Debt Restriction. Incur, assume, guarantee or otherwise create any Debt other than: (a) the Loans and Standby L/Cs provided for pursuant to this Agreement; (b) Debt relating to purchase money Liens permitted by Section 7.1(e); (c) Debt not exceeding an aggregate of $6 million at any time, which Debt is fully subordinated to the payment of Debt owed to the Banks; and (d) Debt not exceeding an aggregate of $3 million at any time, which Debt is assumed by any Borrower in connection with acquisitions permitted by Section 2.11.
Appears in 2 contracts
Sources: Revolving Credit and Term Loan Agreement (MPW Industrial Services Group Inc), Revolving Credit Loan Agreement (MPW Industrial Services Group Inc)