Permitted Existing Indebtedness Clause Samples
The Permitted Existing Indebtedness clause defines and authorizes specific debts that a party is allowed to maintain under an agreement, despite general restrictions on incurring debt. Typically, this clause lists or references loans, credit lines, or other financial obligations that existed prior to the execution of the contract and are expressly permitted to continue. By clearly identifying which debts are allowed, the clause ensures that ongoing financial arrangements are not inadvertently breached and provides certainty to both parties regarding the treatment of pre-existing liabilities.
Permitted Existing Indebtedness. Indebtedness of the Loan Parties and their Subsidiaries, or any of them, which is outstanding on the Closing Date and identified on the written disclosure provided to, and approved by, Agent pursuant to §6.29.
Permitted Existing Indebtedness. Indebtedness of PXI evidenced by (i) the PXI Senior Notes and (ii) any PXI Subordinated Notes outstanding on the Restatement Effective Date after giving effect to the Refinancing;
Permitted Existing Indebtedness of the Borrower evidenced by the Senior Notes pursuant to the Senior Note Documents, in an aggregate principal amount not to exceed $225,000,000 (as reduced by any repayments of principal thereof) as described as item 4 on Schedule VII;
Permitted Existing Indebtedness and Refinanced Indebtedness, and in each case any extension, renewal, refunding or refinancing thereof; provided, however, that -------- ------- any such extension, renewal, refunding or refinancing is in an aggregate principal amount not greater than the principal amount of and interest on, fees and expenses accrued on, such Permitted Existing Indebtedness outstanding at the time thereof and is on terms (including, without limitation, maturity, amortization, interest rate, premiums, fees, covenants, events of default, and remedies) not materially less favorable to the obligor or materially adverse to the Lenders than the terms of such Indebtedness on the date hereof;
Permitted Existing Indebtedness. Schedule 1.1.4
Permitted Existing Indebtedness. Section (a) - Borrowed Money Company Party Amount (in $000s) Chicago Bridge & Iron Company 2015 Term Loan Agreement $ 481,300 Chicago Bridge & Iron Company NPA Notes $ 731,000 Chicago Bridge & Iron Company 2013 Revolving Credit Agreement ($1.35B) $ 204,000 Chicago Bridge & Iron Company 2015 Revolving Credit Agreement ($800M) $ 170,000 Section (b) - Deferred Purchase Price $ — Section (c) - Lien Obligations $ 0 Section (d) - Notes $ — Section (e) - Capitalized Leases $ 0 Section (f) - Contingent Obligations Refer to Schedule 10.12 Section (g) - Letters of Credit $1,600,000 Bilateral $139,600 Revolvers Section (h) - Off-Balance Sheet Liabilities Sale and Leaseback of Plainfield Facility $ 0 Section (i) - Disqualified Stock $ —
Permitted Existing Indebtedness. The following indebtedness was incurred with respect to the acquisition of Roadway Safety Service and is reported on the February 28, 2005 balance sheet at $1,214,703. Promissory Note dated October 1, 1997 in the original principal amount of $5,000,000 by Roadway (now Energy Absorption Systems, Inc.) in favor of J. ▇▇▇▇▇ ▇▇▇▇▇▇.
Permitted Existing Indebtedness. Schedule 1.01.5 Permitted Existing Investments Schedule 1.01.6 Permitted Existing Liens Schedule 1.01.7 Refinanced Indebtedness Schedule 3.02 Existing Letters of Credit Schedule 7.01-A Organizational Documents Schedule 7.01-C Organizational Structure Schedule 7.01-E Governmental Consents Schedule 7.01-K Pending Actions Schedule 7.01-L Compensation Matters Schedule 7.01-S Environmental Matters Schedule 7.01-T ERISA Matters Schedule 7.01-V Labor Contracts Schedule 7.01-Y Patent, Trademark & Permit Claims Pending
Permitted Existing Indebtedness.
1. Capitalized leases $344,894.73 Indebtedness outstanding as of March 31, 2019:
2. Debtor: Owed to: Amount Outstanding: Guaranty:
3. Woodward India Private Ltd. Bank of India $74,282 ▇▇▇▇▇▇▇▇, Inc.
Permitted Existing Indebtedness. Indebtedness arising from intercompany loans from the Borrower to any Subsidiary;