Common use of Restriction of Indebtedness Clause in Contracts

Restriction of Indebtedness. Create, incur or assume any indebtedness for borrowed money or the deferred purchase price of any asset (including obligations under capitalized leases), except indebtedness subordinated to all debts, obligations and liabilities of Lyric to Franchisor and its Affiliates pursuant to a subordination agreement on terms and conditions acceptable to Franchisor.

Appears in 3 contracts

Samples: Master Franchise Agreement (Integrated Health Services Inc), Master Franchise Agreement (Integrated Health Services Inc), Master Franchise Agreement (Monarch Properties Inc)

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Restriction of Indebtedness. Create, incur or assume any indebtedness for borrowed money or the deferred purchase price of any asset (including obligations under capitalized leasesCapitalized Leases), except indebtedness subordinated to all debts, obligations and liabilities of Lyric OpCo to Franchisor and its Affiliates pursuant to a subordination agreement on terms and conditions acceptable to Franchisor.;

Appears in 1 contract

Samples: Master Franchise Agreement (Magellan Health Services Inc)

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Restriction of Indebtedness. Create, incur incur, assume or assume have outstanding any indebtedness for borrowed money or the deferred purchase price of any asset (including obligations under capitalized leasesCapitalized Leases), except indebtedness subordinated to all debts, obligations and liabilities of Lyric to Franchisor and its Affiliates pursuant to a subordination agreement on terms and conditions acceptable to Franchisor.except: the Note issued under this Agreement; and

Appears in 1 contract

Samples: Term Loan Agreement

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