Debt and Liens Sample Clauses

Debt and Liens. Corporation will in reasonable time and due manner inform the Purchaser of any new liens and debts incurred by the Corporation and/or its Subsidiaries while the Principal and accrued Interest is outstanding.

Debt and Liens. Schedule 4.14 is a complete and correct list of each item of Consolidated Total Debt of the Borrower and its Consolidated Subsidiaries in excess of $100,000 (setting forth with respect to each such item the amount and stated maturity of Consolidated Total Debt outstanding, the identity of the Person to whom such Consolidated Total Debt is owed and the date such Consolidated Total Debt was incurred) and each Lien securing any such Debt (setting forth with respect to each such Lien the property subject to such Lien) as of the Closing Date; provided that the aggregate amount of Consolidated Total Debt excluded from this sentence by virtue of being $100,000 or less shall not exceed $5,000,000. The Borrower and its Consolidated Subsidiaries have complied in all material respects with all of the terms of such Debt and Liens and all instruments and agreements relating thereto, and no default or event of default, or event or condition which with notice or lapse of time or both would constitute such a default or event of default on the part of the Borrower or its Consolidated Subsidiaries exists with respect to any such Debt or Lien. None of the properties and assets of the Borrower or any Subsidiary thereof is subject to any Lien, except Liens permitted pursuant to Section 5.13.

Debt and Liens. The Borrowers and their Subsidiaries have no Debt as defined in the Credit Agreement, except as disclosed below: LENDER COLLATERAL/LIEN ------ --------------- 1. MR. & MRS. XXXXXX XXXXXXX 3 1/2 acres of land @ MORTGAGE - Dickxxx XXX 4001 Xxxxxxxx Xxxxxxx $313,786 OUTSXXXXXXX XX 00-00-00 Xxx Orleans, LA

Debt and Liens. (a) Part I of Schedule 4.11(a) hereto is a complete and correct list, as of the date of this Agreement, of each credit agreement, loan agreement, indenture, securities purchase agreement, Guarantee, letter of credit or other arrangement providing for or otherwise relating to any Debt or any extension of credit (or commitment for any extension of credit) to, or Guarantee by, the Borrower or any of its Subsidiaries the aggregate principal or face amount of which equals or exceeds (or may equal or exceed) $1,000,000, and the aggregate principal or face amount outstanding or that may become outstanding under each such arrangement is correctly described in Part II of Schedule 4. 11(a). (b) Part I of Schedule 4.11(b) hereto is a complete and correct list, as of the date of this Agreement, of each Lien securing Debt of any Person the aggregate principal or face amount of which equals or exceeds (or may equal or exceed) $1,000,000 and covering any property of the Borrower or any of its Subsidiaries, and the aggregate Debt secured (or which may be secured) by each such Lien and the property covered by each such Lien is correctly described in Part II of Schedule 4.11(b). (c) None of the Borrower and its Subsidiaries is, on the date of this Agreement, party to or subject to any indenture, agreement, instrument or other arrangement of the type described in Section 5.18, except for this Agreement.

Debt and Liens. Incur, suffer or permit any Indebtedness other than Permitted Indebtedness (as defined below). In addition, the Company shall not, shall not permit any Subsidiary to incur, suffer or permit any Liens other than Permitted Liens (as defined below). For purposes of this Agreement, the “Permitted Indebtedness” means (i) Indebtedness existing on the date of this Agreement and reflected on the Company’s most recent balance sheet included in the SEC Documents on the date of this Agreement, and (ii) the Indebtedness set forth on Schedule 4(q)(i), ( “Permitted Liens” means (1) Liens for taxes, assessments and other governmental charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of the Company) have been established in accordance with GAAP, (2) Liens imposed by law which were incurred in the ordinary course of business, such as carriers’, warehousemen’s, materialmen’s and mechanics’ Liens, statutory landlords’ Liens, and other similar Liens arising in the ordinary course of the Company’s business, and which (x) do not individually or in the aggregate materially detract from the value of the property or assets subject to such Lien or materially impair the use thereof in the ordinary course of business or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien, (and (3) Liens existing on the Issuance Date which are disclosed on Schedule 4(q)(i).

