Common use of Additional Borrowings Clause in Contracts

Additional Borrowings. Incur any Debt for borrowed money in excess of $50,000 in any fiscal year, other than (a) the Debt evidenced by this Agreement, (b) Debt in existence on the Effective Date, and (c) Debt in an amount not to exceed $150,000 at any time outstanding to fund the acquisition of equipment in the ordinary course of business for resale within six months.

Appears in 2 contracts

Sources: Subordinated Loan Agreement (Rurbanc Data Services Inc), Subordinated Loan Agreement (Rurbanc Data Services Inc)

Additional Borrowings. Incur any Debt for borrowed money in excess of $50,000 in any fiscal year, other than (a) the Debt evidenced by this Agreement, (b) Debt in existence on the Effective DateApril 25, 2009, and (c) Debt in an amount not to exceed $150,000 at any time outstanding to fund the acquisition of equipment in the ordinary course of business for resale within six months.

Appears in 1 contract

Sources: Subordinated Loan Agreement (Rurbanc Data Services Inc)