Restriction on Subsidiary Indebtedness Sample Clauses

Restriction on Subsidiary Indebtedness. The Borrower shall procure that the financial debt of its Subsidiaries shall at no time represent more than 30% of Total Debt. For the avoidance of doubt, for these purposes the “financial debt” of Subsidiaries shall be calculated in the same manner as “financial debt” of the Borrower, as described in the definition of Total Debt.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Restriction on Subsidiary Indebtedness. No member of the Group (excluding the Guarantor and the Borrower) will incur or have outstanding any Financial Indebtedness other than:
Sample 1Sample 2
Restriction on Subsidiary Indebtedness. The Company will not permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Indebtedness, unless, at the time of incurrence of such Indebtedness, the aggregate amount of Indebtedness of Subsidiaries, together with (without duplication) the aggregate amount of Indebtedness secured by Liens permitted by clause (k) of the definition of “Permitted Liens” in Schedule B, shall not exceed 15% of Total Adjusted Consolidated Capitalization. The foregoing first paragraph of this Section 10.3 shall not apply to (a) Indebtedness owed by a Subsidiary of the Company to the Company or to another Subsidiary of the Company, (b) Indebtedness in existence on the date hereof and set forth on Schedule 5.15 hereto, (c) Indebtedness of any Person at the time it becomes a Subsidiary of the Company, (d) Indebtedness secured by Permitted Liens (or which, if secured by Liens, would be Permitted Liens) under clauses (a) through (g) or (j) of the definition of “Permitted Liens” in Schedule B, and (e) any extension, renewal or refunding (or successive extension, renewal or refunding) of any such Indebtedness of any Subsidiary without any increase in principal amount of such Indebtedness and subject in each case to Section 10.1. East Tennessee Natural Gas Company Note Purchase Agreement
Sample 1Sample 2
Restriction on Subsidiary Indebtedness. No Wholly-Owned Subsidiary will have or incur, and the Borrowers shall ensure that no Wholly-Owned Subsidiary has or incurs, any Indebtedness other than:
Sample 1Sample 2
Restriction on Subsidiary Indebtedness. ABB shall ensure that the aggregate amount of Total Gross Debt (other than:
Sample 1
Restriction on Subsidiary Indebtedness. Consolidated Net Worth, Consolidated Net Financial Expense, EBIT, EBITDA, Total Debt and Total Net Debt shall be calculated and interpreted in accordance with Applicable Accounting Principles and shall be expressed in euro.
Sample 1
Restriction on Subsidiary Indebtedness. The aggregate amount of Total Gross Debt (other than:
Sample 1
AutoNDA by SimpleDocs
Restriction on Subsidiary Indebtedness. 28.2 The Company shall procure that its aggregate financial debt together with that of the Company Subsidiaries shall at no time represent more than 30 per cent of Total Debt. For the avoidance of doubt, for these purposes the financial debt of the Company and the Company Subsidiaries shall be calculated in the same manner as financial debt of ALSTOM, as described in the definition of Total Debt. Most favoured nation clause
Sample 1

Related to Restriction on Subsidiary Indebtedness

  • Limitation on Subsidiary Indebtedness The Company shall not permit any of the Subsidiaries of the Company to create, incur, assume or suffer to exist any Indebtedness, except:

  • Subsidiary Indebtedness The Borrower will not permit any Subsidiary to create, incur, assume or permit to exist any Indebtedness, except:

  • Limitation on Guarantees of Indebtedness by Restricted Subsidiaries The Issuer shall not permit any of its Wholly-Owned Subsidiaries that are Restricted Subsidiaries (and non-Wholly-Owned Subsidiaries if such non-Wholly-Owned Subsidiaries guarantee other capital markets debt securities of the Issuer or any Guarantor), other than a Guarantor, a Foreign Subsidiary or a Securitization Subsidiary, to guarantee the payment of any Indebtedness of the Issuer or any other Guarantor unless:

  • Limitation on Subsidiary Debt (a) The Company will not permit any of its Subsidiaries to create, assume, incur, Guarantee or otherwise become liable for or suffer to exist any Indebtedness (any Indebtedness of a Subsidiary of the Company, “Subsidiary Debt”), without Guaranteeing the payment of the principal of, premium, if any, and interest on the Notes on an unsecured unsubordinated basis.

