Permitted Intercompany Indebtedness

Permitted Intercompany Indebtedness. Means unsecured Indebtedness incurred under the PBERA, the Management Services Agreement or any other management services agreement with the Company or PAVmed as a result of the Company or PAVmed permitting the accrual of management services fees or other amounts due thereunder, or any other Indebtedness of any of the Company's Subsidiaries owed to the Company, provided that in the case of any such Indebtedness that is owed to the Company by one of its Subsidiaries, such Indebtedness is pledged... to secure, and is subordinated to, the Company's obligations under the Notes. View More