Incurrence Sample Clauses

Incurrence. The Local Government Unit hereby authorizes and directs the incurrence of nonelectoral debt in an amount not to exceed the aggregate principal amount of the Bonds specified in Article 1 for the purposes of the Project; such debt shall be evidenced by the Bonds, to be issued, sold and delivered according to the provisions of the Purchase Proposal, when executed, this Debt Ordinance and the Debt Act, as general obligations of the Local Government Unit.
Incurrence. Subject to the additional limitation in Section 9.16(a)(ii)(B) below, the Borrower will not, and will not permit any of the Subsidiary Guarantors to, enter into any Swap Agreement in respect of commodities other than such Swap Agreements entered into with Approved Counterparties and not for speculative purposes and with a duration no longer than five years from the date the applicable Swap Agreement is entered into; provided that, the Hedged Volume in any month, determined at the time such Swap Agreement is entered into and after giving effect thereto (the “Measurement Date”), shall not exceed for each month during the period during which such Swap Agreement is in effect, the greater of (A) 100% of the anticipated projected production from proved, developed, producing Oil and Gas Properties set forth in the most recently delivered Reserve Report (subject to the following sentence), and (B) volumes set forth in the grid below for the applicable period as determined (subject to the following sentence) by reference to the Reserve Report most recently delivered to the Administrative Agent: Volumes Covered by Swap Agreements Applicable Period Covered By Swap Agreements 85% of the anticipated projected production from proved Oil and Gas Properties First 24 months after the Measurement Date 75% of the anticipated projected production from proved Oil and Gas Properties Months 25 — 60 after the Measurement Date For purposes of entering into or maintaining Swap Agreement trades or transactions under this Section 9.16(a)(i), forecasts of reasonably anticipated production from the Borrower’s and its Subsidiaries’ proved Oil and Gas Properties as set forth on the most recent Reserve Report delivered pursuant to the terms of this Agreement shall be revised to account for any increase or decrease therein anticipated because of information obtained by the Borrower or any of its Subsidiaries subsequent to the publication of such Reserve Report including the Borrower’s or any of its Subsidiaries’ internal forecasts of production decline rates for existing wells and additions to or deletions from anticipated future production from new wells and completed acquisitions coming on stream or failing to come on stream.
Incurrence. The Borrower will not, and will not permit any of the Subsidiary Guarantors to, enter into any Swap Agreement in respect of commodities other than such Swap Agreements entered into with Approved Counterparties and not for speculative purposes and with a duration no longer than five years from the date the applicable Swap Agreement is entered into; provided that, the Hedged Volume in any month, determined at the time such Swap Agreement is entered into and after giving effect thereto, shall not exceed for each month during the period during which such Swap Agreement is in effect, the lesser of (A) 100% of the Actual PDP Volumes, and (B) the volumes set forth in the grid below for the applicable period as determined by reference to the Reserve Report most recently delivered to the Administrative Agent; provided further that, the volume limitation in the foregoing proviso shall not prohibit the Borrower or any Subsidiary Guarantor from entering into Swap Agreements which, when taken together with all Swap Agreements then in effect, cover up to 100% of the Projected PDP Volumes: Volumes Covered by Swap Agreements Applicable Period Covered By Swap Agreements 70% of the anticipated projected production from proved Oil and Gas Properties First 12 months after the “as of” date of the most recently delivered Reserve Report 60% of the anticipated projected production from proved Oil and Gas Properties Months 13 — 24 after the “as of” date of the most recently delivered Reserve Report 50% of the anticipated projected production from proved Oil and Gas Properties Months 25 — 36 after the “as of” date of the most recently delivered Reserve Report 40% of the anticipated projected production from proved Oil and Gas Properties Months 37 — 60 after the “as of” date of the most recently delivered Reserve Report
Incurrence. Ultimate Parent will not, and will not permit any Subsidiary to, directly or indirectly, create, incur, assume, guarantee, or otherwise become directly or indirectly liable with respect to, any Indebtedness, unless on the date Ultimate Parent or such Subsidiary becomes liable with respect to any such Indebtedness and immediately after giving effect thereto and the concurrent retirement of any other Indebtedness:
Incurrence. The Company may, after March 30, 1996, incur additional Indebtedness so long as each of the fol- lowing conditions shall be satisfied: Credit Agreement

Related to Incurrence

  • Incurrence of Indebtedness Directly or indirectly, incur or guarantee, assume or suffer to exist any indebtedness, other than the indebtedness evidenced by the Convertible Debentures and other Permitted Indebtedness. “

  • Incurrence of Debt Promptly (but in any event within one (1) Business Day) upon receipt by any Credit Party or any Restricted Subsidiary of any Credit Party of the Net Cash Proceeds of the incurrence of Indebtedness (other than Net Cash Proceeds from the incurrence of Indebtedness permitted hereunder), the Borrower shall deliver, or cause to be delivered, to Agent an amount equal to 100% of such Net Cash Proceeds for application to the Loans in accordance with Section 1.8(f).

  • Incurrence of Indebtedness and Issuance of Disqualified Stock (a) The Company will not, and will not cause or permit any Restricted Subsidiary to, create, issue, incur, assume, guarantee or otherwise in any manner become directly or indirectly liable for the payment of or otherwise incur, contingently or otherwise (collectively, “incur”), any Indebtedness (including any Acquired Debt and the issuance of Disqualified Stock or the issuance of Preferred Stock by a Restricted Subsidiary), unless such Indebtedness is incurred by the Company or any Guarantor and, in each case, after giving pro forma effect to such incurrence and the receipt and application of the proceeds therefrom, the Company’s Consolidated Fixed Charge Coverage Ratio for the most recent four full fiscal quarters for which financial statements are available immediately preceding the incurrence of such Indebtedness taken as one period would be equal to or greater than 2.25 to 1.0.

  • Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except: