Definition of PMSI Indebtedness


PMSI Indebtedness means purchase money security Indebtedness for assets acquired by the Maker or the Subsidiaries in the ordinary course of their businesses to the extent such Indebtedness does not exceed the fair market value of the assets acquired with the proceeds of such Indebtedness and such Indebtedness is secured solely by such assets.
Sample 1

Examples of PMSI Indebtedness in a sentence

Notwithstanding anything to the contrary contained elsewhere in this Agreement, to the extent that Lessor asserts a purchase money security interest in any items of Equipment ("PMSI EQUIPMENT"): (i) the PMSI Equipment shall secure only those sums which have been advanced by Lessor for the purchase of the PMSI Equipment, or the acquisition of rights therein, or the use thereof (the "PMSI INDEBTEDNESS"), and (ii) no other Equipment shall secure the PMSI Indebtedness.
Notwithstanding anything to the contrary contained in this Agreement, to the extent that Secured Party asserts a purchase money security interest in any items of Collateral (PMSI Collateral): (i) the PMSI Collateral shall secure only that portion of the Indebtedness which has been advanced by Secured Party to enable Debtor to purchase, or acquire rights in or the use of such PMSI Collateral (the PMSI Indebtedness), and (ii) no other Collateral shall secure the PMSI Indebtedness.
Notwithstanding anything to the contrary contained in this Agreement, to the extent that Secured Party asserts a purchase money security interest in any items of Collateral ("PMSI COLLATERAL"): (i) the PMSI Collateral shall secure only that portion of the Indebtedness which has been advanced by Secured Party to enable Debtor to purchase, or acquire rights in or the use of such PMSI Collateral (the "PMSI INDEBTEDNESS"), and (ii) no other Collateral shall secure the PMSI Indebtedness.
Notwithstanding anything to the contrary contained in this Agreement, to the extent that Secured Party asserts a purchase money security interest in any items of Collateral PMSI Collateral): (i) the PMSI Collateral shall secure only that portion of the Indebtedness which has been advanced by Secured Party to enable Debtor to purchase, or acquire rights in or the use of such PMSI Collateral (the PMSI Indebtedness), and (ii) no other Collateral shall secure the PMSI Indebtedness.
The amount of Additional PMSI Indebtedness outstanding at any time plus the amount of Permitted Term Loan Indebtedness outstanding at anytime shall not exceed $150,000,000, in the aggregate.