Common use of Outstanding Debt and Liens Clause in Contracts

Outstanding Debt and Liens. Company and its Subsidiaries have no outstanding Debt, Contingent Liabilities or Liens, except Permitted Liens, except as shown on Schedule 4.8 hereto. No breach, default or event of default exists under any document, instrument or agreement evidencing or otherwise relating to any Indebtedness of Company or any of its Subsidiaries. All Intercompany Notes are subject to a Subordination Agreement.

Outstanding Debt and Liens. Company and its Subsidiaries have no outstanding Debt, Contingent Liabilities or Liens, except Permitted Liens, except as shown on Schedule SCHEDULE 4.8 hereto. No breach, default or event of default exists under any document, instrument or agreement evidencing or otherwise relating to any Indebtedness of Company or any of its Subsidiaries. All Intercompany Notes are subject to a Subordination Agreement.