Indebtedness of Subsidiaries of the Borrower owing to the Borrower or a Subsidiary Guarantor to the extent permitted by clause (e) of Section 7.2.5;
Indebtedness of Subsidiaries of the Borrower owing to the Borrower or to other Subsidiaries of the Borrower and Indebtedness of the Borrower owing to any of the Designated SBG Subsidiaries; provided that any Indebtedness of the Borrower owing to any Subsidiary that is not a Guarantor (i) shall be made pursuant to an intercompany note in the form and substance satisfactory to the Administrative Agent and shall be subordinated in right of payment from and after such time as the Loans shall become due and payable (whether at maturity, acceleration or otherwise) to the payment and performance of the Obligations and (ii) that is disposed, pledged or transferred (other than a disposition, pledge or transfer to a wholly-owned Subsidiary or a pledge to benefit the Secured Parties or the holders of the Initial Second Priority on a second-priority basis) will be deemed to be Indebtedness not permitted by this clause (c);
Indebtedness of Subsidiaries of the Borrower to the Borrower so long as (a) such Subsidiary has made a guaranty in favor of the Banks and the Agent pursuant to which such Subsidiary guaranties to the Banks and the Agent the payment and performance of the Obligations in form and substance satisfactory to the Banks and the Agent and (b) the obligations of such Subsidiary (other than the Funding Subsidiaries and Credident) under such guaranty are in turn secured by a perfected first priority security interest (subject only to the Permitted Liens entitled to priority under applicable law) in all the assets of such Subsidiary, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Subsidiary is a party;
Indebtedness of Subsidiaries of the Borrower under the MSR Documents in respect of the MSR Loans incurred by such Subsidiaries so long as (A) no Default or Event of Default then exists or would result therefrom, (B) calculations are made by the Borrower with respect to the financial covenants contained in Section 6.08 and 6.09 for the respective Calculation Period on a Pro Forma Basis as if the respective incurrence of such Indebtedness (as well as all other MSR Loans and other Indebtedness theretofore incurred after the first day of such Calculation Period) had occurred on the first day of (and had remained outstanding throughout) such Calculation Period, and such calculations shall show that such financial covenants would have been complied with as of the last day of such Calculation Period, (C) the proceeds of such MSR Loans are used solely to finance the acquisition of Servicing Rights by such Subsidiaries and (D) prior to the incurrence of such Indebtedness, the Borrower shall have delivered to the Administrative Agent a certificate from an Authorized Officer of the Borrower certifying as to compliance with the requirements of preceding sub-clauses (A), (B) and (C) and containing the calculations (in reasonable detail) required to establish compliance with preceding sub-clause (B);
Indebtedness of Subsidiaries of the Borrower. Agent that are not organized or incorporated under the laws of a Security Jurisdiction in an aggregate amount not to exceed $10,000,000 at any time outstanding;
Indebtedness of Subsidiaries of the Borrower owing to the Borrower or to other Subsidiaries of the Borrower and Indebtedness of the Borrower owing to any of the Designated SBG Subsidiaries;
Indebtedness of Subsidiaries of the Borrower owing to foreign affiliates of the Managing Agent for reimbursement obligations in respect of guaranties issued by such affiliates and backed by a Letter of Credit issued hereunder, in an aggregate principal amount not to exceed $10,000,000 (all amounts denominated in currencies other than Dollars being expressed at their Dollar Equivalent); (e) Indebtedness of any Unrestricted Subsidiary which is non-recourse to the Borrower and its other Subsidiaries (except that the capital stock of such Unrestricted Subsidiary may be pledged by
Indebtedness of Subsidiaries of the Borrower to the Borrower; and
Indebtedness of Subsidiaries of the Borrower owing to the Borrower and unsecured Indebtedness of the Borrower owing to its Subsidiaries; provided that such Indebtedness is evidenced by promissory notes which are pledged to the Agent concurrently with the incurrence of such Indebtedness by such Subsidiary, for the benefit of the Lenders, under the Borrower Pledge Agreement or Xxxxx Pledge Agreement, as the case may be;
Indebtedness of Subsidiaries of the Borrower not otherwise permitted by the foregoing clauses of this Section; provided that the aggregate principal amount of such additional Indebtedness of all such Subsidiaries at any one time outstanding permitted under this clause (vii) does not exceed $10,000,000.
