Permitted Indebtedness

Permitted Indebtedness. Means (i) the Loans and other Obligations (including for the avoidance of doubt, the Existing PFG Loans, as described in the Schedule); and (ii) Indebtedness existing on the date hereof and shown on Exhibit A hereto; (iii) Subordinated Debt; (iv) Indebtedness owing to the Bridge Lenders under the Bridge Notes, so long as such Indebtedness is subordinated to the Obligations; (v) other Indebtedness secured by Permitted Liens; (vi) reimbursement obligations in respect of... letters of credit in an aggregate face amount outstanding not to exceed $300,000 at any time outstanding, which have been reported to PFG in writing. View More

Permitted Indebtedness. Is: (a) Borrower's indebtedness to Bank under this Agreement, any other Loan Document or under the Existing Loan Agreements; (b) Indebtedness existing on the Closing Date and shown on Schedule 1; (c) Subordinated Debt; (d) Indebtedness to trade creditors incurred in the ordinary course of business; (e) Indebtedness secured by Permitted Liens; (f) Indebtedness incurred by Subsidiaries of Borrower organized and doing business in Europe in an aggregate... amount not to exceed $500,000 in the aggregate or an equivalent amount in the applicable local monetary unit; (g) A guaranty by the Borrower of the Indebtedness described in clause (f) above and limited, in any event, to an aggregate amount of no more than $500,000 or an equivalent amount in the applicable local monetary unit where the underlying Indebtedness is incurred; (h) The indebtedness represented by the Philips Guaranty. View More

Permitted Indebtedness. Shall have the meaning given to that term in the Guarantor Loan Agreement.

Permitted Indebtedness. Means up to $5,000,000 of senior Indebtedness, whether or not secured, that may be incurred by the Company or any Subsidiary from time to time hereafter, and any deferrals, renewals or extensions of any such Indebtedness and notes or other instruments or evidences of Indebtedness issued in respect of or in exchange for any such Indebtedness or any funding to pay or replace any such Indebtedness or credit.

Permitted Indebtedness. Means: (a) Indebtedness of Borrower or any of its Subsidiary in favor of Lender arising under this Note or any other Loan Document; (b) Indebtedness to trade creditors incurred in the ordinary course of business; and (c) Indebtedness not to exceed $250,000.00, 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 at the time it is... incurred the lesser of the cost or fair market value of the property financed with such Indebtedness. View More

Permitted Indebtedness. Means (i) any Indebtedness of TISG or its subsidiaries created in the ordinary course of business; (ii) Indebtedness of TISG or its subsidiaries outstanding as of the Issuance Date and the refinancing, renewal or extension thereof; and (iii) the Bridge Financing, which financing shall not exceed $2,000,000.00 in the aggregate.

Permitted Indebtedness. The meaning specified in the Notes with the existing Permitted Indebtedness on Schedule I hereto

Permitted Indebtedness. The following: (a) Borrower's indebtedness to Silicon under this Agreement or the Loan Documents; (b) indebtedness existing on the date hereof which is disclosed in writing to Bank in the Representations; (c) Subordinated Debt; (d) indebtedness incurred after the date hereof not to exceed $50,000 in the aggregate in any fiscal year of Borrower secured by a lien described in clause (i) of the defined term Permitted Liens; (e) indebtedness to trade creditors incurred in the ordinary course of... business; (f) indebtedness secured by Permitted Liens; and (g) 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 Borrower View More

Permitted Indebtedness. Means (a) the indebtedness evidenced by the Notes, (b) the Indebtedness existing on the Original Issue Date and set forth on Schedule 3.01(bb) attached to the Purchase Agreement, (c) lease obligations and purchase money indebtedness of up to $3,000,000, in the aggregate, incurred in connection with the acquisition of capital assets and lease obligations with respect to newly acquired or leased assets used in manufacturing the Company's and its Subsidiaries' products, (d) indebtedness that (i)... is expressly subordinate to the Notes pursuant to a written subordination agreement with the Holders that is acceptable to each Holder in its sole and absolute discretion and (ii) matures at a date later than the 91st day following the Maturity Date, (e) financing for premiums on general business or director and officer insurance up to $3 million per calendar year, and (f) the Subordinated Debt. View More

Permitted Indebtedness. Has the meaning assigned in the Notes.