Common use of ADDITIONAL LIMITATIONS ON DEBT Clause in Contracts

ADDITIONAL LIMITATIONS ON DEBT. (a) The Company and the Borrower will not, and will not permit any Restricted Subsidiary to, create, assume or incur or in any manner become liable in respect of any Debt, except: (1) Funded Debt of the Company, Borrower and Restricted Subsidiaries permitted by Section 5.8; (2) Current Debt of the Company, Borrower or any Restricted Subsidiary, provided that during the twelve-month period immediately preceding the date of any determination hereunder, there shall have been a period of 30 consecutive days during which Current Debt of the Company and its Restricted Subsidiaries shall be an amount no greater than the amount of additional Funded Debt that could have been issued on each such day of said 30-day period within the limitations of Section 5.9(a)(1) above; (3) in addition to the limitations with respect to Debt pursuant to the foregoing paragraphs (1) and (2), in the case of Priority Debt, at the time of issuance of any such Priority Debt and after giving effect thereto and the application of the proceeds thereof, (x) the aggregate principal amount of Priority Debt shall not exceed an amount equal to 20% of Consolidated Net Worth and (y) all such Priority Debt shall have been incurred within the other applicable limitations of this Section 5.9(a); and (4) Debt of a Restricted Subsidiary owing to the Company or to a Wholly-owned Restricted Subsidiary. (b) Any corporation which becomes a Restricted Subsidiary after the date hereof shall for all purposes of this Section 5.9 be deemed to have created, assumed or incurred at the time it becomes a Restricted Subsidiary all Debt of such corporation existing immediately after it becomes a Restricted Subsidiary.

ADDITIONAL LIMITATIONS ON DEBT. (a) The Company and the Borrower Parent will not, and will not permit any Restricted Subsidiary to, create, assume or incur or in any manner become liable in respect of any Debt, except: (1i) Funded Debt of the Company, Borrower and Restricted Subsidiaries Group permitted by Section 5.8; (2ii) Current Debt of the Company, Borrower or any Restricted Subsidiary, provided that during the twelve-month period immediately preceding the date of any determination hereunder, there shall have been a period of 30 consecutive days during which Current Debt of the Company and its Restricted Subsidiaries shall be an amount no greater than the amount of additional Funded Debt that could have been issued on each such day of said 30-day period within the limitations of Section 5.9(a)(1) above; (3) in addition to the limitations with respect to Debt pursuant to the foregoing paragraphs (1) and (2), in the case of (x) unsecured Debt of any Restricted Subsidiary ("SUBSIDIARY PRIORITY DEBT") and (y) Debt of the Restricted Group secured by Liens not permitted by clauses (a) through (l) of Section 5.10 ("SECURED PRIORITY DEBT" and, collectively with the Subsidiary Priority Debt, "PRIORITY DEBT"), provided, that, at the time of issuance of any such Priority Debt and after giving effect thereto and to the application of the proceeds thereof, (xA) the aggregate principal amount of Priority Debt shall not exceed an amount equal to 20% of Consolidated Net Worth and Worth, if a Collateral Suspension Period is not then in effect, or (yB) all such Priority Debt shall have been incurred within 12.5% of Consolidated Net Worth, if a Collateral Suspension Period is then in effect; provided, further, that for the other applicable limitations purposes of this Agreement and the Financing Documents, Debt under or in respect of the Bank Term Facilities, the Notes and the 1999 Notes, and Debt permitted by Section 5.9(a5.9(a)(iii), shall not constitute Priority Debt; and (4iii) Debt of the Parent or a Restricted Subsidiary owing owed to the Company Parent or to a Wholly-owned Owned Restricted Subsidiary.; (b) Any corporation which becomes a If any member of the Restricted Subsidiary after Group incurs additional Debt other than Debt secured by Liens described in Section 5.10(h), such Debt shall be subject to terms and conditions no more restrictive than those contained herein and in the Credit Agreement (as in effect on the date hereof shall for all purposes hereof), excluding terms and conditions relating to collateral (only in the case of this Section 5.9 be deemed to have created, assumed or incurred at the time it becomes a Restricted Subsidiary all Debt of such corporation existing immediately after it becomes a Restricted SubsidiaryPriority Debt) and pricing.

ADDITIONAL LIMITATIONS ON DEBT. (a) The Company and the Borrower Parent will not, and will not permit any Restricted Subsidiary to, create, assume or incur or in any manner become liable in respect of any Debt, except: (1i) Funded Debt of the Company, Borrower and Restricted Subsidiaries Group permitted by Section 5.8; (2ii) Current Debt of the Company, Borrower or any Restricted Subsidiary, provided that during the twelve-month period immediately preceding the date of any determination hereunder, there shall have been a period of 30 consecutive days during which Current Debt of the Company and its Restricted Subsidiaries shall be an amount no greater than the amount of additional Funded Debt that could have been issued on each such day of said 30-day period within the limitations of Section 5.9(a)(1) above; (3) in addition to the limitations with respect to Debt pursuant to the foregoing paragraphs (1) and (2), in the case of (x) unsecured Debt of any Restricted Subsidiary ("SUBSIDIARY PRIORITY DEBT") and (y) Debt of the Restricted Group secured by Liens not permitted by clauses (a) through (l) of Section 5.10 ("SECURED PRIORITY DEBT" and, collectively with the Subsidiary Priority Debt, "PRIORITY DEBT"), provided, that, at the time of issuance of any such Priority Debt and after giving effect thereto and to the application of the proceeds thereof, (xA) the aggregate principal amount of Priority Debt shall not exceed an amount equal to 20% of Consolidated Net Worth and Worth, if a Collateral Suspension Period is not then in effect, or (yB) all such Priority Debt shall have been incurred within 12.5% of Consolidated Net Worth, if a Collateral Suspension Period is then in effect; provided, further, that for the other applicable limitations purposes of this Agreement and the Financing Documents, Debt under or in respect of the Bank Term Facilities, the Notes and the 1998 Notes, and Debt permitted by Section 5.9(a5.9(a)(iii), shall not constitute Priority Debt; and (4iii) Debt of the Parent or a Restricted Subsidiary owing owed to the Company Parent or to a Wholly-owned Owned Restricted Subsidiary.; (b) Any corporation which becomes a If any member of the Restricted Subsidiary after Group incurs additional Debt other than Debt secured by Liens described in Section 5.10(h), such Debt shall be subject to terms and conditions no more restrictive than those contained herein and in the Credit Agreement (as in effect on the date hereof shall for all purposes hereof), excluding terms and conditions relating to collateral (only in the case of this Section 5.9 be deemed to have created, assumed or incurred at the time it becomes a Restricted Subsidiary all Debt of such corporation existing immediately after it becomes a Restricted SubsidiaryPriority Debt) and pricing.