Limitation on Priority Indebtedness. The Company will not at any time permit Priority Indebtedness to exceed 15% of Consolidated Total Assets.
Limitation on Priority Indebtedness. Neither the Company nor the Trust will permit the ratio of (a) the sum of (i) Secured Indebtedness of the Trust, the Company and their Subsidiaries plus (ii) Unsecured Indebtedness of Subsidiaries which are not Subsidiary Guarantors to (b) Consolidated Total Adjusted Asset Value, to exceed 40%.
Limitation on Priority Indebtedness. The Company will not permit Priority Indebtedness to exceed 20% of Total Capitalization determined as of the end of each fiscal quarter of the Company.
Limitation on Priority Indebtedness. The Obligors will not permit Priority Indebtedness at any time to exceed 15% of the difference between (a) Consolidated Total Assets and (b) an amount bearing the same percentage to the assets of the CLO Subsidiaries as the aggregate Non-Recourse CLO Subsidiary Indebtedness bears to the aggregate Indebtedness of the CLO Subsidiaries (in each case, calculated as of the end of the most recently ended fiscal quarter for which financial statements have been delivered pursuant to Section 7.1).
Limitation on Priority Indebtedness. Section 10.7(b) of the Note Purchase Agreement is hereby amended and restated in its entirety as follows: The Obligors will not permit Priority Indebtedness at any time to exceed 15% of the difference between (a) Consolidated Total Assets and (b) the assets of the CLO Subsidiaries (in each case, calculated as of the end of the most recently ended fiscal quarter for which financial statements have been delivered pursuant to Section 7.1).
Limitation on Priority Indebtedness. (a) The Company will not, and will not permit any Restricted Subsidiary to, create, assume, guarantee or otherwise incur or in any manner become liable in respect of any Priority Indebtedness if, after giving effect thereto and to the application of the proceeds thereof, the aggregate amount of all Priority Indebtedness then outstanding would exceed 30% of Members' Equity.
Limitation on Priority Indebtedness. 28 SECTION 10.7. MINIMUM INTEREST COVERAGE RATIO ..................................................... 28 SECTION 10.8. MAXIMUM DEBT TO CAPITAL RATIO ......................................................... 28 SECTION 10.9. CONSOLIDATED TANGIBLE NET WORTH .................................................... 28 SECTION 10.10. TRANSACTIONS WITH AFFILIATES ............................................................ 28 SECTION 10.11.
Limitation on Priority Indebtedness. < 15% RGC Resources Consolidated Priority or Secured Indebtedness (4) Total Assets (5) Consolidated Ratio = (4) / (5): Hurdle < 15% (Show calculation) PASS/FAIL
Limitation on Priority Indebtedness. < 15% Borrower (Consolidated with Subsidiaries) Priority or Secured Indebtedness (4) Total Assets (5) Consolidated Ratio = (4) / (5): Hurdle < 15% (Show calculation) PASS/FAIL Guarantor (Consolidated with Subsidiaries) Priority or Secured Indebtedness (4) Total Assets (5) Consolidated Ratio = (4) / (5): Hurdle < 15% (Show calculation) PASS/FAIL
Limitation on Priority Indebtedness. < 15% RGC Resources Consolidated Priority or Secured Indebtedness (4) Total Assets (5) Consolidated Ratio = (4) / (5): Hurdle < 15% (Show calculation) PASS/FAIL EXHIBIT B FORM OF NOTE PROMISSORY NOTE Lender: Atlantic Union Bank 000 Xxxxxxxx Xxxx, Xxxxx 000 Xxxxxxx, XX 00000 Attention: Commercial Banking Roanoke Valley Principal Amount: $8,000,000.00 Date of Note: November 1, 2021 PROMISE TO PAY. RGC MIDSTREAM, LLC (“Borrower”) promises to pay, without offset, to ATLANTIC UNION BANK (“Lender”), or order, in lawful money of the United States of America, the principal sum of Eight Million and No/100 Dollars ($8,000,000.00), together with interest on the unpaid principal balance from the date of this Note until paid in full, at the rate or rates stated in this Note, calculated as described in the “INTEREST CALCULATION METHOD” paragraph.
