Restriction on Borrowings. In the case that the substitution of the proposed Substituted Mortgaged Property is not to occur simultaneously with the release of the proposed Collateral Release Property, from and after the release of the proposed Collateral Release Property until the addition of the proposed Substituted Mortgaged Property into the Collateral Pool in accordance with this Section 7.04, the Borrower shall not be permitted to have the aggregate unpaid principal balance of Loans Outstanding to be in excess of an amount equal to the then-existing Commitment minus the Allocable Credit Facility Amount attributable to the Collateral Release Property that was released, unless the Borrower shall have delivered to the Lender additional collateral reasonably acceptable to the Lender in an amount at least equal to such Allocable Credit Facility Amount. In the event that the aggregate unpaid principal balance of Advances Outstanding exceeds such amount (and additional collateral in an amount at least equal to the applicable Allocable Credit Facility Amount has not been delivered by the Borrower to the Lender), as a condition precedent to the substitution of a Substituted Mortgaged Property into the Collateral Pool, the Borrower shall pay such excess. Notwithstanding the foregoing, in no event shall the value of the additional collateral exceed 15% of the principal balance of the Loans Outstanding. Any payment received by the Lender under this Section 7.04(d) shall be applied against Loans Outstanding in the manner prescribed for Release Prices pursuant to Section 7.02. The additional collateral shall be released to the Borrower upon the addition of the applicable Substituted Mortgaged Property to the Collateral Pool in accordance with this Section 7.05.
Restriction on Borrowings. If the addition of the Substitute Mortgaged Property and the release of the Release Property does not occur simultaneously then, until the addition of the Substitute Mortgaged Property, the aggregate unpaid principal balance of Advances Outstanding shall not exceed the amount of the then-existing Commitment minus the Allocable Facility Amount of the Release Property, unless Borrower has delivered additional Collateral reasonably acceptable to Lender in an amount at least equal to such Allocable Facility Amount. If the aggregate unpaid principal balance of Advances Outstanding exceeds such amount (and satisfactory additional Collateral has not been delivered by Borrower to Lender), Borrower shall pay such excess as a condition precedent to the addition of a Substitute Mortgaged Property. Notwithstanding the foregoing, in no event shall the value of the additional Collateral exceed 15% of the principal balance of the Advances Outstanding. Any payment received by Lender under this Section shall be applied against Advances Outstanding in the manner prescribed for Release Prices pursuant to Section 3.04(d). The additional Collateral shall be released to Borrower upon the addition of the applicable Substitute Mortgaged Property to the Collateral Pool.
Restriction on Borrowings. The Company shall ensure that none of its Subsidiaries incurs any Borrowings other than:
Restriction on Borrowings. If the Addition of the Substituted Mortgaged Property to the Collateral Pool and the release of the Collateral Release Property from the Collateral Pool do not occur simultaneously (i.e., within thirty (30) days), then, until the Addition of the Substituted Mortgaged Property to the Collateral Pool, no Future Advance will be permitted except and unless after the release of the Collateral Release Property all conditions of Section 7.03 have been satisfied.
Restriction on Borrowings. If the Addition of the Substitute Mortgaged Property to the Collateral Pool and the release of the Release Mortgaged Property from the Collateral Pool do not occur simultaneously (i.e., within thirty (30) days pursuant to Section 3.05(d) above) then, until the Addition of the Substitute Mortgaged Property to the Collateral Pool, the aggregate principal balance of Advances Outstanding shall not exceed the amount of the (i) Advances Outstanding immediately prior to the release of such Release Mortgaged Property minus (ii) the Allocable Facility Amount of the Release Mortgaged Property. If the aggregate unpaid principal balance of Advances Outstanding exceeds the amount resulting from subtracting (i) minus (ii) in the preceding sentence, Borrower shall pay such excess amount as a condition precedent to any Future Advances made under this Agreement and the Addition of a Substitute Mortgaged Property. Any payment received by Lender under this Section 3.05 shall be applied against Advances Outstanding in the manner prescribed for Release Prices pursuant to Section 3.04(c).
Restriction on Borrowings. (a) No member of the Group will incur or have outstanding any Borrowings other than:
Restriction on Borrowings. Capital Leases and Contract Purchases. Section 6.1 is amended and restated as follows: Borrowers shall not and shall not permit any Subsidiary to borrow money, enter into capital leases or enter into contracts to purchase any item on deferred payments in any fiscal year if the total of such borrowings, leases and contracts exceeds 3.5% of Borrowers' Tangible Net Worth in existence at the end of Borrowers' prior fiscal year. This restriction shall not apply to the issuance by Northwest Pipe Company of up to $75,000,000 in private placement notes or to the Loans, or the Letters of Credit described in Articles 9 and 10. (The limitation on the issuance of private placement notes shall apply to the aggregate of all such notes issued since October 20, 1997.)
Restriction on Borrowings. In the case that the substitution of the proposed Substituted Mortgaged Property is not to occur simultaneously with the release of the proposed Collateral Release Property, from and after the release of the proposed Collateral Release Property until the addition of the proposed Substituted Mortgaged Property into the Collateral Pool in accordance with this Section 7.04, the Borrower shall not be permitted to have the aggregate unpaid principal balance of Loans Outstanding to be in excess of an amount equal to the then-existing Commitment minus the Allocable Credit Facility Amount attributable to the Collateral Release Property that was released, unless the Borrower shall have delivered to the
Restriction on Borrowings. The Company will procure that the aggregate Borrowings of the Target and its subsidiaries taken together on a consolidated basis and giving effect to the proviso to the definition of Borrowings plus (to the extent not otherwise included in Borrowings of the Target and/or its subsidiaries) the amount of any actual or contingent liability of the Target and/or its subsidiaries (1) for Borrowings at that time of any Person in which the Target or any of its subsidiaries has an ownership interest, or (2) to provide funds by loan, subscription for share capital or otherwise to any person in which the Target or any of its subsidiaries has an ownership interest, will not exceed the sum of the following:
Restriction on Borrowings. None of the Borrower, Holdings and the Company will incur or have outstanding any Borrowings other than:
