Holdback Debt definition
Examples of Holdback Debt in a sentence
Create, incur, assume or suffer to exist any liability for Indebtedness for Borrowed Money except (i) Borrowers' Obligations, (ii) Permitted Senior Indebtedness, (iii) the Subordinated Debt and (iv) the Dealer Holdback Debt.
On the Effective Date, no Obligor had any Indebtedness for Borrowed Money, except (i) Borrower's Obligations, (ii) Permitted Senior Indebtedness permitted to exist as of the Effective Date pursuant to this Loan Agreement and (iii) the Dealer Holdback Debt.
Upon the Closing, no Borrower will have any Indebtedness for Borrowed Money, except (i) Borrowers' Obligations, (ii) Permitted Senior Indebtedness permitted to exist as of the Closing Date pursuant to this Loan Agreement, (iii) the Subordinated Debt and (iv) the Dealer Holdback Debt.
Create, incur, assume or suffer to exist any liability for Indebtedness for Borrowed Money except (i) Borrower's Obligations, (ii) Permitted Senior Indebtedness and (iii) the Dealer Holdback Debt.
Make any voluntary or optional prepayment of any Indebtedness for Borrowed Money other than Permitted Senior Indebtedness and Borrower's Obligations and payments made in the ordinary course of business with respect to the Dealer Holdback Debt.
Make any (i) voluntary or optional prepayment of any Indebtedness for Borrowed Money other than Borrowers' Obligations and payments made in the ordinary course of business with respect TO the Dealer Holdback Debt or (ii) any payments with respect to the Subordinated Debt, except as permitted pursuant to the Subordination Agreement.
Assume, guarantee, endorse, contingently agree to purchase, become liable in respect of any letter of credit, or otherwise become liable upon the obligation of any Person, except (i) Dealer Holdback Debt, (ii) liabilities arising from the endorsement of negotiable instruments for deposit or collection or (iii) the posting of bonds to secure performance to the extent necessary in connection with Borrower's Security Monitoring Business and similar transactions in the ordinary course of business.
Assume, guarantee, endorse, contingently agree to purchase, become liable in respect of any letter of credit, or otherwise become liable upon the obligation of any Person, except (i) Dealer Holdback Debt, (ii) liabilities arising from the endorsement of negotiable instruments for deposit or collection or (iii) the posting of bonds to secure performance to the extent necessary in connection with Borrowers' Security Monitoring Business and similar transactions in the ordinary course of business.
FINOVA shall have received evidence that all existing Indebtedness for Borrowed Money has been paid in full or will be paid in full concurrently with the Closing, except the (i) Permitted Senior Indebtedness, (ii) Subordinated Debt and (iii) Dealer Holdback Debt.
Make any voluntary or optional prepayment of any Indebtedness for Borrowed Money other than Borrowers' Obligations and payments made in the ordinary course of business with respect to the Dealer Holdback Debt.