Permitted Indebtedness

Permitted Indebtedness. Means (i) Indebtedness evidenced by this Note and the Other Notes, (ii) Indebtedness set forth on Schedule 3(s) to the Securities Purchase Agreement, as in effect as of the Subscription Date and (iii) Indebtedness secured by Permitted Liens or unsecured but as described in clauses (iv) and (v) of the definition of Permitted Liens

Permitted Indebtedness. Indebtedness incurred by the Company or 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 Required Investors and approved by the Required Investors 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 91 days after the... Maturity Date or later. View More

Permitted Indebtedness. Means (i) Indebtedness evidenced by this Note, (ii) trade payables incurred in the ordinary course of business and consistent with past practice, and (iii) unsecured 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.

Permitted Indebtedness. Means (i) Indebtedness evidenced by this Note and the Other Notes, (ii) Indebtedness evidenced by any Subsequent Notes, and (iii) Indebtedness set forth on Schedule 7(a).

Permitted Indebtedness. Is: (a) Borrowers' indebtedness to Bank under this Agreement or any other Loan Document; (b) Indebtedness existing on the Closing Date and shown on the Schedule and renewals and extensions thereof, to the extent that the amount thereof is not increased or the terms thereof are not modified in any material manner; (c) Subordinated Debt; (d) Indebtedness to trade creditors incurred in the ordinary course of business; and (e) ... Indebtedness secured by Permitted Liens. View More

Permitted Indebtedness. Means: (a) Indebtedness existing on the Closing Date and refinancings, renewals and extensions of any such Indebtedness if the average life to maturity thereof is greater than or equal to that of the Indebtedness being refinanced or extended and if the principal amount thereof is not increased; (b) Deferred taxes; (c) Guaranties by any Subsidiary of any "Permitted Indebtedness" of the Company or another Subsidiary; and (d) Indebtedness of the... Company to any Subsidiary and Indebtedness of any Subsidiary to another Subsidiary which constitutes "Permitted Indebtedness". View More

Permitted Indebtedness. Means: a. Indebtedness of Borrower in favor of Bank arising under this Agreement or any other Loan Document; 3 LOAN AND SECURITY AGREEMENT (ACCOUNTS AND INVENTORY) b. Indebtedness existing on the date of closing and disclosed in the Schedule; c. Indebtedness 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; and d. Subordinated Debt; View More

Permitted Indebtedness. Means (a) the Indebtedness existing on the date hereof and set forth on Schedule 3.1(aa) attached to the Purchase Agreement, (b) capital lease obligations, construction or improvement financing and purchase money indebtedness incurred in connection with the acquisition, construction or improvement of capital assets and capital lease obligations with respect to newly acquired, improved or leased assets (provided, that immediately following any such... transaction, the pro forma consolidated total Indebtedness of the Company and its subsidiaries to their consolidated Total Asset ratio is not more than 0.75 to 1); (c) up to $[___________ of additional Indebtedness, in the aggregate, incurred by the Company and the Guarantors in connection with raising capital for the acquisition of another entity which is, itself or through its subsidiaries, an operating company in a business synergistic with the business of the Company (by merger, consolidation, the acquisition of all or substantially of the assets of such entity or similar transaction) provided that any Indebtedness incurred under this clause (c) is expressly subordinate to the Debentures pursuant to a written subordination agreement with the Holders that is acceptable to each Holder; (d) the Indebtedness evidenced by other Debentures, provided that the aggregate original principal amount of all Debentures (whenever issued) shall not exceed $___________; (e) up to $ _________ of additional senior Indebtedness, in the aggregate, incurred by the Guarantors from a strategic commercial lender pursuant to a strategic commercial agreement; or (f) any continuation, extension, renewal, modification, refinancing or replacement of any such Permitted Indebtedness on overall terms that are generally no less favorable than those applicable to the existing Permitted Indebtedness. View More

Permitted Indebtedness. Shall mean and include the following: (i) indebtedness to trade creditors incurred in the ordinary course of business, (ii) indebtedness secured by Permitted Liens, (iii) any refinancings, modifications, amendments and restatements of the BOI Facility or Senior Creditors Indebtedness, (iv) a revolving or factoring credit facility of up to $5,000,0000 ("REVOLVING FACILITY").

Permitted Indebtedness. Shall mean (a) Indebtedness of Obligor or any of its Subsidiaries (i) in favor of Bank arising under the Credit Agreement and (ii) in favor of Agent and Guarantors arising under this Agreement or any other Operative Document; (b) Indebtedness existing on the date hereof and disclosed on Schedule 1 hereto; and (c) Indebtedness secured by a Lien that is otherwise permitted pursuant to subsections (vi), (vii) or (viii) of the definition of "Permitted Lien."