Common use of Borrowings and Guaranties Clause in Contracts

Borrowings and Guaranties. No Loan Party shall, nor shall it permit any of its Subsidiaries to, issue, incur, assume, create or have outstanding any Indebtedness, or incur liabilities under any Hedging Agreement, or be or become liable as endorser, guarantor, surety or otherwise for any Indebtedness or undertaking of any Person, or otherwise agree to provide funds for payment of the obligations of another, or supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any claim or demand it may have to the claim or demand of any Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Secured Obligations of the Loan Parties and their Subsidiaries owing to the Administrative Agent and the Lenders (and their Affiliates); (b) purchase money indebtedness and Capitalized Lease Obligations of the Loan Parties and their Subsidiaries in an amount not to exceed $10,000,000 in the aggregate at any one time outstanding; (c) obligations of the Loan Parties and their Subsidiaries arising out of interest rate, foreign currency, and commodity Hedging Agreements entered into with financial institutions in connection with bona fide hedging activities in the ordinary course of business and not for speculative purposes; (d) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; and (e) unsecured Indebtedness of the Loan Parties and their Subsidiaries not otherwise permitted by this Section in an amount not to exceed $500,000 in the aggregate at any one time outstanding.

Borrowings and Guaranties. No Loan Party shallThe Borrower shall not, nor shall it permit any of its Subsidiaries Subsidiary to, issue, incur, assume, create or have outstanding any Indebtedness, or incur liabilities under any Hedging AgreementIndebtedness for Borrowed Money, or be or become liable as endorser, guarantor, surety or otherwise for any Indebtedness debt, obligation or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any claim or demand it may have to the claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Secured Obligations Obligations, Hedging Liability, and Funds Transfer and Deposit Account Liability of the Loan Parties Borrower and their its Subsidiaries owing to the Administrative Agent and the Lenders (and their Affiliates); (b) purchase money indebtedness and Capitalized Lease Obligations of the Loan Parties Borrower and their its Subsidiaries in an amount not to exceed $10,000,000 20,000,000 in the aggregate at any one time outstanding; (c) obligations of the Loan Parties and their Subsidiaries Borrower arising out of interest rate, rate and foreign currency, and commodity Hedging Agreements currency hedging agreements entered into with financial institutions in connection with bona fide hedging activities in the ordinary course of business and not for speculative purposesbusiness; (d) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; and; (e) unsecured Indebtedness indebtedness from time to time owing by any Subsidiary to the Borrower; (f) indebtedness and guaranties with respect to the Senior Notes; (g) indebtedness of the Loan Parties Borrower and their its Subsidiaries not otherwise permitted by this Section in an amount not to exceed $500,000 10,000,000 in the aggregate at any one time outstanding.; and

Borrowings and Guaranties. No Loan Party shall, nor Borrower shall it permit any of its Subsidiaries to, issue, incur, assume, create or have outstanding any Indebtedness, or incur liabilities under any Hedging AgreementDebt, or be or become liable as endorser, guarantor, surety or otherwise for any Indebtedness debt, obligation or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any claim or demand it may have to the claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Secured Obligations Obligations, Hedging Liability, and Funds Transfer and Deposit Account Liability of the Loan Parties and their Subsidiaries Borrowers owing to the Administrative Agent and the Lenders (and their Affiliates); (b) purchase money indebtedness and Capitalized Lease Obligations Debt listed on Schedule 8.7(b) outstanding on the date of the Loan Parties and their Subsidiaries in an amount not to exceed $10,000,000 in the aggregate at any one time outstandingthis Agreement; (c) obligations of the Loan Parties and their Subsidiaries Borrowers arising out of interest rate, rate and foreign currency, and commodity Hedging Agreements currency hedging agreements entered into with financial institutions in connection with bona fide hedging activities in the ordinary course of business and not for speculative purposesbusiness; (d) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; and; (e) unsecured Indebtedness indebtedness from time to time owing by any Subsidiary or Affiliate to any Borrower arising from intercompany advances permitted by Section 8.9(f)(i) hereof; (f) Debt of the Loan Parties and their Subsidiaries Borrowers not otherwise permitted by this Section in an amount not to exceed $500,000 2,000,000 in the aggregate at any one time outstanding; (g) A guarantee by a Borrower of liability incurred by another Borrower in the ordinary course of business and otherwise permitted hereunder.

