Existing Indebtedness of the Loan Parties. The Administrative Agent and the Lenders shall be satisfied that there is no outstanding Indebtedness for borrowed money of each Borrower and its Subsidiaries (other than Indebtedness permitted to exist pursuant to Section 7.02).
Appears in 2 contracts
Sources: Credit Agreement (Movado Group Inc), Credit Agreement (Movado Group Inc)
Existing Indebtedness of the Loan Parties. The Administrative Agent and the Lenders shall be satisfied that there is no outstanding Indebtedness for borrowed money of each any Borrower and its any of their Subsidiaries (other than Indebtedness permitted to exist pursuant to Section 7.027.02 of the Credit Agreement).
Appears in 1 contract
Sources: Credit Agreement (Movado Group Inc)