Seller Debt. Except as contemplated by the Transaction Documents, Seller will not incur or permit to exist any Debt or liability on account of deposits except: (i) the Aggregate Unpaids, (ii) the Subordinated Loans, and (iii) other current accounts payable arising in the ordinary course of business and not overdue, unless such overdue accounts payable are disputed and being contested in good faith.
Seller Debt. Seller Debt, which must be unsecured.
Seller Debt. Seller has no debt that is secured by Seller Bank capital stock.
Seller Debt. The aggregate indebtedness of the Company to IBF and its direct or indirect subsidiaries and affiliates (other than the Company), and their respective successors, assigns or transferees, pursuant to all notes, credit facilities, loan agreements or arrangements of any kind between the Company, as debtor, and the IBF or its direct or indirect subsidiaries and affiliates (other than the Company), as lender or creditor, including any indebtedness originally in favor of IBF and/or its direct or indirect subsidiaries and affiliates that was subsequently transferred or assigned to any other person or entity.
Seller Debt. Effective as of the Closing, no Transferred Group shall have, and Buyer Parent and its Affiliates shall not be required to assume, any indebtedness for borrowed money.
Seller Debt. Prior to the Closing, Parent shall cause all ----------- remaining payments on all capitalized leases to be paid and use its reasonable best efforts to cause all cash accounts of the Sellers to be reduced to zero with no negative or positive balances. Buyer acknowledges that the funding of negative balances will increase Closing Date Net Worth.
Seller Debt. Make any payment on account of any Seller Debt; provided that, the Borrowers may be permitted to make a payment on account of Seller Debt so long as (a) after giving effect to such payment (i) the Borrowers shall have Unused Revolving Credit Commitments (as defined in the First Lien Credit Agreement) of at least $10,000,000 and (ii) no Default or Event of Default shall exist or shall result from such payment, including with respect to the covenants contained in Section 7.15 on a pro forma basis, and the Borrowers shall have delivered to the Administrative Agent an Officer’s Compliance Certificate with detailed calculations evidencing such compliance with Section 7.15 (the foregoing clause (a) being hereinafter referred to as the “Seller Debt Payment Provisions”) and (b) the holder of such Seller Debt has entered into a subordination agreement with the Administrative Agent, in form and substance acceptable to the Administrative Agent, and such subordination agreement shall include a provision that prohibits the holder of such Seller Debt from receiving any payment on account of Seller Debt unless the Seller Debt Payment Provisions have been satisfied; provided, however, that the holder of the VaporBeast Seller Debt shall not be required to enter into a subordination agreement with the Administrative Agent.
Seller Debt. Section 3.16 of the Seller Disclosure Schedule lists all outstanding Indebtedness of Seller and each Subsidiary as of the date hereof, except for individual items of indebtedness the principal amount of which do not exceed $25,000. Section 3.16 of the Seller Disclosure Schedule sets forth the amount of principal and unpaid interest outstanding under each instrument evidencing Indebtedness of Seller or each Subsidiary, if any, that will accelerate or become due or result in a right on the part of the holder of such indebtedness (with or without due notice or lapse of time) to require prepayment, redemption or repurchase as a result of the execution of this Agreement or the consummation of the transactions contemplated hereby.
Seller Debt. Except as disclosed on SCHEDULE 8.04(XIII), the Acquisition Notes represent unsecured Indebtedness of the Borrower.
Seller Debt. 72 6.24 SURVIVAL OF RIGHTS CREATED UNDER EXISTING CREDIT AGREEMENT....................................... 72
