Permitted Indebtedness

Permitted Indebtedness. Total Indebtedness of the Company and the Subsidiaries not to exceed $250,000 in the aggregate outstanding at any time.

Permitted Indebtedness. The Indebtedness permitted pursuant to Paragraph 14

Permitted Indebtedness. Has the meaning assigned to it in the Certificate of Designation.

Permitted Indebtedness. (i) Indebtedness evidenced by this Note and the Other Notes, (ii) Indebtedness set forth on Schedule 3(q) to the Securities Purchase Agreement, as in effect as of the Subscription Date, (iii) Indebtedness secured by Permitted Liens or unsecured but as described in clauses (iv) and (v) of the definition of Permitted Liens, and (iv) up to an aggregate of $100,000 of Indebtedness incurred in the ordinary course of business in a manner and to an extent consistent with past practice and necessary or... desirable for the prudent operation of the Company's business View More

Permitted Indebtedness. (i) Indebtedness evidenced by this Note, (ii) Indebtedness secured by Permitted Liens or unsecured but as described in clauses (iv) and (v) of the definition of Permitted Liens, (iii) Permitted Senior Indebtedness and (iv) Indebtedness set forth on Schedule 2.15(iii) to the Exchange Agreement

Permitted Indebtedness. (i) Indebtedness evidenced by this Note and the Other Notes, (ii) Indebtedness set forth on Schedule 24(q) attached hereto, as in effect as of the Subscription Date; (iii) Indebtedness secured by Permitted Liens or unsecured but as described in clauses (iv) and (v) of the definition of Permitted Liens; (iv) indebtedness incurred for the purchase of goods or services on normal trade credit; (v) other unsecured indebtedness in an amount not exceeding $100,000 outstanding at any time; and (vi)... Permitted Senior Indebtedness secured by Permitted Senior Collateral View More

Permitted Indebtedness. (a)Borrower's Indebtedness to Bank under this Agreement and the other Loan Documents; (b)Indebtedness existing on the Effective Date which is shown on the Perfection Certificate; (c)Subordinated Debt; (d)unsecured Indebtedness to trade creditors or unsecured Indebtedness incurred in connection with credit cards, in each case incurred in the ordinary course of business; (e)Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business;... (f)Indebtedness secured by Liens permitted under clauses (a) and (c) of the definition of "Permitted Liens" hereunder; (g)unsecured Indebtedness which by its terms is convertible into equity securities of Borrower (the "Permitted Convertible Debt") provided that (i) the aggregate principal amount of the Permitted Convertible Debt shall not exceed Two Hundred Million Dollars ($200,000,000.00) at any time outstanding (ii) no scheduled principal payments may be made with respect to the Permitted Convertible Debt, and (iii) if a default or an event of default (however defined) occurs under the Permitted Convertible Debt ("Permitted Convertible Debt Default"), all outstanding liabilities and obligations of Borrower to Bank shall immediately be repaid in full; (h)Indebtedness incurred in the ordinary course of business under performance, surety, statutory, or appeal bonds in an aggregate principal amount not to exceed One Hundred Thousand Dollars ($100,000.00) in any fiscal year; (i)Indebtedness consisting of Permitted Investments; (j)overdrafts paid within ten (10) days; (k)Indebtedness (i) consisting of the obligation to pay rent when due under real property leases entered into in the ordinary course of Borrower's business and (ii) incurred solely in connection with deposits for real property in the ordinary course of business; (l)reimbursement obligations in respect of letters of credit in the aggregate amount not to exceed Five Hundred Thousand Dollars ($500,000.00) outstanding at any time; (m)other unsecured Indebtedness not otherwise permitted by Section 7.4 not exceeding Two Hundred Fifty Thousand Dollars ($250,000.00) in the aggregate outstanding at any time; and (n)extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (m) 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. Letters of credit issued by non-Affiliates of the Loan Parties in an amount not to exceed $10,000,000 at any time outstanding; provided that (i) such letters of credit shall bear fees or interest not in excess of then applicable market rates with a combined maximum rate of 5% of the applicable available amount of the applicable letter of credit (for the avoidance of doubt, up to a maximum amount of 5% of $10,000,000), (ii) such letters of credit shall not provide for any cash payments,... prepayments, repayments or redemptions (and no such cash payments, prepayments, repayments or redemptions shall be made) for interest, fees, premiums or other non-principal amounts at any time that aggregate more than 5% of the applicable available amount of the applicable letter of credit (for the avoidance of doubt, up to a maximum amount of 5% of $10,000,000), (iii) in the case of all such letters of credit (taken as a whole) issued and outstanding in an aggregate principal amount in excess of $5,000,000, such letters of credit that would cause the total amount of issued and outstanding unsecured letters of credit to exceed $5,000,000 shall be subordinated (including payment subordination) in a manner reasonably acceptable to the Agent and the Lenders, and (iv) all such letters of credit shall be unsecured, except to the extent expressly permitted by clause (q) of the definition of ‘Permitted Liens'. View More

Permitted Indebtedness. (a) Indebtedness of Borrower in favor of Lenders arising under this Agreement or any other Transaction Document; (b) Indebtedness not to exceed $150,000 in the aggregate in any fiscal year of Borrower secured by a lien described in clause (c) of the defined term "Permitted Liens;" provided such Indebtedness does not exceed the lesser of the cost or fair market value of the equipment financed with such Indebtedness; (c) Subordinated Debt; and (d) Indebtedness to trade creditors incurred in the... ordinary course of business; (e) Contingent Obligations incurred in the ordinary course of business, including, Indebtedness incurred on Borrower's corporate credit cards; (f) Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; (g) Indebtedness that constitutes a Permitted Investment; (h) other unsecured Indebtedness in an aggregate principal amount outstanding not to exceed Twenty Five Thousand Dollars ($25,000) View More

Permitted Indebtedness. (i) any amounts owing to the Lender by the Borrower; (ii) Master Promissory Note totalling US $1,000,000 at 8% which is comprised of 6 security agreements with an effective date of November 2, 2019, commencing on Feb. 14, 2019 with a maturity date of Feb. 14, 2020; (iii) any Indebtedness which is postponed and subordinated to the Loan to the satisfaction of the Lender; (iv) trade payables and normal accruals of the Borrower in the ordinary course of business not yet due and payable or with... respect to which the Borrower is contesting in good faith the amount or validity thereof by appropriate proceedings and then only to the extent that the Borrower has established adequate reserves therefor, if required under GAAP; (v) reimbursement obligations for reasonable travel and normal course of business expenses; and (vi) any extension, renewal or replacement of the foregoing on equivalent terms View More