Lease Indebtedness Sample Clauses

Lease Indebtedness. The principal amount of Indebtedness in the form of Lease Indebtedness shall be deemed to be the aggregate present value amount, as of the date of determination, due and to become due under such Lease Indebtedness that would be recognized as a lease liability on the balance sheet or statement of financial position of the lessee under GAAP, and the Debt Service Requirements on a Lease Indebtedness for the period of time for which calculated shall be deemed to be the aggregate present value amount of such lease liability to be payable under such Lease Indebtedness during such period. Notwithstanding the foregoing, at the option of the Corporation, for purposes of this Loan Agreement and the calculations hereunder: (i) the principal amount of Indebtedness of any Lease Indebtedness and the principal portion of the Debt Service Requirements for such Lease Indebtedness may be limited to the principal portion of the related lease liability, (ii) the interest portion of the Debt Service Requirements for such Lease Indebtedness may be limited to the interest portion of the related lease liability, (iii) any lease constituting an operating or financing lease under GAAP, may be excluded from Lease Indebtedness, Indebtedness and Debt Service Requirements, (iv) Lease Indebtedness in an aggregate Outstanding principal amount not greater than 5% of the Revenues, for the most recent fiscal year for which audited financial statements are available, may be excluded from Lease Indebtedness, Indebtedness and Debt Service Requirements, (v) all or any portion of a lease to the extent such lessee’s liability for which has been prepaid or subleased, assigned or otherwise assumed by a Person other than such lessee may be excluded from Lease Indebtedness, Indebtedness and Debt Service Requirements, (vi) any extension options which have not yet been exercised by the Corporation may be disregarded, and (vii) any changes to GAAP for leases may be disregarded, and any relief under GAAP relating to implementation of changes to GAAP for leases may be applied under this Loan Agreement to all or any portion of any lease regardless of whether such election has been or will be made in connection with audited financial statements.
Sample 1
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Lease Indebtedness. The Corporation may incur Indebtedness in the form of Lease Indebtedness pursuant to any other Subsection of this Section upon satisfaction of the conditions specified in such Subsection. Leases that do not constitute Lease Indebtedness are not limited by this Section.
Sample 1

Related to Lease Indebtedness

  • Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except:

  • Additional Indebtedness This Indenture does not restrict the Corporation from incurring additional indebtedness for borrowed money or other obligations or liabilities (including Senior Indebtedness) or mortgaging, pledging or charging its properties to secure any indebtedness or obligations or liabilities.

  • Additional Debt The Borrower will, promptly upon execution thereof, deliver to the Administrative Agent a copy of each Material Debt Financing Document (excluding, for the avoidance of doubt, commitment letters, fee letters and similar letters with respect to the arrangement, establishment, syndication, or underwriting of any additional Debt); provided, that the Borrower shall have the right to redact any provision set forth in such Material Debt Financing Documents to the extent necessary to comply with binding confidentiality obligations or to protect proprietary market information. Each notice pursuant to this Section shall be accompanied by a written statement of an Authorized Officer of the Borrower (x) that such notice is being delivered pursuant to Section 5.03(a), (b) or (c) (as applicable) and (y) in the case of any notice pursuant to Section 5.03(a)(i), (iv), (v) or (vii), setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto. Documents required to be delivered hereto (including pursuant to Section 5.02 and Section 5.03) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address listed in Section 9.01; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third‑party website or whether sponsored by the Administrative Agent), provided that the Borrower shall notify the Administrative Agent (by hand delivery, facsimile or electronic mail) of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Notwithstanding anything contained herein, the Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.

  • Payment of Indebtedness Pledgor will pay the principal sum of the Note secured hereby, together with interest thereon, at the time and in the manner provided in the Note.

  • Subordinated Debt (a) Make or permit any payment on any Subordinated Debt, except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof or adversely affect the subordination thereof to Obligations owed to Bank.

  • Evidence of Indebtedness (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such Lender, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.

  • Money Back Guarantee If we provide a money back guarantee ("MBG") for your Service, it will begin on your Service Ready Date. During this MBG period you may cancel your Service and receive a full refund of all monthly, one-time and equipment charges paid to Verizon (provided you return all Equipment in good working condition). If you fail to return the Equipment, an unreturned Equipment fee will apply. ETFs will not apply to Service terminated within the MBG period. The MBG does not apply to customers who change between or renew bundle, monthly, term or other pricing plans. The MBG is limited to one per Subscriber per Service type per Service address.

  • Limitation on Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except:

  • Basic Obligations (1) The Authority shall carry out international search and international preliminary examination in accordance with, and perform such other functions of an International Searching Authority and International Preliminary Examining Authority as are provided under, the Treaty, the Regulations, the Administrative Instructions and this Agreement.

  • Debt Due (a) If the LHIN requires the re-payment by the HSP of any Funding, the amount required will be deemed to be a debt owing to the Crown by the HSP. The LHIN may adjust future funding instalments to recover the amounts owed or may, at its discretion direct the HSP to pay the amount owing to the Crown and the HSP shall comply immediately with any such direction.

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