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 by Bank and fully secured by cash; (ix) reimbursement obligations with respect to letters of credit not otherwise included in clause (viii) of this Section 5.7 and 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, (x) reimbursement obligations with respect to letters of credit not otherwise included in clause (viii) of this Section 5.7 and 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, (xi) 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; (xii) extensions, refinancings, modifications, amendments and restatements of any item of indebtedness permitted under clauses (i) through (xii) above, provided that the principal amount thereof is not increased; (xiii) indebtedness owing to any Borrower by any other Borrower or to Shift Finance, LLC; (xiv) 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; (xv) other indebtedness in an aggregate amount not exceeding $500,000 outstanding at any time; and (xvi) any unsecured loans (collectively “PPP/CARES Indeb...
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. Except in accordance with the --------------------------- budgets then approved by the Board of Directors pursuant to Section 8.7(h), incur, create or assume any indebtedness, or incur any guarantee or similar contingent obligation in respect of the indebtedness of others, whether or not classified on the Company's balance sheet as a liability, or permit any subsidiary of the Company to do any of the foregoing.
Restriction on Indebtedness. The Borrowers will not have or incur any Indebtedness, except:
Restriction on Indebtedness. Create, incur, assume or have outstanding any indebtedness except:
