Bank Indebtedness. The grant of a security interest in any accounts receivable of the Borrower or any of its Restricted Subsidiaries to secure Bank Indebtedness shall not be deemed a Qualified Receivables Transaction.
Bank Indebtedness. The Company has the following credit facilities: A UK credit facility allowing for an operating line of credit of 161,000 (90,000 GBP) was extended by the UK Bank. A Canadian credit facility requires the Canadian subsidiary to comply with certain financial covenants. As at July 31, 2006, the Canadian subsidiary was not in compliance therewith.
Bank Indebtedness. As soon as practicable, and in any event no later than two (2) Business Days, following the Closing Date, the Company shall:
Bank Indebtedness. The Stockholders hereby represent to LandCare that the aggregate outstanding balance of the Company's indebtedness to NationsBank as of July 31, 1998 was not more than $1,678,000 (the "NationsBank Debt"). As promptly as practicable after the Closing, and in any case within three business days after Closing, LandCare shall cause the Company to repay the NationsBank Debt, plus any and all costs, expenses and fees associated with the termination of such credit facility, and shall cause the prompt release of any and all liens and guaranties securing such debt.
Bank Indebtedness. The Shareholders shall have either (i) furnished evidence satisfactory to the Purchaser that all outstanding Bank Indebtedness has been repaid in full or (ii) requested Purchaser apply that portion of the purchase price to be paid at the Closing to the repayment in full of all outstanding Bank Indebtedness.
Bank Indebtedness. The Loans and other Obligations under the Loan Documents collectively constitute “Bank Indebtedness”, and this Agreement and the other Loan Documents collectively constitute the “Credit Agreement”, for all purposes of the Subordinated Note Documents. The Loans and other Obligations under the Loan Documents collectively shall constitute designated senior indebtedness in any indenture or other definitive documentation for any Additional Subordinated Debt.
Bank Indebtedness. (1) In calculating the amount of assets of the Company as of December 31, 1996 and as of the Closing Date the entire amount of the indebtedness owed by the Company to the banks shall be excluded.
Bank Indebtedness. Citizens First shall have delivered to the Company simultaneously with the Closing, evidence satisfactory to the Company that the Stock Pledge has been terminated.
Bank Indebtedness. 8 SECTION 3.12 Litigation................................................. 8 SECTION 3.13
Bank Indebtedness. The Bank does not have any indebtedness ("Bank Indebtedness") other than deposits.
