Permitted Indebtedness

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, and (iii) any refinancings, modifications, amendments and restatements of the BOI Facility or Senior Creditors Indebtedness.

Permitted Indebtedness. Means: (i) Indebtedness not in excess of the aggregate principal amount which is outstanding on the Closing Date and which would be reflected on a balance sheet of the Company as of the Closing Date or in the notes thereto prepared in accordance with Generally Accepted Accounting Principles; (ii) Indebtedness of up to $5 million incurred after the Closing Date consisting of (a) equipment lease obligations or other... equipment financings for equipment used in the business of the Company and its Subsidiaries which obligations or financings are required to be capitalized in accordance with Generally Accepted Accounting Principles; and (b) Indebtedness incurred in connection with acquisition of furniture, fixtures and equipment used in the business of the Company and its Subsidiaries, in each such case in an amount not in excess of the purchase price thereof; (iii) Indebtedness that is secured only by real property; and (iv) Indebtedness of up to $5 million that is unsecured. View More

Permitted Indebtedness. Shall have the meaning provided in the Certificate of Determination.

Permitted Indebtedness. Is (a) Borrower's indebtedness to Bank under this Agreement; (b) Indebtedness existing on the date of this Agreement and shown on financial statements of the Borrower previously delivered to the Bank; (c) Subordinated Debt; (d) Indebtedness to trade creditors incurred in the ordinary course of business; (e) Indebtedness secured by Permitted Liens; (f) Other indebtedness not otherwise permitted hereunder... not exceeding $50,000 in the aggregate outstanding at any time; and 3 (g) 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 the Borrower. View More

Permitted Indebtedness. Shall mean all indebtedness of the Borrower in connection with the Indentures and the Secured Investor Certificates.

Permitted Indebtedness. Is: (a) Borrower's indebtedness to the Banks under this Agreement or the Loan Documents; (b) Indebtedness existing on the Closing Date and shown on the Schedule; (c) Subordinated Debt; (d) Indebtedness to trade creditors and with respect to surety bonds and similar obligations incurred in the ordinary course of business; and (e) Indebtedness secured by Permitted Liens;

Permitted Indebtedness. Senior secured Indebtedness (which may have the same lien priority as, or a junior lien priority to, the Obligations) and senior unsecured Indebtedness, and Refinancing Indebtedness in respect thereof; provided that (i) at the time of such incurrence and after giving effect thereto and to the use of the proceeds thereof, no Default or Event of Default shall have occurred and be continuing, (ii) the final maturity of such Indebtedness at the time of incurrence thereof shall be no earlier than... the latest final maturity of the Loans, (iii) the Weighted Average Life to Maturity of such Indebtedness at the time of incurrence thereof shall be no shorter than the remaining Weighted Average Life to Maturity of the Loans, (iv) such Indebtedness shall not constitute an obligation (including pursuant to a guarantee) of any Subsidiary that is not (or, in the case of after-acquired Subsidiaries, is not required to become) a Loan Party hereunder and (v) the obligations in respect thereof shall not be secured by any Lien on any asset of Holdings, the Borrower or any Subsidiary other than any asset constituting Collateral; provided further that, except in connection with any Refinancing Indebtedness, (x) at the time of the incurrence of any senior secured Indebtedness having the same lien priority as the Obligations and after giving effect thereto and to the use of the proceeds thereof, the Consolidated Secured Debt Ratio would not exceed 4.00 to 1.00, and (y) at the time of the incurrence of any senior secured Indebtedness having a lien priority junior to the Obligations or any senior unsecured Indebtedness and after giving effect thereto and to the use of the proceeds thereof, the Borrower shall be in Pro Forma Compliance with the covenants set forth in Section 6.14; View More

Permitted Indebtedness. Means (i) Indebtedness evidenced by this Note and the Other Notes, (ii) Indebtedness described on Schedule 13(b) attached hereto and (iii) Indebtedness secured by Permitted Liens described in clauses (iv) and (v) of the definition of Permitted Liens, in an aggregate amount not to exceed $100,000.

Permitted Indebtedness. Is: (a) Borrower's indebtedness to Lender under this Agreement or any other Loan Document; (b) Indebtedness existing on the Closing Date and shown on the Schedule; (c) Indebtedness to trade creditors incurred in the ordinary course of business; (d) Indebtedness secured by Permitted Liens; and (e) Extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness listed in clauses... (a) and (c) of this definition and Indebtedness described in clause (c) of the Permitted Liens definition, provided that the principal amount thereof is not increased and that the terms thereof are not modified to impose more burdensome terms on the Borrower. View More

Permitted Indebtedness. Means (i) Permitted Bank Debt, (ii) the Argyle Notes, subordinated in accordance the "Argyle Subordination Agreement" (as defined in the Securities Purchase Agreement), (iii) other Indebtedness approved by the Required Holders in writing, and (iv) 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 Required Holders and approved by the Required... Holders in writing, which such consent may not be unreasonably withheld, and which Indebtedness does not provide at any time for (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 (B) total interest and fees at a rate in excess of fifteen percent (15%) per annum. View More