  • Limitation on Senior Subordinated Indebtedness The Company will not Incur any Indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness and senior in right of payment to the Securities. No Guarantor will Incur any Indebtedness that is subordinate or junior in right of payment to any Senior Indebtedness of such Guarantor and senior in right of payment to such Guarantor’s Subsidiary Guarantee.

  • Restrictions on Indebtedness The Borrower will not, and will not permit any of its Subsidiaries to, create, incur, assume, guarantee or be or remain liable, contingently or otherwise, with respect to any Indebtedness other than:

  • Restriction on Prepayment of Indebtedness The Borrower and the Guarantors will not, and will not permit their respective Subsidiaries to, (a) subject to §12.5, prepay, redeem, defease, purchase or otherwise retire the principal amount or pay any termination, breakage or similar payments under Derivative Contracts, in whole or in part, of any Indebtedness other than the Obligations and the Hedge Obligations after the occurrence and during the continuance of any Event of Default; provided, that the foregoing shall not prohibit (x) the prepayment of Indebtedness which is financed solely from the proceeds of a new loan which would otherwise be permitted by the terms of §8.1; and (y) the prepayment, redemption, defeasance or other retirement of the principal of Indebtedness secured by Real Estate which is satisfied solely from the proceeds of a sale of the Real Estate securing such Indebtedness; and (b) modify any document evidencing any Indebtedness (other than the Obligations) to accelerate the maturity date of such Indebtedness after the occurrence and during the continuance of an Event of Default.

  • Subordination of Subrogation Subordination of Intercompany Indebtedness (A) Subordination of Subrogation. Until the Guaranteed Obligations have been fully and finally performed and indefeasibly paid in full in cash, the Guarantors (i) shall have no right of subrogation with respect to such Guaranteed Obligations and (ii) waive any right to enforce any remedy which the Holders of Guaranteed Obligations, the Issuing Bank or the Administrative Agent now have or may hereafter have against the Borrower, any endorser or any guarantor of all or any part of the Guaranteed Obligations or any other Person, and the Guarantors waive any benefit of, and any right to participate in, any security or collateral given to the Holders of Guaranteed Obligations, the Issuing Bank and the Administrative Agent to secure the payment or performance of all or any part of the Guaranteed Obligations or any other liability of the Borrower to the Holders of Guaranteed Obligations or the Issuing Bank. Should any Guarantor have the right, notwithstanding the foregoing, to exercise its subrogation rights, each Guarantor hereby expressly and irrevocably (A) subordinates any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution, indemnification or set off that such Guarantor may have to the indefeasible payment in full in cash of the Guaranteed Obligations and (B) waives any and all defenses available to a surety, guarantor or accommodation co-obligor until the Guaranteed Obligations are indefeasibly paid in full in cash. Each Guarantor acknowledges and agrees that this subordination is intended to benefit the Administrative Agent and the other Holders of Guaranteed Obligations and shall not limit or otherwise affect such Guarantor’s liability hereunder or the enforceability of this Guaranty, and that the Administrative Agent, the other Holders of Guaranteed Obligations and their respective successors and assigns are intended third party beneficiaries of the waivers and agreements set forth in this Section 7(A).

  • Limitation on Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except:

  • Statutory Indebtedness Restrictions Neither the Company nor any of its Subsidiaries is subject to regulation under the Federal Power Act, the Investment Company Act of 1940, or any other foreign, federal or state statute or regulation which limits its ability to incur indebtedness or its ability to consummate the transactions contemplated hereby.

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