Common use of Outstanding Debt and Liens Clause in Contracts

Outstanding Debt and Liens. The Borrower, the Parent and each Subsidiary of the Borrower have no outstanding Debt, Contingent Liabilities or Liens, except Permitted Liens, except as shown on Schedule 5.08a hereto. No breach, default or event of default exists under any document, instrument or agreement evidencing or otherwise relating to any Funded Debt of the Borrower, the Parent or any Subsidiary of the Borrower, which could reasonably be expected to cause a Material Adverse Change. All Intercompany Notes in existence on the day after the Closing Date are described on Schedule 5.08b hereto. All Intercompany Notes for which Borrower, the Parent or any Subsidiary of the Borrower is the obligor are subject to a Subordination Agreement.

Outstanding Debt and Liens. The Borrower, the Parent and each Subsidiary of the Borrower have no outstanding Debt, Contingent Liabilities or Liens, except Permitted Liens, except as shown on Schedule 5.08a 5.08(a) hereto. No breach, default or event of default exists under any document, instrument or agreement evidencing or otherwise relating to any Funded Debt of the Borrower, the Parent or any Subsidiary of the Borrower, which could reasonably be expected to cause a Material Adverse Change. All Intercompany Notes in existence on the day after the Closing Date are described on Schedule 5.08b 5.08(b) hereto. All Intercompany Notes for which Borrower, the Parent or any Subsidiary of the Borrower is the obligor are subject to a Subordination Agreement.