Permitted Trade Payables definition

Permitted Trade Payables means, (x) unsecured indebtedness in respect of trade payables incurred in the ordinary course of business relating to the ownership, maintenance and operation of the Properties (“Trade Payable Financing”) and (y) equipment financing entered into in the ordinary course of Borrower’s business for non-fixture equipment related to the ownership, maintenance and operation of the Properties (“Equipment Financing”) that satisfied each of the following conditions:

Permitted Trade Payables has the meaning set forth in clause (xxiii) of the definition of “Special Purpose Entity”.

Permitted Trade Payables shall have the meaning set forth in Section 3.1.24(d) hereof.

Examples of Permitted Trade Payables in a sentence

• Borrower shall not incur, create, assume, allow to exist, become or be liable in any manner with respect to any other indebtedness or monetary obligations, except for the Indebtedness and Permitted Trade Payables.

• There are no prior assignments of (i) the Tenant Leases, (ii) any portion of the Rents due and payable or to become due and payable or (iii) any other Collateral (except the assignments of Collateral, set forth on Schedule XXI, which secure Permitted Trade Payables and FF&E Financings which in the aggregate do not exceed the Maximum Permitted Trade Payables and FF&E Financings and other Permitted Encumbrances), which will be outstanding following the Closing Date.

• Borrower shall not incur, create, assume, allow to exist, become or be liable in any manner with respect to any other Indebtedness or monetary obligations, except for the Debt, Permitted Trade Payables and Permitted Equipment Leases.

• Other than the Debt, Borrower shall not create, incur, guaranty or assume any debt (including without limitation Guaranteed Indebtedness) other than (i) Permitted Trade Payables or (ii) FF&E Financings, in an aggregate amount not to exceed the Maximum Permitted Trade Payables/FF&E Financings.

• Borrower shall not allow any trade payables (including but not limited to Permitted Trade Payables) to be outstanding for more than sixty (60) days.

More Definitions of Permitted Trade Payables

Permitted Trade Payables shall have the meaning set forth in the definition of “Single Purpose Entity.”

Permitted Trade Payables has the meaning set forth in Section 8.4.1.

Permitted Trade Payables means unsecured trade and/or operational indebtedness incurred by Borrower in the ordinary course of business in amounts that are normal and reasonable under the circumstances relating to the ownership and operation of the Property which (a) does not exceed, at any time, a maximum amount of three percent (3%) of the Principal Indebtedness (other than trade payables owing to contractors and suppliers in connection with any Restoration or other Capital Expenditures undertaken in accordance with the other applicable provisions of this Agreement, for which such aggregate limit shall not be applicable), (b) is not evidenced by a note, and (c) is due not more than sixty (60) days past the date incurred and paid on or prior to such date (unless contested by Borrower in good faith).

Permitted Trade Payables means unsecured trade payables which are customarily and actually required to be satisfied within thirty (30) days.

Permitted Trade Payables means, with respect to any Company Party, (a) for the period commencing as of the date hereof and ending on the date that is thirty (30) days after the Final Closing, all trade accounts payable arising in the ordinary course of business of any Company Party, and (b) at all other times, (i) trade accounts payable that remain unpaid more than one hundred twenty-one (121) days past their due dates so long as such trade accounts payable are being diligently contested by the applicable Company Party in good faith, (ii) trade accounts payable that remain unpaid sixty (60) days past their due dates but not later than one hundred twenty (120) days past their due dates so long as such trade accounts payable are (y) being diligently contested by the applicable Company Party in good faith or (z) not in excess of $100,000 in the aggregate, and (iii) trade accounts payable that remain unpaid for less than sixty (60) days past their due dates.

Permitted Trade Payables means trade accounts payable (other than for borrowed money) arising, and accrued expenses incurred, in the ordinary course of business, so long as such trade accounts payable are payable within ninety (90) days after the date the respective goods are delivered or the respective services are rendered.

Permitted Trade Payables. Exhibit C, clause (xx)