Indebtedness

Indebtedness. Means: (i) all indebtedness for borrowed money and all obligations evidenced by notes, bonds, debentures or other similar instruments; (ii) all obligations, contingent or otherwise, in respect of letters of credit (whether or not drawn) or bankers acceptances or similar facilities; (iii) all obligations to pay... the deferred purchase price of property or services (other than current trade payables that are incurred in the ordinary course of business and are not overdue for a period of more than 90 days; (iv) all indebtedness created or arising under any conditional sale or other title retention agreement with respect to property acquired; (v) all obligations which would be required to be disclosed on the Borrower's balance sheet as a liability in accordance with US GAAP and which would be payable more than 12 months from the date of creation thereof (other than reserves for taxes and for contingent obligations); and (vi) all obligations of the kind referred to above in this subparagraph (o) secured by (or for which the holder of such obligation has an existing right, contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights), whether or not either Borrower has become liable for the payment of such obligation; View More

Indebtedness. Will have the meanings assigned to them in the Loan Agreement.

Indebtedness. Means, as to any Person at any date, (a) 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), (b) any other indebtedness of such Person which is evidenced by a note, bond, debenture or similar instrument, (c) all obligations of such Person under Financing Leases (as defined in the Credit Agreement), (d) all... obligations of such Person in respect of bankers' acceptances issued or created for the account of such Person, (e) for purposes of Section 7 only, all obligations of such Person in respect of interest rate protection agreements, interest rate futures, interest rate options, interest rate caps and any other interest rate hedge arrangements and (f) all indebtedness or obligations of the types referred to in the preceding clauses (a) through (e) to the extent secured by any Lien on any property owned by such Person even though such Person has not assumed or otherwise become liable for the payment thereof. Notwithstanding the foregoing, in no event shall "Indebtedness" include (i) obligations of SIRVA Relocation, LLC, The Rowan Group plc, any of their respective Subsidiaries or any other Subsidiary of SIRVA Worldwide, Inc. primarily engaged in the business of providing relocation services, including home sale and purchase assistance, management of tenant responsibilities and other services to corporations that assist employees in their relocation needs, and other business related thereto, to make payments under or with respect to mortgage notes payable in the ordinary course of business in connection with the provision of relocation services or (ii) such mortgage notes. View More

Indebtedness. Means, without duplication, with respect to any Person (the "subject Person"), all liabilities, obligations and indebtedness of the subject Person to any other Person, of any kind or nature, now or hereafter owing, arising, due or payable, howsoever evidenced, created, incurred, acquired or owing, whether primary, secondary, direct, contingent, fixed or otherwise, consisting of indebtedness for borrowed money or the deferred purchase price of property, excluding purchases of property, product,... merchandise and services in the ordinary course of business, but including (a) all obligations and liabilities of any Person secured by any lien on the subject Person's property, even though the subject Person shall not have assumed or become liable for the payment thereof; (except unperfected liens incurred in the ordinary course of business and not in connection with the borrowing of money); provided, however, that all such obligations and liabilities which are limited in recourse to such property shall be included in Indebtedness only to the extent of the book value of such property as would be shown on a balance sheet of the subject Person prepared in accordance with GAAP; (b) all capital lease obligations and other obligations or liabilities created or arising under any conditional sale or other title retention agreement with respect to property used or acquired by the subject Person, even if the rights and remedies of the lessor, seller or lender thereunder are limited to repossession of such property; provided, however, that all such obligations and liabilities which are limited in recourse to such property shall be included in Indebtedness only to the extent of the book value of such property as would be shown on a balance sheet of the subject Person prepared in accordance with GAAP; (c) all obligations and liabilities under guarantees; (d) the present value of lease payments due under synthetic leases; (e) all obligations and liabilities under any asset securitization or sale/leaseback transaction; and (f) obligations of such Person in respect of letters of credit or similar instruments issued or accepted by banks and other financial institutions for the account of such Person; provided, further, however, that in no event shall the term Indebtedness include the capital stock surplus, retained earnings, minority interests in the common stock of Subsidiaries, lease obligations (other than pursuant to (b) or (d) above), reserves for deferred income taxes and investment credits, other deferred credits or reserves. View More

Indebtedness. Means all of the Company's obligations under this Agreement and the Note, in each case, whether now or hereafter existing, voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later decreased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or... recovered directly or indirectly from the Secured Party as a preference, fraudulent transfer or otherwise as such obligations may be amended, supplemented, converted, extended or modified from time to time. View More

