Limitations on Incurrence of Additional Indebtedness Sample Clauses
Limitations on Incurrence of Additional Indebtedness. The Company will not, and will not cause or permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Indebtedness; provided that the Company and its Subsidiaries shall be permitted to incur, assume, or suffer to exist, without duplication:
(a) Indebtedness under the Loan Documents;
(b) Existing Indebtedness listed on Schedule 5.20(a) (Existing Indebtedness);
(c) Permitted Refinancing Indebtedness (provided that, if applicable, the Company makes any mandatory prepayment required by Section 2.05(d) (Mandatory Prepayments));
(d) Venezuelan Non-Recourse Indebtedness;
(e) Venezuelan Recourse Indebtedness in respect of Indebtedness owed to Persons other than the Company or its Affiliates in an amount not to exceed US$40,000,000 (or the US Dollar Equivalent thereof) outstanding at any one time to the extent such Venezuelan Recourse Indebtedness is Working Capital Indebtedness, the proceeds of which are used solely for grain purchases (“Permitted Venezuelan Recourse Indebtedness”);
(f) the Agreement Value of Hedging Agreements executed in accordance with Section 7.18 (Limitations on Hedging);
(g) As long as no Default or Event of Default has occurred and is continuing or would occur after giving effect to such Indebtedness under this clause (g), additional Indebtedness not otherwise permitted by this Section 7.16 in an aggregate amount for the Company and its Subsidiaries at any time outstanding not to exceed an amount equal to (x) US$250,000,000 (or the US Dollar Equivalent thereof) less (y) the aggregate principal amount of all Reporto Contracts outstanding at such time (such Indebtedness, “Permitted New Indebtedness”), to the extent such Permitted New Indebtedness:
(i) is either unsecured or secured in accordance with Section 7.01 (Negative Pledge); and
(ii) consists of either: (x) Working Capital Indebtedness (excluding Venezuelan Recourse Indebtedness) (such Working Capital Indebtedness, “Permitted New Working Capital Indebtedness”) or (y) no more than US$50,000,000 (or the US Dollar Equivalent thereof) of Capital Lease Obligations and/or Sale Lease-Back Transactions related to the Company’s Core Business (collectively, “Permitted New Capital Obligations”);
(h) any of the following Guaranty Obligations in respect of Indebtedness owed to Persons other than the Company or its Affiliates (provided that solely for the purposes of this Section 7.16(h), Grupo Financiero Banorte S.A.B. de. C.V. and its Subsidiaries shal...
Limitations on Incurrence of Additional Indebtedness. (a) The Company agrees that it shall not incur any Additional Indebtedness without meeting the financial tests set forth in (b) below; provided that, except as otherwise provided in this Agreement, at the time of incurrence thereof no Event of Default (or event which with notice or lapse of time, or both; would constitute an Event of Default) under this Agreement shall have occurred and shall be continuing unless such event will be cured upon incurrence of such Indebtedness and application of the proceeds thereof and the placing in service of any facilities financed thereby; and provided, further, that this requirement concerning no Event of Default shall not apply to Indebtedness incurred with the consent of the Bond Insurer.
(b) Prior to incurrence of any Indebtedness, the Company shall deliver to the Trustee an Officer's Certificate certifying the Debt Service Coverage Ratio and Capitalization Ratio for the Historic Test Period, taking into account the aggregate of (i) the current aggregate Outstanding principal amount of all existing Indebtedness to be Outstanding after the issuance of the proposed Additional Indebtedness and (ii) the proposed Additional Indebtedness, is not less than 2.0 times and 65%, respectively. For the purpose of computing such Debt Service Coverage Ratio, the amount of Annual Debt Service on the proposed Additional Indebtedness shall be the amount of scheduled principal and interest to be paid thereon from the date of incurrence thereof to the end of the then Fiscal Year. For the purpose of computing Debt Service Coverage Ratio on any Additional Indebtedness to be incurred as Variable Rate Indebtedness, the amount of Annual Debt Service on such Variable Rate Indebtedness shall be deemed to be the average interest rate on such Variable Rate Indebtedness had it been outstanding and calculated during the 12 months prior to its incurrence.
Limitations on Incurrence of Additional Indebtedness. Subject to any restrictions as may be set forth in the Continuing Covenant Agreement, nothing herein shall prevent the Borrower from incurring Indebtedness, which can be Additional Parity Indebtedness or Indebtedness which is junior or subordinate to this Loan Agreement. The Borrower may not incur Indebtedness which is senior to this Loan Agreement. The Borrower may enter into interest rate swaps, caps, collars, options, floors, forward or other hedging agreements, arrangements or security, however denominated, with respect to outstanding indebtedness as long as such agreements or arrangements qualify as a Financial Products Agreement. In addition, the Borrower may maintain a line of credit, unrestricted in total amount or term, for costs related to day-to-day operations.
Limitations on Incurrence of Additional Indebtedness. The Company will not, and will not cause or permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Indebtedness; provided that the Company and its Subsidiaries shall be permitted to incur, assume, or suffer to exist, without duplication:
(a) Indebtedness under the Loan Documents;
(b) Existing Indebtedness listed on Schedule 5.21(a) (Existing Indebtedness);
Limitations on Incurrence of Additional Indebtedness. The Borrower shall not incur any additional Indebtedness, other than Permitted Subordinate Indebtedness, that is secured in any manner by the Pledged Revenues without the prior written consent of the Bondholder Representative.
Limitations on Incurrence of Additional Indebtedness. The Foundation shall not after the date hereof, except as provided in this Section, incur any additional Indebtedness that does not exist as of the date hereof, secured in whole or in part by the Facility or the Pledged Revenues. 40