Bank Indebtedness. The grant of a security interest in any accounts receivable of the Borrower or any of its Restricted Subsidiaries to secure Bank Indebtedness shall not be deemed a Qualified Receivables Transaction.
Bank Indebtedness. The Stockholders hereby represent to LandCare that the aggregate outstanding balance of the Company's indebtedness to NationsBank as of July 31, 1998 was not more than $1,678,000 (the "NationsBank Debt"). As promptly as practicable after the Closing, and in any case within three business days after Closing, LandCare shall cause the Company to repay the NationsBank Debt, plus any and all costs, expenses and fees associated with the termination of such credit facility, and shall cause the prompt release of any and all liens and guaranties securing such debt.
Bank Indebtedness. The Shareholders shall have either (i) furnished evidence satisfactory to the Purchaser that all outstanding Bank Indebtedness of the Company has been repaid in full or (ii) requested Purchaser apply that portion of the purchase price to be paid at the Closing to the repayment in full of all outstanding Bank Indebtedness.
Bank Indebtedness. The Loans and other Obligations under the Loan Documents collectively constitute “Bank Indebtedness” under and as defined in the Subordinated Note Documents and “Senior Indebtedness” under and as defined in the Holdings Subordinated Note Documents, and will constitute designated senior indebtedness under, and be entitled to the benefit of the subordination provisions of, the documentation relating to any Additional Subordinated Debt or any Additional Seller Notes.
Bank Indebtedness. 8 SECTION 3.12 Litigation................................................. 8 SECTION 3.13
Bank Indebtedness. The Bank does not have any indebtedness ("Bank Indebtedness") other than deposits.
Bank Indebtedness. 46- Business Day......................................................-46-
Bank Indebtedness. 33 6.8 Release of GTS Obligation......................................... 33
Bank Indebtedness. Stonepath shall have furnished evidence satisfactory to the Purchaser that the Company has been released for liability from all Bank Indebtedness.
Bank Indebtedness. The Company has the following credit facilities: A UK credit facility allowing for an operating line of credit of 161,000 (90,000 GBP) was extended by the UK Bank. A Canadian credit facility requires the Canadian subsidiary to comply with certain financial covenants. As at July 31, 2006, the Canadian subsidiary was not in compliance therewith.
