Common use of Limitation on Incurrence of Additional Indebtedness and Disqualified Capital Stock Clause in Contracts

Limitation on Incurrence of Additional Indebtedness and Disqualified Capital Stock. The Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, issue, assume, guaranty, incur, become directly or indirectly liable with respect to (including as a result of an Acquisition) or otherwise become responsible for, contingently or otherwise (individually and collectively, to "incur" or, as appropriate an "incurrence"), any Indebtedness(including Acquired Indebtedness) other than Permitted Indebtedness. Notwithstanding the foregoing, if (i) no Default or Event of Default shall have occurred and be continuing at the time of, or would occur after giving effect on a pro forma basis to, such incurrence of Indebtedness or Disqualified Capital Stock and (ii) on the date of such incurrence (the "Incurrence Date"), after giving effect on a pro forma basis to such incurrence of such Indebtedness or Disqualified Capital Stock and the use of proceeds thereof, the Leverage Ratio shall not exceed 7.5 to 1 (the "Debt Incurrence Ratio"), then the Company and its Subsidiaries may incur such Indebtedness or Disqualified Capital Stock. In addition, the foregoing limitations will not apply to:

Appears in 1 contract

Samples: Indenture (Liberty Group Publishing Inc)

AutoNDA by SimpleDocs

Limitation on Incurrence of Additional Indebtedness and Disqualified Capital Stock. The Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, issue, assume, guaranty, incur, become directly or indirectly liable with respect to (including as a result of an Acquisition) or otherwise become responsible for, contingently or otherwise (individually and collectively, to "incur" or, as appropriate an "incurrence"), any Indebtedness(including Acquired Indebtedness) other than Permitted Indebtedness. Notwithstanding the foregoing, if (i) no Default or Event of Default shall have occurred and be continuing at the time of, or would occur after giving effect on a pro forma basis to, such incurrence of Indebtedness or Disqualified Capital Stock and (ii) on the date of such incurrence (the "Incurrence Date"), after giving effect on a pro forma basis to such incurrence of such Indebtedness or Disqualified Capital Stock and the use of proceeds thereof, the Leverage Ratio shall not exceed 7.5 to 1 (the 1(the "Debt Incurrence Ratio"), then the Company and its Subsidiaries may incur such Indebtedness or Disqualified Capital Stock. In addition, the foregoing limitations will not apply to:

Appears in 1 contract

Samples: Indenture (Liberty Group Publishing Inc)

Limitation on Incurrence of Additional Indebtedness and Disqualified Capital Stock. (a) The Company will shall not, and will shall not permit any of its Subsidiaries to, directly or indirectly, issue, assume, guaranty, incur, become directly or indirectly liable with respect to (including as a result of an Acquisition) ), or otherwise become responsible for, contingently or otherwise (individually and collectively, to "incur" or, as appropriate appropriate, an "incurrence"), any Indebtedness(including Funded Recourse Debt (including Acquired Indebtedness) other than Permitted Indebtedness. Notwithstanding or any Disqualified Capital Stock; provided that, notwithstanding the foregoing, (i) the Company may, and may permit any of its Subsidiaries to, incur Funded Recourse Debt (including Acquired Recourse Debt) or Disqualified Capital Stock if (iA) no Default or Event of Default shall have occurred and be continuing at the time of, or would occur after giving effect on a pro forma basis to, such incurrence of Indebtedness Funded Recourse Debt or Disqualified Capital Stock and the application of the proceeds therefrom and (iiB) on the date of such incurrence (the "Incurrence Date"), the Consolidated Interest Coverage Ratio of the Company for the Reference Period immediately preceding the Incurrence Date, after giving effect on a pro forma basis to such incurrence of such Indebtedness Funded Recourse Debt or Disqualified Capital Stock and and, to the extent set forth in the definition of Consolidated Interest Coverage Ratio, the use of proceeds thereoftherefrom, the Leverage Ratio shall not exceed 7.5 would be at least 1.55 to 1 1.0 and (the "Debt Incurrence Ratio"), then ii) the Company may, and may permit any of its Subsidiaries may to, incur such Indebtedness or Disqualified Capital Stock. In additionany Permitted Recourse Debt (including, the foregoing limitations will not apply to:without limitation, Secured Portfolio Debt) .

Appears in 1 contract

Samples: HPSC Inc

Limitation on Incurrence of Additional Indebtedness and Disqualified Capital Stock. (a) The Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, issue, assume, guaranty, incur, become directly or indirectly liable with respect to (including as a result of an Acquisition) ), or otherwise become responsible for, contingently or otherwise (individually and collectively, to "incur" or, as appropriate appropriate, an "incurrence"), any Indebtedness(including Indebtedness or any Disqualified Capital Stock (including Acquired Indebtedness) ), other than Permitted Indebtedness. Notwithstanding the foregoing, if (i) no Default or Event of Default shall have occurred and be continuing at the time of, or would occur after giving effect on a pro forma PRO FORMA basis to, such incurrence of Indebtedness indebtedness or Disqualified Capital Stock and (ii) on the date of such incurrence (the "Incurrence Date"), the Consolidated Coverage Ratio of the Company for the Reference period immediately preceding the Incurrence Date, after giving effect on a pro forma PRO FORMA basis to such incurrence of such Indebtedness or Disqualified Capital Stock and and, to the extent set forth in the definition of Consolidated Coverage Ratio, the use of proceeds thereof, the Leverage Ratio shall not exceed 7.5 would be at least 2.4 to 1 1.0 (the "Debt Incurrence Ratio"), then the Company and its Subsidiaries may incur such Indebtedness or Disqualified Capital Stock. In addition, the foregoing limitations will not apply to:.

Appears in 1 contract

Samples: Louisiana Casino Cruises Inc

AutoNDA by SimpleDocs

Limitation on Incurrence of Additional Indebtedness and Disqualified Capital Stock. The (a) Except as set forth in this Section 4.7, the Company will shall not, and will shall not permit any of its Subsidiaries to, directly or indirectly, issue, assume, guarantyguarantee, incur, become directly or indirectly liable with respect to (including as a result of an Acquisition) to, or otherwise become responsible for, contingently or otherwise (individually and collectively, to "incur" or, as appropriate appropriate, an "incurrence"), any Indebtedness(including Indebtedness (including Disqualified Capital Stock and Acquired Indebtedness) other than Permitted Indebtedness). Notwithstanding the foregoing, foregoing if (i) no Default or Event of Default shall have occurred and be continuing at the time of, or would occur after giving effect on a pro forma basis to, such incurrence of Indebtedness or Disqualified Capital Stock and (ii) on the date of such incurrence (the "Incurrence Date"), the Consolidated Coverage Ratio of the Company for the Reference Period immediately preceding the Incurrence Date, after giving effect on a pro forma basis to such incurrence of such Indebtedness or Disqualified Capital Stock and and, to the extent set forth in the definition of Consolidated Coverage Ratio, the use of proceeds thereof, the Leverage Ratio shall not exceed 7.5 would be at least 2.00 to 1 1.00 (the "Debt Incurrence Ratio"), then the Company and its Subsidiaries may incur such Indebtedness or (including Disqualified Capital Stock. In addition, the foregoing limitations will not apply to:).

Appears in 1 contract

Samples: Bio Rad Laboratories Inc

Time is Money Join Law Insider Premium to draft better contracts faster.