Indebtedness of a Person that becomes a Subsidiary after the Effective Date as the result of a Permitted Acquisition; provided that such Indebtedness existed at the time such Person became a Subsidiary and was not created in anticipation of, in contemplation of or in connection with such Person becoming a Subsidiary;
Indebtedness of a Person existing at the time such Person became a Subsidiary of a Borrower to the extent such Indebtedness was not incurred in connection with, or in contemplation of, such Person becoming a Subsidiary, in an amount not to exceed $3,500,000;
Indebtedness of a Person which becomes a Subsidiary after the date hereof, provided that (i) such Indebtedness existed at the time such corporation became a Subsidiary and was not created in anticipation thereof and (ii) immediately after giving effect to the acquisition of such Person by the Company, no Default or Event of Default shall have occurred and be continuing;
Indebtedness of a Person to the Borrower or to a Subsidiary of the Borrower that is secured by a Lien on one or more Hotel Properties owned by such Person, which Hotel Properties (A) were previously owned by the Borrower or a Subsidiary of the Borrower or (B) the Borrower reasonably expects to acquire (through trustee's sale, foreclosure, deed in lieu of foreclosure or otherwise), provided, however, that the aggregate amount of all Investments permitted under -------- ------- this clause (g) shall not at any time exceed an amount equal to five percent (5%) of the Cost Basis in all the Parent's or the Parent's Subsidiaries Hotel Properties;
Indebtedness of a Person. (other than the Borrower or a Subsidiary) existing at the time such Person is merged with or into a Borrower or a Subsidiary or becomes a Subsidiary, provided that (i) such Indebtedness was not, in any case, incurred by such other Person in connection with, or in contemplation of, such merger or acquisition, (ii) such merger or acquisition constitutes a Permitted Acquisition, (iii) with respect to any such Person who becomes a Subsidiary, (A) such Subsidiary is the only obligor in respect of such Indebtedness, and (B) to the extent such Indebtedness is permitted to be secured hereunder, only the assets of such Subsidiary secure such Indebtedness, and (iv) the aggregate principal amount of such Indebtedness shall not exceed $1,000,0005,000,000 at any time outstanding; (k) Indebtedness in the form of purchase price adjustments, earn outs, deferred compensation, or other arrangements representing acquisition consideration or deferred payments of a similar nature incurred in connection with Investments permitted by Section 7.8; provided that the
Indebtedness of a Person existing at the time such Person became a Restricted Subsidiary or property was acquired from such Person to the extent such Indebtedness was not incurred in connection with or in contemplation of, such Person becoming a Restricted Subsidiary or the acquisition of such property, not to exceed in an aggregate principal amount at any time outstanding $75,000,000 and any Permitted Refinancing Indebtedness related thereto (it being understood that any accrued but unpaid interest and the amount of all expenses and premiums incurred in connection therewith added to any principal amount shall not constitute an increment in principal for purposes of this paragraph);
Indebtedness of a Person existing at the time of its becoming an Acquired Person as a result of a Permitted Acquisition; provided, however, that
(i) such Indebtedness existed at the time such Person became an Acquired Person or at the time such assets were acquired and, in each case, was not created in anticipation thereof,
(ii) such Indebtedness is not guaranteed in any respect by the Borrower or any other Restricted Subsidiary (other than any other Acquired Person which was the parent or a Subsidiary of the Person so being acquired and it being understood that a merger does not constitute a guarantee),
(iii) if such Person becomes a Restricted Subsidiary, concurrently therewith, the requirements of Section 7.1.8 are satisfied to the extent required thereby, and
(iv) if such Indebtedness subordinates the rights of the holders thereof to any other creditors, such Indebtedness qualifies as Permitted Acquisition Subordinated Indebtedness;
Indebtedness of a Person. (other than any Acquired Subsidiary) which becomes a Restricted Subsidiary after the date hereof, provided that (i) such indebtedness existed at the time such Person became a Restricted Subsidiary and was not created in anticipation thereof, (ii) immediately after giving effect to the acquisition of such Person by the Borrower or its Restricted Subsidiary, no Default or Event of Default shall have occurred and be continuing, (iii) immediately after giving effect to the acquisition of such Person by the Borrower or its Restricted Subsidiary, the Borrower and its Restricted Subsidiaries shall be in pro forma compliance with the covenants contained in subsection 7.1, calculated based on the relevant financial statements delivered pursuant to subsection 6.1, as though such acquisition occurred at the beginning of the period covered thereby, as evidenced by a certificate of a Responsible Officer of the Borrower furnished to the Administrative Agent demonstrating such compliance; and (iv) at no time shall all such Indebtedness permitted under this subsection (c) exceed $200,000,000 in the aggregate outstanding.
Indebtedness of a Person existing as of the time of the Acquisition of such Person by Borrower or any Guarantor, provided that, after giving effect to such Acquisition, Borrower is in compliance with the terms of this Agreement (including without limitation the Financial Covenant Tests).
Indebtedness of a Person which becomes a Subsidiary of a Credit Party after the Closing Date; provided, that (i) such Indebtedness existed at the time the Person became a Subsidiary and was not created in anticipation of the acquisition of such Person, (ii) immediately after giving effect to the acquisition of such Person by a Credit Party, no Default or Event of Default shall have occurred and be continuing and (iii) such Indebtedness is non-recourse to the Borrower or any other Credit Party (other than such Person and its Subsidiaries to the extent such Indebtedness was with recourse to such Subsidiaries at the time such Person became a Subsidiary of a Credit Party);
