Secured Shorter. Term Indebtedness so long as (i) no Default exists at the time of the incurrence thereof (before and after giving effect thereto), (ii) at the time of incurrence thereof (before and after giving effect thereto), the aggregate outstanding principal amount (determined at the time of the incurrence thereof) of such Indebtedness incurred pursuant to this clause (h) does not exceed the greater of (A) $20,000,000 and (B) 5% of Borrower Net Worth, (iii) at the time of incurrence thereof (before and after giving effect thereto), the aggregate amount of such Indebtedness (determined at the time of incurrence thereof), taken together with other then-outstanding Indebtedness that constitutes senior securities, does not exceed the amount required to comply with the provisions of Section 6.07(b), and (iv) prior to and immediately after giving effect to the incurrence of any such Indebtedness and any other Indebtedness included in the Covered Debt Amount concurrently incurred, the Covered Debt Amount does not or would not exceed the Borrowing Base then in effect (for clarity, with respect to revolving loan facilities or staged advance loan facilities, “incurrence” shall be deemed to take place only at the time such facility is entered into or the aggregate commitments thereunder are increased or extended);
Secured Shorter. Term Indebtedness and Unsecured Shorter-Term Indebtedness in an aggregate amount (determined at the time of the incurrence of such Indebtedness) not exceeding 5% of Shareholders' Equity and that (i) taken together with other then-outstanding Indebtedness, does not exceed the amount required to comply with the provisions of Section 6.07(b) and (ii) taken together with Indebtedness permitted under clause (a), and Secured Longer-Term Indebtedness permitted under clause (b), of this Section 6.01, does not exceed the Borrowing Base; and
Secured Shorter. Term Indebtedness so long as, after giving effect to its incurrence and any Concurrent Transaction, (i) no Specified Default or Event of Default shall have occurred and be continuing, (ii) the aggregate principal amount of such Indebtedness does not exceed the greater of (A) $7,500,000 and (B) 5% of Shareholders’ Equity (measured at the time of incurrence), (iii) the aggregate principal amount of such Indebtedness, taken together with other then-outstanding Indebtedness that constitutes senior securities, does not exceed the amount required to comply with the provisions of Section 6.07(b), and (iv) the Covered Debt Amount does not exceed the Borrowing Base then in effect;
