Permitted Indebtedness Clause Examples
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Permitted Indebtedness. The Borrower shall not, and shall not permit any Subsidiary to, create, incur or suffer to exist any Indebtedness, except:
(a) the Obligations;
(b) [intentionally deleted];
(c) Indebtedness existing on the Agreement Date which Indebtedness is described in Schedule 7.1(g) hereto;
(d) Derivatives Contracts entered into in respect of the Obligations;
(e) Indebtedness of a Borrower owed to another Borrower; provided, however, that such Indebtedness is (i) unsecured and (ii) subordinated to the Obligations pursuant to Section 13.25 hereof or, if such Indebtedness is evidenced by an instrument, is subordinated to the Obligations pursuant to the terms of such instrument or a separate written agreement, in each case, that is approved by Administrative Agent in its reasonable discretion;
(f) trade accounts payable and accrued expenses arising or occurring in the ordinary course of business;
(g) Indebtedness consisting of taxes payable, and obligations in respect of customer deposits, all to the extent incurred in the ordinary course of any Borrower’s business;
(h) performance bonds, completion bonds, other bonds customarily used by any Borrower in its trade or business, surety and appeal bonds, guarantees of performance, and guarantees of Indebtedness of a special district entered into in the ordinary course of business (in each case other than for an obligation for money borrowed);
(i) the Convertible Debt, so long as (1) [intentionally deleted], (2) the Convertible Debt remains unsecured, (3) the terms and conditions of the Convertible Debt are no more restrictive than the terms of this Agreement and (4) UHG complies with Section 10.10 below;
(j) Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business; provided, however, that such Indebtedness is extinguished within five (5) Business Days of incurrence;
(k) Indebtedness arising in connection with endorsement of instruments for deposit in the ordinary course of business; and
(l) so long as no Default or Event of Default exists or would result therefrom at the time incurred, other unsecured and secured debt (including, for the avoidance of doubt, Capitalized Lease Obligations and any Guarantee of such Indebtedness without duplication) (collectively, the “Other Indebtedness”); provided that: (i) the commitment amount of such Othe...
Permitted Indebtedness. Except for Permitted Debt, the Borrower shall not, without the prior written consent of the TIFIA Lender, issue or incur indebtedness of any kind secured by or payable from all or any portion of the Pledged Taxes.
Permitted Indebtedness. Neither the Borrower nor any Subsidiary will create, incur or suffer to exist any Indebtedness, except, without duplication and without duplication as to the Borrower and Subsidiaries:
(a) The Obligations;
(b) Unsecured Indebtedness existing on the ThirdFourth Amendment Effective Date and described on Schedule 7.1(g) attached hereto;
(c) Derivatives Contracts entered into in respect of the Obligations;
(d) Indebtedness of the Borrower owed to a Subsidiary Guarantor, Indebtedness of a Subsidiary Guarantor owed to the Borrower and Indebtedness of a Subsidiary Guarantor owed to a Subsidiary Guarantor; provided, however, that (a) any Indebtedness of the Borrower owed to a Subsidiary Guarantor is unsecured and subordinated to the Borrower’s Obligations hereunder in a manner satisfactory to the Administrative Agent, and (b) upon any such Subsidiary Guarantor ceasing to be a Subsidiary Guarantor or such Indebtedness being owed to any Person other than the Borrower or a Subsidiary Guarantor, the Borrower or such Subsidiary Guarantor hereunder, as applicable, shall be deemed to have incurred Indebtedness not permitted by this clause (d);
(e) Trade accounts payable and accrued expenses arising or occurring in the ordinary course of business;
(f) Indebtedness with respect to Letters of Credit;
(g) Indebtedness consisting of Taxes payable, and obligations in respect of customer deposits, all to the extent incurred in the ordinary course of the Borrower’s or any Subsidiary’s business;
(h) Performance bonds, completion bonds, other bonds customarily used by the Borrower in its trade or business, surety and appeal bonds, guarantees of performance and guarantees of Indebtedness of a special district entered into in the ordinary course of business (in each case other than for an obligation for money borrowed);
(i) Indebtedness arising under a guarantee of indebtedness of any Joint Venture (provided that such guarantee shall be deemed to be an investment in such Joint Venture and subject to the limitations in clause (e) of the definition of Permitted Investments and Section 10.1(e));
(j) Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business; provided, however, that such Indebtedness is extinguished within five (5) Business Days of incurrence;
(k) Indebtedness arising in connection with...
Permitted Indebtedness. As of the date hereof and after giving effect to the sale of the Notes pursuant to the Agreements on the date of the Closing, the aggregate SLV of the Nuclear Fuel plus any accrued Daily Lease Charges plus the cash and investments held in the Collateral Account equals or exceeds, or will equal or exceed, the then sum of the Outstandings under the Credit Agreement plus the aggregate outstanding principal amount of all IT Notes.CLOSING CONDITIONS.
Permitted Indebtedness. Lender Balance Total Payment (indicate daily, weekly, or monthly)
Permitted Indebtedness. Upon any Liquidation Event (as hereinafter defined), but subject in all cases to the Purchase Agreement, the Holder will be entitled to receive, before any distribution or payment is made upon, or set apart with respect to, any class of capital stock of the Maker, an amount equal to the outstanding Principal and Interest. For purposes of this Note, “Liquidation Event” means a liquidation pursuant to a filing of a petition for bankruptcy under applicable law or any other insolvency or debtor’s relief, an assignment for the benefit of creditors, or a voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Maker.
Permitted Indebtedness. The Borrower will not, and will not permit any Restricted Subsidiary to, incur, create, issue, assume or permit to exist any Indebtedness for Borrowed Money other than: (a) the Obligations hereunder and the Subsidiary Guaranty Agreement relating thereto; (b) unsecured Subordinated Debt; (c) debt incurred in connection with permitted Fixed Asset Financing; (d) unsecured Indebtedness for Borrowed Money owing between the Borrower and its Restricted Subsidiaries in the ordinary course of business, provided that the aggregate amount of Indebtedness for Borrowed Money at any one time owing either by or to the Insurance Subsidiary shall not exceed $1,000,000; (e) the 2021 Unsecured Bond Debt; and (f) other unsecured Indebtedness for Borrowed Money to any Person (other than to the Borrower or another Restricted Subsidiary) in an aggregate amount for the Borrower and all Restricted Subsidiaries not exceeding $5,000,000 at any time outstanding. Section
Permitted Indebtedness. The Borrower shall not create, incur, assume or suffer to exist any Indebtedness, other than Permitted Indebtedness, prior to the repayment or conversion of all the Obligations outstanding under this Note without first obtaining the prior written consent of the Holder.
Permitted Indebtedness. See Section 10.3.
Permitted Indebtedness. The term “Permitted Indebtedness” shall mean: