Designation of Indebtedness Clause Samples

The Designation of Indebtedness clause defines which specific debts or financial obligations are recognized and governed under the terms of the agreement. It typically lists or references particular loans, credit facilities, or other forms of indebtedness that are subject to the contract’s provisions, ensuring that only those identified obligations are included. This clause is essential for clarifying the scope of the agreement, preventing ambiguity about which debts are covered, and thereby reducing the risk of disputes over unlisted or unrelated obligations.
Designation of Indebtedness. The indebtedness incurred hereunder constitutes "Senior Debt" or "Senior Indebtedness", as the case may be (and, accordingly, "Designated Senior Debt" or "Designated Senior Indebtedness", as the case may be) under the Senior Subordinated Debt Indentures and the other Senior Subordinated Debt Documents.
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Designation of Indebtedness. The indebtedness of the Subsidiary Guarantors under Section 2.1(a) hereunder constitutes “Senior Debt” or “Senior Indebtedness”; and “Designated Senior Debt” or “Designated Senior Indebtedness”, as the case may be, within the meaning of the Senior Subordinated Debt Documents.
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Designation of Indebtedness. The Obligations constitute senior indebtedness that is entitled to the benefits of the subordination provisions of any subordinated debt documents, if any, of all Indebtedness of the Borrowers and their Subsidiaries.
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Designation of Indebtedness. The indebtedness of the Parent hereunder constitutes “Senior Debt” or “Senior Indebtedness”; and “Designated Senior Debt” or “Designated Senior Indebtedness”, as the case may be, within the meaning of the Senior Subordinated Debt Documents.
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Designation of Indebtedness. 96 12.14. Amendments to Security Documents, Etc....................................96 12.15. USA PATRIOT Act..........................................................97 SCHEDULES SCHEDULE I - Commitments SCHEDULE II - Subsidiaries; Investments in Joint Ventures and Other Persons SCHEDULE III - Credit Agreements, Indentures, Leases SCHEDULE IV - Existing Letters of Credit EXHIBITS EXHIBIT A-1 - Form of Revolving Credit Note EXHIBIT A-2 - Form of Term Note EXHIBIT B - Subsidiary Guaranty EXHIBIT C - Company Guaranty EXHIBIT D - Company Pledge Agreement EXHIBIT E - Subsidiary Pledge Agreement EXHIBIT F - Canadian Borrower Pledge Agreement EXHIBIT G-1 - Form of Opinion of Special New York Counsel to the Company EXHIBIT G-2 - Form of Opinion of Special Pennsylvania Counsel to the Company EXHIBIT G-3 - Form of Opinion of Special Nova Scotia Counsel to the Canadian Borrower EXHIBIT H - Form of Opinion of Special New York Counsel to the Administrative Agent EXHIBIT I - Exemption Certificate EXHIBIT J - Form of Acknowledgment and Confirmation of Guarantee or Security Document EXHIBIT K - Form of Commitment Increase Supplement EXHIBIT L - Form of Additional Lender Supplement EXHIBIT M - Form of Incremental Term Loan Activation Notice EXHIBIT N - Form of Assignment and Assumption EXHIBIT O - Form of Lender Addendum ANNEXES ANNEX A - Canadian Borrower Provisions SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT dated as of July 8, 2004, among: IRON MOUNTAIN INCORPORATED, a corporation duly organized and validly existing under the laws of the Commonwealth of Pennsylvania (together with its successors and as more fully defined below, the "COMPANY"); IRON MOUNTAIN CANADA CORPORATION, a company organized and existing under the laws of the Province of Nova Scotia (formerly known as ▇▇▇▇▇▇ ▇▇▇▇▇ Canada Company) (the "CANADIAN BORROWER"); each of the lenders that is listed under the caption "US$ LENDERS" on the signature pages hereto and each lender or financial institution that becomes a "US$ LENDER" after the date hereof pursuant to Section 12.06 hereof (individually, together with its successors, a "US$ LENDER" and, collectively, together with their respective successors, the "US$ LENDERS"); each of the lenders that is listed under the caption "US$-CANADIAN LENDERS" on the signature pages hereto and each lender or financial institution that becomes a "US$-CANADIAN LENDER" after the date hereof pursuant to Section 12.06 hereof (individually, together with its successors, a "US...
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Designation of Indebtedness. For purposes of the Collateral Trust Agreement and the other Loan Documents, each of the parties hereto (w) agrees that all Indebtedness incurred by the Borrowers and their respective Restricted Subsidiaries under this Agreement shall constitute Indebtedness incurred under an Additional Secured Debt Facility (as defined in the Collateral Trust Agreement), (x) agrees that all Secured Obligations (as defined in the U.S. Security Agreement) will be and are secured equally and ratably by all Transaction Liens (as defined in the Collateral Trust Agreement) granted to the Collateral Trustee for the benefit of the Secured Parties (as defined in the Collateral Trust Agreement), at any time granted by any Grantor (as defined in the Collateral Trust Agreement) to secure any Secured Obligations (as defined in the U.S. Security Agreement) whether or not upon property otherwise constituting collateral to such Secured Obligations (as defined in the U.S. Security Agreement) and that all Transaction Liens (as defined in the Collateral Trust Agreement) granted pursuant to the Security Documents (as defined in the Collateral Trust Agreement) will be enforceable by the Collateral Trustee for the benefit of all holders of Secured Obligations (as defined in the U.S. Security Agreement) equally and ratably as contemplated by the Collateral Trust Agreement, (y) agrees that the holders of Secured Obligations (as defined in the U.S. Security Agreement) in respect of such Additional Secured Debt Facility (as defined in the Collateral Trust Agreement) shall be bound by the provisions of, and agree to the terms of, the ABL Intercreditor Agreement and the Collateral Trust Agreement, including the provisions relating to the ranking of Transaction Liens (as defined in the Collateral Trust Agreement) and the order of application of proceeds from the enforcement of Transaction Liens (as defined in the Collateral Trust Agreement) and (z) consents to and directs the Collateral Trustee to perform its obligations under the Collateral Trust Agreement, the ABL Intercreditor Agreement and the other Security Documents (as defined in the Collateral Trust Agreement).
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Designation of Indebtedness under this Agreement as Senior Indebtedness. All principal of, interest (including all interest accruing after the commencement of any bankruptcy or similar proceeding, whether or not a claim for post-petition interest is allowable as
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Designation of Indebtedness. Amendments to Security Documents, Etc..
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Related to Designation of Indebtedness

