Common use of Incurrence of Indebtedness and Issuance of Disqualified Stock Clause in Contracts

Incurrence of Indebtedness and Issuance of Disqualified Stock. (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt), and the Company shall not and shall not permit any of its Restricted Subsidiaries to issue any Disqualified Stock; provided, however, that the Company and any of its Restricted Subsidiaries may incur Indebtedness (including Acquired Debt) or issue Disqualified Stock, if the Company’s Consolidated Leverage Ratio at the time of incurrence of such Indebtedness or the issuance of such Disqualified Stock, as the case may be, after giving pro forma effect to such incurrence or issuance as of such date and to the use of proceeds therefrom as if the same had occurred at the end of the most recently ended four full fiscal quarter period of the Company for which internal financial statements are available, would have been no greater than 3.25 to 1.

Appears in 3 contracts

Samples: Collateral Agreement (Primus Telecommunications Group Inc), Collateral Agreement (Primus Telecommunications Group Inc), Collateral Trust Agreement (Primus Telecommunications Group Inc)

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Incurrence of Indebtedness and Issuance of Disqualified Stock. (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt), and the Company shall not and shall not permit any of its Restricted Subsidiaries to issue any Disqualified Stock; provided, however, that the Company Issuers and any of its Restricted Subsidiaries the Guarantors may incur Indebtedness (including Acquired Debt) or issue Disqualified Stock, if the Company’s Consolidated Leverage Ratio at the time of incurrence of such Indebtedness or the issuance of such Disqualified Stock, as the case may be, after giving pro forma effect to such incurrence or issuance as of such date and to the use of proceeds therefrom as if the same had occurred at the end of the most recently ended four full fiscal quarter period of the Company for which internal financial statements are available, would have been no greater than 3.25 7.00 to 11.00.

Appears in 2 contracts

Samples: Global Security (Radio One, Inc.), Indenture (Radio One, Inc.)

Incurrence of Indebtedness and Issuance of Disqualified Stock. (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, "incur" or an "incurrence") any Indebtedness (including Acquired Debt), other than Permitted Indebtedness and that the Company shall will not issue any Disqualified Stock and shall will not permit any of its Restricted Subsidiaries to issue any shares of Disqualified Stock; provided, however, that the Company and any of its Restricted Subsidiaries or a Guarantor may incur Indebtedness (including Acquired Debt) or Indebtedness, and the Company may issue Disqualified Stock, if the Consolidated Interest Coverage Ratio for the Company’s Consolidated Leverage Ratio at the time of incurrence of such Indebtedness or the issuance of such Disqualified Stock, as the case may be, after giving pro forma effect to such incurrence or issuance as of such date and to the use of proceeds therefrom as if the same had occurred at the end of the 's most recently ended four full fiscal quarter period of the Company quarters for which internal financial statements are available, available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock is issued would have been no greater than 3.25 at least 2.0 to 1, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness or Disqualified Stock had been issued or incurred at the beginning of such four- quarter period.

Appears in 1 contract

Samples: Frontier Oil Corp /New/

Incurrence of Indebtedness and Issuance of Disqualified Stock. (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt), and the Company shall not and shall not permit any of its Restricted Subsidiaries to issue any Disqualified Stock; provided, however, that the Company Company, the Issuers and any of its Restricted Subsidiaries the Subsidiary Guarantors may incur Indebtedness (including Acquired Debt) or issue Disqualified Stock, if the Company’s Consolidated Leverage Ratio at the time of incurrence of such Indebtedness or the issuance of such Disqualified Stock, as the case may be, after giving pro forma effect to such incurrence or issuance as of such date and to the use of proceeds therefrom as if the same had occurred at the end of the most recently ended four full fiscal quarter period of the Company for which internal financial statements are available, would have been no greater than 3.25 3.0 to 1.

Appears in 1 contract

Samples: Canadian Collateral Trust Agreement (Primus Telecommunications Group Inc)

Incurrence of Indebtedness and Issuance of Disqualified Stock. (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt), and the Company shall not and shall not permit any of its Restricted Subsidiaries to issue any Disqualified Stock; provided, however, that the each Company and any of its Restricted Subsidiaries may incur Indebtedness (including Acquired Debt) or issue Disqualified Stock, if the Fixed Charge Coverage Ratio for the Company’s Consolidated Leverage Ratio at most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the time of incurrence of date on which such additional Indebtedness is incurred or the issuance of such Disqualified StockStock is issued would have been at least 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or Disqualified Stock had been issued, as the case may be, after giving pro forma effect to such incurrence or issuance as at the beginning of such date and to the use of proceeds therefrom as if the same had occurred at the end of the most recently ended four full fiscal four-quarter period of the Company for which internal financial statements are available, would have been no greater than 3.25 to 1period.

Appears in 1 contract

Samples: Indenture (Niska Gas Storage Partners LLC)

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Incurrence of Indebtedness and Issuance of Disqualified Stock. (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee guaranty or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, "incur" and correlatively, an "incurrence" of) any Indebtedness (including Acquired Debt), ) and the Company shall not and shall not permit any of its Restricted Subsidiaries to issue any Disqualified Stock; provided, however, that the Company and any of its Restricted Subsidiaries may incur Indebtedness (including Acquired Debt) or issue shares of Disqualified Stock, Stock if the Company’s Consolidated Leverage Fixed Charge Coverage Ratio for the Company for the most recent four full fiscal quarters for which internal financial statements are available at the time of such incurrence would have been at least 2.00 to 1.0 determined on a pro forma basis (including a pro forma application of such the net proceeds therefrom), as if the additional Indebtedness had been incurred or the issuance of such Disqualified StockStock had been issued, as the case may be, after giving pro forma effect to such incurrence or issuance as and the application of such date and to the use of proceeds therefrom as if the same had occurred at the end beginning of the most recently ended four full fiscal such four-quarter period of the Company for which internal financial statements are available, would have been no greater than 3.25 to 1.period. The foregoing provisions shall not apply to:

Appears in 1 contract

Samples: JCS Realty Corp

Incurrence of Indebtedness and Issuance of Disqualified Stock. (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, "incur") any Indebtedness (including Acquired Debt), ) and the Company shall not issue any Disqualified Stock and shall not permit any of its Restricted Subsidiaries to issue any Disqualified Stockshares of preferred stock; provided, however, that the Company and any of its Restricted Subsidiaries may incur Indebtedness (including Acquired Debt) or issue shares of Disqualified Stock, if Stock if: (i) the Fixed Charge Coverage Ratio for the Company’s Consolidated Leverage Ratio at the time of incurrence of such Indebtedness or the issuance of such Disqualified Stock, as the case may be, after giving pro forma effect to such incurrence or issuance as of such date and to the use of proceeds therefrom as if the same had occurred at the end of the 's most recently ended four full fiscal quarter period of the Company quarters for which internal financial statements are available, available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock is issued would have been no greater than 3.25 at least 2.5 to 1., determined on a pro forma basis (including a pro forma application of the net proceeds therefrom) as set forth in the definition of Fixed Charge Coverage Ratio; and

Appears in 1 contract

Samples: Forcenergy Inc

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