Permitted Intercompany Indebtedness definition
Permitted Intercompany Indebtedness means Indebtedness of the Borrower or any Restricted Subsidiary owed to the Borrower or any other Restricted Subsidiary; provided that such Indebtedness is either evidenced by a promissory note (which note shall be subordinated to the Obligations in a manner reasonably satisfactory to the Agent) or maintained in the form of open account balances in which, in either case, the Agent has a perfected Security Interest under the Security Agreement at all times until such Security Interest is released pursuant to Section 25 thereof.
Permitted Intercompany Indebtedness means any indebtedness owing (a) by a Credit Party to any other Credit Party in the ordinary course of business consistent with past practice or (b) by a Credit Party to an Affiliate which is not a Credit Party to a Credit Party so long as it is either listed on Disclosure Schedule (3.27) or has been approved of in writing by the Lenders.
Permitted Intercompany Indebtedness shall have the meaning provided in Section 6.17(b).
Examples of Permitted Intercompany Indebtedness in a sentence
Disclosure Schedule (3.27) provides a true and correct list of all Permitted Intercompany Indebtedness along with the amount of Indebtedness existing as of the Restatement Closing Date.
Disclosure Schedule (3.27) provides a true and correct list of all Permitted Intercompany Indebtedness along with the amount of Indebtedness existing as of the Closing Date.
Furthermore, the Seller shall use its best efforts for the Company to repay all of its outstanding Indebtedness prior to or on the Closing Date, with the exception of the Permitted Intercompany Indebtedness and Indebtedness owed by the Company under the Laser Cutting Lease.
The Company shall not permit any Restricted Subsidiary to make any payment on account of principal or interest in respect of the Permitted Intercompany Indebtedness described in Schedule 8V.
The Administrative Agent shall have received any Affiliate Postponement Agreement required in order for Intercompany Indebtedness to be Permitted Intercompany Indebtedness.
More Definitions of Permitted Intercompany Indebtedness
Permitted Intercompany Indebtedness means Indebtedness incurred by any Subsidiary owed to the Company, which Indebtedness was incurred for working capital purposes.
Permitted Intercompany Indebtedness means all Indebtedness of the Borrower or any Restricted Subsidiary owing to the Borrower or any other Subsidiary having a term not exceeding 364 days (inclusive of any and all rollovers and extensions) and incurred in the ordinary course of business; provided that the aggregate amount of Permitted Intercompany Indebtedness owed by Subsidiaries that are not Credit Parties to Credit Parties shall not exceed $100,000,000.
Permitted Intercompany Indebtedness means, with respect to any Group Member at any date, without duplication, (a) Unsecured Indebtedness of such Group Member owing to the Issuer or a Wholly-Owned Subsidiary of the Issuer; provided that (1) unless the lender of such Unsecured Indebtedness is the Issuer, such Group Member or such Wholly-Owned Subsidiary is a Subsidiary Guarantor or, if neither of such Persons is a Subsidiary Guarantor, such Wholly-Owned Subsidiary and each other Subsidiary of the Issuer (other than any Subsidiary Guarantor and any direct or indirect parent of each such Subsidiary Guarantor) that, directly or indirectly, owns Capital Stock of such Wholly-Owned Subsidiary has no Indebtedness outstanding other than Indebtedness owing to (x) the Issuer or (y) another Wholly-Owned Subsidiary of the Issuer which, if not a Subsidiary Guarantor, has no Indebtedness outstanding other than Permitted Intercompany Indebtedness and (2) none of the rights or obligations of such Wholly-Owned Subsidiary in respect of such Unsecured Indebtedness are, directly or indirectly (nor is any income therefrom or proceeds thereof), subject to any Lien or Negative Pledge (other than (i) Liens and Negative Pledges created under this Agreement, (ii) Permitted Pari Passu Provisions, (iii) to secure other Permitted Intercompany Indebtedness and (iv) Permitted Encumbrances of the type described in clause (a) of such definition), (b) Secured Indebtedness owing to a Constituent Company or a Subsidiary Guarantor, and (c) Indebtedness of such Group Member with respect to Pledged Group Member Loans. For the avoidance of doubt, in no event shall any Permitted Intercompany Indebtedness constitute Pari Passu Obligations.
Permitted Intercompany Indebtedness. Indebtedness of the Borrower: (a) under the API Agreement, not to exceed $24,000,000 in aggregate principal amount of such Indebtedness; (b) to Mineral Holdings, not to exceed $12,100,000 in aggregate principal amount of such Indebtedness; (c) to Alleghany Funding Corporation, not to exceed $19,200,000 in aggregate principal amount of such Indebtedness; and (d) in addition to the foregoing, to any one or more of its Subsidiaries, not to exceed $10,000,000 in aggregate principal amount of such Indebtedness as to all such Subsidiaries taken as a whole at any time outstanding.
Permitted Intercompany Indebtedness means any Indebtedness of any member of the Issuer Group owed to another member of the Issuer Group that is either the Issuer or a Subsidiary all of whose Equity Interests are owned, directly or indirectly, by the Issuer.
Permitted Intercompany Indebtedness means all Indebtedness of the Parent Borrower or any Restricted Subsidiary owing to the Parent Borrower or any other Subsidiary having a term not exceeding 364 days (inclusive of any and all rollovers and extensions) and incurred in the ordinary course of business; provided that the aggregate amount of Permitted Intercompany Indebtedness owed by Subsidiaries that are not Credit Parties to Credit Parties shall not exceed $100,000,000.
Permitted Intercompany Indebtedness means Indebtedness of the Borrower or any Restricted Subsidiary owed to the Borrower or any other Restricted Subsidiary; provided that such Indebtedness is either evidenced by a promissory note (which note shall be subordinated to the Obligations in a manner reasonably satisfactory to the Agent if owed by a Credit Party to a Restricted Subsidiary that is not a Subsidiary Guarantor) or maintained in the form of open account balances in which, in either case, the Agent has a perfected Security Interest under the Security Agreement at all times until such Security Interest is released pursuant to Section 25 thereof.