Uncapped Permitted Indebtedness definition
Uncapped Permitted Indebtedness means (1) endorsement of instruments or other payment items for deposit, (1) the incurrence by Borrower or its Subsidiaries of unsecured indebtedness under hedging agreements that are incurred for the bona fide purpose of hedging interest rate or foreign currency risk associated with Borrower’s and its Subsidiaries’ operations and not for speculative purposes, (1) indebtedness constituting Permitted Investments, and (1) unsecured indebtedness consisting of trade payables and current liabilities. {Z0022852/25 } 36
Examples of Uncapped Permitted Indebtedness in a sentence
Create, incur, assume or permit to exist any indebtedness or liabilities resulting from borrowings, loans or advances, whether secured or unsecured, matured or unmatured, liquidated or unliquidated, joint or several, except (a) the liabilities of Borrower and each of its Subsidiaries to Bank, (b) Permitted Investments, (c) Uncapped Permitted Indebtedness, and (d) Capped Permitted Indebtedness up to $2,000,000 in the aggregate outstanding at any one time.