Common use of Indebtedness and Guarantees Clause in Contracts

Indebtedness and Guarantees. (a) Except as described in subparagraph (b) below, and except for amounts stated on or properly reserved for in the Most Recent Financial Statements, the Company does not have any Indebtedness. As used herein, the term "Indebtedness" means any obligations for or in respect of (i) borrowed money (including without limitation, accrued interest thereon), (ii) the deferred purchase price of property or services (other than trade payables and other accrued current liabilities incurred in the Ordinary Course of Business), (iii) capital lease obligations, conditional sale or other title retention agreements or (iv) declared and unpaid dividends. The Company is not a guarantor or otherwise liable for any Liability or obligation of any other Person.

Indebtedness and Guarantees. (a) Except as described set forth in subparagraph (b) belowSection 3.10 of the Disclosure Schedule, and except for amounts stated on or properly reserved for in the Most Recent Financial Statements, the Company does not have any Indebtedness. As used herein, the term "Indebtedness" means any obligations for or in respect of (i) borrowed money (including without limitation, accrued interest thereon), (ii) the deferred purchase price of property or services (other than trade payables and other accrued current liabilities incurred in the Ordinary Course of Business), (iii) capital lease obligations, conditional sale or other title retention agreements or (iv) declared and unpaid dividends. The Company is not a guarantor or otherwise liable for any Liability or obligation of any other Person.