Borrower Indebtedness. Borrower will not incur or permit to exist any Indebtedness or liability on account of deposits except: (i) the Obligations, (ii) the Subordinated Loans, and (iii) other current accounts payable arising in the ordinary course of business and not overdue.
Borrower Indebtedness. Any Indebtedness of the Borrower now or hereafter held by any Parent Guarantor or any of their respective Subsidiaries (other than the Borrower) is hereby subordinated to the Indebtedness of the Borrower to the Agents, the Issuer and the Lenders; and such indebtedness of the Borrower to such Parent Guarantor or such Subsidiary, if the Agents, after an Event of Default has occurred, so requests, shall be collected, enforced and received by such Parent Guarantor or such Subsidiary as trustee for the Agents, the Issuer and the Lenders and be paid over to the Administrative Agent on behalf of the Agents, the Issuer and the Lenders on account of the indebtedness of the Borrower to the Agents, the Issuer and the Lenders, but without affecting or impairing in any manner the obligations of such Parent Guarantor or such Subsidiary hereunder or under each other Loan Document to which it is a party. Prior to the transfer by any Parent Guarantor or any their respective Subsidiaries (other than the Borrower) of any note or negotiable instrument evidencing any indebtedness of the Borrower to such Parent Guarantor or such Subsidiary, such Parent Guarantor or such Subsidiary shall xxxx such note or negotiable instrument with a legend that the same is subject to this subordination.
Borrower Indebtedness. The Borrower will not incur or permit to exist any Indebtedness or liability on account of deposits except: (i) the Aggregate Unpaids, (ii) the Subordinated Notes (as defined in the Receivables Sale Agreement), (iii) other current accounts payable arising in the ordinary course of business and not overdue, (iv) the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business, (v) the incurrence of obligations under this Agreement, (vi) the incurrence of obligations, as expressly contemplated in the Receivables Sale Agreement, to make payment to the Originators thereunder for the purchase of Receivables from the Originators under the Receivables Sale Agreement, and (vii) the incurrence of operating expenses in the ordinary course of business of the type otherwise contemplated by this Agreement. The Borrower shall not hold out its credit as available to satisfy the obligations of others, pledge its assets for the benefit of any other entity, make loans or advances to any other entity or acquire obligations or securities of its members.
Borrower Indebtedness. The Borrower will not incur or permit to exist any Indebtedness or liability on account of deposits except: (A) current accounts payable arising in the ordinary course of business and not overdue in an aggregate amount at any time outstanding not to exceed $50,000 (B) Indebtedness incurred in accordance with the Purchase and Sale Agreement and evidenced by the Seller Note and (C) current payables not mentioned in Clause (A) of this subsection (h) and expense reimbursement obligations arising under the Transaction Documents and not overdue.
Borrower Indebtedness. Borrower shall not at any time create, incur, assume or suffer to exist any indebtedness of Borrower except (a) indebtedness represented by the Loan, (b) other indebtedness of Borrower to Lender, (c) unsecured indebtedness to its members, provided that there shall be no repayment of any such indebtedness if there is an Event of Default then in existence under any of the Loan Documents, and (d) accounts payable to trade creditors arising out of purchases of goods or services in the ordinary course of business, provided that (i) each such account payable is payable not later than thirty (30) days after the original invoice date according to the original terms of sale and (ii) each such account payable is not overdue by more than thirty (30) days according to the original terms of sale, unless Borrower is disputing the amount or validity of same in good faith.
Borrower Indebtedness. Except as contemplated by the Transaction Documents, Borrower will not incur or permit to exist any Indebtedness or liability on account of deposits except: (i) the Aggregate Unpaids, (ii) other current accounts payable arising in the ordinary course of business and not overdue, (iii) Indebtedness incurred in connection with the settlement of an Adverse Proceeding to the extent that such Adverse Proceeding has not triggered a Facility Termination Event, and (iv) Indebtedness (A) in respect of netting services, overdraft protections and otherwise in connection with the Collection Accounts or (B) arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business or other cash management services (including automated clearinghouse (ACH) transfers) in the ordinary course of business.
Borrower Indebtedness. Borrower will not incur or permit to exist any Indebtedness or liability on account of deposits except: (i) the Obligations, (ii) the Subordinated Loans, and (iii) other current accounts payable arising in the ordinary course of business and not overdue to the extent such current accounts payable are in excess of $10,750.
