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Common use of No Debt Clause in Contracts

No Debt. Tenant shall not create, incur, assume, or permit to exist any indebtedness related to the Facility other than [i] trade debt incurred in the ordinary course of Tenant's business; [ii] indebtedness for Facility working capital purposes in an amount not to exceed $150,000.00; [iii] indebtedness that is secured by any Permitted Lien; and [iv] unsecured indebtedness that will not cause Tenant to be in violation of Section 15.7.

Appears in 2 contracts

Samples: Lease Agreement (Alterra Healthcare Corp), Lease Agreement (Alterra Healthcare Corp)

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No Debt. Tenant shall not create, incur, assume, or permit to exist any indebtedness related to the any Facility other than [i] trade debt incurred in the ordinary course of Tenant's business; [ii] indebtedness for Facility working capital purposes in an amount not to exceed $150,000.00; [iii] indebtedness relating to the Letter of Credit; [iv] indebtedness that is secured by any Permitted Lien; and [ivv] unsecured indebtedness that will not cause Tenant to be in violation of Section 15.7.

Appears in 1 contract

Samples: Master Lease Agreement (Brookdale Senior Living Inc.)

No Debt. Tenant shall not create, incur, assume, or permit to exist any indebtedness related to the any Facility other than [i] trade debt incurred in the ordinary course of Tenant's business; [ii] indebtedness for Facility working capital purposes in an amount not to exceed $150,000.00; [iii] indebtedness relating to the Letter of Credit; [iv] indebtedness that is secured by any Permitted Lien; and [ivv] unsecured indebtedness that will not cause Tenant to be in violation of Section §15.7.

Appears in 1 contract

Samples: Master Lease Agreement (Alterra Healthcare Corp)

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No Debt. Tenant shall not create, incur, assume, or permit to exist any indebtedness related to the Facility other than [i] trade debt incurred in the ordinary course of Tenant's business; [ii] indebtedness for Facility working capital purposes in an amount not to exceed $150,000.00; [iii] indebtedness relating to the Letter of Credit; [iv] indebtedness that is secured by any Permitted Lien; and [ivv] unsecured indebtedness that will not cause Tenant to be in violation of Section 15.7.

Appears in 1 contract

Samples: Lease Agreement (Alterra Healthcare Corp)

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