Indebtedness or Debt definition

Indebtedness or Debt means all moneys now or hereafter owed or liabilities incurred, outright or otherwise, which give rise to an obligation of any Person to perform payment whether in the form of cash or otherwise.
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Indebtedness or Debt means: (a) any indebtedness (including all accrued interest) for borrowed money or issued in substitution for or exchange of indebtedness for borrowed money; (b) any indebtedness evidenced by any note, bond, debenture or other debt security; (c) any indebtedness for the deferred purchase price of property or services with respect to Seller or GFD is liable, contingently or otherwise, as obligor or otherwise; (d) any commitment by which Seller or GFD assures a creditor against loss (including, without limitation, contingent reimbursement obligations with respect to letters of credit); (e) any indebtedness guaranteed in any manner by Seller or GFD (including, without limitation, guarantees in the form of an agreement to repurchase or reimburse); (f) any obligations under capitalized leases with respect to which Seller or GFD is liable, contingently or otherwise, as obligor, guarantor or otherwise, or with respect to which obligations Seller or GFD assures a creditor against loss; (g) any TRAC or synthetic leases; (h) any indebtedness secured by a Lien on the Seller Units; (i) any unsatisfied obligation for withdrawal liability to a Multiemployer Plan as such terms are defined under ERISA; (j) the deficit or negative balance, if any, in GFD’s checking account; and (k), any credit card debt.
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Examples of Indebtedness or Debt in a sentence

  • Borrowed Money that is the result of an extension, renewal or refinancing of the Term Loan Indebtedness or Debt permitted under Section 10.2.1(b), (d), (f), or (x), in each case, so long as each Refinancing Condition is satisfied and, in the case of the Term Loan Indebtedness, is permitted by and in accordance with the Intercreditor Agreement.

  • Borrowed Money that is the result of an extension, renewal or refinancing of the Term Loan Indebtedness or Debt permitted under Section 10.2.1(b), (d), (f) or (x), in each case, so long as each Refinancing Condition is satisfied and, in the case of the Term Loan Indebtedness, is permitted by and in accordance with the Intercreditor Agreement.

  • For avoidance of doubt, without in any way limiting the foregoing, no payments may be made in respect of Intercompany Indebtedness or Debt owed by a Borrower to DASNY in any Insolvency Event, or any receivership, liquidation, reorganization, dissolution or other similar proceedings relative to any Borrower or to its businesses, properties or assets, until the Lenders shall have received payment in full of all of the Obligations.

  • Material Contract - any agreement or arrangement to which a Loan Party is party (other than the Loan Documents) (a) that is deemed to be a material contract under any securities law applicable to such Obligor, including the Securities Act of 1933, (b) for which breach, termination, nonperformance or failure to renew could reasonably be expected to have a Material Adverse Effect, or (c) that relates to Senior Secured Indebtedness, or Debt in an aggregate amount of $10,000,000 or more.

  • For purposes of determining compliance with the financial covenants contained in Section 9.1 of this Agreement (or incorporated herein by reference pursuant to Section 9.1(e) hereof), any election by Borrower to measure an item of Debt or Indebtedness using fair value (as permitted by Financial Accounting Standards Board 159 or any similar accounting standard) shall be disregarded and such determination shall be made instead using the outstanding amount of such Indebtedness or Debt.

  • Accordingly, Indebtedness or Debt otherwise permitted by clauses (i) through (ix) of this paragraph 6C shall be subject to the limitations of paragraphs 6A and 6B hereof.

  • For purposes of determining compliance with the financial covenants contained in Section 13 of this Agreement (or incorporated herein by reference pursuant to Section 13(e) hereof), any election by the Company to measure an item of Debt or Indebtedness using fair value (as permitted by Financial Accounting Standards Board 159 or any similar accounting standard) shall be disregarded and such determination shall be made instead using the outstanding amount of such Indebtedness or Debt.

  • For purposes of determining compliance with the financial covenants contained in Section 9.1 of this Agreement, any election by Borrower to measure an item of Debt or Indebtedness using fair value (as permitted by Financial Accounting Standards Board 159 or any similar accounting standard) shall be disregarded and such determination shall be made instead using the outstanding amount of such Indebtedness or Debt.