Common use of Schedule of Existing Debt Clause in Contracts

Schedule of Existing Debt. Agent shall have received from Borrower a schedule, certified by a duly authorized officer of Borrower to be true and complete as of the Closing Date, setting for the following information: (1) a complete and correct list of all outstanding Indebtedness for borrowed money of Borrower and its Subsidiaries having an outstanding principal balance in excess of $500,000 (including a description of the obligors and obligees, principal amount outstanding and collateral therefor, if any, and Guaranty thereof, if any), since which date there has been no material change in the amounts, interest rates, sinking funds, installment payments or maturities of such obligations and (2) the aggregate principal amount of outstanding Indebtedness for borrowed money of the Borrower and its Subsidiaries in respect of obligations that, individually, have an outstanding principal balance of $500,000 or less. Such certificate shall also indicate that, as of the Closing Date, no event of default exists with respect to any payment of principal on or interest under any Indebtedness of Borrower listed under Section "(1)" of such Schedule.