Common use of Leverage Restrictions Clause in Contracts

Leverage Restrictions. (a) The Trust or any Investment Trust may incur or assume Indebtedness from any Person at any time and for any purpose, subject to the provisions of paragraphs (b) and (c) of this Section 10.1. Notwithstanding the foregoing, in the event that (i) any Indebtedness incurred or assumed by the Trust or any Investment Trust in accordance with this Section 10.1 represents 5% (five percent) or more (but less 20% (twenty percent)) of the value of the Trust Estate, that has been entered into as part of simultaneous or successive transactions within a 12 (twelve) month period commencing on the date of the first transaction and that may be considered a single transaction, such Indebtedness shall be approved by the Technical Committee, and (ii) any Indebtedness incurred or assumed by the Trust or any Investment Trusts pursuant to Section 10.1 that represents 20% (twenty percent) or more of the value of the Trust Estate based on the relevant closing numbers of the immediately preceding quarter, that has been entered into as part of simultaneous or successive transactions within a 12 (twelve) month period commencing on the date of the first transaction and that may be considered a single transaction, such Indebtedness shall be approved by the Ordinary Holders Meeting (in which case, the approval of the Technical Committee shall not be required).