Common use of Disqualified Capital Stock of such Person Clause in Contracts

Disqualified Capital Stock of such Person. (i) any Indebtedness (as described in the other clauses of this definition) of a partnership for which such Person is liable either by agreement or because of a Governmental Requirement but only to the extent of the maximum liability of such Person under such agreement or Governmental Requirement; and (j) all net xxxx to market obligations of such Person under Hedging Agreements; provided that any agreement by the Borrower or any Restricted Subsidiary to repurchase equipment in a Permitted Sale for Lease Transaction at a price not greater than its fair market value shall not constitute Indebtedness. Notwithstanding the foregoing and for the avoidance of doubt, the term “Indebtedness” does not include (i) endorsements of checks, bills of exchange and other instruments for deposit or collection in the ordinary course of business and such other obligations owed on a short-term basis to banks and other financial institutions incurred in connection with ordinary banking arrangements to manage cash balances of such Person; (ii) taxes, assessments or other similar governmental charges or claims; (iii) any obligation arising from any agreement providing for indemnities, purchase price adjustments, holdbacks, contingency payment obligations based on the performance of the acquired or Disposed of assets or similar obligations (other than (x) guarantees of Indebtedness and (y) any such obligations that will become non-contingent obligations solely as a result of the passage of time and are reflected as current liabilities on the balance sheet of such Person (the obligations described in this clause (y) being referred to as “Specified Contingent Obligations”)) incurred by the specified Person in connection with the acquisition or Disposition of assets and (iv) any obligation 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; provided that such obligation is extinguished within five Business Days of its incurrence. The term “Indebtedness” also excludes any repayment or reimbursement obligation of such Person or any of its Restricted Subsidiaries with respect to Customary Recourse Exceptions, unless and until an event or circumstance occurs that triggers the Person’s or such Restricted Subsidiary’s direct repayment or reimbursement obligation (as opposed to contingent or performance obligations) to the lender or other Person to whom such obligation is actually owed, in which case the amount of such direct payment or reimbursement obligation shall constitute Indebtedness.

Disqualified Capital Stock of such Person. (i) any Indebtedness (as described in the other clauses of this definition) of a partnership for which such Person is liable either by agreement or because of a Governmental Requirement but only to the extent of the maximum liability of such Person under such agreement or Governmental Requirement; and (j) all net xxxx to market obligations of such Person under Hedging Agreements; provided that any agreement by the Borrower or any Restricted Subsidiary to repurchase equipment in a Permitted Sale for Lease Transaction at a price not greater than its fair market value shall not constitute Indebtedness. Notwithstanding the foregoing and for the avoidance of doubt, the term “Indebtedness” does not include (i) endorsements of checks, bills of exchange and other instruments for deposit or collection in the ordinary course of business and such other obligations owed on a short-term basis to banks and other financial institutions incurred in connection with ordinary banking arrangements to manage cash balances of such Person; (ii) taxes, assessments or other similar governmental charges or claims; (iii) any obligation arising from any agreement providing for indemnities, purchase price adjustments, holdbacks, contingency payment obligations based on the performance of the acquired or Disposed of assets or similar obligations (other than (x) guarantees of Indebtedness and (y) any such obligations that will become non-contingent obligations solely as a result of the passage of time and are reflected as current liabilities on the balance sheet of such Person (the obligations described in this clause (y) being referred to as “Specified Contingent Obligations”)) incurred by the specified Person in connection with the acquisition or Disposition of assets and (iv) any obligation 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; provided that such obligation is extinguished within five Business Days of its incurrence. The term “Indebtedness” also excludes any repayment or reimbursement obligation of such Person or any of its Restricted Subsidiaries with respect to Customary Recourse Exceptions, unless and until an event or circumstance occurs that triggers the Person’s or such Restricted Subsidiary’s direct repayment or reimbursement obligation (as opposed to contingent or performance obligations) to the lender or other Person to whom such obligation is actually owed, in which case the amount of such direct payment or reimbursement obligation shall constitute Indebtedness.

Disqualified Capital Stock of such Person. (i) any Indebtedness (as described in the other clauses of this definition) of a partnership for which such Person is liable either by agreement or because of a Governmental Requirement but only to the extent of the maximum liability of such Person under such agreement or Governmental Requirement; and (j) all net xxxx to market obligations of such Person under Hedging Agreements; provided that any agreement by the Borrower or any Restricted Subsidiary to repurchase equipment in a Permitted Sale for Lease Transaction at a price not greater than its fair market value shall not constitute Indebtedness. Notwithstanding the foregoing and for the avoidance of doubt, the term “Indebtedness” does not include (i) endorsements of checks, bills of exchange and other instruments for deposit or collection in the ordinary course of business and such other obligations owed on a short-term basis to banks and other financial institutions incurred in connection with ordinary banking arrangements to manage cash balances of such Person; (ii) taxes, assessments or other similar governmental charges or claims; (iii) any obligation arising from any agreement providing for indemnities, purchase price adjustments, holdbacks, contingency payment obligations based on the performance of the acquired or Disposed of assets or similar obligations (other than (x) guarantees of Indebtedness and (y) any such obligations that will become non-contingent obligations solely as a result of the passage of time and are reflected as current liabilities on the balance sheet of such Person (the obligations described in this clause (y) being referred to as “Specified Contingent Obligations”)) incurred by the specified Person in connection with the acquisition or Disposition of assets and (iv) any obligation 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; provided that such obligation is extinguished within five (5) Business Days of its incurrence. The term “Indebtedness” also excludes any repayment or reimbursement obligation of such Person or any of its Restricted Subsidiaries with respect to Customary Recourse Exceptions, unless and until an event or circumstance occurs that triggers the Person’s or such Restricted Subsidiary’s direct repayment or reimbursement obligation (as opposed to contingent or performance obligations) to the lender or other Person to whom such obligation is actually owed, in which case the amount of such direct payment or reimbursement obligation shall constitute Indebtedness.