Common use of Indebtedness for Borrowed Clause in Contracts

Indebtedness for Borrowed. Money of any Person that becomes a Subsidiary after the Closing Date in a transaction permitted under this Agreement; provided that such Indebtedness for Borrowed Money exists at the time such Person becomes a Subsidiary and is not created in contemplation of or in connection with such Person becoming a Subsidiary; provided further, that the aggregate principal amount of Indebtedness for Borrowed Money permitted by this clause (l) shall not exceed $2,500,000 at any time outstanding (together with any refinancings, refundings, extensions or renewals allowed pursuant to 8.7(m) hereof);