Permitted Intercompany Debt has the meaning set forth in the Company Leverage Policy.

Permitted Intercompany Debt means Debt owing by one Credit Party to another Credit Party.

Permitted Intercompany Debt means indebtedness owing to any Company by any Subsidiary of a Borrower, provided that the Company holding such indebtedness has granted in favour of the Lender (i) a First-Ranking Security Interest in all of its property and assets; and (ii) if requested by the Lender, a subordination, postponement and assignment of such indebtedness and all security in respect thereof, in form and substance satisfactory to the Lender.

Examples of Permitted Intercompany Debt in a sentence

The Administrative Agent shall have received evidence reasonably satisfactory to the Administrative Agent that the Permitted Intercompany Debt has been assigned from CorEnergy to MoGas HoldCo.
Except as set forth on Schedule 10 hereto, no Debt (including Permitted Intercompany Debt) owed to any Lien Grantor is evidenced by an instrument (as such term is defined in the UCC) that is not held in a Concentration Account or pledged to the Collateral Agent as part of the Collateral.
The Borrower will not, and will not permit any Subsidiary to, sell, transfer, assign or pledge any Permitted Intercompany Debt of which it is the obligee.
The Parties agree that the reduction of all of the intercompany obligations other than the Permitted Intercompany Debt shall be accomplished by a conversion into share capital of the Company, which conversion shall take place immediately prior to Closing, and not before, except as expressly contemplated under the Investment Agreement or as previously approved in writing by Clearwire.
Make any Investments except, and provided that no Default or Event of Default has occurred and is continuing: (a) Investments permitted in accordance with the provisions of Sections 9.04(10) and 9.04(14); (b) Permitted Intercompany Debt; and (c) Investments in Obligors.

More Definitions of Permitted Intercompany Debt

Permitted Intercompany Debt means Debt owed by any Borrower to any other Borrower; provided that such Debt is either evidenced by a promissory note or maintained in the form of open account balances in which, in either case, the Collateral Agent has a first priority, perfected security interest under the Interim Borrowing Order, the Borrowing Order or the Security Agreement at all times until such security interest is released pursuant to Section 18 thereof.

Permitted Intercompany Debt means any Indebtedness of the Borrower or any Subsidiary that is extended by the Borrower or a Subsidiary to the Borrower or another Subsidiary, as applicable; provided that the aggregate amount of such Indebtedness owed by any Unrestricted Subsidiary to the Borrower or a Restricted Subsidiary shall not exceed $25,000,000.

Permitted Intercompany Debt means Debt of any Note Party or Subsidiary of a Note Party owed to one or more Subsidiaries of the Company, which Debt is secured by a direct or indirect pledge of the equity interests of any Subsidiary of the obligor of such Debt.

Permitted Intercompany Debt means that certain Second Amended and Restated Term Note dated February 4, 2021 made by Corridor MoGas, Inc. in favor of MoGas HoldCo (as successor by assignment to CorEnergy) in a principal amount not to exceed $84,085,023.

Permitted Intercompany Debt means unsecured Indebtedness between or among one or more Loan Parties; provided that (a) such Indebtedness is expressly subordinated to the prior payment in cash and in full to the Obligations pursuant a written agreement in form and substance reasonably acceptable to Collateral Agent, (b) such Indebtedness does not mature earlier than the date 91 days following the Maturity Date and (c) (i) any subsequent issuance or transfer of Capital Stock in a Loan Party that results in any such Indebtedness being held by a Person other than Loan Party and (ii) any sale or other transfer of any such Indebtedness to a Person that is not a Loan Party will be deemed, in each case, to no longer constitute an incurrence of Permitted Intercompany Debt.

Permitted Intercompany Debt means unsecured Debt owing by an Obligor to any other Obligor.

Permitted Intercompany Debt shall have the meaning provided in Section 6.03(6).