Consolidated Net Debt. The Initial Guarantor will not permit the outstanding principal amount of Consolidated Net Debt, as of the last day of any fiscal quarter, beginning with the last day of the fiscal quarter in which the Closing Date occurs, to exceed 65% of Total Capitalization as of such date.
Appears in 3 contracts
Samples: Credit Agreement (Phillips 66), Credit Agreement (Phillips 66), Credit Agreement (Phillips 66)
Consolidated Net Debt. The Initial Guarantor Borrower will not permit the outstanding principal amount of Consolidated Net Debt, as of the last day of any fiscal quarter, beginning with the last day of the fiscal quarter in which the Closing Date occurs, to exceed 6560% of Total Capitalization as of such date.
Appears in 2 contracts
Samples: Credit Agreement (Phillips 66), Term Loan Agreement (Phillips 66)
Consolidated Net Debt. The Initial Guarantor Borrower will not permit the outstanding principal amount of Consolidated Net Debt, as of the last day of any fiscal quarter, beginning with the last day of the fiscal quarter in which the Closing Date occurs, to exceed 65% of Total Capitalization as of such date.
Appears in 2 contracts
Samples: Credit Agreement (Phillips 66), Credit Agreement (Phillips 66)
Consolidated Net Debt. The Initial Guarantor Borrower will not permit the outstanding principal amount of Consolidated Net Debt, as of the last day of any fiscal quarter, beginning with the last day of the fiscal quarter in which the Closing Date occurs, to exceed 65% of Total Capitalization as of such date...
Appears in 1 contract
Samples: Credit Agreement (Phillips 66)
