Limitations on Subsidiary Debt. No Borrower will permit any Subsidiary of the Company to contract, create, incur, assume or permit to exist any Debt, except:
Limitations on Subsidiary Debt. (a) The Company will not at any time permit any Consolidated Subsidiary to create, incur, issue, guarantee, assume or suffer to exist any Debt if, immediately after giving effect thereto, the aggregate outstanding amount of Debt (determined at that time) of all Consolidated Subsidiaries (other than Debt owed to the Company or one or more other Consolidated Subsidiaries) would exceed the sum of (i) 20% of Consolidated Net Worth (calculated as of the last day of the most recently ended Fiscal Quarter) plus (ii) the Debt Credit applicable to the Consolidated Subsidiaries.
Limitations on Subsidiary Debt. (a) For so long as any Securities are outstanding, Nabors Bermuda will not permit any of its Subsidiaries to incur, directly or indirectly, any Debt other than:
Limitations on Subsidiary Debt. The Company will not at any time permit any Subsidiary (including, in the case of any Qualified Receivables Transaction, any Person to whom any accounts or notes receivable and rights related thereto have been sold, conveyed or transferred) to, directly or indirectly, create, incur, assume, guarantee, have outstanding, or otherwise become or remain directly or indirectly liable with respect to, any Debt other than:
Limitations on Subsidiary Debt. 44 SECTION 5.04. Negative Pledge................................................................... 45 SECTION 5.05. Consolidations, Mergers and Sale of Assets........................................ 46 SECTION 5.06. Compliance with Laws.............................................................. 47 SECTION 5.07. Use of Proceeds................................................................... 47 SECTION 5.08. Insurance......................................................................... 47 SECTION 5.09. Inspection........................................................................ 47
Limitations on Subsidiary Debt. Any Subsidiary which ------------------------------ owns any of the Real Property Assets in the Unencumbered Asset Pool shall not at any time incur any Debt, and except as contemplated hereby, the Borrower shall not pledge its interest in such Subsidiary nor shall the Borrower or such Subsidiary enter into any negative pledge with respect thereto. Notwithstanding the foregoing, any such Subsidiary may (i) incur Debt from either the Borrower or Guarantor, provided that such intercompany Debt is, by its terms, subordinate in right of payment to repayment of the Obligations, and (ii) incur Debt and enter into negative pledges in connection with equipment leasing to the extent otherwise permitted hereunder provided that the annual aggregate rent payments thereunder shall not exceed $500,000 and the negative pledge applies only to the equipment leased.
Limitations on Subsidiary Debt. The Borrower will not ------------------------------ permit any Subsidiary to have or incur any Debt other than (i) Debt incurred or assumed for the purpose of financing all or any part of the cost of acquiring or developing an asset, provided that the amount of Debt so incurred or assumed -------- does not exceed the acquisition or development cost of such asset, (ii) Debt consisting, or in respect, of existing tax-exempt bonds or the refinancing thereof, (iii) Debt the sole obligee of which is the Borrower and (iv)
Limitations on Subsidiary Debt. The Company will not, at any time, permit Subsidiary Debt (including Indebtedness of a Subsidiary under any HGI Facility) to exceed an amount equal to 20% of Consolidated Total Net Worth as of the end of the then most recently ended fiscal quarter of the Company.
Limitations on Subsidiary Debt. No Subsidiary of the Borrower shall incur Debt other than (i) combined consolidated intercompany debt, which by its terms (or pursuant to separate agreement) shall be fully subordinated in right of payment to the Loans and other Obligations hereunder (the Borrower hereby acknowledging and agreeing that with respect to all such intercompany debt of which it is or at any time may be the beneficiary, the same is and shall be fully subordinated to the payment in full of the Obligations), (ii) existing Debt, as more particularly set forth on Schedule 5.18 hereto, and (iii) Debt which in the aggregate does not exceed 5% of Total Fair Market Value, provided, however, in no event may Unsecured Debt of such Subsidiaries exceed 1% in the aggregate of Total Fair Market Value.
Limitations on Subsidiary Debt. Section 10.3. Interest Expense Coverage Ratio Section 10.4. Limitation on Liens Section 10.5. Sale of Assets Section 10.6. Mergers, Consolidations and Sales of Assets Section 10.7. Transactions with Affiliates Section 10.8. Line of Business Section 10.9. Terrorism Sanctions Regulations Section 10.10. Airedale Entities
