Secured Debt. The Company will not at any time permit the aggregate principal amount of all indebtedness of the Company secured by any Lien on assets of the Company to be outstanding for more than 60 days at a time without re-payment thereof and shall not at any time permit the aggregate unpaid principal amount of all indebtedness of the Company secured by any Liens on assets of the Company to exceed an amount equal to 5% of the fair market value of all assets of the Company at the time of incurrence of any such indebtedness, provided, for the purposes of this Section 10.6, short sales, futures transactions and swap transactions effected in accordance with the 1940 Act and applicable interpretative guidance issued by the SEC will not be prohibited or restricted by this Section 10.6.
Appears in 5 contracts
Samples: Tortoise Power (Tortoise Power & Energy Infrastructure Fund Inc), Credit Agreement (Tortoise North American Energy Corp), First Amendment Agreement (Tortoise Energy Capital Corp)
Secured Debt. The Company will not at any time permit the aggregate principal amount of all indebtedness of the Company secured by any Lien on assets of the Company to be outstanding for more than 60 days at a time without re-payment re‑payment thereof and shall not at any time permit the aggregate unpaid principal amount of all indebtedness of the Company secured by any Liens on assets of the Company to exceed an amount equal to 5% of the fair market value of all assets of the Company at the time of incurrence of any such indebtedness, provided, for the purposes of this Section 10.6, short sales, futures transactions and swap transactions effected in accordance with the 1940 Act and applicable interpretative guidance issued by the SEC will not be prohibited or restricted by this Section 10.6.
Appears in 5 contracts
Samples: Purchase Agreement (Tortoise Pipeline & Energy Fund, Inc.), Note Purchase Agreement (Tortoise MLP Fund, Inc.), Note Purchase Agreement (Tortoise MLP Fund, Inc.)
Secured Debt. The Company will not at any time permit the aggregate unpaid principal amount of all indebtedness Indebtedness of the Company secured by Liens on any Lien on assets of the Company (“Secured Indebtedness”) to be outstanding for more than 60 days at a time without re-payment thereof and shall and, in addition, will not at any time permit the aggregate unpaid principal amount of all indebtedness Secured Indebtedness to exceed 5% -24- Xxxxx Xxxxxxxx MLP Investment Company Note Purchase Agreement of the Company secured by any Liens on assets of the Company to exceed an amount equal to 5% of the fair market value of all assets of the Company Total Assets at the time of incurrence of any such indebtednessIndebtedness, provided, provided for the purposes of this Section 10.6section, short sales, futures transactions and swap transactions effected in accordance with the 1940 Act and applicable interpretative interpretive guidance issued by the SEC will not be prohibited or restricted by this Section 10.6covenant.
Appears in 1 contract
Samples: Note Purchase Agreement
