Common use of Permitted Debt Clause in Contracts

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated Debt; (c) Permitted Purchase Money Debt; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial Loans; (e) Bank Product Debt; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied; (i) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $250,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated Debt; (c) Permitted Purchase Money Debt; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial LoansLoans (including, without limitation, Borrowed Money from the City of St. Cloud, Minnesota; provided, however, that the amount of such Borrowed Money shall not be increased without the consent of Agent); (e) Bank Product Debt, as long as the aggregate negative xxxx-to-market obligations outstanding under Hedging Agreements do not exceed $10,000,000 at any time; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 1,000,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied; (i) Obligations of the Borrowers under the Dealer Finance Agreements; and (j) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $250,000 5,000,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated DebtDebt (if any); (c) Permitted Purchase Money Debt; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial Loans; (e) Bank Product Debt; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 1,000,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied;; and (i) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $250,000 1,000,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.

Permitted Debt. Create, incur, guarantee or suffer to exist any DebtDebt , except: (a) the Obligations; (b) Subordinated Debt; (c) Permitted Debt owed to a Dealer Note Purchase Money DebtParty pursuant to the Dealer Note Purchase Agreement in a maximum amount outstanding not to exceed $15,000,000; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial Loans; (e) Bank Product Debt; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by Parent or a Borrower or SubsidiarySubsidiary thereof, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 1,000,000 in the aggregate at any time; (g) Permitted Contingent ObligationsObligations (provided that in no event shall an Obligor become liable for a Contingent Obligation in respect of a Non-Guarantor Subsidiary); (h) Purchase Money Debt secured only by a Purchase Money Lien in an aggregate amount not to exceed $1,000,000 at any time; (i) the Senior Notes and the Senior Notes Refinancing Debt; (j) Refinancing Debt as long as each Refinancing Condition is satisfied;; and (ik) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $250,000 1,500,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated Debt; (c) Permitted Purchase Money Debt; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial Loans; (e) Bank Product Debt; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 100,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied;; and (i) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $250,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated Debt; (c) the Convertible Notes (but only to the extent issued and outstanding as of the Closing Date); (d) Permitted Purchase Money Debt; (de) Borrowed Money (other than the Obligations, Subordinated Debt Debt, the Convertible Notes and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial Loans; (e) Bank Product Debt; (f) Debt that is with respect to Bank Products incurred in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiarythe Ordinary Course of Business, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does the aggregate mark-to-market obligations under Hedging Agreements do not exceed $500,000 in the aggregate 250,000 at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied; (i) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $250,000 500,000 in the aggregate at any time; and; (j) Debt of Universal with respect to the Overdraft Facility any Foreign Subsidiaries that are not Obligors in an aggregate amount not to exceed $300,000 20,000,000 at any time outstandingoutstanding (which Debt shall be in addition to, and exclusive of, Debt permitted under Section 10.2.1(k)); and (k) existing Debt as of the Closing Date as shown on Schedule 10.2.1 of the Disclosure Certificate.

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated Debt; (c) Permitted Purchase Money Debt; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date date hereof and listed on Schedule 10.2.1 and not satisfied with proceeds of the initial Loans; (e) Bank Product Debt; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower Loan Party or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 250,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied; (i) the Frost Debt; and (j) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $250,000 1,000,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated Debt; (c) Permitted Purchase Money Debt; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial Loans; (e) Bank Product Debt; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower an Obligated Party or Subsidiaryany of its Subsidiaries, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 1,000,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied; (i) Second Lien Debt subject to the terms and conditions contained in the Intercreditor Agreement; and (j) Debt that is not included in any of the preceding clauses of this SectionSection 10.2.1, is not secured by a Lien and does not exceed $250,000 5,000,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.”

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated Debt; (c) Permitted Purchase Money Debt; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial Loans; (e) Debt with respect to Bank Product DebtProducts incurred in the ordinary course of business; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 1,000,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied; (i) Permitted Cure Leasing Debt and/or Permitted AmeriQuest Remarketing Debt (j) Debt owed in connection with intercompany loans to the extent permitted by Section 10.2.7; and (k) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $250,000 1,000,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated Debt; (c) Permitted Purchase Money Debt; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial Loans; (e) Bank Product Debt; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 100,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied;; and (i) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $250,000 100,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated Debt; (c) Permitted Purchase Money Debt; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial Loans; (e) Debt with respect to Bank Product DebtProducts incurred in the Ordinary Course of Business; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 2,000,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied;; and (i) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $250,000 2,000,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated Debt; (c) Permitted Purchase Money Debt; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial Loans; (e) Bank Product Debt; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower an Obligated Party or Subsidiaryany of its Subsidiaries, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 1,000,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied;; and (i) Debt that is not included in any of the preceding clauses of this SectionSection 10.2.1, is not secured by a Lien and does not exceed $250,000 5,000,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.

Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: (a) the Obligations; (b) Subordinated Debt; (c) Permitted Purchase Money Debt; (d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding on the Closing Date and not satisfied with proceeds of the initial Loans; (e) Bank Product Debt; (f) Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 1,000,000 in the aggregate at any time; (g) Permitted Contingent Obligations; (h) Refinancing Debt as long as each Refinancing Condition is satisfied;; and (i) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and does not exceed $250,000 1,000,000 in the aggregate at any time; and (j) Debt of Universal with respect to the Overdraft Facility not to exceed $300,000 at any time outstanding.