Debt Reduction. Immediately prior to the Subsequent Closing, total outstanding indebtedness for funded debt or available borrowings to the Company, not including the Notes issued at the Initial Closing, shall not exceed $114 million, including debt evidenced by loans from the FCC and Lucent Technologies, Inc., and all documentation governing or evidencing such indebtedness and any collateral therefor shall be acceptable to each Purchaser in its sole and absolute discretion.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Metropcs Communications Inc), Securities Purchase Agreement (Metropcs California/Florida Inc)