Borrowings and Guaranties. No Loan Party shallThe Company shall not, nor shall it permit any of its Subsidiaries Subsidiary to, issue, incur, assume, create create, or have outstanding any Indebtedness, or incur liabilities under any Hedging AgreementIndebtedness for Borrowed Money, or be or become liable as endorser, guarantor, surety surety, or otherwise for any Indebtedness debt, obligation, or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any claim or demand it may have to the claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Secured Obligations of the Loan Parties and their Subsidiaries Company owing to the Administrative Agent Purchaser under the Operative Documents and other indebtedness and obligations of the Lenders (and their Affiliates)Company owing to the Purchaser; (b) purchase money indebtedness and Capitalized Lease Obligations of the Loan Parties and their Subsidiaries in an amount not to exceed $10,000,000 in the aggregate at any one time outstandingreserved; (c) obligations of the Loan Parties Company and their its Subsidiaries arising out of interest rate, rate and foreign currency, and commodity Hedging Agreements currency hedging agreements entered into with financial institutions in connection with bona fide hedging activities in the ordinary course of business and not for speculative purposesspeculation; (d) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; and; (e) unsecured Indebtedness reserved; (f) indebtedness of the Loan Parties Company and their Flexo to Mxxxxxx and Sxxxxx existing on the date hereof in an aggregate principal amount not to exceed $1,500,000 on the date hereof, as reduced by payments thereon, and provided that any indebtedness of the Company to Mxxxxxx and Sxxxxx shall be Subordinated Debt; (g) unsecured Intercompany Debt existing on the date hereof and identified on Schedule 8.7; (h) unsecured Intercompany Debt incurred after the date hereof in an amount not to exceed $575,000 in the aggregate at any one time outstanding; (i) unsecured indebtedness of the Company and its Subsidiaries not otherwise permitted by this Section in an amount not to exceed $500,000 115,000 in the aggregate at any one time outstanding; and (j) indebtedness of the Company constituting the Senior Debt.

Borrowings and Guaranties. No Loan Party None of the Borrowers shall, nor shall it they permit any of its their respective Subsidiaries to, issue, incur, assume, create or have outstanding any Indebtedness, or incur liabilities under any Hedging Agreement, or be or become liable as endorser, guarantor, surety or otherwise for any Indebtedness debt, obligation or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any claim or demand it may have to the claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Secured Obligations of the Loan Parties and their Subsidiaries owing to the Administrative Agent and the Lenders (and their Affiliates)Obligations; (b) purchase money indebtedness and indebtedness, Capitalized Lease Obligations or other indebtedness of the Loan Parties LoJack and their its Subsidiaries in an amount not to exceed the Dollar Equivalent of $10,000,000 2,000,000 in the aggregate at any one time outstanding; (c) obligations of the Loan Parties and their Subsidiaries arising out of non-speculative interest rate, foreign currency, and commodity Hedging Agreements hedging agreements entered into with financial institutions in connection with bona fide hedging activities in the ordinary course of business and not for speculative purposesbusiness; (d) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; (e) intercompany advances from time to time owing by any Guarantor to LoJack or another Guarantor or Borrower, or owing by LoJack or any Guarantor to any Borrower; (f) intercompany advances from time to time owing by any Subsidiary (other than a Borrower or Guarantor) to LoJack or any Guarantor, to the extent permitted under Section 9.3; and (eg) unsecured Indebtedness indebtedness of the Loan Parties LoJack and their its Subsidiaries not otherwise permitted by this Section in an amount not to exceed $500,000 in the aggregate at any one time outstandingdisclosed on Schedule 9.1 hereof.

