Limitation on Debt Sample Clauses

Limitation on Debt. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, Incur any Debt unless the Consolidated EBITDA Coverage Ratio at the date of such Incurrence exceeds 2.0 to 1.0. (b) The preceding sentence shall not prohibit the Incurrence of any of the following Debt (collectively, "Permitted Debt"): (1) Debt Incurred by the Company and any Restricted Subsidiary pursuant to the Credit Agreement or any other revolving credit facility which, when taken together with all letters of credit and the principal amount of all other outstanding Debt Incurred under this clause (1), does not exceed the greater of $100 million and the sum of: (A) 65% of the gross book value of the inventory of the Company and its Restricted Subsidiaries; and (B) 85% of the gross book value of the accounts receivable of the Company and its Restricted Subsidiaries; (2) Debt of the Company owed to and held by a Wholly Owned Subsidiary; provided, however, that any subsequent issuance or transfer of any Capital Stock that results in such Wholly Owned Subsidiary ceasing to be a Wholly Owned Subsidiary or any transfer of such Debt (other than to a Wholly Owned Subsidiary) shall be deemed, in each case, to constitute the issuance of such Debt by the Company; (3) Debt of a Restricted Subsidiary incurred and outstanding on or prior to the date on which such Restricted Subsidiary: (A) became a Restricted Subsidiary; or (B) was acquired by the Company (other than Debt issued in connection with, or to provide all or any portion of the funds or credit support utilized to consummate, the transaction or series of related transactions pursuant to which such Restricted Subsidiary became a Restricted Subsidiary or was acquired by the Company); (4) the incurrence by the Company and the Subsidiary Guarantors of Debt represented by the Notes and the related Subsidiary Guarantees to be issued on the date of the this Indenture and the Exchange Notes and the related Subsidiary Guarantees to be issued pursuant to the Registration Rights Agreement; (5) Debt outstanding on the Issue Date (other than Debt described in clause (1), (2), (3) or (4); (6) Refinancing Debt in respect of Debt Incurred pursuant to paragraph (a), or pursuant to clause (4) or (5) or this clause (6); (7) Hedging Obligations; provided, however, that with respect to Interest Rate Agreements and Currency Agreements (if such Currency Agreements relate to Debt), only to the extent directly related to Debt permi...

Limitation on Debt. (a) Neither the Company nor any Subsidiary will create, incur, assume or suffer to exist any Debt, except: (i) Debt of the Company and the Subsidiary Guarantors under the Financing Documents; (ii) Debt of the Company or any of its Subsidiaries outstanding on the date of this Agreement as set forth in clause (i) of Section 5.01(b); (iii) Debt of the Company or any of its Subsidiaries to a wholly-owned Subsidiary of the Company, or of any Subsidiary of the Company to the Company; (iv) Debt of the Company or any of its Subsidiaries incurred or assumed for the purpose of financing all or any part of the cost of acquiring any fixed asset (including through Capital Leases) after the Closing Date, in an aggregate principal amount not to exceed $10,000,000; (v) Debt of the Company or any Subsidiary as an account party for any letter of credit issued by any financial institution if such letter of credit is issued solely as security for performance or payment by the Company or such Subsidiary under any contract which is not otherwise prohibited by this Agreement and which has been entered into in the ordinary course of business of the Company or such Subsidiary; (vi) Cash Management Services Obligations; (vii) Debt of the Company or any Subsidiary incurred on account of financed insurance premiums for insurance required under Section 6.03 and as otherwise maintained by the Company or any Subsidiary in the ordinary course of business; (viii) Renewals or extensions of any Debt described in clause (ii) or (iv) above; and (ix) Other Debt the terms and conditions of which shall have been approved by the Majority Holders and the Net Cash Proceeds of which are applied in accordance with Sections 2.04 and 2.07. (b) Notwithstanding the restrictions on Debt contained in Section 6.09(a), the Company or any of Subsidiary of the Company may guarantee (i) any Debt of the Company or any Subsidiary Guarantor permitted under Section 6.09(a) and (ii) any contractual obligations of the Company or any Subsidiary Guarantor incurred in the ordinary course of business, except to the extent such contractual obligations constitute Debt that would be prohibited by Section 6.09(a). (c) Neither the Company nor any Subsidiary of the Company will have any Guarantee Obligations for which the primary obligor is a Person other than the Company or a Consolidated Subsidiary.

