Permitted Indebtedness

Permitted Indebtedness. Is: (1) Debtor's Indebtedness to the Secured Party under the Note or this Agreement; (2) Indebtedness existing as of the date hereof and shown on Schedule B attached hereto; (3) Indebtedness to trade creditors incurred in the ordinary course of business; and (4) other Indebtedness of the Debtor and its subsidiaries consisting of capital lease obligations or purchase money security obligations secured only by Liens permitted under clause (d) of... the definition of "Permitted Liens," in an aggregate principal amount not in excess of $15,000,000 at any one time outstanding; (5) Indebtedness that is subordinated to Debtor's Indebtedness to the Secured Party, pursuant to subordination provisions satisfactory to the Secured Party. 2 View More

Permitted Indebtedness. Is: (a) Borrower's indebtedness to Silicon under this Agreement or any other Loan Document; (b) Indebtedness existing on the Closing Date and shown on Schedule 2; (c) Subordinated Debt; (d) Indebtedness to trade creditors incurred in the ordinary course of business; (e) Indebtedness secured by Permitted Liens, (f) indebtedness to employees for expense advances and other indebtedness to employees in the ordinary course of business, and (g) taxes not yet due. -12- Silicon Valley Bank ... Loan and Security Agreement View More

Permitted Indebtedness. Means: (a) Unsecured Indebtedness existing on the Closing Date and refinancings, renewals and extensions of any such Indebtedness if (i) the average life to maturity thereof is 4 greater than or equal to that of the Indebtedness being refinanced or extended (ii) the principal amount thereof or interest payable thereon is not increased, and (iii) 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) Secured Indebtedness to a bank or other institutional lender on terms and conditions satisfactory to the Majority Holders; provided, however, that the aggregate principal amount of Indebtedess permitted pursuant to this clause (b) shall not exceed $5,000,000; (c) Unsecured Indebtedness which ranks pari passu with the Notes as to payment or upon liquidation with the Notes; provided, however, that the aggregate principal amount of Indebtedess permitted pursuant to this clause (c) and clause (d) below shall not exceed $1,000,000; (d) Indebtedness representing the deferred purchase price of property and capital lease obligations ; provided, however, that the aggregate principal amount of Indebtedess permitted pursuant to this clause (d) and clause (c) above shall not exceed $1,000,000; (e) Guaranties by any Subsidiary of any "Permitted Indebtedness" of the Company or another Subsidiary; and (f) 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. Is: (a) Borrower's indebtedness to Silicon under this Agreement or any other Loan Document; (b) Indebtedness existing on the date hereof and shown on the Schedule; (c) Subordinated Debt; (d) Indebtedness to trade creditors incurred in the ordinary course of business; (e) Indebtedness arising form the endorsement of instruments in the ordinary course of business; (f) Indebtedness secured by Permitted Liens; and (g) Extensions, refinancings, modifications, amendments and... restatements of any items of Permitted Indebtedness described in (a) through (e) above, provided that the principal amount thereof is not increased and the terms there of are not modified in any manner which is more burdensome on the Borrower. View More

Permitted Indebtedness. Shall have the meaning ascribed to such term in the Certificate of Designations (as in effect on the date hereof).

Permitted Indebtedness. Means Indebtedness evidenced by this Note and the Other Notes, and (ii) Indebtedness secured by Permitted Liens or unsecured but as described in clauses (iv) and (v) of the definition of Permitted Liens.

Permitted Indebtedness. Means (a) Indebtedness outstanding as of the Original Issue Date, (b) the indebtedness evidenced by the Notes, (c) capital lease obligations and purchase money indebtedness incurred in connection with the acquisition of machinery and equipment , and (d) indebtedness that is expressly subordinate to the Notes pursuant to a written subordination agreement with the Purchasers that is acceptable to each Subscriber in its sole and absolute discretion.

Permitted Indebtedness. Means (i) Indebtedness evidenced by this Note (ii) Indebtedness set forth on Schedule 3(s) to the Securities Purchase Agreement, as in effect as of the Subscription Date, (iii) Indebtedness secured by Permitted Liens or unsecured but as described 916350014 in clauses (iv) and (v) of the definition of Permitted Liens, (iv) Indebtedness issued to FH Capital Investments and/or Affiliates thereof, or any other lender(s) selected by the Company (each, a "New Lender" and, collectively,... the "New Lenders"), in the form of promissory notes in an aggregate principal amount of up to $25,000,000 (the "New Investment"), (v) Indebtedness issued to the Holder and/or Affiliates thereof in an aggregate principal amount of up to $5,000,000, (vi) surety bonds issued in the ordinary course of business, and (vii) performance letters of credit entered into in the ordinary course of business. View More

Permitted Indebtedness. Means (i) Indebtedness evidenced by this Note and the other Notes, (ii) Indebtedness described in clauses (iv) and (v) of the definition of Permitted Liens, (iii) Permitted Insurance Indebtedness, and (iv) Permitted Intercompany Indebtedness.

Permitted Indebtedness. Shall mean: (a) the obligations under this Note; (b) Indebtedness that is expressly subordinated to the Obligations pursuant to a subordination agreement in form and substance satisfactory to Investor; (c) Indebtedness consisting of the endorsement of negotiable instruments for deposit or collection of similar transaction in the ordinary course of business; (d) Indebtedness arising from judgments not constituting an Event of Default; (e) Indebtedness consisting of customer deposits and advance... payments received in the ordinary course of business; (f) unsecured trade debt in the ordinary course of business; and (g) other Indebtedness in an aggregate principal amount of up to $25,000 at any time outstanding. View More