Restriction on Indebtedness. The Borrower will not create, incur, assume or have outstanding any indebtedness for borrowed money (including capitalized leases) except (i) any indebtedness owing to the Bank and its affiliates, and (ii) any other indebtedness outstanding on the date hereof, and shown on the Borrower's financial statements delivered to the Bank prior to the date hereof, provided that such other indebtedness will not be increased.
Restriction on Indebtedness. Create, incur, assume, or have outstanding any indebtedness for borrowed money except:
Restriction on Indebtedness. Borrower will not create, incur, assume or have outstanding any indebtedness for borrowed money (including capitalized leases) except:
Restriction on Indebtedness. No Borrower will create, incur, assume or have outstanding any indebtedness for borrowed money (including capitalized leases) except Permitted Indebtedness. “Permitted Indebtedness” means, with respect to any Borrower (i) any indebtedness owing to Bank, (ii) any other indebtedness outstanding on the date hereof and disclosed on Schedule 5.7, (iii) Debt incurred for the acquisition of services, supplies or inventory on normal trade credit in the ordinary course of business, (iv) indebtedness under the Lithia Loan Agreement, (v) indebtedness incurred under any Supplemental Floor Plan Facility, (vi) Subordinated Debt; (vii) reimbursement obligations under corporate credit cards incurred in the ordinary course of business in an aggregate amount outstanding not to exceed $300,000 at any time; (viii) reimbursement obligations with respect to letters of credit issued as security for any Borrower’s dealers licenses; provided that the reimbursement obligations for such letters of credit shall not exceed $500,000 in the aggregate at any time, (ix) reimbursement obligations with respect to letters of credit issued as security for any Borrower’s obligations under leases of real property; provided that the reimbursement obligations for such letters of credit shall not exceed $500,000 in the aggregate at any time, (x) indebtedness secured by purchase money liens permitted by clause (n) of the definition of “Permitted Liens” set forth in Section 5.25 of this Agreement in an aggregate amount not exceeding $300,000 outstanding at any time; (xi) extensions, refinancings, modifications, amendments and restatements of any item of indebtedness permitted under clauses (i) through (xi) above, provided that the principal amount thereof is not increased; (xii) indebtedness owing to any Borrower by any other Borrower or to Shift Finance, LLC; (xiii) indebtedness appearing as a claims reserve (or similar term) on the balance sheet of STI and its Subsidiaries, which represents amounts which have been received but which will be expended to pay warranty, return and service claims by customers of STI; and (xiv) other indebtedness in an aggregate amount not exceeding $500,000 outstanding at any time.
Restriction on Indebtedness. Create, incur, assume, suffer to exist, have outstanding or in any manner become liable in respect of any indebtedness for money other than 107 the Obligations or indebtedness incurred in the ordinary course of the business of the Borrower for necessary materials and services.
Restriction on Indebtedness. The Borrower shall not incur any Indebtedness other than (i) the Indebtedness pursuant to this Agreement, (ii) Permitted Seller Acreage Purchase Financing, and (iii) as to all other Indebtedness, in an aggregate amount that does not exceed $50,000 at any one time outstanding.
Restriction on Indebtedness. The Company covenants that it will not, and will not permit any of its Subsidiaries to, incur, create, or assume any Indebtedness other than the following:
Restriction on Indebtedness. Without the prior written consent of SWC, such consent not to be unreasonably withheld or delayed, Primero and its Subsidiaries shall not incur Financial Indebtedness (other than indebtedness in respect of the VAT Financing and the Convertible Note) of more than $50,000,000 in aggregate on a consolidated basis, whether directly or indirectly, and including Financial Indebtedness incurred as a result of: (i) a consolidation, amalgamation with, or merger with or into, any other person; (ii) a reorganization, reincorporation or reconstitution into or as another entity; (iii) the acquisition of any person, assets, property or undertaking; or (iv) a Change of Control of Primero; provided, that, such consent will not be required from and after the third anniversary of the Reference Date if the following conditions are satisfied in full as of the date of the incurrence of such proposed Financial Indebtedness (the “Proposed Indebtedness”):
Restriction on Indebtedness. Create, incur, assume or have outstanding any indebtedness except:
Restriction on Indebtedness. The Borrowers will not have or incur any Indebtedness, except:
