Indebtedness; Preferred Stock Sample Clauses
The 'Indebtedness; Preferred Stock' clause defines and regulates a company's ability to incur debt or issue preferred stock. Typically, it sets limits on the amount or types of debt and preferred equity the company can take on, often requiring lender or investor consent for new borrowings or issuances. For example, it may prohibit the company from issuing additional preferred shares or taking on loans above a certain threshold without approval. This clause serves to protect existing stakeholders by preventing excessive leverage or dilution, thereby managing financial risk and maintaining the agreed capital structure.
Indebtedness; Preferred Stock. Create, incur, assume or suffer to exist any Indebtedness or Preferred Stock, except:
(a) Indebtedness under the Second Lien Credit Agreement (as defined in clause (i) of the definition of such term) in an aggregate principal amount not to exceed $170,000,000 and Refinancing Indebtedness in respect thereof; provided that (i) any such Refinancing Indebtedness otherwise complies with the Intercreditor Agreement and (ii) if such Refinancing Indebtedness is secured, the lenders thereof (or an agent on their behalf) become party to the Intercreditor Agreement on terms substantially identical to those applicable to the then-existing Second Lien Secured Parties;
(b) Indebtedness under the Loan Documents (including any guarantees hereof and the Incremental Facility);
(c) Contingent Obligations permitted by Section 6.03;
(d) Indebtedness permitted by Section 6.06(b);
(e) other Indebtedness of Borrower and the Subsidiary Guarantors in an aggregate principal amount not to exceed $15,000,000 at any time outstanding;
(f) Indebtedness of Borrower and its Subsidiaries in respect of Financing Leases and Purchase Money Indebtedness of Borrower and its Subsidiaries to finance the purchase of fixed or capital assets in an amount which shall not exceed the purchase price of the assets purchased, and Refinancings thereof, in an aggregate principal amount not to exceed $15,000,000 at any one time outstanding;
(g) Indebtedness in connection with surety (or similar) bonds, letters of credit, bank guarantees and performance bonds and other similar obligations obtained in the ordinary course of business in connection with workers’ compensation, health, disability or other employee benefits, environmental obligations or property, casualty or liability insurance of Borrower and its Subsidiaries and in connection with other surety and performance bonds in the ordinary course of business;
(h) Indebtedness under Hedging Agreements permitted by Section 6.08;
(i) Indebtedness consisting of promissory notes issued to current or former directors, consultants, managers, officers and employees (including, “employees” as defined in Section 6.11(c)) or former employees of Holdco, Borrower or any Subsidiary or their spouses or estates to purchase or redeem Equity Interests of Holdco which promissory notes are issued in accordance with Section 6.11(c);
(j) Indebtedness arising from agreements providing for indemnification, adjustment of purchase price or similar obligations in connection with Acq...
Indebtedness; Preferred Stock. (a) No Loan Party nor any of its Restricted Subsidiaries shall create, incur, issue, assume, suffer to exist, guarantee, or otherwise become or remain, directly or indirectly, liable, contingently or otherwise, with respect to any Indebtedness (including Acquisition Debt), except for Permitted Indebtedness. Borrower will not issue any Prohibited Preferred Stock and will not permit any of its Restricted Subsidiaries to issue any shares of preferred stock; provided that Borrower’s Restricted Subsidiaries may issue preferred stock to Borrower or to any of its Restricted Subsidiaries provided (i) any subsequent issuance or transfer of Stock that results in any such preferred stock being held by a Person other than Borrower or one of its Restricted Subsidiaries, or (ii) any sale or other transfer of any such preferred stock to a Person that is not Borrower or one of its Restricted Subsidiaries, will be deemed, in each case, to constitute an issuance of preferred stock by one of Borrower’s Restricted Subsidiaries that is not permitted pursuant to this Section 6.1.
(b) No Loan Party shall incur any Indebtedness (including Permitted Indebtedness) that is contractually subordinated in right of payment to any other Indebtedness of a Loan Party unless such Indebtedness is also contractually subordinated in right of payment to the Obligations and the Indebtedness represented by the Senior Notes (including any guarantees thereof) on substantially identical terms; provided, however, that no Indebtedness will be deemed to be contractually subordinated in right of payment to any other Indebtedness solely by virtue of being unsecured or by virtue of being secured on a junior priority basis. Nothing contained in this Section 6.1(b) shall permit any Loan Party or any of its Restricted Subsidiaries to incur Indebtedness that is not Permitted Indebtedness.
Indebtedness; Preferred Stock. 55 Section 6.02 Liens................................................................................. 57 Section 6.03 Fundamental Changes; Corporate Structure.............................................. 58 Section 6.04 Investments, Loans, Advances, Guarantees and Acquisitions; Asset Sales................ 59 Section 6.05 Hedging Agreements.................................................................... 60 Section 6.06
Indebtedness; Preferred Stock. The Borrower will not, nor will it permit any Subsidiary Loan Party to, create, incur, assume or permit to exist any Indebtedness or issue any preferred stock, except:
(a) Indebtedness created under the Loan Documents and other Eligible Secured Debt;
(b) subject to Section 6.04, Indebtedness of the Borrower to any Subsidiary and of any Subsidiary to the Borrower or any other Subsidiary;
(c) subject to Section 6.04, Guarantees by the Borrower of Indebtedness of any Subsidiary;
(d) Indebtedness of the Borrower or any Subsidiary incurred to finance the acquisition, construction or improvement of any fixed or capital assets by the Borrower or such Subsidiary (other than assets that are an integral part of any of the telecommunications or data network systems of the Borrower and its Subsidiaries or other assets that become accessions to such assets or the removal or loss of which would adversely affect the value of any such assets), including Capital Lease Obligations and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof; provided that (A) such Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement and (B) any such Indebtedness incurred in connection with any particular acquisition, construction or improvement shall not exceed 90% of the cost of such 84 78 acquisition, construction or improvement; provided further that the aggregate principal amount of such Indebtedness (and Indebtedness incurred to refinance such Indebtedness permitted by clause (f) below) shall not exceed $10,000,000 at any time outstanding;
(e) Indebtedness outstanding on the Effective Date and set forth on Schedule 6.01;
(f) Indebtedness of the Borrower incurred to refinance any Indebtedness referred to in clause (d) or (e) above and Indebtedness of any Subsidiary incurred to refinance any Indebtedness of such Subsidiary referred to in clause (d) or (e) above; provided that (i) the principal amount of any such Indebtedness does not exceed the principal amount of, plus accrued interest and any prepayment premiums applicable to, the Indebtedness refinanced thereby, (ii) any such Indebtedness has a scheduled maturity date that is on or after the scheduled maturity date of the Indebtedness refinanced thereby, (iii) any such Indebtedness has a weighted average life to maturity that is equal to or longer than the remaining ...
Indebtedness; Preferred Stock. The Parent will not, and will not permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Indebtedness, except:
(a) Indebtedness created pursuant to the Loan Documents, including Credit Agreement Refinancing Indebtedness;
(b) Indebtedness of the Parent and its Subsidiaries existing on the date hereof and set forth on Schedule 7.1 and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (immediately prior to giving effect to such extension, renewal or replacement) or shorten the maturity or the weighted average life thereof;
(c) Indebtedness of the Borrower owing to any Subsidiary and of any Subsidiary owing to the Borrower or any other Subsidiary; provided that (x) any such Indebtedness that is owed by a Subsidiary that is not a Loan Party shall be subject to Section 7.4 and (y) any such Indebtedness of any Loan Party owed to a Subsidiary that is not a Loan Party shall be subject to subordination terms that are reasonably satisfactory to the Administrative Agent;
Indebtedness; Preferred Stock. 88 SECTION 6.02. Liens...................................................... 89 SECTION 6.03.
Indebtedness; Preferred Stock. (a) The Issuer will not create, incur, assume or permit to exist any Indebtedness, except:
(i) the Obligations;
(ii) Indebtedness permitted under the HNS Pledges; and
(iii) Indebtedness existing on the date hereof and set forth in Schedule 4.7(a) and extensions and renewals of any such Indebtedness that do not increase the outstanding principal amount thereof or result in an earlier maturity date or decreased weighted average life thereof.
(b) The Issuer will not voluntarily prepay, redeem or acquire any Indebtedness, except the prepayment of the Obligations in accordance with the terms of this Agreement.
(c) The Issuer will not issue any Disqualified Stock.
(d) The Issuer will not enter into any hedging or swap arrangements with respect to any Indebtedness.
Indebtedness; Preferred Stock. The Parent will not, and will not permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Indebtedness, except:
Indebtedness; Preferred Stock. The Parent will not, and will not permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Indebtedness, except:
(a) Indebtedness created pursuant to the Loan Documents, including Credit Agreement Refinancing Indebtedness; (b) (b)Indebtedness of the Parent and its Subsidiaries existing on the Restatement Date and set forth on Schedule 7.1 and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (immediately prior to giving effect to such extension, renewal or replacement) or shorten the maturity or the weighted average life thereof;
Indebtedness; Preferred Stock. (a) The Issuer has no Indebtedness outstanding other than the Note. The Note constitutes a direct, senior and secured obligation with full recourse to the Issuer.
(b) The Issuer is not subject to any applicable law or regulation (other than the Investment Company Act) or other restriction (whether contractual, specified in its Constituent Documents or otherwise) which limits its ability to incur indebtedness. The Issuer has not entered into any agreement with any Governmental Authority limiting its ability to incur indebtedness.
(c) The Issuer does not have outstanding any Preferred Stock.