Current Debt. The aggregate amount of current maturities of the consolidated Debt of the Borrower and its Subsidiaries, determined in accordance with GAAP............................
Current Debt. The Company will not and will not permit any Restricted Subsidiary to have outstanding or in any other manner be liable in respect of any Current Debt of the type described in clause (a) of the definition of "Debt" (excluding, in any case, from such Debt the Current Maturities of Funded Debt) unless during the period of 12 consecutive calendar months then most recently ended there shall have been a period of at least 45 consecutive days during which no Consolidated Current Debt of the type described in clause (a) of the definition of "Debt" (excluding, in any case, from such Debt the Current Maturities of Funded Debt) shall have been outstanding on each day of such period.
Current Debt. The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly, create, incur, assume, guarantee, or otherwise become directly or indirectly liable with respect to, any Current Debt, other than Existing Current Debt, Inter-Company Debt and Swaps, unless, immediately after giving effect thereto and to the application of the proceeds thereof,
(a) no Default or Event of Default exists, and
(b) there shall have been a period of 30 consecutive days during the period of 12 consecutive months then most recently ended on each day of which either
(i) no Consolidated Current Debt was outstanding, or
(ii) the Company or such Restricted Subsidiary could have incurred (but did not incur) Senior Funded Debt pursuant to Section 10.1 in an amount not less than the amount of Consolidated Current Debt outstanding on such day. Any Person becoming a Restricted Subsidiary at any time shall be deemed to have incurred at such time all of its Debt outstanding at such time.
Current Debt. The Borrower shall be permitted to incur Current Debt, PROVIDED that the Borrower will have no Current Debt outstanding on any day unless during the twelve-consecutive-month period preceding such day, the aggregate principal amount of the Borrower's Current Debt outstanding shall have been $5,000,000 or less on each day during a period of at least forty-five consecutive days. For purposes of this section only, the unpaid principal amount of the Notes shall be considered Current Debt, and the Borrower's Senior Notes due 1995, originally issued pursuant to the Note Purchase Agreements, dated as of December 15, 1990, shall not be considered Current Debt at any time during the one-year period prior to their scheduled maturity date of December 15, 1995.
Current Debt. Borrower will not incur any Current Debt other than the current portion of the Obligations and indebtedness incurred in the ordinary course of business payable within one (1) year.
Current Debt. No Company shall, at any date, create, incur or have outstanding any Current Debt of any kind unless, on the date such Company becomes liable for such Current Debt, no Default or Event of Default shall exist on such date and there shall have been a period of thirty (30) consecutive days occurring in the twelve consecutive calendar months most recently ended (or on such date if such date shall be the last day of a calendar month) on each day of which Consolidated Current Debt shall not have been in excess of the amount of Long-Term Funded Debt that the Companies could have incurred, but did not incur, on such day in accordance with subpart (a)(v) above.
Current Debt. The Company will not, and will not permit any Subsidiary to, directly or indirectly, create, incur, assume, guarantee, or otherwise become directly or indirectly liable with respect to, any Current Debt unless, there shall have been during the immediately preceding 12 month period, a period of not less than 30 consecutive days on each of which there shall have been no Consolidated Current Debt outstanding in excess of the amount of additional Consolidated Funded Debt that the Company and its Subsidiaries would have been permitted to incur (but did not incur) on such day under Section 10.6.
Current Debt or Funded Debt of a Restricted Subsidiary to the Company or to a Wholly-owned Restricted Subsidiary.
Current Debt. As of the Closing Date, Deep Rock’s outstanding debt includes: (a) an invoice of approximately One Thousand dollars and no/100 ($1,000.00) due the Company’s accountant, Xxxxxxx Xxxxxxxxx, of Xxxxxx Xxxxxxxxx, CPA, located at 000 X. Xxxxxxxx Rd., Ste 125, Meridian, Idaho 83642; (b) approximately Two Hundred dollars and no/100 ($200.00) due to Idaho Power for the period November 4, 2008 through December 5, 2008; and (c) and a current invoice is pending from the repair of a compressor wheel mounting which shall be complete after Closing. Seller represents and warrants that Deep Rock has no other outstanding debts or financial obligations. Seller shall indemnify, defend and hold harmless Purchaser from any and all claims, losses, damages or litigation in any way arising out of or pertaining to any outstanding financial obligations of the Company prior to the Closing Date. Copies of these outstanding debts are attached hereto as Exhibit E. Immediately following Closing or upon receipt, Purchaser shall pay all of the fore-mentioned debts in full.
Current Debt. In the absence of the occurrence after the date hereof of any event of default or other event causing the acceleration of such indebtedness (which the Company does not reasonably expect), the Company is not obligated (and will not become obligated with notice or the passage of time or both) to pay any amounts to London Pacific (under the convertible debentures issued to it or otherwise) until April 30, 2002.