Borrowings and Guaranties. No Loan Party shall, nor shall it permit any of its Domestic Subsidiaries to, issue, incur, assume, create or have outstanding any Indebtedness, or incur liabilities under any Hedging Agreement, or be or become liable as endorser, guarantor, surety or otherwise for any Indebtedness or undertaking of any Person, or otherwise agree to provide funds for payment of the obligations of another, or supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any claim or demand it may have to the claim or demand of any Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Secured Obligations (and any guarantees of such obligations) of the Loan Parties and their Subsidiaries owing to the Administrative Agent and the Lenders Bank (and their its Affiliates); (b) purchase money indebtedness and Capitalized Lease Obligations of the Loan Parties and their Subsidiaries in an amount not to exceed $10,000,000 500,000 in the aggregate at any one time outstanding; (c) obligations of the Loan Parties and their Subsidiaries arising out of interest rate, foreign currency, and commodity Hedging Agreements entered into with financial institutions in connection with bona fide hedging activities in the ordinary course of business and not for speculative purposes; (d) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; (e) intercompany advances from time to time owing between the Loan Parties or owing from a Loan Party to PECI and its Subsidiaries, in each case, in the ordinary course of business; (f) Subordinated Debt in an amount not to exceed $1,750,000 in the aggregate on the Closing Date, as reduced by permitted payments thereon; (g) Indebtedness owed to any Person providing workers’ compensation, health, disability or other employee benefits (including contractual and statutory benefits) or property, casualty, liability or credit insurance, pursuant to reimbursement or indemnification obligations to such Person, in each case incurred in the ordinary course of business; (h) Indebtedness in respect of bids, trade contracts (other than for debt for borrowed money), leases (other than Capitalized Lease Obligations), statutory obligations, surety, stay, customs and appeal bonds, performance, performance and completion and return of money bonds, government contracts and similar obligations, in each case, provided in the ordinary course of business; (i) Indebtedness in respect of netting services, overdraft protection and similar arrangements, in each case, in connection with cash management and deposit accounts; (j) Indebtedness representing deferred compensation to directors, officers, employees of any Loan Party incurred in the ordinary course of business; (k) Indebtedness consisting of the financing of insurance premiums in the ordinary course of business; (l) Indebtedness arising from agreements of a Loan Party providing for indemnification, adjustment of purchase or acquisition price or similar obligations, in each case, incurred or assumed in connection with a Permitted Acquisition; (m) guaranty from the Borrower of Indebtedness of PECI, Pioneer Transformers Ltd. and Bemag Transformer Inc. owing to the Bank or its Affiliates; and guaranties from Loan Parties of Indebtedness of Subsidiaries which are not Loan Parties in an amount not to exceed $2,750,000; (n) any guarantee by a Loan Party of Indebtedness of any other Loan Party, so long as the incurrence of such Indebtedness is otherwise permitted under the terms of this Agreement; and (eo) unsecured Indebtedness of the Loan Parties and their Subsidiaries not otherwise permitted by this Section in an amount not to exceed $500,000 200,000 in the aggregate at any one time outstanding.

Borrowings and Guaranties. No Loan Party shall, nor shall it permit any of its Subsidiaries to, issue, incur, assume, create or have outstanding any Indebtedness, or incur liabilities under any Hedging Agreement, or be or become liable as endorser, guarantor, surety or otherwise for any Indebtedness or undertaking of any Person, or otherwise agree to provide funds for payment of the obligations of another, or supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any claim or demand it may have to the claim or demand of any Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Secured Obligations of the Loan Parties and their Subsidiaries owing to the Administrative Agent and the Lenders (and their Affiliates), all Indebtedness listed on Schedule 8.7 attached hereto, and, in each case, any extension, renewal or refinancing thereof so long as the principal amount thereof is not increased; (b) purchase money indebtedness and Capitalized Lease Obligations of the Loan Parties and their Subsidiaries in an original principal amount not to exceed $10,000,000 5,000,000 in the aggregate at any one time outstanding, and, in each case, any extension, renewal or refinancing thereof so long as the principal amount thereof is not increased; (c) obligations of the Loan Parties and their Subsidiaries arising out of interest rate, foreign currency, and commodity Hedging Agreements entered into with financial institutions in connection with bona fide hedging activities in the ordinary course of business and not for speculative purposes; (d) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; (e) to the extent constituting Indebtedness, investments permitted pursuant to Section 8.9(c); (f) Indebtedness in respect of netting services, overdraft protection and similar arrangements, in each case, in connection with cash management and deposit accounts; (g) Indebtedness representing deferred compensation to directors, officers, employees of any Loan Party incurred in the ordinary course of business; and (eh) unsecured other Indebtedness of the Borrower or any Parent Subsidiary; provided that the Loan Parties and their Subsidiaries not otherwise permitted by this shall be in compliance, on a pro forma basis after giving effect to such Indebtedness, with the financial covenants set forth in Section in an amount not 8.22, recomputed as of the last day of the most-recently ended Fiscal Quarter of the Borrower for which financial statements have been delivered pursuant to exceed $500,000 in the aggregate at any one time outstandingSection 8.5.

