Limitation on Debt Sample Clauses

Limitation on Debt. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, Incur any Debt; provided, however, that the Company and any Subsidiary Guarantor may Incur Debt and the Company and any Restricted Subsidiary may Incur Acquired Debt if, after giving effect to the Incurrence of such Debt and the application of the proceeds therefrom, the Leverage Ratio of the Company and the Restricted Subsidiaries (on a consolidated basis) would not exceed 5.25 to 1.0. (b) Notwithstanding the immediately preceding paragraph, any or all of the following Debt may be Incurred: (1) Debt of the Company or any Subsidiary Guarantor under a Credit Facility; provided that the aggregate principal amount of all such Debt under such Credit Facility shall not exceed $175.0 million; (2) Debt of the Company or any Subsidiary Guarantor under a Credit Facility; provided that the aggregate principal amount of all such Debt under such Credit Facility shall not exceed the greater of (1) after giving effect to the Incurrence of such Debt and the application of the proceeds therefrom, 3.25 times the LTM Pro Forma EBITDA and (2) $1.5 billion less the amount of any permanent mandatory repayments made under such Credit Facility (and, in the case of any revolving subfacility thereunder, permanent commitment reductions) with Net Available Cash from Asset Sales; (3) the Notes and any Subsidiary Guarantees (excluding any Additional Notes); (4) Debt of the Company or any Restricted Subsidiary in respect of Capital Lease Obligations and Purchase Money Debt, provided that: (a) the aggregate principal amount of such Debt secured thereby does not exceed the Fair Market Value (on the date of the Incurrence thereof) of the Property acquired, constructed or leased, and (b) the aggregate principal amount of all Debt Incurred and then outstanding pursuant to this clause (4) (together with all Permitted Refinancing Debt Incurred and then outstanding in respect of Debt previously Incurred pursuant to this clause (4)) does not exceed $60.0 million; (5) Debt of the Company owing to and held by any Subsidiary Guarantor or Debt of a Subsidiary Guarantor owing to and held by the Company or any Subsidiary Guarantor; provided, however, that (x) any subsequent issue or transfer of Capital Stock or other event that results in any such Subsidiary Guarantor ceasing to be a Subsidiary Guarantor or any subsequent transfer of any such Debt (except to the Company or a Subsidiary Guarantor) shall be deemed, in each ca...

Limitation on Debt. (a) The Issuer shall not, and shall not permit any Restricted Subsidiary to, create, issue, incur, assume, guarantee or in any manner become directly or indirectly liable with respect to or otherwise become responsible for, contingently or otherwise, the payment of any Debt (including any Acquired Debt); provided that (i) the Issuer or any Guarantor may incur Debt (including Acquired Debt), if on the date of the incurrence of such Debt and the application of the proceeds thereof, on a pro forma basis, the Leverage Ratio of the Issuer and its Restricted Subsidiaries would be less than 6.0 to 1.0 and (ii) Restricted Subsidiaries that are not Guarantors may incur Debt (including Acquired Debt), if on the date of the incurrence of such Debt and the application of the proceeds thereof, on a pro forma basis, the Leverage Ratio of the Restricted Subsidiaries that are not Guarantors would be less than 4.5 to 1.0. (b) This covenant shall not, however, prohibit the following (collectively, “Permitted Debt”): (i) the Incurrence by the Issuer or any Restricted Subsidiary in reliance on this clause (i) of Debt under Credit Facilities in an aggregate principal amount at any one time outstanding not to exceed $1,400.0 million; (ii) the Incurrence by the Issuer of Debt pursuant to the Notes (excluding any Additional Notes); (iii) any Debt of the Issuer or any Restricted Subsidiary (other than Debt described in another clause of this paragraph) outstanding on the date of this Indenture; (iv) the Incurrence by the Issuer or any Restricted Subsidiary of intercompany Debt between the Issuer and any Restricted Subsidiary or between or among Restricted Subsidiaries; provided that (A) any disposition, pledge or transfer of any such Debt to a Person (other than a disposition, pledge or transfer to the Issuer or a Restricted Subsidiary) and (B) any transaction pursuant to which any Restricted Subsidiary that has Debt owing to the Issuer or another Wholly Owned Restricted Subsidiary ceases to be a Restricted Subsidiary, will, in each case, be deemed to be an Incurrence of such Debt not permitted by this clause (iv); (v) guarantees of the Issuer’s Debt or Debt of any Restricted Subsidiary by the Issuer or any Restricted Subsidiary if such guaranteed Debt is permitted to be incurred in accordance with the provisions of this Section 4.06; (vi) the Incurrence by the Issuer or any Restricted Subsidiary of Debt represented by Capitalized Lease Obligations, mortgage financings, purchase m...

