Common use of Bank Product Debt Clause in Contracts

Bank Product Debt. Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 in the aggregate at any time;

Bank Product Debt. Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 5,000,000 in the aggregate at any time;

Bank Product Debt. Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or a Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 in the aggregate at any time;

Bank Product Debt. Debt that is in existence when a Person becomes a Subsidiary of Parent or that is secured by an asset when acquired by a Borrower Parent or Subsidiaryits Subsidiaries, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary of Parent or such acquisition, and does not exceed $500,000 15,000,000 in the aggregate at any time;

Bank Product Debt. Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower an Obligated Party or Subsidiaryany of its Subsidiaries, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 1,000,000 in the aggregate at any time;

Bank Product Debt. Debt that is in existence when a Person becomes a Subsidiary of Parent or that is secured by an asset when acquired by a Borrower Parent or Subsidiaryits Subsidiaries, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary of Parent or such acquisition, and does not exceed $500,000 10,000,000 in the aggregate at any time;