Senior Secured Indenture Limit

Senior Secured Indenture Limit. Shall mean, at any time, eighty percent (80%) of the Accounts of Borrower and its Restricted Subsidiaries (as defined in the Senior Secured Indenture) (net of allowances for doubtful accounts and excluding receivables due from Affiliates (as defined in the Senior Secured Indenture)) determined in accordance with GAAP (as defined in the Senior Secured Indenture) at such time; provided, that, in no event shall the Senior Secured Indenture Limit at any time exceed the maximum amount of... Indebtedness which the Senior Secured Indenture permits to be incurred under the Loan Agreement at such time. View More