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. 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 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. 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 Loans and other Obligations under the Loan Documents collectively constitute “Bank Indebtedness” under and as defined in the Subordinated Note Documents and “Senior Indebtedness” under and as defined in the Holdings Subordinated Note Documents, and will constitute designated senior indebtedness under, and be entitled to the benefit of the subordination provisions of, the documentation relating to any Additional Subordinated Debt or any Additional Seller Notes.
Bank Indebtedness. The Shareholders shall have either (i) furnished evidence satisfactory to the Purchaser that all outstanding Bank Indebtedness of the Company 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. (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. (a) The Borrower does not and shall not have Debt except:
Bank Indebtedness. (l) Liens on properties or assets (1) of the Company or any Note Guarantor securing Senior Indebtedness or Guarantor Senior Indebtedness, (2) of any Wholly Owned Subsidiary that is not a Note Guarantor securing Indebtedness of any Wholly Owned Subsidiary that is not a Note Guarantor or (3) of any Restricted Subsidiary that is not a Note Guarantor securing its Indebtedness;
Bank Indebtedness. 1.6 a pay-off letter (in a form to be approved by the Buyer, such approval not to be unreasonably withheld) relating to the repayment of the Bank Indebtedness duly executed by the Royal Bank of Scotland and the Company;