  • Confirmation of Indebtedness Borrowers confirm and acknowledge that as of the close of business on September 30, 2014, Borrowers were indebted to Lenders for the (a) Advances under the Loan Agreement without any deduction, defense, setoff, claim or counterclaim, of any nature, in the aggregate principal amount of $22,817,930.38 due on account of Revolving Advances and $0.00 on account of undrawn Letters of Credit, plus in each case all fees, costs and expenses incurred to date in connection with the Loan Agreement.

  • Subordination of Indebtedness Any indebtedness or other obligation of Borrower now or hereafter held by or owing to Guarantor is hereby subordinated in time and right of payment to all obligations of Borrower to Bank, except as such indebtedness or other obligation is expressly permitted to be paid under the Credit Agreement; and such indebtedness of Borrower to Guarantor is assigned to Bank as security for this Guaranty, and if Bank so requests shall be collected, enforced and received by Guarantor in trust for Bank and to be paid over to Bank on account of the Obligations of Borrower to Bank, but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. Any notes now or hereafter evidencing such indebtedness of Borrower to Guarantor shall be marked with a legend that the same are subject to this Guaranty and shall be delivered to Bank.

  • Cancellation of Indebtedness No Credit Party shall cancel any claim or debt owing to it, except for reasonable consideration negotiated on an arm's-length basis and in the ordinary course of its business consistent with past practices.

  • Satisfaction of Indebtedness Your securities and other property, in any account in which you have an interest, will be subject to a lien for the discharge of any and all indebtedness or any other obligations. All securities and other property of yours will be held by HTS or your Financial Professional as security for the payment of any such obligations or indebtedness in any account that you may have an interest, subject to applicable law. HTS or your Financial Professional may, at any time and without prior notice to you, use and/or transfer any or all securities and other property in any account(s) in which the Customer has an interest.

  • Evidence of Indebtedness (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note payable to such Lender, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. (b) In addition to the accounts and records referred to in Section 2.11(a), each Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or records and, in the case of the Administrative Agent, entries in the Register, evidencing the purchases and sales by such Lender of participations in Letters of Credit and Swing Line Loans. In the event of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. (c) Entries made in good faith by the Administrative Agent in the Register pursuant to Sections 2.11(a) and (b), and by each Lender in its account or accounts pursuant to Sections 2.11(a) and (b), shall be prima facie evidence of the amount of principal and interest due and payable or to become due and payable from the Borrower to, in the case of the Register, each Lender and, in the case of such account or accounts, such Lender, under this Agreement and the other Loan Documents, absent manifest error; provided that the failure of the Administrative Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect the obligations of the Borrower under this Agreement and the other Loan Documents.