Debt and Liens. Schedule 5.1(p) is a complete and correct list, as of the date hereof, of each item of Debt of the Borrower and its Subsidiaries in excess of $100,000 and each Lien securing such Debt, each of which is permitted under the terms of Sections 9.1 and 9.2, respectively. The Borrower and its Subsidiaries have performed and are in compliance with all of the terms of such Debt and Liens and all instruments and agreements relating thereto, and no default or event of default, or event or condition which with notice or lapse of time or both would constitute such a default or event of default on the part of the Borrower or its Subsidiaries exists with respect to any such Debt or Liens. None of the properties and assets of the Borrower or any Subsidiary thereof is subject to any Lien, except for Permitted Liens.

Debt and Liens. The Company and the Company Subsidiaries shall have no Debt other than Permitted Debt, and all obligations of or guarantees by the Company and the Company Subsidiaries in respect of Debt of the Parent and all Liens on the assets of the Company and the Company Subsidiaries (other than Permitted Liens) shall have been terminated or released.

Debt and Liens. As of the date of this Agreement, Xxxxxx does not have any debt except for loans made by an affiliate. There are no liens, charges or encumbrances upon or with respect to any of the properties of Tenant or right to receive revenues of Tenant other than Permitted Liens.

Debt and Liens. LONG AND SHORT TERM DEBT (INCLUDING CAPITALIZED LEASES) SHORT TERM LINE OF CREDIT The Company has a line of credit secured by the accounts receivable of its United States operations (namely ACT Teleconferencing Services, Inc.) bearing interest at 0.5% over prime rate (9% at December 31, 1997). This line of credit contains certain covenants which include the maintenance of certain financial ratios. The Company is in compliance with these ratios and covenants. The line of credit has a borrowing base restricted to qualified accounts receivable up to $500,000. As of December 31, 1997, the outstanding balance under this line of credit was $455,677. At December 31, 1997, the Company had a short term note payable to a telecommunications vendor for $77,577, bearing interest at 10%. This note is collateralized by a second lien over the accounts receivable of ACT Teleconferencing Services and also by a corporate guarantee from ACT Teleconferencing, Inc. This note matures on April 30, 1998 and requires monthly interest and principal payments until that date. SHORT TERM NOTE PAYABLE TO RELATED PARTIES At December 31, 1997, the Company had a 6% note payable to the 20% minority shareholder in ACT Australia (Pty) Limited for $6,762. This loan is expected to be converted to a long term note payable. DECEMBER 31, 1997 1996 --------------------------------------- Long term debt is summarized as follows: Bank note payable, 1.5% over prime, (9.75% at December, 1996) due in monthly principal amounts of $834 plus interest, due August 31, 1999. The loan agreement contains certain covenants, the most restrictive of which includes maintenance of certain financial ratios and a defined borrowing base; additionally, the agreement limits payment of dividends and repurchase or retirement of the Company's stock. - 25,814 Bank note payable, 10% (3.5% over bank's base rate at December 31, 1997) due in monthly installments of $990 plus interest, due December 31, 1998. $ 21,790 $ 28,037 Bank note payable, 14.205%, due in quarterly installments of $20,424 plus interest, due August 31, 1999. 136,158 228,867 Notes payable to vendors bearing interest at rates from 16.125% to 18.102% due in monthly repayments of $3,413 and due July and August, 2002. These notes are collateralized by certain bridging equipment held by ACT Teleconferencing Services, Inc. 133,044 0 Capitalized leases, at interest rates from 5% to 14%, due at various periods through 2002. 321,568 119,340 Capitalized leases, at inter...

Debt and Liens. (i) No Borrower Group Member has any Debt other than Permitted Debt and (ii) there are no Liens (other than Permitted Liens) on (A) any of the Collateral or (B) any other Property of any Borrower Group Member.