Borrower Indebtedness. In the case of the Borrower, incur, issue, create, assume or permit to exist any Indebtedness other than:
(a) Indebtedness outstanding on the Effective Date and set forth in Schedule 6.14; ----
(b) Indebtedness under the New Senior Notes;
(c) Indebtedness under the Loan Documents, including any Indebtedness in the form of Deferred Amounts and interest thereon required to be paid to the Lenders pursuant to Section 6.16 in connection with the making a Permitted Dividend;
(d) Indebtedness secured by a Lien permitted by Section 6.01;
(e) Indebtedness arising in connection with a Sale/Leaseback Transaction permitted by Section 6.02(a)(i), 6.02(a)(ii) or 6.02(a)(iii); ---------- ----------- ------------
(f) Indebtedness in the form of Acceptable Subordinated Loans; (g) Indebtedness maturing after the Term Loan Maturity Date; (h) Indebtedness owing to another Loan Party;
(i) Indebtedness represented by standby letters of credit, trade letters of credit or documentary letters of credit, in each case to the extent incurred in the ordinary course of business of the Borrower and in an aggregate principal or face amount not to exceed $20,000,000 at any time;
(j) Indebtedness represented by industrial revenue bonds to finance capital expenditures incurred to reduce NOx emissions in the Houston/Galveston region pursuant to a Texas Natural Resource Conservation Commission plan; and
(k) any other Indebtedness; provided that the sum (without duplication) of (A) all Indebtedness which would not be permitted but for this Section 6.14(k), (B) all Indebtedness and Preferred Stock of Material ------- Subsidiaries which would not be permitted but for Section 6.03(g) (other than ------- any Guarantee by any Loan Party of Indebtedness of the Borrower permitted by this Section), (C) all Indebtedness and other monetary obligations secured by Liens which would not be permitted but for clause Section 6.01(x) and (D) all ------- obligations of the Borrower and the Material Subsidiaries in respect of Sale/Leaseback Transactions referred to in Section 6.02(a)(iv), shall not exceed ----------- $75,000,000; provided further, that for purposes of determining compliance at any time with this Section 6.14(k), the amounts of any other monetary ------- obligations referred to in subclause (C) above or of any obligations (other than Capitalized Lease Obligations) referred to in subclause (D) above shall be the stated or determinable amounts of such obligations at such time, unless the amounts of...
Borrower Indebtedness. Borrower shall not at any time create, incur, assume or suffer to exist any indebtedness except (a) indebtedness represented by the Loan and Existing Loan, (b) other indebtedness of Borrower to Lender, and (c) accounts payable to trade creditors arising out of purchases of goods or services in the ordinary course of business, provided that (i) each such account payable is payable not later than thirty (30) days after the original invoice date according to the original terms of sale and (ii) each such account payable is not overdue by more than thirty (30) days according to the original terms of sale, unless Borrower is disputing the amount or validity of same in good faith and if greater than $25,000 the disputed amount has been deposited by Borrower into a separate impressed account with Lender.
Borrower Indebtedness. The indebtedness guaranteed by this Guaranty includes collectively any and all Borrower’s indebtedness to Bank and is used in the most comprehensive sense and means and includes any and all Borrower’s liabilities, obligations and debts to Bank, now existing or hereafter incurred or created, including, without limitation, the following Loan made by Bank to Borrower identified below, effective the same date as this Guaranty: $20,000,000.00 Real Estate Term Loan. Together with all other loans if any, advances, interest, costs, debts, overdraft indebtedness and liabilities of Borrower, and any present or future judgments against Borrower, plus all of Bank’s costs, expenses, and to the extent allowed by law reasonable attorney’s fees incurred in connection with or relating to (A) the collection of the indebtedness, (B) the collection and sale of any collateral for the indebtedness or this Guaranty, or (C) the enforcement of this Guaranty (attorney’s fees include, without limitation, reasonable attorney’s fees whether or not there is a lawsuit, and if there is a lawsuit, any fees and costs for trial and appeal); and whether any such indebtedness is voluntarily or involuntarily incurred, due or not due, absolute or contingent, liquidated or unliquidated, determined or undetermined; whether Borrower may be liable individually or jointly with others, or primarily or secondarily, or as guarantor or surety; whether recovery on the indebtedness may be or may become barred or unenforceable against Borrower for any reason whatsoever; and whether the indebtedness arises from transactions which may be voidable on account of infancy, insanity, ultra xxxxx, or otherwise.