Limitation on Debt. Permit the total principal amount of all Debt of the Borrower and its Subsidiaries, determined on a consolidated basis and without duplication of liability therefor, at any time to exceed 65% of Capitalization determined as of the last day of the most recently ended fiscal quarter of the Borrower; provided, however, that for purposes of this Section 5.02(b), (i) “Debt” and “Capitalization” shall not include (A) Hybrid Securities, (B) any Debt of any Subsidiary of the Borrower that is Non-Recourse Debt and (C) Eligible Securitization Bonds, and (ii) “Capitalization” shall exclude changes to other comprehensive income resulting from (x) pension and other post-retirement benefits liability adjustments and (y) ▇▇▇▇-to-market non-cash adjustments relating to accounting for derivatives.

Limitation on Debt. Create, incur, assume or suffer to exist any Debt, except: (a) Indebtedness of any Credit Party to Agent and the Lenders under this Agreement and/or the other Loan Documents; (b) any Debt existing on the Effective Date and set forth in Schedule 8.1 attached hereto and any renewals or refinancing of such Debt (provided that (i) the aggregate principal amount of such renewed or refinanced Debt shall not exceed the aggregate principal amount of the original Debt outstanding on the Effective Date (less any principal payments and the amount of any commitment reductions made thereon on or prior to such renewal or refinancing), (ii) the renewal or refinancing of such Debt shall be on substantially the same or better terms as in effect with respect to such Debt on the Effective Date, and shall otherwise be in compliance with this Agreement, and (iii) at the time of such renewal or refinancing no Default or Event of Default has occurred and is continuing or would result from the renewal or refinancing of such Debt; (c) any Debt of Borrowers or any Subsidiary incurred to finance the acquisition of fixed or capital assets, whether pursuant to a loan or a Capitalized Lease provided that both at the time of and immediately after giving effect to the incurrence thereof (i) no Default or Event of Default shall have occurred and be continuing, and (ii) the aggregate amount of all such Debt at any one time outstanding (including, without limitation, any Debt of the type described in this clause (c) which is set forth on Schedule 8.1 hereof) shall not exceed $5,000,000, and any renewals or refinancings of such Debt on terms substantially the same or better than those in effect at the time of the original incurrence of such Debt; (d) Debt under any Hedging Transactions, provided that such transaction is entered into for risk management purposes and not for speculative purposes; (e) Debt arising from judgments or decrees not deemed to be a Default or Event of Default under subsection (g) of Section 9.1; (f) Debt owing to a Person that is a Credit Party, but only to the extent permitted under Section 8.7 hereof; (g) the Comerica Debt and the Subordinated Debt; (h) Debt arising under the Surety Agreements, provided that the Borrowers shall promptly terminate the Liberty Mutual Indemnity Agreement and any other Bond Documents related thereto following the completion of the construction projects set forth on Schedule 8.1(i); (i) additional unsecured Debt not otherwise described a...

Limitation on Debt. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, Incur any Debt; provided that the Company and any Subsidiary Guarantor may Incur Debt if after giving pro forma effect to the Incurrence of such Debt and the receipt and application of the proceeds thereof the Consolidated Coverage Ratio of the Company would be not less than 2.00 to 1.00. (b) Notwithstanding Section 4.9(a), the following Debt may be Incurred (collectively, the “Permitted Debt”): (1) Debt of the Company or any Restricted Subsidiary under one or more Debt Facilities and the issuance or creation of letters of credit and bankers’ acceptances thereunder (with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face amount thereof) in an aggregate principal amount Incurred under this Section 4.9(b)(1) at any one time outstanding not to exceed the greater of (i) $175.0 million and (ii) the Borrowing Base, plus, in the event of any refunding, refinancing, renewal, replacement or extension of any such Debt, the aggregate amount of any discounts, commissions, premiums, fees and other costs and expenses related thereto; (2) Pari Passu Debt (other than the Notes (other than any Additional Notes)) of the Company or any Subsidiary Guarantor so long as at the time of Incurrence thereof the aggregate principal amount of Debt incurred and outstanding pursuant to this clause (2) does not exceed (I) an amount such that after giving pro forma effect to the incurrence of any such Debt and the application or intended application of proceeds thereof (but without giving effect to any simultaneous or substantially simultaneous incurrence in a single transaction, concurrent transaction or series of related transactions of any other Debt under any basket subject to a fixed Dollar limit (including by reference to a percentage of Consolidated Total Assets)), the Company has a Total Net Leverage Ratio of less than or equal to 1.70 to 1.00 as of the end of the most recently completed four consecutive fiscal quarters for which quarterly or annual financial statements are available, plus (II) without regard to the Total Net Leverage Ratio before or after the incurrence of such Debt, an amount equal to the greater of (i) $150.0 million and (ii) 8.0% of Consolidated Total Assets determined at the time of Incurrence, and in each case, Permitted Refinancing Debt in respect thereof (provided that in calculating the Debt incurred pursuant to this clause (2),...

