Approved Indebtedness definition

Approved Indebtedness means any Indebtedness of DTAC and/or DTAG that satisfies all of the following criteria:

Approved Indebtedness means, any Indebtedness of DTAG and/or DriveTime that satisfies all of the following criteria:

Approved Indebtedness means collectively, (i) this Loan, (ii) the 525 Prudential Loan, (iii) the Sanwa Line of Credit (including amounts borrowed thereunder after the Closing Date in compliance with the terms hereof), (iv) the PruExpress Loans, (v) the Tango Loan, (vi) the Bank of America Line of Credit (including amounts borrowed thereunder after the Closing Date in compliance with the terms hereof), (vii) the Public Unsecured BRE Debt, (viii) debt incurred in the ordinary course of business to acquire goods, supplies, services or merchandise on normal trade credit, (ix) surety bonds which are obtained in the ordinary course of business, (x) Indebtedness secured by New Purchase Money Liens, (xi) Existing BRE Secured Debt, and (xii) Capital Lease Obligations in an amount not to exceed, at any time, $1,000,000; provided, however, that in any and all events, such Approved Indebtedness shall be subject to, and included within the calculations relating to, the financial covenants set forth in Section 6.9 hereof.

Examples of Approved Indebtedness in a sentence

• Paying Approved Indebtedness of the RSC under the provisions of the By-Laws of the RSC, without incurring or assuming personal liability for such indebtedness.

• Disburse monies for Approved Indebtedness of RSC subject to the By-Laws and approved budget of RSC and maintain records of such disbursement.

• All payments of Approved Indebtedness made by RSC shall include the signature of the Treasurer and/or one of the following: President, Commissioner, or Secretary.

• The definition of “Net Equity” in Section 1.1 of the Original Loan Agreement is hereby deleted and replaced with the following: Net Equity: the excess of the book value of the assets of the DT Entities On A Consolidated Basis over the book value of the liabilities of the DT Entities On A Consolidated Basis (excluding the aggregate amount of Approved Indebtedness at such time), in each case determined in accordance with GAAP.

• If the proposed issuance or incurrence meets the standard of subparagraph (2) of the definition of Other Authorized Indebtedness, the County shall, within thirty (30) days of receipt of the Agency’s request and required accompanying documents, execute and deliver to the Agency a certificate to the effect that the proposed issuance or incurrence meets the standard of and constitutes Other Approved Indebtedness for purposes of this Agreement.

• RECOMENDATION Staff recommends adoption of URA Resolution 2012‐017, A Resolution of the Urban Renewal Agency of the City of Sherwood, Oregon Approving Refinancing of Previously Approved Indebtedness to Obtain Debt Service Savings.

More Definitions of Approved Indebtedness

Approved Indebtedness means collectively, (i) this Loan, (ii) the 955 Prudential Loan, (iii) the Sanwa Line of Credit (including amounts borrowed thereunder after the Closing Date in compliance with the terms hereof), (iv) the PruExpress Loans, (v) the Tango Loan, (vi) the Bank of America Line of Credit (including amounts borrowed thereunder after the Closing Date in compliance with the terms hereof), (vii) debt incurred in the ordinary course of business to acquire goods, supplies, services or merchandise on normal trade credit, (viii) surety bonds which are obtained in the ordinary course of business, (ix) Indebtedness secured by New Purchase Money Liens, (x) Existing BRE Secured Debt, and (xi) Capital Lease Obligations in an amount not to exceed, at any time, $1,000,000; provided, however, that in any and all events, such Approved Indebtedness shall be subject to, and included within the calculations relating to, the financial covenants set forth in Section 6.9 hereof.

Approved Indebtedness means collectively, (i) this Loan, (ii) the 525 Prudential Loan, (iii) the Sanwa Line of Credit (including amounts borrowed thereunder after the Closing Date in compliance with the terms hereof), (iv) the Union Line of Credit (including amounts borrowed thereunder after the Closing Date in compliance with the terms hereof), (v) the Tango Loan, (vi) debt incurred in the ordinary course of business to acquire goods, supplies, services or merchandise on normal trade credit, (vii) surety bonds which are obtained in the ordinary course of business, and (ix) Capital Lease Obligations in an amount not to exceed, at any time, $1,000,000; provided, however, that in any and all events, such Approved Indebtedness shall be subject to, and included within the calculations relating to, the financial covenants set forth in Section 6.9 hereof.

Approved Indebtedness means indebtedness of the Company, taken on following the date hereof but prior to the Closing, which is approved in writing by the Purchaser to be excluded from the calculation of Indebtedness.

Approved Indebtedness means any Indebtedness of DTAC and/or DTAG that is subordinated in right of payment and security (if such Indebtedness is secured) to all senior Indebtedness, whether or not secured, of each of DTAC and DTAG and such Indebtedness shall have a scheduled maturity date no earlier than 18 months following the Termination Date. To be deemed “Approved Indebtedness”, DTAC and/or DTAG shall either place a legend indicating such subordination on every note, ledger page or other document evidencing any part of the Indebtedness or deliver such documents to the Administrative Agent, on behalf of the Lenders.

Approved Indebtedness means collectively, (i) the Sanwa Line of Credit (including amounts borrowed thereunder after the Closing Date in compliance with the terms hereof), (ii) the Union Line of Credit (including amounts borrowed thereunder after the Closing Date in compliance with the terms hereof), (iii) debt incurred in the ordinary course of business to acquire goods, supplies, services or merchandise on normal trade credit, (iv) surety bonds which are obtained in the ordinary course of business, and (v) Capital Lease Obligations in an amount not to exceed, at any time, $1,000,000; provided, however, that in any and all events, such Approved Indebtedness shall be subject to, and included within the calculations relating to, the financial covenants set forth in Section 6.9 hereof.

Approved Indebtedness has the meaning set forth in ------------------------ Exhibit X.