Contract Indebtedness definition
Contract Indebtedness means Indebtedness incurred for the sole purpose of financing all or any part of the purchase price or cost of design, engineering, installation, construction, configuring, maintenance, or operation or improvement of property or equipment used in the business of the Company or any Subsidiary at a customer site, including without limitation, costs of site analysis and preparation, in connection with customer contracts entered into on or after October 1, 2006; provided that such Indebtedness shall not be convertible or exercisable for, or otherwise entitle the holder of such Indebtedness to any rights with respect to, any equity securities of the Company.
Examples of Contract Indebtedness in a sentence
The Companies may from time to time buy Precious Metal from FPM pursuant to Forward Contracts in form and substance, and on terms, satisfactory to FPM, so long as the Companies are in compliance with the Agreement, and the Forward Contract Indebtedness does not exceed at any time the Forward Contract Limit.