Debt of a Restricted. Subsidiary outstanding at the time such Restricted Subsidiary becomes a Restricted Subsidiary, provided that (A) such Debt shall not have been incurred in contemplation of such Restricted Subsidiary becoming a Restricted Subsidiary and (B) immediately after such Restricted Subsidiary becomes a Restricted Subsidiary no Default or Event of Default shall exist, and provided further that such Debt may not be extended, renewed or refunded except as otherwise permitted by this Agreement, including clause (iv) below; and
Debt of a Restricted. Subsidiary at the time owed to the Borrower or a Restricted Subsidiary may be sold to a third Person in a transaction not described in subdivision (a) of this Section 8.06 for a consideration at least equal to the principal amount of such Debt plus interest accrued and payable thereon (to the extent such interest is not payable to the Borrower or a Restricted Subsidiary following such sale); provided, however, that it shall be a condition to the consummation by the -------- ------- Borrower or any Restricted Subsidiary of any transaction described in the foregoing subdivisions (a), (b) and (c) of this Section 8.06 that (i) in the case of any sale or issuance of stock of a Restricted Subsidiary described in said subdivision (a) or (b), the assets of such Restricted Subsidiary represented by the equity interest to be so sold or issued are such that the sale of such assets would then be permitted by Section 8.07 (in which case such transaction shall be considered and deemed a disposition of assets for purposes of Section 8.07), and (ii) in the case of any such transaction described in said subdivision (a), (b) or (c), immediately after giving effect to such transaction (x) no Default or Event of Default shall have occurred and be continuing and (y) a Restricted Subsidiary shall be permitted to incur at least $1.00 of additional Debt pursuant to Section 8.02(b).
Debt of a Restricted. Subsidiary (1) outstanding on the date of the Closing and disclosed in Schedule 5.15, provided that such Debt may not be extended, renewed or refunded except as otherwise permitted by this Agreement and (2) outstanding pursuant to the Guaranty Agreement;
