Common use of No Debt Clause in Contracts

No Debt. Tenant and Subtenant shall not create, incur, assume, or permit to exist any indebtedness other than [i] trade debt incurred in the ordinary course of business; [ii] indebtedness that is secured by any Permitted Lien; [iii] indebtedness under the LifeCare Credit Facilities (including any modifications, amendments or refinancings thereof); and [iv] LifeCare Senior Subordinated Debt (including any modifications, amendments or refinancings thereof).

Appears in 2 contracts

Samples: Master Lease Agreement (LifeCare Holdings, Inc.), Master Lease Agreement (LifeCare Holdings, Inc.)

AutoNDA by SimpleDocs

No Debt. Tenant and Subtenant shall not create, incur, assume, or permit to exist any indebtedness other than [i] trade debt incurred in the ordinary course of business; [ii] indebtedness relating to the Letter of Credit or Working Capital Letter of Credit; and [iii] indebtedness that is secured by any Permitted Lien; [iii] indebtedness under the LifeCare Credit Facilities (including any modifications, amendments or refinancings thereof); and [iv] LifeCare Senior Subordinated Debt (including any modifications, amendments or refinancings thereof).

Appears in 1 contract

Samples: Master Lease Agreement (LifeCare Holdings, Inc.)

No Debt. Tenant and Subtenant shall not create, incur, assume, or permit to exist any indebtedness other than [i] trade debt incurred in the ordinary course of business; and [ii] indebtedness that is secured by any Permitted Lien; [iii] indebtedness under the LifeCare Credit Facilities (including any modifications, amendments or refinancings thereof); and [iv] LifeCare Senior Subordinated Debt (including any modifications, amendments or refinancings thereof).

Appears in 1 contract

Samples: Master Lease Agreement (Emeritus Corp\wa\)

No Debt. Tenant and Subtenant shall not create, incur, assume, or permit to exist any indebtedness other than [i] trade debt incurred in the ordinary course of business; [ii] indebtedness for Facility working capital purposes in an amount not to exceed $100,000.00 per Facility; [iii] indebtedness relating to the Letter of Credit; and [iv] indebtedness that is secured by any Permitted Lien; [iii] indebtedness under the LifeCare Credit Facilities (including any modifications, amendments or refinancings thereof); and [iv] LifeCare Senior Subordinated Debt (including any modifications, amendments or refinancings thereof).

Appears in 1 contract

Samples: Master Lease Agreement (Capital Senior Living Corp)

AutoNDA by SimpleDocs

No Debt. Tenant and Subtenant shall not create, incur, assume, or permit to exist any indebtedness other than [i] trade debt incurred in the ordinary course of business; [ii] indebtedness that is secured by any Permitted Lien; [iii] indebtedness under the LifeCare Credit Facilities (including any modifications, amendments or refinancings thereof); and [iv] LifeCare Senior Subordinated Debt (including any modifications, amendments or refinancings thereof); and [v] indebtedness relating to the Letter of Credit.

Appears in 1 contract

Samples: Master Lease Agreement (LifeCare Holdings, Inc.)

No Debt. Tenant and Subtenant shall not create, incur, assume, or permit to exist any indebtedness other than [i] trade debt incurred in the ordinary course of Tenant’s business; [ii] indebtedness for Facility working capital purposes; [iii] indebtedness relating to the Letter of Credit; and [iv] indebtedness that is secured by any Permitted Lien; [iii] indebtedness under the LifeCare Credit Facilities (including any modifications, amendments or refinancings thereof); and [iv] LifeCare Senior Subordinated Debt (including any modifications, amendments or refinancings thereof).

Appears in 1 contract

Samples: Master Lease Agreement (Tandem Health Care, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!