Clauses
Indebtedness

Indebtedness

Indebtedness clause is a contractual clause that details the terms and obligations related to debts or financial liabilities of a party. Common in loan and financing agreements, it specifies the amount, timing, repayment terms, and covenants governing the debt, ensuring clarity and reducing risks or disputes.

Drafting Tip

Define terms related to any debts that are part of the contract, including repayment terms, interest rates, and consequences of default.

Source Quarterly Financial Report (Form 10-Q) [FULL HOUSE RESORTS INC]
(2020-05-13) - DE - Hotels & Motels

Indebtedness. The word "Indebtedness" means and includes without limitation all Loans, together with all other obligations, debts and liabilities of Borrower to Lender, or any one or more of them, as well as all claims by Lender against Borrower, or any one or more of them; whether now or hereafter existing, voluntary or involuntary, due or not due, absolute or contingent, liquidated or unliquidated; whether Borrower may be liable individually or jointly with others; whether Borrower may be obligated as a guarantor, surety, or otherwise; whether recovery upon such indebtedness may be or hereafter may become barred by any statute of limitations; and whether such indebtedness may be or hereafter may become otherwise unenforceable.
Source Share Purchase Agreement [HIGH TIDE INC.]
(2021-03-22) - Z4 - Retail-Retail Stores, NEC

The Company shall not create, incur, assume or otherwise become liable, in one transaction or in a series of related transactions, with respect to any indebtedness for borrowed moneys or guarantees thereof in an amount, on a per transaction or series of related transactions basis, in excess of $25,000;
Source Purchase Agreement [CONTANGO ORE, INC.]
(2020-09-30) - DE - Gold and Silver Ores

The Company has not incurred any indebtedness for borrowed money or guaranteed any such Indebtedness of another Person other than in connection with the financing of the operations of the Company in the ordinary course of business.
Source Distribution Agreement [BAYVIEW ACQUISITION CORP]
(2020-12-10) - NV - Communications Equipment, NEC

The word "Indebtedness" means the indebtedness evidenced by the Note or Related Documents, including all principal and interest together with all other indebtedness and costs and expenses for which Borrower is responsible under this Agreement or under any of the Related Documents.
Source Term Loan Credit Agreement [ALLEGRO MICROSYSTEMS, INC.]
(2020-10-13) - Semiconductors & Related Devices

Indebtedness shall mean and include all obligations that constitute 'Indebtedness' within the meaning of the Initial Second Priority Facility or the Initial First Lien Facility.
Source Term Loan Credit Agreement [ALLEGRO MICROSYSTEMS, INC.]
(2020-10-13) - Semiconductors & Related Devices

"Indebtedness" shall mean and include all obligations that constitute "Indebtedness" within the meaning of the Other First Lien Agreement or the Term Loan Credit Agreement, as applicable.
Source Credit Agreement Amendment [ANTERO RESOURCES CORP]
(2020-02-12) - Crude Petroleum & Natural Gas

Section 7.01 of the Credit Agreement is hereby amended as follows: (i) Section 7.01(g) is hereby amended by deleting the word 'and' at the end of such section, (ii) Section 7.01(h) is hereby re-lettered as a new Section 7.01(i), and (iii) a new Section 7.01(h) of the Credit Agreement is hereby added in its entirety to read as follows: (h) Indebtedness in respect of performance bonds, bid bonds, appeal bonds, surety bonds and completion guarantees and similar obligations not in connection with money borrowed, in each case provided in the ordinary course of business or consistent with past practice, including those incurred to secure health, safety and environmental obligations in the ordinary course of business or consistent with past practice.
Source Development Funding Agreement [APELLIS PHARMACEUTICALS, INC.]
(2019-05-07) - DE - Pharmaceutical Preparations

"Indebtedness" means (a) indebtedness for borrowed money or the deferred price of property or services (excluding any trade accounts incurred in the ordinary course of business), such as reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations (as such term is understood under GAAP as in effect on the date of this Agreement) and (d) Contingent Obligations.
Source Restated Certificate of Incorporation [ATLAS HOLDINGS, INC.]
(2018-04-13) - Pharmaceutical Preparations

The conditions or restrictions, if any, to be effective while any shares of such series are outstanding upon the creation of indebtedness of the Corporation upon the issue of any additional stock, including additional shares of such series or of any other series of this class or of any other class.
Source Share Purchase Agreement [AURORA CANNABIS INC]
(2018-10-05) - A1 - Medicinal Chemicals & Botanical Products

Except as set forth in Section 3.1(h) of the CanvasRx Disclosure Letter, CanvasRx does not have any outstanding bonds, debentures, notes, mortgages or other indebtedness and CanvasRx has not agreed to create or issue any bonds, debentures, notes, mortgages or other indebtedness which will mature more than one (1) year after the date of their creation or issuance.
Source Share Purchase Agreement [AURORA CANNABIS INC]
(2018-10-05) - A1 - Medicinal Chemicals & Botanical Products

The Aurora Group Companies do not have any outstanding bonds, debentures, notes, mortgages or other indebtedness and no Aurora Group Company has agreed to create or issue any bonds, debentures, notes, mortgages or other indebtedness which will mature more than one (1) year after the date of their creation or issuance.
Source Distribution Agreement [BAYVIEW ACQUISITION CORP]
(2020-12-10) - NV - Communications Equipment, NEC

