Permitted Bank Indebtedness definition

Permitted Bank Indebtedness means any Indebtedness of Parent or any Subsidiary of Parent pursuant to one or more credit facilities with banks or other lenders providing for revolving credit loans or term loans or the issuance of letters of credit or bankers’ acceptances or the like and Guarantees of such Indebtedness by Parent or any Subsidiary of Parent; provided that the aggregate principal amount at any time outstanding does not exceed $1.0 billion.

Permitted Bank Indebtedness means any Indebtedness of STBV or any Subsidiary of STBV pursuant to one or more credit facilities with banks or other lenders providing for revolving credit loans or term loans or the issuance of letters of credit or bankers’ acceptances or the like and Guarantees of such Indebtedness by STBV or any Subsidiary of STBV; provided that the aggregate principal amount of such Permitted Bank Indebtedness at any time outstanding does not exceed $500,000,000.

Permitted Bank Indebtedness means any Indebtedness of the Company or any Subsidiary of the Company pursuant to one or more credit facilities with banks or other lenders providing for revolving credit loans or term loans or the issuance of letters of credit or bankers’ acceptances or the like and Guarantees of such Indebtedness by the Company or any Subsidiary of the Company; provided that the aggregate principal amount of such Permitted Bank Indebtedness at any time outstanding does not exceed the greater of (x) $125.0 million and (y) 1.75% of Consolidated Total Assets of the Company measured at the time of incurrence of any such Bank Indebtedness, and after giving effect to such incurrence.

Examples of Permitted Bank Indebtedness in a sentence

• For purposes of this determination, the parties agree that cash and cash equivalents will constitute, and be deemed to constitute, a contra-liability included in the Permitted Bank Indebtedness as of the Effective Date and, therefore, an Assumed Liability and will not constitute, or be deemed to constitute a Purchased Asset.

• To the extent that the Estimated Permitted Bank Indebtedness exceeds the amount required to pay out the net liability of the TEXCAN ENTITIES to CIBC according to the Payment Letter delivered to Anicom pursuant to Section 8.2(h), such excess shall be paid to TEXCAN to be used to honor and clear checks written by the Texcan Entities on or prior to the Closing Date to pay obligations which form part of the Assumed Liabilities (the "Outstanding Check Funds").

• If and to the extent that the Effective Date Permitted Bank Indebtedness, as set forth in the Closing Statement, exceeds the Estimated Permitted Bank Indebtedness, then the TEXCAN ENTITIES shall, within five business days after the ultimate determination of the Effective Date Permitted Indebtedness, pay to the ANICOM ENTITIES by bank or certified check or wire transfer an amount equal to such excess.

• At the Closing, the ANICOM ENTITIES shall pay to the TEXCAN ENTITIES an amount (the "Cash Payment") equal to (i) U.S.$39,000,000, minus U.S.$11,781,498, which amount represents the parties estimate of the Effective Date Permitted Bank Indebtedness (the "Estimated Permitted Bank Indebtedness"), by wire transfer of immediately available funds to an account or accounts of the TEXCAN ENTITIES at a bank or banks specified by TEXCAN CN in wire transfer instructions.

• Alternatively, if and to the extent that the Estimated Permitted Bank Indebtedness exceeds the Effective Date Permitted Bank Indebtedness, as set forth in the Closing Statement, then the ANICOM ENTITIES shall, within five business days after the ultimate determination of the Effective Date Permitted Indebtedness, pay to the TEXCAN ENTITIES by bank or certified check or wire transfer an amount equal to such excess.

More Definitions of Permitted Bank Indebtedness

Permitted Bank Indebtedness means any Indebtedness and associated obligations of the Company or any Subsidiary pursuant to one or more Credit Facilities (including, without limitation, the Credit Agreement) and Guarantees of such Indebtedness by the Company or any Subsidiary; provided that, after giving effect to any such Incurrence (including, for the avoidance of doubt, the application of the proceeds therefrom), the aggregate principal amount of all such Indebtedness Incurred and then outstanding (without duplication) does not exceed the greater of (1) $4.75 billion and (2) the Borrowing Base.

Permitted Bank Indebtedness means any Indebtedness of Parent or any Subsidiary of Parent pursuant to one or more credit facilities with banks or other lenders providing for revolving credit loans or term loans or the issuance of letters of credit or bankers’ acceptances or the like and Guarantees of such Indebtedness by Parent or any Subsidiary of Parent; provided that the aggregate principal amount at any time outstanding does not exceed $1.0 billion.

Permitted Bank Indebtedness means any Indebtedness of the Guarantors or any Subsidiary of the Guarantors pursuant to one or more credit facilities with banks or other lenders providing for revolving credit loans or term loans or the issuance of letters of credit or bankers’ acceptances or the like and guarantees of such Indebtedness by the Guarantors or any Subsidiary of the Guarantors; provided that the aggregate principal amount at any time outstanding does not exceed $2.0 billion.

Permitted Bank Indebtedness means any Indebtedness and associated obligations of the Company or any Subsidiary of the Company pursuant to one or more Credit Facilities and Guarantees of such Indebtedness by the Company or any Subsidiary of the Company; provided that the aggregate principal amount of such Permitted Bank Indebtedness (which may be reborrowed) at any time outstanding does not exceed the greater of (i) $200.0 million, (ii) the sum of (x) 85% of eligible accounts receivable and (y) the lesser of 65% of eligible inventory and 85% of the appraised net orderly liquidation value of eligible inventory, in each case as shown on the Company’s most recent balance sheet and (iii) the product of (x) 2.5 and (y) Consolidated EBITDA for the most recently ended four quarter period (for purposes of this clause (iii) Consolidated EBITDA will be adjusted on a pro forma basis in the manner set forth in the definition of Consolidated EBITDA).

Permitted Bank Indebtedness means any Indebtedness and associated obligations of Parent or any of its Subsidiaries pursuant to one or more Credit Facilities (including the Credit Agreement) and guarantees of such Indebtedness by Parent or any of its Subsidiaries; provided that, after giving effect to any such Incurrence (including, for the avoidance of doubt, the application

Permitted Bank Indebtedness means any Indebtedness of the Company and its Domestic Restricted Subsidiaries pursuant to one or more credit facilities with banks or other lenders providing for revolving credit loans or term loans or the issuance of letters of credit or bankers’ acceptances or the like, and Subsidiary Debt in respect of any such Indebtedness, up to an aggregate principal amount (without duplication) of the greater of (1) $2.0 billion and (2) 10.0% of Consolidated Net Tangible Assets of the Company (excluding, for purposes of such calculation, any such Indebtedness of the Company and any Guarantor, or portion thereof, to the extent not secured by a Lien on its Principal Property or otherwise permitted under this Indenture without reliance on this definition of Permitted Bank Indebtedness).

Permitted Bank Indebtedness means any Indebtedness and associated Obligations of Solera or any Subsidiary of Solera pursuant to one or more credit facilities with banks or other lenders providing for revolving credit loans or the issuance of letters of credit or bankers’ acceptances or the like and Guarantees of such Indebtedness by Solera or any Subsidiary of Solera; provided that the aggregate principal amount of such Permitted Bank Indebtedness at any time outstanding does not exceed $100.0 million.