Permitted Working Capital Indebtedness means Indebtedness of the Company and its Subsidiaries under the Revolving Credit Facility and under any other agreement, instrument, facility or arrangement that is intended to provide working capital financing or financing for general corporate purposes (including any asset securitization facility involving the sale of accounts receivable); provided that the aggregate outstanding amount of such Indebtedness of the Company and its Subsidiaries, at the time of incurrence, shall not exceed the greater of (a) the sum of (i) 65% of the net aggregate book value of all inventory of the Company and its Subsidiaries at such time and (ii) 85% of the net aggregate book value of all accounts receivable (net of bad debt expense) of the Company and its Subsidiaries at such time and (b) $250 million.
Permitted Working Capital Indebtedness. Prohibited Investment" "Property" "Purchase Date" "Refinancing Indebtedness" "Restricted Payment"
Permitted Working Capital Indebtedness means Indebtedness incurred or maintained by the Borrower after the Effective Date to provide working capital and which shall be subordinated to all Liens securing the Lender, now and in the future, and which shall not exceed $1,000,000 in the aggregate at any time.
Examples of Permitted Working Capital Indebtedness in a sentence
Within 360 days after the receipt of any Net Proceeds from an Asset Sale, the Company or any such Restricted Subsidiary shall apply such Net Proceeds to reduce Indebtedness under Permitted Working Capital Indebtedness or any other Indebtedness of a Restricted Subsidiary of the Company (and, in the case of such Indebtedness other than Indebtedness under Permitted Working Capital Indebtedness, to correspondingly reduce commitments with respect thereto).
More Definitions of Permitted Working Capital Indebtedness
Permitted Working Capital Indebtedness has the meaning set forth in the definition of "Permitted Indebtedness".
Permitted Working Capital Indebtedness means Indebtedness of the Borrower and its Restricted Subsidiaries under the Revolving Credit Facility and under any other agreement, instrument, facility or arrangement that is intended to provide working capital financing or financing for general corporate purposes (including any asset securitization facility involving the sale of accounts receivable); provided that the aggregate outstanding amount of such Indebtedness of the Borrower and its Restricted Subsidiaries, at the time of incurrence, shall not exceed greater of (a) the sum of (i) 50% of the net aggregate book value of all inventory of the Borrower and its Restricted Subsidiaries at such time and (ii) 80% of the net aggregate book value of all accounts receivable (net of bad debt expense) of the Borrower and its Restricted Subsidiaries at such time and (b) $175,000,000.
Permitted Working Capital Indebtedness has the meaning ascribed to such term in Section 3.2(f).
Permitted Working Capital Indebtedness means Indebtedness of the Company and its Restricted Subsidiaries under any agreement, instrument, facility or arrangement that is intended to provide working capital financing or financing for general corporate purposes (including any asset securitization facility involving the sale of accounts receivable); PROVIDED that the aggregate outstanding amount of such Indebtedness of the Company and its Restricted Subsidiaries, at the time of incurrence, shall not exceed the lesser of (a) the sum of (i) 60% of the net aggregate book value of all inventory (100% of the aggregate fair market value in the case of the Owned Precious Metal Inventory) of the Company and its Restricted Subsidiaries at such time and (ii) 80% of the net aggregate book value of all accounts receivable (net of bad debt expense) of the Company and its Restricted Subsidiaries at such time and (b) the sum of (i) $350.0 million and (ii)100% of the aggregate fair market value of the Owned Precious Metal Inventory.
Permitted Working Capital Indebtedness means Indebtedness for borrowed money incurred by any Loan Party (other than the Borrower) pursuant to a revolving credit facility for working capital purposes; PROVIDED that the aggregate principal amount of all such Indebtedness outstanding at any time shall not exceed $20,000,000.
Permitted Working Capital Indebtedness means an inventory factoring facility of non-convertible Indebtedness, which Indebtedness shall be solely secured by inventory of the Company subject to such factoring and shall otherwise be subordinate to the Notes, in an aggregate amount not to exceed $1.5 million.
Permitted Working Capital Indebtedness means Indebtedness incurred for working capital purposes.