Borrowings and Guaranties. No Loan Party shall, nor Designated Company shall it permit any of its Subsidiaries to, issue, incur, assume, create or have outstanding any Indebtednessindebtedness or obligations, or incur liabilities under any Hedging AgreementIndebtedness for Borrowed Money, or be or become liable as endorser, guarantor, guarantor or surety or otherwise for any Indebtedness debt, obligation or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or supply advance funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any material claim or demand it may have to the material claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Secured Obligations of the Loan Parties and their Subsidiaries owing to the Administrative Agent and the Lenders (and their Affiliates)Obligations; (b) purchase money indebtedness and Capitalized Lease Obligations for the purchase or financing of real estate, machinery and equipment of the Loan Parties and their Subsidiaries Designated Companies in the ordinary course of business in an aggregate amount not to exceed $10,000,000 6,000,000 in the aggregate at any one time outstanding, plus any such amounts outstanding on the Closing Date and described on Schedule 8.7; (c) Indebtedness listed on Schedule 8.7; (d) obligations of the Loan Parties and their Subsidiaries Borrower arising out of interest rate, foreign currency, and commodity Hedging Agreements hedging agreements entered into for its own account with financial institutions in connection with bona fide hedging activities one or more Lenders or their Affiliates in the ordinary course of business and not for speculative purposesbusiness; (de) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; and; (ef) unsecured Indebtedness of for Borrowed Money (including without limitation loans and advances) owing to the Loan Parties and their Subsidiaries not otherwise permitted Borrower by this Section in an amount not any other Designated Company or by the Borrower to exceed $500,000 in the aggregate at any one time outstanding.other Designated Company;

Borrowings and Guaranties. No Loan Party shall, nor shall it permit any of its Domestic Subsidiaries to, issue, incur, assume, create or have outstanding any Indebtedness, or incur liabilities under any Hedging Agreement, or be or become liable as endorser, guarantor, surety or otherwise for any Indebtedness or undertaking of any Person, or otherwise agree to provide funds for payment of the obligations of another, or supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any claim or demand it may have to the claim or demand of any Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Secured Obligations (and any guarantees of such obligations) of the Loan Parties and their Subsidiaries owing to the Administrative Agent and the Lenders Bank (and their its Affiliates); (b) purchase money indebtedness and Capitalized Lease Obligations of the Loan Parties and their Subsidiaries in an amount not to exceed $10,000,000 1,000,000 in the aggregate at any one time outstanding; (c) obligations of the Loan Parties and their Subsidiaries arising out of interest rate, foreign currency, and commodity Hedging Agreements entered into with financial institutions in connection with bona fide hedging activities in the ordinary course of business and not for speculative purposes; (d) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; (e) intercompany advances from time to time owing between the Loan Parties or owing from a Loan Party to PECI and its Subsidiaries, in each case, in the ordinary course of business; (f) Subordinated Debt in an amount not to exceed $1,750,000 in the aggregate on the Closing Date, as reduced by permitted payments thereon; (g) Indebtedness owed to any Person providing workers’ compensation, health, disability or other employee benefits (including contractual and statutory benefits) or property, casualty, liability or credit insurance, pursuant to reimbursement or indemnification obligations to such Person, in each case incurred in the ordinary course of business; (h) Indebtedness in respect of bids, trade contracts (other than for debt for borrowed money), leases (other than Capitalized Lease Obligations), statutory obligations, surety, stay, customs and appeal bonds, performance, performance and completion and return of money bonds, government contracts and similar obligations, in each case, provided in the ordinary course of business; (i) Indebtedness in respect of netting services, overdraft protection and similar arrangements, in each case, in connection with cash management and deposit accounts; (j) Indebtedness representing deferred compensation to directors, officers, employees of any Loan Party incurred in the ordinary course of business; (k) Indebtedness consisting of the financing of insurance premiums in the ordinary course of business; (l) guaranty from the Borrower of Indebtedness of PECI, Pioneer Transformers Ltd. and Bemag Transformer Inc. owing to the Bank or its Affiliates; and guaranties from Loan Parties of Indebtedness of Subsidiaries which are not Loan Parties in an amount not to exceed $2,750,000; (m) any guarantee by a Loan Party of Indebtedness of any other Loan Party, so long as the incurrence of such Indebtedness is otherwise permitted under the terms of this Agreement; and (en) unsecured Indebtedness of the Loan Parties and their Subsidiaries not otherwise permitted by this Section in an amount not to exceed $500,000 200,000 in the aggregate at any one time outstanding.

