Further Indebtedness Clause Samples

Further Indebtedness. The Company hereby covenants and agrees that so long as any principal amount and accrued interest remains outstanding under the Notes issued pursuant to the terms of this Agreement, that it shall not, without the written consent of Purchasers holding Notes representing at least 60% of the principal amount of all Notes then outstanding, incur, guaranty, assume or otherwise become obligated to pay indebtedness, other than amounts under equipment leases existing as of the Initial Closing Date, accounts payable and other obligations incurred in the ordinary course of business, other than pursuant to this Agreement.

Further Indebtedness. The Investor acknowledges that no provision of the Agreement restricts, or shall be construed to restrict, in any way the ability of the Company to incur indebtedness or to issue share capital or other equity securities (or securities convertible into equity securities) of the Company or to grant liens on its property and assets.

Further Indebtedness. Borrower will not incur, create, assume or permit to exist any Debt including, without limitation, any indebtedness or liability on account of deposits or advances, any indebtedness for borrowed money, any indebtedness for capital leases or improvements which are payable over a period longer than one (1) year or any other indebtedness or liability evidenced by notes, bonds, debentures, guaranties or similar obligations, except: (a) indebtedness to Lender; (b) customer deposits; (c) indebtedness to any supplier so long as said indebtedness is repaid to such entity within thirty (30) days of the date the indebtedness is incurred or within such longer time period allowed by any respective supplier to still remain “current”; and (d) indebtedness otherwise described in Section 6.2 hereof.

Further Indebtedness. Except as provided in this Agreement, create or incur any indebtedness for borrowed money which would be senior in repayment to the Loan, or become liable as a surety, guarantor, accommodation endorser, or otherwise, for or on the obligation of any other person, firm, or corporation which would provide a priority of repayment to the Loan; provided, however, that this section shall not prohibit: 5.2.4.1 the acquisition of equipment, goods, supplies, or merchandise on normal credit; 5.2.4.2 the execution of bonds, undertakings, or contracts in the usual course of Borrower's business; or 5.2.4.3 the endorsement of negotiable instruments received in the usual course of Borrower's business.

Further Indebtedness. Such Investor acknowledges that no provision of the Transaction Documents executed and delivered by the Company in connection with this Agreement restricts, or shall be construed to restrict, in any way the ability of the Company to incur indebtedness or to issue share capital or other equity securities (or securities convertible into equity securities) of the Company or to grant liens on its property and assets.

Further Indebtedness. Borrower will not incur, create, assume or permit to exist any indebtedness or liability on account of deposits or advances or any indebtedness for borrowed money, or any other indebtedness or liability evidenced by notes, bonds, debentures, or similar obligations, except: (a) indebtedness to Lender; (b) customer deposits; (c) indebtedness to any supplier so long as said indebtedness is repaid to such entity within 30 days of the date the indebtedness is incurred or within such longer time period allowed by any respective supplier to still remain "current"; and (d) indebtedness otherwise described in Section 6.2 hereof.

Further Indebtedness. Borrower shall not create, incur, assume, permit to exist, or otherwise become or remain directly or indirectly liable with respect to any Indebtedness, other than (a) the Obligations and trade indebtedness incurred in the ordinary course of business provided, that such trade indebtedness shall be unsecured trade payables incurred in the ordinary course of its business that are related to the ownership and operation of the Site and the Collateral not to exceed two percent (2%) of the outstanding balance of the Loan, and which is not evidenced by a note and which must be paid within sixty (60) days and which are otherwise expressly permitted under the Loan Documents; (b) subject to the strict compliance with the terms and conditions set forth in Section 5.17, a PPP Loan.

Further Indebtedness until and including the Fallaway Date, it shall not (and shall procure that no other member of the Group will) incur any further Financial Indebtedness without the prior written consent of the Requisite Holders other than Permitted Financial Indebtedness provided that the Issuer shall be permitted to incur further Financial Indebtedness which is not Permitted Financial Indebtedness without the prior written consent of the Requisite Holders if all of such Financial Indebtedness is to be applied, and is applied within 20 Business Days of incurrence, to redeem the Subordinated Notes.

Further Indebtedness. The Borrower shall not incur any further indebtedness, other than in the ordinary course of business, after the date of the acceptance of the Facilities without prior consent of the Lender, such consent not to be unreasonably withheld and provided always that the Lender’s interests and priority thereof remain pari passu with the further indebtedness;