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. 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 Issuer may not, and may not permit any Issuer Restricted Subsidiary to, directly or indirectly, Incur any Debt; provided, however, that (i) the Issuer or (ii) any Issuer Restricted Subsidiary that is a Guarantor and a Loan Proceeds Note Guarantor may incur any Debt if, after giving pro forma effect to such Incurrence and the receipt and application of the net proceeds thereof, no Default or Event of Default would occur as a consequence of such Incurrence or be continuing following such Incurrence and the Issuer Debt Ratio would be less than 5.75 to 1.0. (b) Notwithstanding the foregoing limitation, the Issuer or any Issuer Restricted Subsidiary may Incur any and all of the following (each of which shall be given independent effect): (i) Debt of the Issuer or any Issuer Restricted Subsidiary under the Securities issued on the Issue Date, any Note Guarantee in respect of the Securities issued on the Issue Date, the Loan Proceeds Note amended and restated in connection with the Securities issued on the Issue Date or any Loan Proceeds Note Guarantee in respect of the Loan Proceeds Note; (ii) Debt of the Issuer or any Issuer Restricted Subsidiary under Credit Facilities in an aggregate principal amount outstanding or available (together with the amount of (x) outstanding Securities issued on the Issue Date and (y) all refinancing Debt outstanding or available pursuant to clause (vi) below in respect of the Securities issued on the Issue Date and Debt previously Incurred pursuant to this clause (ii) (other than any Additional Refinancing Amount)) at any one time not to exceed the greater of (x) $5.011 billion and (y) 4.0 times Pro Forma Consolidated Cash Flow Available for Fixed Charges of the Issuer and the Issuer Restricted Subsidiaries for the four full fiscal quarters immediately preceding the Incurrence of such Debt for which the consolidated financial statements required to be delivered under Section 905 are available; (iii) Debt of the Issuer or any Issuer Restricted Subsidiary outstanding on the Measurement Date; (iv) Debt owed by (A) the Issuer to any Issuer Restricted Subsidiary, (B) any Issuer Restricted Subsidiary to the Issuer or any other Issuer Restricted Subsidiary, provided that in each case of clause (A) and (B), (x) upon the transfer, conveyance or other disposition by such Issuer Restricted Subsidiary or the Issuer of any Debt so permitted to a Person other than the Issuer or another Issuer Restricted Subsidiary or (y) if for any reas...

Limitation on Debt. (a) Each Credit Party will not, and will not cause or permit any other member of the Restricted Group to, create, issue, incur, assume, guarantee or in any manner become directly or indirectly liable with respect to or otherwise become responsible for, contingently or otherwise, the payment of (individually and collectively, to “Incur” or, as appropriate, an “Incurrence”), any Debt (including any Acquired Debt) and Permitted Refinancings thereof, provided that (i) any such Debt shall not be subject to any guarantee by any Person other than a Credit Party (other than as provided in Section 5.15(a)(iii)(1) with respect to local lines of credit or financing Incurred by Subsidiaries of Parent) and (ii) Borrower and any Guarantor will be permitted to Incur Debt (including Acquired Debt) if at the time of such Incurrence and after giving effect to the Incurrence of such Debt and the application of the proceeds thereof (and excluding the proceeds of any such incurrence from Unrestricted Cash in clause (b) of the definition of Consolidated Total Debt in calculating the Total Net Leverage Ratio), on a Pro Forma Basis, the Total Net Leverage Ratio for the 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 4.50:1.00. (b) Section 6.1(a) will not, however, prohibit the following (collectively, “Permitted Debt”): (i) the Credit Agreement Obligations of the Credit Parties pursuant to the Credit Documents; (ii) Refinancing Indebtedness; (iii) any Debt of any member of the Restricted Group outstanding on the Closing Date and listed on Schedule 6 and Permitted Refinancing in respect thereof; (iv) the Incurrence by any member of the Restricted Group of intercompany Debt between any other member of the Restricted Group, provided that: (A) if Borrower or a Guarantor is the obligor on any such Debt and the lender is not Borrower or a Guarantor, it is unsecured; (B) such Debt is evidenced by an Intercompany Note subject to the Agreed Security Principles; and (C) (x) any disposition, pledge or transfer of any such Debt to any Person (other than a disposition, pledge or transfer to a member of the Restricted Group) and (y) any transaction pursuant to which any Restricted Subsidiary that has Debt owing from Borrower or another Restricted Subsidiary ceases to be a Restricted Subsidiary, will, in each case, be deemed to be an Incurrence of such Debt not permitted...

Limitation on Debt. (a) No Fund shall incur any Indebtedness (including the Obligations) in excess of the limitations on Indebtedness contained in its Governing Agreement as in effect on the Closing Date (or as amended in accordance with Section 9.04) (without the approval of the applicable advisory committee described therein); (b) no Fund Party shall otherwise incur any Indebtedness to the extent it would violate its respective Constituent Documents; and (c) except as permitted in Section 9.02, no Fund 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 and (iv) Guaranty Obligations incurred under or arising in connection with Portfolio Investments.