Common use of Additional Borrowing Clause in Contracts

Additional Borrowing. Create, incur, assume or suffer to exist in any manner any additional Debt unless the payment of the Revolving Credit Loans is senior to or ranks pari passu with the payment of such additional Debt, or permit any of its Subsidiaries to create, incur, assume or suffer to exist in any manner any additional Debt; provided that nothing contained in this Section 9.1 shall prohibit (i) the Borrower from incurring any additional Debt as long as the payment of the Revolving Credit Loans is senior to or ranks pari passu with such additional Debt and as long as the creation, incurrence, assumption or existence of such additional Debt would not otherwise result in a violation of this Agreement, (ii) any Debt of any Subsidiary existing as of the date of this Agreement which is described on Schedule 9.1, (iii) any Debt of any Subsidiary owing to the Borrower or any other Subsidiary, (iv) any Debt of any Subsidiary outstanding at the time such Subsidiary becomes a Subsidiary of the Borrower and not incurred in contemplation thereof, as long as the Debt remains the sole obligation of such Subsidiary and as long as the outstanding amount of such Debt is not voluntarily increased by such Subsidiary after the date such Subsidiary becomes a Subsidiary of the Borrower, (v) any obligations of any Subsidiary incurred in the ordinary course of its business in connection with letters of credit, appeal bonds or collateral agreements, in any case related to reinsurance obligations, loss or claims payments under policies of insurance or other regulatory requirements, (vi) any Debt of any Subsidiary incurred in connection with any acquisition financing, provided that such Debt shall not exceed the cost of the acquisition, (vii) any Debt of any Subsidiary incurred in connection with any mortgage, refinancing or sale-leaseback of any real estate currently owned by any Subsidiary, (viii) any Debt of the Borrower or any Subsidiary secured by a Permitted Lien, provided that such Debt does not exceed the value of the assets or property subject to such Permitted Lien, and (ix) any Debt of any Subsidiary under any lease or purchase agreements hereafter incurred, as long as the aggregate of such Debt incurred by the Borrower and its Subsidiaries does not exceed $5,000,000 during any Fiscal Year.

Additional Borrowing. Create, incur, assume or suffer to exist in any manner any additional Debt unless the payment of the Revolving Credit Loans is senior to or ranks pari passu with the payment of such additional Debt, or permit any of its Subsidiaries to create, incur, assume or suffer to exist in any manner any additional Debt; provided that nothing contained in this Section 9.1 10.1 shall prohibit (i) the Borrower from incurring any additional Debt as long as the payment of the Revolving Credit Loans is senior to or ranks pari passu with such additional Debt and as long as the creation, incurrence, assumption or existence of such additional Debt would not otherwise result in a violation of this Agreement, (ii) any Debt of any Subsidiary existing as of the date of this Agreement which is described on Schedule 9.110.1, (iii) any Debt of any Subsidiary owing to the Borrower or any other Subsidiary, (iv) any Debt of any Subsidiary outstanding at the time such Subsidiary becomes a Subsidiary of the Borrower and not incurred in contemplation thereof, as long as the Debt remains the sole obligation of such Subsidiary and as long as the outstanding amount of such Debt is not voluntarily increased by such Subsidiary after the date such Subsidiary becomes a Subsidiary of the Borrower, (v) any obligations of any Subsidiary incurred in the ordinary course of its business in connection with letters of credit, appeal bonds or collateral agreements, in any case related to reinsurance obligations, loss or claims payments under policies of insurance or other regulatory requirements, (vi) any Debt of any Subsidiary incurred in connection with any acquisition financing, provided that such Debt shall not exceed the cost of the acquisition, (vii) any Debt of any Subsidiary incurred in connection with any mortgage, refinancing or sale-leaseback of any real estate currently owned by any Subsidiary, (viii) any Debt of the Borrower or any Subsidiary secured by a Permitted Lien, provided that such Debt does not exceed the value of the assets or property subject to such Permitted Lien, and (ix) any Debt of any Subsidiary under any lease or purchase agreements hereafter incurred, as long as the aggregate of such Debt incurred by the Borrower and its Subsidiaries does not exceed $5,000,000 during any Fiscal Year.