Borrowings and Guaranties. No Loan Party None of the Borrowers shall, nor shall it they permit any of its their respective Subsidiaries to, issue, incur, assume, create or have outstanding any Indebtedness, or incur liabilities under any Hedging Agreement, or be or become liable as endorser, guarantor, surety or otherwise for any Indebtedness debt, obligation or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any claim or demand it may have to the claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: : (a) the Secured Obligations of the Loan Parties and their Subsidiaries owing to the Administrative Agent and the Lenders (and their Affiliates); Obligations; (b) purchase money indebtedness and indebtedness, Capitalized Lease Obligations or other indebtedness of the Loan Parties LoJack and their its Subsidiaries in an amount not to exceed the Dollar Equivalent of $10,000,000 2,000,000 in the aggregate at any one time outstanding; ; (c) obligations of the Loan Parties and their Subsidiaries arising out of non-speculative interest rate, foreign currency, and commodity Hedging Agreements hedging agreements entered into with financial institutions in connection with bona fide hedging activities in the ordinary course of business and not for speculative purposes; business; (d) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; and (e) unsecured Indebtedness of the Loan Parties and their Subsidiaries not otherwise permitted intercompany advances from time to time owing by this Section in an amount not any Guarantor to exceed $500,000 in the aggregate at LoJack or another Guarantor or Borrower, or owing by LoJack or any one time outstanding.Guarantor to any Borrower;

Borrowings and Guaranties. No Loan Party shallThe Borrower shall not, nor shall it permit any of its Subsidiaries Subsidiary to, issue, incur, assume, create or have outstanding any Indebtedness, or incur liabilities under any Hedging AgreementIndebtedness for Borrowed Money, or be or become liable as endorser, guarantor, surety or otherwise for any Indebtedness debt, obligation or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any claim or demand it may have to the claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Secured Obligations Obligations, Hedging Liability, and Funds Transfer and Deposit Account Liability of the Loan Parties Borrower and their its Subsidiaries owing to the Administrative Agent and the Lenders (and their Affiliates); (b) purchase money indebtedness and Capitalized Lease Obligations of the Loan Parties Borrower and their its Subsidiaries in an amount not to exceed $10,000,000 40,000,000 in the aggregate at any one time outstanding; (c) obligations of the Loan Parties and their Subsidiaries Borrower arising out of interest rate, foreign currency, and commodity Hedging Agreements hedging agreements entered into with financial institutions in connection with bona fide hedging activities in the ordinary course of business and not for speculative purposesbusiness; (d) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; and; (e) indebtedness from time to time owing by any Subsidiary to the Borrower; (f) indebtedness secured by Liens permitted by Section 8.8(h) hereof; (g) unsecured Indebtedness indebtedness of the Loan Parties Borrower and their its Subsidiaries not otherwise permitted by this Section in an amount not to exceed $500,000 5,000,000 in the aggregate at any one time outstanding; and (h) guarantees existing on the Closing Date and listed on Schedule 8.7 hereto.

Borrowings and Guaranties. No Loan Party shallThe Credit Parties shall not, nor shall it they permit any of its Subsidiaries Subsidiary to, issue, incur, assume, create or have outstanding any Indebtedness, or incur liabilities under any Hedging AgreementIndebtedness for Borrowed Money, or be or become liable as endorser, guarantor, surety or otherwise for any Indebtedness debt, obligation or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any claim or demand it may have to the claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Secured Obligations Obligations, Hedging Liability, and Funds Transfer and Deposit Account Liability of the Loan Parties Borrowers and their Subsidiaries owing to the Administrative Agent and the Lenders (and their Affiliates); (b) the Guaranties; (c) purchase money indebtedness and Capitalized Lease Obligations of the Loan Parties Borrower and their its Subsidiaries in an amount not to exceed $10,000,000 500,000 in the aggregate at any one time outstanding; (c) obligations of the Loan Parties and their Subsidiaries arising out of interest rate, foreign currency, and commodity Hedging Agreements entered into with financial institutions in connection with bona fide hedging activities in the ordinary course of business and not for speculative purposes; (d) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; and; (e) unsecured Indebtedness of intercompany indebtedness among the Loan Parties Company and their Subsidiaries its Subsidiaries, provided that any such indebtedness shall be fully subordinated to the Obligations on terms reasonably satisfactory to the Administrative Agent; and (f) other unsecured indebtedness and guaranty obligations not otherwise permitted by this Section in an amount not to exceed $500,000 1,000,000 in the aggregate at any one time outstanding.