Common use of Permitted Financial Debt Clause in Contracts

Permitted Financial Debt. Incur, assume or permit to exist any Financial Debt other than: (i) the Senior Loans; (ii) Financial Debt in the form of a convertible notes entered into between the Borrower and equity investors, so long as each such convertible note: (a) has an original term of no more than eighteen (18) months; and (b) is mandatorily convertible into Share Capital at the conclusion of such term; (iii) Financial Debt incurred in respect of the Warehouse Leases; (iv) until December 31, 2024: CONFIDENTIAL (a) Financial Debt incurred in respect of leases of refrigerators and racks, in an aggregate amount outstanding at any one time not to exceed three million five hundred thousand Dollars ($3,500,000) or the equivalent thereof in any other currency; and (b) Financial Debt incurred under working capital lines of credit secured by Cash accounts, in an aggregate amount outstanding at any one time not to exceed two million Dollars ($2,000,000) or the equivalent thereof in any other currency; and (v) after December 31, 2024, Financial Debt so long as the Borrower remains in compliance with Section 5.1.13 (Financial Covenants) before and after the incurrence of such Financial Debt. For the avoidance of doubt, this Section 5.2.12 (1) does not modify, and is without prejudice to the compliance obligations in respect of, the Financial Covenants and (2) does not apply to trade accounts in the ordinary course of business payable within ninety (90) days.

Permitted Financial Debt. Incur, assume or permit to exist any Financial Debt other than: (i) the Senior Loans; (ii) Financial Debt in the form of a convertible notes entered into between the Borrower and equity investors, so long as each such convertible note: (a) has an original term of no more than eighteen (18) months; and (b) is mandatorily convertible into Share Capital at the conclusion of such term; (iii) Financial Debt incurred in respect of the Warehouse Leases; (iv) until December 31, 2024: CONFIDENTIAL: (a) Financial Debt incurred in respect of leases of refrigerators and racks, in an aggregate amount outstanding at any one time not to exceed three million five hundred thousand Dollars ($3,500,000) or the equivalent thereof in any other currency; and (b) Financial Debt incurred under working capital lines of credit secured by Cash accounts, in an aggregate amount outstanding at any one time not to exceed two million Dollars ($2,000,000) or the equivalent thereof in any other currency; and (v) after December 31, 2024, Financial Debt so long as the Borrower remains in compliance with Section 5.1.13 (Financial Covenants) before and after the incurrence of such Financial Debt. CONFIDENTIAL For the avoidance of doubt, this Section 5.2.12 (1) does not modify, and is without prejudice to the compliance obligations in respect of, the Financial Covenants and (2) does not apply to trade accounts in the ordinary course of business payable within ninety (90) days.