Permitted Indebtedness

Permitted Indebtedness. Means (i) indebtedness evidenced by the Note and the Secured Note (ii) indebtedness existing as of the closing date, (iii) intercompany indebtedness, (iv) indebtedness for intercompany loans, (v) indebtedness in an amount not to exceed $100,000, and (vi) indebtedness in connection with the Spartan Financing.

Permitted Indebtedness. The Loan and the other indebtedness of the Company that is permitted under the Loan Documents.

Permitted Indebtedness. Means and includes: (i) Indebtedness of Debtor to Secured Party, (ii) Additional Indebtedness arising from the endorsement of instruments in the ordinary course of business, (iii) Additional Indebtedness existing on the date hereof and set forth in Schedule B, (iv) Subordinated Indebtedness, (v) Indebtedness between and among Ironwood and Microbia and any other affiliates thereof, (vi) Additional Indebtedness not to exceed $1 million dollars in the aggregate at any given time (vii)... Indebtedness secured by Permitted Liens; (vii) existing Indebtedness with Secured Party to secure the financing of specific equipment not to exceed $2,000,000 to be assigned by Secured Party to Webster Bank. View More

Permitted Indebtedness. Means (a) the indebtedness evidenced by the Notes, (b) the ndebtedness existing on the Original Issue Date, (c) lease obligations and purchase money indebtedness of up to $100,000, in the aggregate, incurred in connection with the acquisition of capital assets and lease obligations with respect to newly acquired or leased assets, (d) up to $2,500,000, in the aggregate, of additional non-equity linked indebtedness incurred by the Company it being understood, that in the case of this clause (d),... such transactions shall not have any equity components of any nature and the Company must provide the Holder with a written subordination agreement with respect to such additional Indebtedness, which agreement shall be reasonably satisfactory to the Holder and (e) indebtedness incurred in connection with an issuance or issuances contemplated by clause (d) under the definition of Exempt Issuance (as defined in the Note). Notwithstanding anything herein to the contrary, in no event shall any indebtedness be "Permitted Indebtedness" if such incurrence causes the Current Ratio (as used under GAAP) of the Company and its Subsidiaries on a consolidated basis to be less than 1.0. View More

Permitted Indebtedness. Means and includes: (i) Indebtedness of Debtor to Secured Party, (ii) Additional Indebtedness arising from the endorsement of instruments in the ordinary course of business, and (iii) Subordinated Indebtedness.

Permitted Indebtedness. Means and includes: (i) Indebtedness of Debtor to Secured Party, (ii) Additional Indebtedness arising from the endorsement of instruments in the ordinary course of business, (iii) Additional Indebtedness existing on the date hereof and set forth in Schedule B and any extension, renewal or refinancing thereof, and further subject to the limitations set forth in clause (vi) below, (iv) Subordinated Indebtedness, (v) Additional Indebtedness secured by Liens permitted under clause (vi) of the... definition of Permitted Liens, (vi) Debtor's revolving credit facility with Silicon Valley Bank that is the subject of that certain Loan and Security Agreement ("SVB Revolver Agreement") dated as of August 20, 2002, as amended between Debtor and Silicon Valley Bank or any refinancing thereof with another lender, but only to the extent that the principal amount outstanding under the SVB Revolver Agreement does not at any time exceed $15,000,000, and (vii) any future debt obligations incurred by Debtors' subsidiary, Athena Net India Private Limited, but only to the extent that the principal amount outstanding does not exceed US$500,000. View More

Permitted Indebtedness. Means and includes: (1) Indebtedness of Borrower to Lender; (2) Indebtedness arising from the endorsement of instruments in the ordinary course of business; (3) Indebtedness existing on the date hereof and disclosed in the Schedule of Exceptions to the Credit Agreement; (4) Indebtedness of Borrower which is subordinated to the Indebtedness of Borrower under this Note; and which is in an aggregate original principal amount not to exceed $250,000 at any time and (5) Extensions, refinancings,... modifications, amendments and restatements of any items of Permitted Indebtedness above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower. View More

Permitted Indebtedness. Means (i) the Indebtedness outstanding on the date of this Agreement, (ii) Indebtedness evidenced by this Note and the Other Notes, and (iii) unsecured Indebtedness incurred by the Company that is subordinate in right of payment to the Indebtedness evidenced by this Note.

Permitted Indebtedness. Capital leases and purchase money Indebtedness in an aggregate amount not to exceed $20,000,000.00 at any one time outstanding

Permitted Indebtedness. (i) Indebtedness of the Parent under this Note and/or any other Transaction Document, (ii) Indebtedness of the Parent set forth on Schedule 3(q) to the Securities Purchase Agreement, as in effect as of the Subscription Date, (iii) Indebtedness of the Parent incurred pursuant to accounts receivable and/or inventory financing, provided such is secured it is secured solely by the accounts receivable and/or inventory of the Company (iv) Indebtedness incurred for the acquisition of services,... supplies or inventory of the Parent on normal trade credit in the ordinary course of business; (v) Indebtedness of the Parent secured by Permitted Liens or unsecured as described in clauses (iv) and (v) of the definition of Permitted Liens, (vi) $1,400,000 of Indebtedness owed to Dentons USA LLP (Dentons) under terms of a settlement and release agreement dated May 11, 2017 by and between Dentons and the Parent (the Dentons Settlement Agreement), and (vii) Intercompany Indebtedness of the Parent (to the extent not prohibited by the Sanofi Documents) between the Parent, ICA-T and any wholly-owned Domestic Subsidiary of the Parent, to the extent so permitted under this Note View More