Debt for Money Borrowed means, with respect to any Person at any date and without duplication, the sum of the following calculated in accordance with GAAP: (a) all liabilities, obligations and indebtedness for borrowed money including, but not limited to, obligations evidenced by bonds, debentures, notes or other similar instruments of the Borrower, (b) all obligations of such Person as lessee under Capital Leases, and (c) all obligations, contingent or otherwise, of any such Person relative to the face amount of letters of credit, whether or not drawn, and banker's acceptances issued for the account of such Person.
Debt for Money Borrowed of any Person means at any date, without duplication, Debt of the type referred to in clauses (i) and (ii) of the definition of "Debt" set forth herein.
Debt for Money Borrowed means, with respect to the Borrower and its Subsidiaries at any date and without duplication, the sum of the following calculated in accordance with GAAP: (a) all liabilities, obligations and indebtedness for borrowed money, including, but not limited to, obligations evidenced by bonds, debentures, notes or other similar instruments of any Person, (b) all obligations of any Person as lessee under Capital Leases, (c) all Contingent Obligations of any such Person with respect to Debt for Money Borrowed, and (d) all obligations, contingent or otherwise, of any such Person relative to the unexpired face amount of letters of credit, whether or not drawn, and banker's acceptances issued for the account of any such Person.
Examples of Debt for Money Borrowed in a sentence
Permitted Fixed Asset Loan - after the satisfaction of the Partial Release Conditions, Debt for Money Borrowed incurred by Borrower to a Person other than Agent and Lenders that is secured by a Permitted Fixed Asset Lien only.
Borrower (i) shall default under any agreement ------------ with any creditor other than Lender for Debt for Money Borrowed in excess of $100,000 which entitles said creditor to accelerate the maturity thereof or (ii) shall default with respect to any Debt (other than Debt for Money Borrowed) in excess of $250,000 which entitles the obligee to demand payment of the Debt, and any such default shall continue beyond any applicable grace or cure period.
Any Guarantor shall be in default under the terms of any agreement, document or instrument which relates to any Debt for Money Borrowed; or any Insolvency Proceeding shall be commenced by or against any Guarantor.
Funded Debt - collectively, without duplication, (a) the aggregate principal amount of Debt for Money Borrowed, including Capitalized Lease Obligations, and all Revolver Loans and (b) all Debt outstanding under any revolving credit, line of credit or renewals thereof), notwithstanding that any such Debt is created within one year of the expiration of such agreement.
There shall occur any default or event of default on the part of Borrower or Guarantor under any agreement, document or instrument, which is entered into after the Effective Date and which relates to any Debt for Money Borrowed, if, as a consequence of such default or event of default, the holder of such Debt shall be authorized to accelerate the maturity or demand payment thereof.
More Definitions of Debt for Money Borrowed
Debt for Money Borrowed means all liabilities, obligations and indebtedness of Strategic to any Person consisting of indebtedness for money borrowed or the deferred purchase price of property, excluding trade payables, but including (a) all Indebtedness evidenced by the Notes, (b) all debt outstanding to BB&T and (c) all obligations and liabilities created or arising under any Capital Lease or conditional sale with respect to property used or acquired by Strategic.
Debt for Money Borrowed means, with respect to the Company and its Subsidiaries at any date and without duplication, any of the following:
Debt for Money Borrowed means, as applied to any Person, (i) Indebtedness arising from the lending of money by any other Person to such Person (whether interest-bearing or not); (ii) Indebtedness, whether or not in any such case arising from the lending of money by another Person to such Person, (A) which is represented by notes payable or drafts accepted that evidence extensions of credit, (B) which constitutes obligations evidenced by bonds, debentures, notes or similar instruments, or (C) upon which interest charges are customarily paid (other than accounts payable) or that was issued or assumed as full or partial payment for property; (iii) Indebtedness under a Capital Lease; (iv) reimbursement obligations with respect to letters of credit or guaranties of letters of credit; and (v) Indebtedness of such Person under any guaranty of obligations that would constitute Debt for Money Borrowed under clauses (i) through (iv) hereof, if owed directly by such Person.
