Common use of Permitted Indebtedness Clause in Contracts

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

Appears in 3 contracts

Sources: Revolving Credit Agreement (World Acceptance Corp), Revolving Credit Agreement (World Acceptance Corp), Revolving Credit Agreement (World Acceptance Corp)

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 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.

Appears in 2 contracts

Sources: Revolving Credit Agreement (World Acceptance Corp), Revolving Credit Agreement (World Acceptance Corp)

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; and (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.

Appears in 1 contract

Sources: Revolving Credit Agreement (World Acceptance Corp)

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) the High Yield Bond Debt; (c) unsecured Subordinated Debt; ; (cd) debt incurred in connection with permitted Fixed Asset Financing; ; (de) 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 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. 3.5. SectionSection 8.12 of the Credit Agreement (Material Contracts) shall be amended and restated as follows:

Appears in 1 contract

Sources: Revolving Credit Agreement (World Acceptance Corp)

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 Notes issued hereunder, and the Subsidiary Guaranty Agreement relating thereto; ; (b) the Revolving Obligations, the principal balance of which shall not exceed $350,000,000 at any time (determined exclusive of any hedging liability); (c) unsecured Subordinated Debt; ; (cd) debt incurred in connection with permitted Fixed Asset Financing; ; (de) 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 2,000,000; (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 6,000,000 at any time outstanding. Section; and (g) Indebtedness owing under the Convertible Notes.

Appears in 1 contract

Sources: Subordinated Credit Agreement (World Acceptance Corp)

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 Notes issued 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; and (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 1,000,000 at any time outstanding. Section.

Appears in 1 contract

Sources: Credit Agreement (World Acceptance Corp)

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) Second Lien Subordinated Debt (including any Restricted Subsidiary (other than the Insurance Subsidiary) guaranty relating thereto) in an aggregate principal amount not to exceed $75,000,000, less repayments thereof from time to time in accordance with its terms and the Intercreditor Agreement; (c) unsecured Subordinated Debt; ; (cd) debt incurred in connection with permitted Fixed Asset Financing; ; (de) 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 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.

Appears in 1 contract

Sources: Revolving Credit Agreement (World Acceptance Corp)

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 Notes issued 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; and (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 3,000,000 at any time outstanding. Section.

Appears in 1 contract

Sources: Revolving Credit Agreement (World Acceptance Corp)