Indebtedness of a Subsidiary of the Borrower to the Borrower or to another Subsidiary of the Borrower or the Indebtedness of the Borrower to a Subsidiary of the Borrower;
Indebtedness of a Subsidiary of Borrower owed to Borrower or a wholly owned Subsidiary of the Borrower or Indebtedness of Borrower owed to a Subsidiary of Borrower, which Indebtedness shall (i) in the case of Indebtedness owed to Borrower or a Guarantor, be pledged under the Security Agreement, (ii) be on terms (including subordination terms) reasonably acceptable to the Agent, and (iii) be otherwise permitted under the provisions of Section 7.10;
Indebtedness of a Subsidiary to the Borrower or a wholly-owned Subsidiary of the Borrower so long as such Indebtedness is held by the Borrower or a wholly-owned Subsidiary of the Borrower and is subject to no Lien (other than any Lien permitted by Section 7.2) held by any Person other than the Borrower or a wholly-owned Subsidiary of the Borrower; provided that if as of any date any Person other than the Borrower or a wholly-owned Subsidiary of the Borrower owns or holds any such Indebtedness or holds a Lien (other than any Lien permitted by Section 7.2) in respect of such Indebtedness such date shall be deemed an incurrence of Indebtedness not permitted under this Agreement unless such Indebtedness is otherwise permitted under Section 7.1(c) or (h);
Indebtedness of a Subsidiary owing to Holdings or another Subsidiary; provided that if a Credit Party incurs such Indebtedness owing to a Subsidiary that is not a Credit Party, such Indebtedness is subordinated in right of payment to the Guarantee of such Guarantor or the Obligations of the applicable Borrower, as the case may be, pursuant to subordination terms in form and substance acceptable to the Required Lenders; provided, further, that any subsequent transfer of any such Indebtedness (except to Holdings or another Subsidiary) shall be deemed, in each case to be an incurrence of such Indebtedness not permitted by this clause (h);
Indebtedness of a Subsidiary of Borrower acquired after the Closing Date and Indebtedness of a Person merged or consolidated with or into Borrower or a Subsidiary of Borrower after the Closing Date, which Indebtedness in each case exists at the time of such acquisition, merger or consolidation and was not created or incurred in contemplation of such acquisition, merger or consolidation and where such acquisition, merger or consolidation is not prohibited under this Agreement; and
Indebtedness of a Subsidiary of the Borrower acquired pursuant to a Permitted Acquisition (or Indebtedness assumed at the time of a Permitted Acquisition of an asset securing such Indebtedness) or any extension, renewal, refinancing or replacement thereof for the same or lesser amount, provided that (x) such Indebtedness was not incurred in connection with, or in anticipation or contemplation of, such Permitted Acquisition, (y) such Indebtedness does not constitute debt for borrowed money (other than debt for borrowed money incurred in connection with industrial revenue or industrial development or similar bond financings), it being understood and agreed that Capitalized Lease Obligations and purchase money Indebtedness shall not constitute debt for borrowed money for purposes of this clause (y), and (z) at the time of such Permitted Acquisition, such Indebtedness does not exceed 10% of the total value of the assets of the Subsidiary so acquired, or of the asset so acquired, as the case may be;
Indebtedness of a Subsidiary of the Borrower to the Borrower or any other Subsidiary of the Borrower which is a guarantor of the Obligations.
Indebtedness of a Subsidiary owing to any other Subsidiary or to the Borrower, provided that (i) in the case of Indebtedness of a Subsidiary which is not a Guarantor owing to a Loan Party, such Indebtedness shall be evidenced by one or more promissory notes that are pledged to the Administrative Agent for the benefit of the Secured Parties pursuant to the Collateral Documents, (ii) in the case of any Indebtedness owing by a Loan Party to any Subsidiary that is not a Guarantor, such Indebtedness shall be on terms (including subordination terms) reasonably satisfactory to the Administrative Agent and (iii) such Indebtedness shall be otherwise permitted under the provisions of Section 7.04;
Indebtedness of a Subsidiary incurred in the ordinary course of business under any lease of any Aircraft or Engine pursuant to which such Subsidiary is the lessor;
Indebtedness of a Subsidiary of the Borrower owed to the Borrower or a Restricted Subsidiary of the Borrower, which Indebtedness shall (i) in the case of Indebtedness owed to a Loan Party, constitute “Pledged Debt” under the Security Agreement, (ii) if owed to a Restricted Subsidiary that is not a Guarantor, be on the same subordination terms as those contained in the Subsidiary Guaranty and (iii) if owed to the Borrower or a Restricted Subsidiary, be otherwise permitted under the provisions of Section 7.03;