Debt for Money Borrowed means as applied to any Person, (i) Debt arising from the lending of money by any other Person to such Person; (ii) Debt, whether or not in any such case arising from the lending of money by another Person to such Person, (A) which is represented by notes payable or drafts accepted that evidence extensions of credit, (B) which constitutes obligations evidenced by bonds, debentures, notes or similar instruments, or (C) upon which interest charges are customarily paid (other than accounts payable) or that was issued or assumed as full or partial payment for Property; (iii) Debt that constitutes a Capitalized Lease Obligation; (iv) reimbursement obligations with respect to letters of credit or guaranties of letters of credit; and (v) Debt of such Person under any guaranty of obligations that would constitute Debt for Money Borrowed under clauses (i) through (iii) hereof, if owed directly by such Person. By its signature below, each Borrower ratifies and reaffirms all of its obligations under the Loan Agreement and other Loan Documents and acknowledges and agrees that except to the extent of Agent's and Lenders' express agreements herein, nothing herein shall be construed to be a waiver, modification or release of any provision of the Loan Documents, each of which shall remain in full force and effect. Nothing herein is intended to be, nor shall it be construed to create, a novation or an accord and satisfaction. By their signatures below, Agent and each Lender hereby waives the requirement contained in clause (f) of the deifnition of "Permitted Business Acquisition" for the delivery of at least thirty Business Days prior written notice of the Duck Head Acquisition. This letter agreement shall be effective upon signature by Agent and Lenders, whereupon the same shall be governed and interpreted in accordance with the internal laws of the State of Georgia. This letter agreement may be executed in any number of counterparts and by different parties hereto and separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all such counterparts taken together shall constitute but one and the same instrument. Any signature delivered by a party by facsimile transmission shall be deemed to be an original signature hereto. AGENT: FLEET CAPITAL CORPORATION, as Agent By: /s/ Dennis Losin Title: SVP LENDERS: FLEET CAPITAL CORPORATION By: /s/ Dennis Losin Title: SVP [Xignatures continued on following page] BANK OF AMERICA, N.A. B...
Debt for Money Borrowed means, as to any Person, all Indebtedness excluding Indebtedness referred to in clause (b) under the definition of the term "Indebtedness."
Debt for Money Borrowed means, as applied to any Person, (i) Indebtedness arising from the lending of money by any other Person to such Person; (ii) Indebtedness, whether or not in any such case arising from the lending of money by another Person to such Person, (A) which is represented by notes payable or drafts accepted that evidence extensions of credit, (B) which constitutes obligations evidenced by bonds, debentures, notes or similar instruments, or (C) upon which interest charges are customarily paid (other than accounts payable) or that was issued or assumed as full or partial payment for Property; (iii) Indebtedness that constitutes a Capitalized Lease Obligation; (iv) reimbursement obligations with respect to letters of credit or guaranties of letters of credit and (v) Indebtedness of such Person under any guaranty of obligations that would constitute Debt for Money Borrowed under clauses (i) through (iii) hereof, if owed directly by such Person. Debt Subordination Agreement - the Debt Subordination Agreement dated the date hereof among TSCI, Tropical and Agent, pursuant to which TSCI has agreed to subordinate all indebtedness owing by Tropical to TSCI to the prior payment in full of the Obligations. Default - an event or condition the occurrence of which would, with the lapse of time or the giving of notice, or both, become an Event of Default. Default Rate - a fluctuating rate per annum which, on any date, is equal to the Applicable Margin in effect for such date plus 2%. Deposit Account - a demand, time, savings, passbook, money market or other depository account, or a certificate of deposit, maintained by a Borrower with any bank, savings and loan association, credit union or other depository institution. Deposit Account Assignment - the Collateral Assignment of Deposit Accounts to be executed by Borrowers on the Closing Date in favor of Agent for itself and the Pro Rata benefit of Lenders as security for the Obligations. Distribution - in respect of any entity, (i) any payment of any dividends or other distributions on Equity Interests of the entity (except distributions in such Equity Interests) and (ii) any purchase, redemption or other acquisition or retirement for value of any Equity Interests of the entity or any Affiliate of the entity unless made contemporaneously from the net proceeds of the sale of Equity Interests.
Debt for Money Borrowed means, as applied to any Person, (i) Indebtedness arising from the lending of money by any other Person to such Person (whether interest-bearing or not); (ii) Indebtedness, whether or not in any such case arising from the lending of money by another Person to such Person, (A) which is represented by notes payable or drafts accepted that