No Further Indebtedness. Neither Borrower nor any other Loan Party shall create, incur, assume, permit to exist, or otherwise become or remain directly or indirectly liable with respect to any Debt other than Permitted Debt.
No Further Indebtedness. Loan Holder and Borrowers do hereby warrant and represent that as of the date hereof, the only Subordinated Debt currently outstanding which is due and owing from Borrowers to Loan Holder, is $100,388.89, and that no further indebtedness or financial obligations of any kind shall be incurred between Borrowers and Loan Holder during the term of the Debentures, the SPA and this Agreement.
No Further Indebtedness. Borrower shall not create, incur, assume, permit to exist, or otherwise become or remain directly or indirectly liable with respect to any Indebtedness, other than (a) the Obligations and trade indebtedness incurred in the ordinary course of business provided, that such trade indebtedness shall be unsecured trade payables incurred in the ordinary course of its business that are related to the ownership and operation of the Site and the Collateral not to exceed two percent (2%) of the outstanding balance of the Loan, and which is not evidenced by a note and which must be paid within sixty (60) days and which are otherwise expressly permitted under the Loan Documents; (b) obligations of Borrower existing or arising under any Related Swap Contract in form and substance satisfactory to Lender entered into by Borrower in connection with the Loan; and (c) obligations of Borrower existing or arising under any other Swap Contract entered into by Borrower in connection with the Loan provided that (i) such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person, or changes in the value of securities issued by such Person, and not for purposes of speculation or taking a “market view;” and (ii) such Swap Contract does not contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party.
No Further Indebtedness incur no further Indebtedness nor authorise or accept any capital commitments (other than that normally associated with the day to day operations of the Vessel) nor enter into any agreement for payment on deferred terms or hire agreement;
No Further Indebtedness. The Grantor shall not incur, assume or suffer to exist or in any manner become liable, directly or indirectly, for any further or additional indebtedness or liabilities other than:
(a) To the Lender;
(b) Any other debt which, in the sole opinion of counsel to the Lender, is satisfactorily subordinated to all indebtedness contingent or otherwise owing to the Lender by the Grantor;
(c) For taxes, assessments or governmental charges to the extent that payment therefore shall not, at the time, be required to be made hereunder;
(d) On open account for the purchase price of services, materials or supplies incurred by the Grantor in the ordinary course of business and not as a result of borrowing and provided that such indebtedness shall be promptly paid and discharged when due in conformity with ordinary trade terms, except for any such indebtedness which is being contested in good faith by the Grantor by appropriate proceedings and adequate reserves for which have been established and are being maintained and in connection with which no Encumbrance has been placed on the property of the Grantor; and
(e) For the purchase price of capital assets incurred in the ordinary course of business and as expressly permitted hereunder.
No Further Indebtedness. Borrower will not incur any indebtedness to any Person other than (a) indebtedness incurred pursuant to this Agreement; (b) trade payables and accruals incurred in the ordinary course of Borrower's business as now conducted and other indebtedness incurred in the ordinary course of Borrower's business as now conducted; (c) indebtedness arising in connection with payment and performance bonds obtained by Borrower in the ordinary course of business; (d) indebtedness reasonably approved by Lender including, without limitation, the financing of subdivisions not approved by Lender hereunder; (e) loans from Crescent subordinated to the same extent as the Crescent Notes not to exceed Ten Million and No/100 Dollars ($10,000,000.00) and (e) sales and options back that, under GAAP, must be treated as indebtedness. Notwithstanding the foregoing, Borrower may not incur any indebtedness if the effect of incurring such indebtedness would be to cause or contribute to a breach of the Financial Covenants set forth in ARTICLE 7 (on a pro forma basis).
No Further Indebtedness. The G&G Division of the Company shall not incur any additional Indebtedness, except with respect to accounts payable arising in the ordinary course of business.
No Further Indebtedness. The Amicus Division of the Company shall not incur any additional Indebtedness, except with respect to accounts payable arising in the ordinary course of business.
No Further Indebtedness ensure that the Owner will not incur any further Indebtedness nor authorise or accept any capital commitments (other than that normally associated with the day to day operations of the Vessel) nor enter into any agreement for payment on deferred terms or hire agreement without the prior written consent of the Bank;
No Further Indebtedness. Borrower shall not create, incur, assume, permit to exist, or otherwise become or remain directly or indirectly liable with respect to any Indebtedness, other than (a) the Obligations, (b) trade indebtedness incurred in the ordinary course of business, and (c) Capital Leases and purchase money Indebtedness in an aggregate principal amount not in excess of $100,000.