Indebtedness. Shall mean any and all debts, liabilities, and obligations of Borrower to Purchaser, now or hereafter existing, including, without limitation, those arising under the Securities Purchase Agreement, dated the date hereof (the "Securities Purchase Agreement"), between the Borrower and Purchaser, and the $1,650,000 Secured Original Issue Discount Debenture issued by Borrower to Purchaser thereunder (the "Debenture"), whether due or not due, absolute or ... contingent, liquidated or unliquidated, determined or undetermined, held or to be held by Purchaser for its own account or as agent for another or others, whether Borrower may be liable individually or jointly with others, whether recovery upon such debts, liabilities, and obligations may be or hereafter become barred by any statute of limitations, and whether such debts, liabilities, and obligations may be or hereafter become otherwise unenforceable, and includes without limitation, any and all obligations of Borrower to Purchaser for reasonable attorneys' fees and all other costs and expenses incurred by Purchaser in the collection or enforcement of any debts, liabilities, and obligations of Borrower to Purchaser. View More

Indebtedness. Means, any indebtedness (excluding accrued expenses and trade payables), whether or not contingent: (i) in respect of borrowed money; (ii) evidenced by bonds, notes or similar instruments or letters of credit (or reimbursement agreements in respect thereof); (iii) in respect of banker's acceptances; (iv) representing Capital Lease Obligations; or Promissory Note Page 13 (v) representing the balance deferred and unpaid of the purchase price of any property or services... due more than six (6) months after such property is acquired or such services are completed, if and to the extent any of the preceding items (other than letters of credit) would appear as a liability upon a balance sheet of TISG prepared in accordance with GAAP. View More

Indebtedness. Means the Secured Loans and/or the Senior Notes, as applicable.

Indebtedness. Shall mean and include the aggregate amount of, without duplication (i) all obligations for borrowed money, (ii) all obligations evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations to pay the deferred purchase price of property or services (other than accounts payable incurred in the ordinary course of business determined in accordance with GAAP), (iv) all obligations with respect to capital leases (excluding obligations in connection with capital leases... used solely for the purchase, finance or acquisition of equipment and where such indebtedness is secured solely by such equipment), (v) all obligations created or arising under any conditional sale or other title retention agreement with respect to property acquired by such Person outside of the ordinary course of business, (vi) all reimbursement and other payment obligations, contingent or otherwise, in respect of letters of credit and similar surety instruments; and (vii) all guaranty obligations with respect to the types of Indebtedness listed in clauses (i) through (vi) above. Notwithstanding the foregoing, Indebtedness shall be deemed not to include (a) contingent obligations incurred in the ordinary course of business, (b) any indebtedness under any overdraft, treasury or cash management facilities or any automated clearinghouse transfer of funds so long as any such indebtedness is repaid in full no later than ten (10) days following the date on which it was incurred or in the case of such indebtedness in respect of credit or purchase cards, within sixty (60) days of incurrence, (c) any liability for Federal, state, local or other taxes, (d) any obligations in respect of a lease properly classified as an operating lease in accordance with GAAP or (e) any customer deposits or advance payments received in the ordinary course of business. View More

Indebtedness. (i) Indebtedness to the Banks, (ii) up to $70,000,000 in unsecured Indebtedness under lines of credit from Antwerp Diamond Bank, including guaranties by Subsidiaries of the Borrower (including, without limitation, Material Domestic Subsidiaries) in connection with such Indebtedness, (iii) up to Five Hundred and Fifty Million Yen in unsecured Indebtedness to ABN AMRO or any affiliate thereof in Japan, including guaranties by Subsidiaries of the Borrower (including, without limitation, Material... Domestic Subsidiaries) in connection with such Indebtedness, (iv) current liabilities of the Borrower not incurred through the borrowing of money or the obtaining of credit on an open account customarily extended, (v) Indebtedness in respect of taxes or other governmental charges contested in good faith and by appropriate proceedings and for which adequate reserves have been taken, (vi) other unsecured Indebtedness not in excess of $250,000, (vii) up to $20,000,000 in unsecured Indebtedness to HSBC Bank USA, (viii) up to $25,000,000 in unsecured Indebtedness to ABN AMRO or any affiliate thereof in the United Arab Emirates with respect to the Borrower's guaranty of certain Indebtedness of Gulfidam DMCC; (ix) up to $10,000,000 in unsecured Indebtedness to Bank Leumi USA, including guaranties by Subsidiaries of the Borrower (including, without limitation, Material Domestic Subsidiaries) in connection with such Indebtedness; and (x) up to $6,000,000 in Indebtedness (which shall include all Indebtedness of Subsidiaries of Borrower) to Nedbank, Limited, South Africa, including guaranties by the Borrower and Subsidiaries of the Borrower in connection with such Indebtedness; View More