Permitted Indebtedness Definition Example with 4 Variations

Permitted Indebtedness. Means (A) means (i) 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 reasonably acceptable to the Holder and approved by the Holder in writing (which approval shall not be unreasonably delayed), writing, and which Indebtedness does not provide at any time for (1) (A) 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) (B) total interest and fees at a rate in excess of the Interest Rate hereunder, (B) ten percent (10%) per annum, (ii) Indebtedness secured by Permitted Liens, (C) (iii) Indebtedness to trade creditors or for professional services incurred in the ordinary course of business, (D) (iv) any Indebtedness owing under the Note, and (v) extensions, refinancings and renewals of any items of Permitted Indebtedness, Indebtedness described in clauses (i) through (iv) above, provided that the principal amount is not increased or the terms modified to impose more burdensome terms upon the Company or its subsidiary, 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. be. View More

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, and (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, Subsidiary, as the case may be, (E) provided that no such Indebtedness outstanding on the Issuance Date and as disclosed in Schedule 28(o) hereto, and (F) clauses (A), (B), (C) or (D) shall include Indebtedness that is convertible into shares of the Company Company's Common Stock or any subsidiary thereof, in addition to that described in clauses (A) through (E) into securities ultimately convertible into shares 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. Company's Common Stock. View More

Permitted Indebtedness. Means (A) means (i) Indebtedness evidenced by this Note and the Other Notes, (ii) other unsecured Indebtedness incurred by the Company and/or any of its Subsidiaries 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), writing, and which Indebtedness does not provide at any time for (1) (A) 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) (B) total interest and fees at a rate in excess of the maximum applicable Interest Rate hereunder, (B) (iii) Indebtedness secured by Permitted Liens, (C) (iv) Indebtedness to trade creditors incurred in the ordinary course of business, (D) business and not outstanding for more than 120 days after the date such payable was created, and (v) 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, 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. be. 9 View More

Permitted Indebtedness. Means means (A) Indebtedness incurred by the Company Maker that is made expressly subordinate in right of payment and priority to the Indebtedness evidenced by this Note, as reflected in a written agreement acceptable to the Holder Payee and approved by the Holder Payee 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) 91 days after the Maturity Date or later 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, and (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 Maker or its subsidiary, 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. be. View More