Permitted Indebtedness

Permitted Indebtedness. (i) this Note, (ii) the Senior Debt, (iii) the Future Permitted Senior Debt up to 5 mm; and (iv) reasonable unsecured trade indebtedness incurred in the ordinary course of the Company's business.

Permitted Indebtedness. (i) the Senior Credit Obligations, which obligations shall at all times be subject to the Intercreditor Agreement, (ii) Indebtedness of subsidiaries of the Maker to the Maker, (iii) other Indebtedness described on Schedule 1 hereto, and (iv) Indebtedness renewing, extending the maturity of or refunding or refinancing in whole or in part Indebtedness otherwise permitted hereunder.

Permitted Indebtedness. Means: (a) The Company's indebtedness to the Purchasers under this Agreement and the Loan Documents; (b) Equipment financing not to exceed $1.0 million and secured only by the financed equipment; (c) Unsecured indebtedness to trade creditors incurred in the ordinary course of business; (d) Indebtedness existing on the Effective Date more particularly described below: (i) Indebtedness pursuant to that certain Loan and... Security Agreement No. 4521, dated March 28, 2005, by and between the Company and Lighthouse Capital Partners V, L.P., as amended (the "Lighthouse Agreement"), in the principal amount not to exceed $6,357,335; and (ii) Indebtedness pursuant to that certain Loan Agreement, dated December 31, 2008, by and between the Company and Oxford Financial Corporation (the "Oxford Agreement") in the principal amount not to exceed $542,815; (e) Such other indebtedness as is approved by the Majority Holders; or (f) extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (e) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon the Company. View More

Permitted Indebtedness. Has the meaning given it in the Purchase Agreement.

Permitted Indebtedness. Is: (a) Borrower's indebtedness to Bank 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 incurred in the ordinary course of business; (e) Overdraft facilities at banks not located in the United States, provided, however, the credit availability for all such facilities shall... not to exceed US$1,000,000.00 in the aggregate; (f) Indebtedness secured by Permitted Liens; and (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 Borrower or its Subsidiary, as the case may be. 17 View More

Permitted Indebtedness. Is: (a) Borrower's indebtedness to Bank 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; and (e) Indebtedness secured by Permitted Liens; (f) Indebtedness arising in connection with the Put-Call Agreement, provided that performance of the Borrower's obligations to repurchase securities thereunder is limited to the... permitted transactions under Section 7.6 hereof; and 18 (g) Indebtedness arising in the extension, renewal or refinancing of the indebtedness described in (a), (b), (d), (e) and (f), provided that the principal amount of the indebtedness may not increase and the associated terms shall not be more burdensome on Borrower. View More

Permitted Indebtedness. Means: (i) Indebtedness of the Company existing on May 10, 2007 as set forth on Schedule A (it being understood that any Indebtedness of the Company existing on May 10, 2007 shall constitute Permitted Indebtedness whether or not listed on Schedule A), and any renewals, refinancings, replacements and extensions thereof; so long as (A) the principal amount of such Indebtedness does not exceed the principal amount being renewed, refinanced, replaced or extended plus an amount necessary to pay any... fees and expenses related thereto, (B) such Indebtedness does not contain covenants or other restrictions materially more onerous than those contained in the Indebtedness being renewed, refinanced, replaced or extended, and (C) the average life to maturity thereof is greater than or equal to that of the Indebtedness being renewed, refinanced, replaced or extended; (ii) other unsecured Indebtedness of the Company or any of its Subsidiaries in an aggregate principal amount at any time outstanding not to exceed $2,000,000; (iii) Indebtedness of the Company or any of its Subsidiaries secured by Liens described in clauses (vi) and (vii) of the definition of Permitted Liens, so long as (A) at the time when such Indebtedness is incurred, the amount of such Indebtedness does not exceed the fair market value (as reasonably determined by the principal financial officer of the Company in good faith) of the leased property or purchased equipment and (B) the aggregate amount of such Indebtedness does not exceed $500,000 at any time outstanding; (iv) Indebtedness of any Subsidiary of the Company to the Company or another Subsidiary; (v) Indebtedness pursuant to or arising under currency swap agreements or interest rate swap agreements or swap or derivative agreements entered into in connection with bona fide hedging arrangements; (vi) Indebtedness of the Company or any of its Subsidiaries subordinated to the Obligations on terms reasonably satisfactory to the Holder, and having terms and conditions (other than interest and overall yield) more favorable to the Company than the terms and conditions of this Note and the other Transaction Documents (including, without limitation, covenants and events of default more favorable to the Company than the covenants and events of default hereunder), and having redemption, prepayment and defeasance provisions reasonably satisfactory to the Holder, in an aggregate principal amount not to exceed $2,000,000 at any time outstanding less any amounts outstanding pursuant to clause (ii) of this definition of Permitted Indebtedness ("Subordinated Indebtedness"); (vii) Senior Debt; and (viii) the Obligations. View More

Permitted Indebtedness. Means: (a) Indebtedness of Borrower in favor of the Lenders arising under this Loan Agreement or any other Transaction Document; (b) Senior Indebtedness; (c) the Wells Letter of Credit; (d) Indebtedness not to exceed Five Hundred Thousand Dollars ($500,000) 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 and... related software financed with such Indebtedness; (e) Subordinated Debt in an aggregate amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000) at any time outstanding; (f) Indebtedness to trade creditors incurred in the ordinary course of business; 17 (g) Indebtedness arising from the endorsement of instruments in the ordinary course of business; and (h) Extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through (g) above, provided that (i) 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, (ii) the Interest rate margins or any fixed Interest rates on such Indebtedness are not increased, (iii) restrictions are not added on the ability of the Borrower to repay the Advance, other than those in effect on the date hereof, (iv) the final maturity date of the Indebtedness is not extended to a date beyond the Maturity Date or (v) the amortization of any portion of the Senior Indebtedness is not shortened. View More

Permitted Indebtedness. Means (i) Permitted Senior Indebtedness, (ii) 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, (iii) Indebtedness secured by Permitted Liens, (iv) Indebtedness to trade creditors incurred in the ordinary course of business, (v) Indebtedness not otherwise included as Permitted Indebtedness under any... other clause of this definition (which Indebtedness for purposes hereof may not be extended, renewed or refinanced in amounts greater than the amounts outstanding immediately prior to the Subscription Date) reflected in the SEC Reports (as such term is defined in the Securities Purchase Agreement); provided that the aggregate amount of such Indebtedness set forth in clause (v) does not exceed $3,000,000 as of the Subscription Date, (vi) additional unsecured Indebtedness not to exceed $1,000,000 in aggregate principal amount at any time outstanding, and (vii) 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. View More

Permitted Indebtedness. (i) Indebtedness, the aggregate principal amount of which incurred and outstanding (other than pursuant to this Note) shall not exceed $2 million at any time and that is made expressly subordinate in right of payment to the Indebtedness evidenced by this Note pursuant to subordination provisions satisfactory to the Holder (such Indebtedness, the "Subordinated Indebtedness"); (ii) Indebtedness secured by Liens permitted under clause (d) of the definition of Permitted Liens, (iii) Indebtedness... under this Note; (iv) Indebtedness payable to any Company or any U.S. Subsidiary thereof; provided, however, that such Indebtedness is expressly subordinated to the prior payment in full in cash of this Note; and (v) Indebtedness existing as of the date hereof and set forth on Schedule 3(s) hereto ("Existing Indebtedness"); 17 View More