Permitted Indebtedness

Permitted Indebtedness. Is: (a)Borrower's indebtedness to Bank under this Agreement or any other Loan Document; (b)Indebtedness existing on the Effective Date that is acceptable to Bank and shown on the Schedules; (c)Subordinated Debt; (d)Indebtedness to trade creditors incurred in the ordinary course of business; (e)Indebtedness secured by Permitted Liens; (f) Indebtedness of Borrower to any Subsidiary and Contingent Obligations of any Subsidiary with respect to obligations... of Borrower (provided that the primary obligations are not prohibited hereby), and Indebtedness of any Subsidiary to any other Subsidiary and Contingent Obligations of any Subsidiary with respect to obligations of any other Subsidiary (provided that the primary obligations are not prohibited hereby); (g) Other Indebtedness, not otherwise permitted by Section 7.4, not exceeding $250,000 in the aggregate outstanding at any time; and (h) Extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (f) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be. View More

Permitted Indebtedness. Is: (a) Borrower's indebtedness to Bank under this Agreement or any other Loan Document; (b) Indebtedness existing on the Closing Date and shown on the Schedule; (c) Subordinated Debt; (d) Indebtedness to trade creditors incurred in the ordinary course of business; and (e) Indebtedness secured by Permitted Liens.

Permitted Indebtedness. Means (A) Indebtedness incurred by the Company that is made expressly subordinate in right of payment to the Indebtedness evidenced by this Note, as reflected in a written agreement acceptable to the Holder and approved by the Holder in writing (which approval shall not be unreasonably delayed), and which Indebtedness does not provide at any time for (1) the payment, prepayment, repayment, repurchase or defeasance, directly or indirectly, of any principal or premium, if any, thereon until... ninety-one (91) days after the Maturity Date or later and (2) total interest and fees at a rate in excess of the Interest Rate hereunder, (B) Indebtedness secured by Permitted Liens, (C) Indebtedness to trade creditors incurred in the ordinary course of business, (D) extensions, refinancings and renewals of any items of Permitted Indebtedness, provided that the principal amount is not increased or the terms modified to impose more burdensome terms upon the Company or its subsidiary, as the case may be, (E) Indebtedness outstanding on the Issuance Date and as disclosed in Schedule 28(o) hereto, and (F) Indebtedness of the Company or any subsidiary thereof, in addition to that described in clauses (A) through (E) of this definition, that is not material to the Company and in an aggregate principal amount outstanding at any time not to exceed $100,000. View More

Permitted Indebtedness. Means (i) the Loans and other Obligations; and (ii) Indebtedness existing on the date hereof and shown on Exhibit A hereto; (iii) Subordinated Debt; (iv) Indebtedness owing to Senior Lender not to exceed the Senior Debt Limit specified in the Schedule; (v) other Indebtedness secured by Permitted Liens; (vi) reimbursement obligations in respect of letters of credit in an aggregate face amount outstanding not to exceed $300,000 at any time outstanding, which has been... reported to PFG in writing, and, in the case of reimbursement obligations to the Senior Lender in respect of letters of credit which do not exceed the Senior Debt Limit (taking into account all other Indebtedness to Senior Lender). View More

Permitted Indebtedness. Is: (a) Borrower's indebtedness to Bank under this Agreement or the Loan Documents; (b) Indebtedness existing on the Closing Date and shown on the Perfection Certificate; (c) Subordinated Debt; (d) Indebtedness to trade creditors and with respect to surety bonds and similar obligations incurred in the ordinary course of business; (c) Indebtedness secured by Permitted Liens;... and (f) Extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (e) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be. View More

Permitted Indebtedness. Means: (a) Indebtedness existing on the Closing Date and refinancings, renewals and extensions of any such Indebtedness if (i) the average life to maturity thereof is greater than or equal to that of the Indebtedness being refinanced or extended (ii) if the principal amount thereof or interest payable thereon is not increased, (iii) no additional Liens are granted and (iv) the terms thereof are not less favorable to the Company or the Subsidiary incurring such... Indebtedness than the Indebtedness being refinanced, renewed or extended; (b) Guaranties by any Subsidiary of any "Permitted Indebtedness" of the Company or another Subsidiary; (c) Indebtedness representing the deferred purchase price of property and capital lease obligations which collectively does not exceed $1,500,000 in aggregate principal amount; and (d) Indebtedness of the Company to any wholly owned Subsidiary and Indebtedness of any wholly owned Subsidiary to the Company or another wholly owned Subsidiary which constitutes "Permitted Indebtedness." View More

Permitted Indebtedness. Means (i) total Indebtedness of the Company and the Subsidiaries not to exceed $2 million in the aggregate outstanding at any time; provided, however, that such Indebtedness shall be made expressly subordinate in right of payment to the Indebtedness evidenced by the Notes, as reflected in a written agreement acceptable to the Holder and approved by the Holder in writing, and which Indebtedness does not provide at any time for the payment, prepayment, ... repayment, repurchase or defeasance, directly or indirectly, of any principal or premium, if any, thereon until ninety-one (91) days after the Maturity Date or later; (ii) equipment leases and purchase money obligations of the Company and the Subsidiaries not to exceed $1,000,000 in the aggregate outstanding at any time, and (iii) Indebtedness evidenced by this Note and the Other Notes. View More

Permitted Indebtedness. Means (1) Indebtedness existing on the Closing Date and disclosed in the SEC Reports, (2) Purchase Money Indebtedness, (3) Indebtedness to trade creditors incurred in the ordinary course of business, and (4) extensions, refinancings and renewals of any items of Permitted Indebtedness in clauses (1) and (2) hereof, provided that the principal amount is not increased, other than by their existing terms, or the terms modified to impose more burdensome terms upon Company and such Indebtedness shall... not be secured by any additional collateral. View More

Permitted Indebtedness. Shall mean (a) with respect to the Vertex Facility, $800,000.00 plus Default Expenses, (b) with respect to the Texas Mezzanine Facility, $750,000.00 plus Default Expenses, and (c) with respect to the Bank of America Facility, $2,000,000.00 plus Default Expenses.

Permitted Indebtedness. Means (i) any Indebtedness of a Maker created in the ordinary course of business; (ii) Indebtedness of a Maker outstanding as of the Issuance Date and the refinancing, renewal or extension thereof; (iii) guarantees of loans from Valliance Bank to Rural Hospital Acquisition, LLC ("RHA") in connection with TISG's acquisition of a membership interest in RHA; and (iv) the SMP Note, the Spector Note and the Waveland Note.