable in the ordinary course of business in accordance with customary trade terms and which are not overdue for a period of more than 60 days or, if overdue for more than 60 days, as to which a dispute exists and adequate reserves in conformity with GAAP have been established on the books of such Person. The term "Indebtedness" shall not include amounts which have not been drawn under credit facilities, notwithstanding that such amounts when drawn will automatically be secured by an existing Lien. View More

Indebtedness. Means all liabilities, obligations and present and future indebtedness of Borrower of every kind and nature, including, without limitation, the Liabilities, and all obligations payable from Borrower to any person or entity, regardless of how evidenced, incurred, acquired or owing, whether direct, contingent, fixed, or otherwise. Without limiting the generality of the foregoing, Indebtedness includes: (a) all obligations or liabilities of any person or entity secured by any lien, claim,... encumbrance, or security interest upon Borrower's property whether or not Borrower has assumed or become liable for the payment thereof; (b) all obligations or liabilities created or arising under any lease of real or personal property or conditional sale or other title retention agreement with respect to property used or acquired by Borrower; and (c) all Charges, including obligations to pay taxes that are due but not yet payable. View More

Indebtedness. Shall mean the principal of and accrued interest on and all other amounts, payments and premiums due under this Note (including any future advances), and all other amounts, now existing or hereafter arising of any Borrower owing to Lender under and/or secured by the Loan Documents, or any amendments, modifications, renewals, substitutions and extensions of any of the foregoing.

Indebtedness. With respect to any Person means, without duplication: (i) all indebtedness (including principal, interest, fees and charges) of such Person for borrowed money or for the deferred purchase price of property or services other than trade payables included in current liabilities in accordance with GAAP and incurred in respect of Property or services purchased in the ordinary course of business and which obligation is payable on terms no longer than 180 days past the invoice date, (ii) the maximum... amount available to be drawn under all letters of credit issued for the account of such Person and all unpaid drawings in respect of such letters of credit, and (iii) all Indebtedness of the types described in clause (i) or (ii) of this definition secured by any lien on any property owned by such Person, whether or not such Indebtedness has been assumed by such Person. View More

Indebtedness. Of any Person at any date, means all indebtedness of such Person for borrowed money or for the deferred purchase price of property or services (other than trade liabilities incurred in the ordinary course of business and payable in accordance with customary practices), obligations under capital leases appearing or required to appear on the balance sheet of such Person and any other indebtedness of such Person which is evidenced by a note, bond, debenture or... similar instrument. View More

Indebtedness. Of any Person means the sum, without any duplication of (i) all Indebtedness, contingent or otherwise, for borrowed money created, assumed or guaranteed in any manner, directly or indirectly, by such Person, and (ii) the undrawn amount of any loan commitments in favor of such Person, (iii) guaranties, whether direct or indirect, continuing or specific, of Indebtedness of another Person by such Person, (iv) all rental obligations of such Person with respect to leases which have a term (including... any renewals at the option of the lessee but excluding delay rentals) of longer than one year, required by generally accepted accounting principles to be shown as a liability item on the balance sheet of such Person, (v) all Indebtedness in effect guaranteed by such Person through an agreement to purchase property, securities or services or to use facilities (including through-put and take or pay agreements), maintain working capital or other balance sheet condition, or otherwise, having the effect of enabling the obligor to satisfy Indebtedness or to assure the owner of Indebtedness against loss. View More

Indebtedness. Means and includes (without duplication) (i) all items arising from the borrowing of money, which according to GAAP, would be included in determining total liabilities as shown on the balance sheet; (ii) all indebtedness secured by any Lien on property owned by the Borrower or the Subsidiaries of the Borrower whether or not such indebtedness shall have... been assumed; (iii) all guarantees and similar contingent liabilities in respect to indebtedness of others; and (iv) all other interest-bearing obligations evidencing indebtedness to others for borrowed money. View More