Indebtedness Covenant. (a) Until all of the Company's obligations hereunder are paid and performed in full, the Company shall not, without the prior consent of the Investor, incur any Indebtedness other than (i) the obligations incurred hereby or pursuant to the Other Purchase Agreements not exceeding $2,400,000 in principal in the aggregate outstanding at any time, (ii) obligations to Textron Financial Corporation, or its successors or assigns, not exceeding $7,500,000 in principal in the aggregate outstanding at any time, (iii) obligations to Wachovia Bank, N.A., or its successors or assigns, not exceeding $11,000,000 in principal in the aggregate outstanding at any time, and (iv) any other indebtedness not otherwise permitted by this Section 2.5 not exceeding $5,000,000 in principal in the aggregate outstanding at any time.
Appears in 5 contracts
Samples: Note and Warrant Purchase Agreement (Galaxy Nutritional Foods Inc), Note and Warrant Purchase Agreement (Galaxy Nutritional Foods Inc), Note and Warrant Purchase Agreement (Galaxy Nutritional Foods Inc)