"new Indebtedness" does not include all or part of the Indebtedness that is: incurred by Borrower prior to revocation; incurred under a commitment that became binding before revocation; any renewals, extensions, substitutions, and modifications of the Indebtedness.
Source Distribution Agreement [BAYVIEW ACQUISITION CORP]
(2020-12-10) - NV - Communications Equipment, NEC

The word 'Indebtedness' means Borrower's indebtedness to Lender as more particularly described in this Guaranty.
Source Agreement and Plan of Merger [BILL BARRETT CORP]
(2017-12-05) - DE - Crude Petroleum & Natural Gas

create, incur, guarantee or assume any Indebtedness for borrowed money other than (A) Indebtedness outstanding on the Execution Date, (B) borrowings under the Existing Parent Credit Facility in accordance with its terms as of the date hereof (except as it may be amended to permit the Merger and the Transactions contemplated hereby, and in connection with the addition of the Company or any of its Subsidiaries as parties thereto at or after the Closing Date), and (C) Indebtedness solely among Parent and/or any Subsidiaries thereof
Source Intellectual Property License Agreement [BIODESIX INC]
(2020-10-09) - DE - Services-Medical Laboratories

Borrower shall not create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness.
Source Contribution Agreement [BJ SERVICES, INC.]
(2017-07-14) - DE - Oil & Gas Field Services, NEC

create, incur, assume or otherwise become liable with respect to any indebtedness for borrowed money with respect to the Baker Hughes Contributed Business or guarantees thereof, except for trade credit or trade payables incurred in the ordinary course of business consistent with past practice and guarantees of indebtedness incurred under existing credit facilities, which guarantees will be terminated prior to or as of the Closing;
Source Equity Capital Contribution Agreement [BLOOM ENERGY CORP]
(2018-03-21) - DE - Electrical Industrial Apparatus

means indebtedness for borrowed money and any capital lease of any property as lessee, but expressly does not include short-term (i.e., less than one year in maturity) trade payables or operating leases incurred in the ordinary course of business.
Source Loan Agreement [BUTLER NATIONAL CORP]
(2021-03-12) - DE - Services-Miscellaneous Amusement & Recreation

Borrowers shall not directly or indirectly, incur, create, assume, guarantee, become contingently liable in connection with, or suffer to exist any indebtedness except a) liabilities to Lender; b) trade payables that arise in the ordinary and usual course of the ownership and leasing of the Premises in accordance with the Manager Lease; c) trade payables that arise in the ordinary and usual course of the Business in accordance with the Facility Management Contract; d) indebtedness secured by Permitted Liens; e) unsecured indebtedness in an aggregate amount for both Borrowers not to exceed $250,000.00 at any time outstanding; f) capital expenditures as required by the Facility Management Contract; and g) leases and purchases of gaming equipment required to operate the Business in accordance with the Facility Management Contract.
Source Tender Offer Document [CAFEPRESS INC.]
(2018-10-12) - DE - Retail-Miscellaneous Retail

incur any indebtedness (including the issuance of any debt securities, warrants or other rights to acquire any debt security) in excess of $50,000;
Source Employment Agreement [BROOGE HOLDINGS LTD]
(2019-09-27) - E9 - Petroleum Refining

The Company does not have any Indebtedness for more than $500,000 other than the Indebtedness set forth on Schedule 6.7(c), and in such amounts (including principal and any accrued but unpaid interest or other obligations with respect to such Indebtedness), as set forth on Schedule 6.7(c). Except as disclosed on Schedule 6.7(c), no outstanding Indebtedness of the Company contains any restriction upon (i) the prepayment of any of such Indebtedness, (ii) the incurrence of Indebtedness by the Company, or (iii) the ability of the Company to grant any Lien on its properties or assets.
Source Term Loan Credit Agreement [CAPITAL TRUST INC]
(2020-07-29) - MD - Real Estate Investment Trusts

Section 6.02. Liens 107 Section 6.03. [Reserved] 112 Section 6.04. Restricted Payments; Restricted Debt Payments 112 Section 6.05. Burdensome Agreements 115 Section 6.06. Investments 117 Section 6.07. Fundamental Changes; Disposition of Assets 120 Section 6.08. [Reserved] 124 Section 6.09. Transactions with Affiliates 124 Section 6.10. Conduct of Business 126 Section 6.11. [Reserved] 126 Section 6.12. Fiscal Year 126 Section 6.13. Financial Covenant 126

Say goodbye to Ctrl + C Ctrl + V

Get access to powerful clause drafting, directly in Microsoft Word. No copying and pasting required.

  • Save your favourite clauses
  • Insert directly with a single click
  • Upload preferred precedents
Try Spellbook Free

Start your 7-day free trial

Please enter your work email address (not gmail, yahoo, etc.)
*Required

Thank you for your interest!

Oops! Something went wrong while submitting the form.

Join over 2,600 legal teams using Spellbook

Please enter your work email address (not gmail, yahoo, etc.)
*Required
Close modal

Thank you for your interest! We are currently only onboarding legal professionals.

Oops! Something went wrong while submitting the form.