Current Debt Sample Clauses

Current Debt. The Company will not and will not permit any Restricted Subsidiary to have outstanding or in any other manner be liable in respect of any Current Debt of the type described in clause (a) of the definition of "Debt" (excluding, in any case, from such Debt the Current Maturities of Funded Debt) unless during the period of 12 consecutive calendar months then most recently ended there shall have been a period of at least 45 consecutive days during which no Consolidated Current Debt of the type described in clause (a) of the definition of "Debt" (excluding, in any case, from such Debt the Current Maturities of Funded Debt) shall have been outstanding on each day of such period.

Current Debt. The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly, create, incur, assume, guarantee, or otherwise become directly or indirectly liable with respect to, any Current Debt, other than Existing Current Debt, InterCompany Debt and Swaps, unless, immediately after giving effect thereto and to the application of the proceeds thereof, (a) no Default or Event of Default exists, and (b) there shall have been a period of 30 consecutive days during the period of 12 consecutive months then most recently ended on each day of which either 108 (i) no Consolidated Current Debt was outstanding, or (ii) the Company or such Restricted Subsidiary could have incurred (but did not incur) Senior Funded Debt pursuant to Section 10. 1 in an amount not less than the amount of Consolidated Current Debt outstanding on such day. Any Person becoming a Restricted Subsidiary at any time shall be deemed to have incurred at such time all of its Debt outstanding at such time.

Current Debt. Each of the Seller and Purchaser confirms, acknowledges, covenants and agrees that: (a) the Seller has incurred certain indebtedness in relation to the development and construction of the Property, the particulars of which are set out in Schedule 4.6 attached hereto (collectively, the “Current Debt”); and (b) the Purchaser shall be required, on or before Closing, to (i) provide: (x) substitute security to the applicable Governmental Authorities, and applicable lenders, in substitution for any security provided by the Seller and/or its shareholders (the “Existing Security”) in respect of such Current Debt, and (y) the return of such Existing Security to the Seller and/or its shareholders, as applicable, and (ii) obtain releases in favour of the Seller and/or any of its shareholders in respect of any covenants provided by such parties in respect of such Current Debt.

Current Debt. As of September 12, 2005, NUR Macroprinters Ltd. (the “Company”) had an outstanding credit facility in the amount of $23,174,300 to Bank Hapoalim B.M. (“BNHP”), $15,899,500 to Bank Leumi Le-Israel B.M. (“BLL”) and $4,280,000 to Israel Discount Bank Ltd. (“Discount”). Each of BNHP, BLL and Discount shall hereinafter be referred to as a “Bank” and shall collectively be referred to as the “Banks”. An amount that is equal to fourteen million two hundred and five thousand U.S. Dollars ($14,205,000), which is to be allocated between the above three Banks’ credit facilities in accordance with the numbers set forth in Section 2 below (the “Converted Amount”), will be converted pursuant to the terms herein and the Company shall be forever released from the repayment of the Converted Amount. The Converted Amount will cease to accrue interest as of the date of this agreement. Five million U.S. Dollars ($5,000,000) (the “Subordinated Debt”) of the remaining portion of the above credit facilities of the Banks (twenty-nine million U.S. Dollars ($29,000,000), shall be subject to the assignment of debt as set forth in the Term Sheet between the Banks and Fortissimo Capital (“Fortissimo”), dated September 12, 2005. The remaining twenty-four million U.S. Dollars ($24,000,000) shall be referred to (in the aggregate) as the “Remaining Amount”. The Subordinated Debt shall be evidenced by an assignable subordinated note (the “Subordinated Note”) in the form to be attached to this Agreement prior to the date of Closing, in such form to be agreed to by the parties. The Subordinated Debt shall not bear interest. In the event of either: (i) a bankruptcy, insolvency or reorganization proceeding under any bankruptcy or insolvency or similar law, whether voluntary or involuntary, which is properly commenced by or against the Company, which proceedings are not lifted or stayed within ninety (90) days thereafter; (ii) a receiver or liquidator is appointed to all, or substantially all, of the Company’s assets which appointment is not lifted or stayed within ninety (90) days thereafter; or (iii) the Company enters into a stay of proceedings pursuant to Section 350 of the Companies Law, 5759 – 1999 which proceedings are not lifted within ninety (90) days (unless such period of time prejudices the rights of the Banks in which case the time period shall not apply), (any of the above three scenarios hereinafter referred to as a “Liquidation”), then after the Banks shall have received an amoun...

Current Debt the borrower's liabilities to be performed before the lender in a specific time period, which contains refunding process of penalty, accured interest and loan’s amount, including reimbursement expenses;

Current Debt. The Company will not, and will not permit any Subsidiary to, directly or indirectly, create, incur, assume, guarantee, or otherwise become directly or indirectly liable with respect to, any Current Debt unless, there shall have been during the immediately preceding 12 month period, a period of not less than 30 consecutive days on each of which there shall have been no Consolidated Current Debt outstanding in excess of the amount of additional Consolidated Funded Debt that the Company and its Subsidiaries would have been permitted to incur (but did not incur) on such day under Section 10.6.

Current Debt. As of the Closing Date, Deep Rock’s outstanding debt includes: (a) an invoice of approximately One Thousand dollars and no/100 ($1,000.00) due the Company’s accountant, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, CPA, located at ▇▇▇ ▇. ▇▇▇▇▇▇▇▇ Rd., Ste 125, Meridian, Idaho 83642; (b) approximately Two Hundred dollars and no/100 ($200.00) due to Idaho Power for the period November 4, 2008 through December 5, 2008; and (c) and a current invoice is pending from the repair of a compressor wheel mounting which shall be complete after Closing. Seller represents and warrants that Deep Rock has no other outstanding debts or financial obligations. Seller shall indemnify, defend and hold harmless Purchaser from any and all claims, losses, damages or litigation in any way arising out of or pertaining to any outstanding financial obligations of the Company prior to the Closing Date. Copies of these outstanding debts are attached hereto as Exhibit E. Immediately following Closing or upon receipt, Purchaser shall pay all of the fore-mentioned debts in full.

Current Debt. In the absence of the occurrence after the date hereof of any event of default or other event causing the acceleration of such indebtedness (which the Company does not reasonably expect), the Company is not obligated (and will not become obligated with notice or the passage of time or both) to pay any amounts to London Pacific (under the convertible debentures issued to it or otherwise) until April 30, 2002.

Current Debt. The Company will not, and will not permit any Subsidiary to, have any Current Debt outstanding on any day unless, within the period of three hundred sixty-five (365) days immediately preceding such day, there shall have been at least one (1) period of not less than forty-five (45) consecutive days during which on each day of such period the aggregate Current Debt of all such Persons did not exceed the amount of additional Funded Debt in favor of a Person other than a Subsidiary that the Company would have been permitted to have outstanding (but did not have outstanding) if the Company were required to maintain a Leverage Ratio of not more than 0.5 to 1.0 on such day.