Limitation on Debt. 37 6.3 Limitation on Liens............................................................................ 37 6.4 Limitations on Fundamental Changes............................................................. 37 6.5 Limitation on Sale of Assets................................................................... 38 6.6 Limitations on Acquisitions, Investments, Loans and Advances................................... 38 6.7

Limitation on Debt. The Borrower shall not have, incur, assume or otherwise become liable for, or permit any Subsidiary to have, incur, assume or otherwise become liable for, any Debt other than Permitted Debt.

Limitation on Debt. (a) The Guarantor shall not, and shall not permit the Issuer or any Restricted Group Member 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 Debt (including Acquired Debt); provided, however, that any Existing Notes Obligor may incur Debt if at the time of such incurrence, the Fixed Charge Coverage Ratio for Luxco 2's most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the incurrence of such Debt, taken as one period, would be greater than 2.25 to 1.00, determined on a pro forma basis after giving effect to the incurrence of such Debt and the application of the net proceeds therefrom. (b) The foregoing paragraph shall not, however, prohibit the incurrence of any of the following items of Debt (collectively “Permitted Debt”): (i) the incurrence by any Existing Notes Obligor under Credit Facilities of: (A) Debt represented by the Super Senior Secured Notes (other than any additional notes) and any related Guarantees and an unlimited principal amount of PIK interest (including any PIK notes issued in respect of PIK interest) in payment of accrued interest on the Super Senior Secured Notes; and (B) Debt under the Surety Bonds Facilities and obligations in respect of letters of credit in an aggregate principal amount at any one time outstanding not to exceed €50.0 million; (C) Debt represented by the Senior Secured Notes (other than any additional notes) and any related Guarantees and an unlimited principal amount of PIK interest (including any PIK notes issued in respect of PIK interest) in payment of accrued interest on the Senior Secured Notes; (ii) Debt represented by the Notes (other than any Additional Notes) and any related Guarantees and an unlimited principal amount of PIK Interest (including any PIK Notes issued in respect of PIK Interest) in payment of accrued interest on the Notes; (iii) the incurrence since the Existing Debt Issue Date by any Restricted Group Member of Debt, and any Permitted Refinancing Debt of any Restricted Group Member incurred to renew, refund, refinance, replace, defease or discharge any Debt incurred pursuant to this clause (iii), in an aggregate principal amount at any time outstanding not to exceed €150.0 million; provided that the aggregate amount of Debt that may be incurred pursuant to this clause

Limitation on Debt. (a) No Borrower Party shall incur any indebtedness (as such term is used in the applicable Constituent Documents) to the extent it would violate its respective Constituent Documents as in effect on the Closing Date (or as amended in accordance with Section 9.04) or the leverage requirements applicable to a “business development company” under Sections 18 and 61 of the Investment Company Act; and (b) except as permitted in Section 9.02, no Borrower Party may incur any Indebtedness secured by the Collateral. Notwithstanding anything to the contrary, this Credit Agreement and the other Loan Documents shall permit (i) accrued management, incentive and other fees, (ii) obligations under Swap Contracts not entered into for speculative purposes, (iii) commitments to purchase or make Portfolio Investments and any commitment or incurrence of any deferred purchase or acquisition price in connection with, Portfolio Investments (including by way of any equity commitment) and (iv) Guaranty Obligations incurred under or arising in connection with Portfolio Investments.