Debt Restriction. (i) in the case of the Company, unsecured Debt, provided that immediately after giving effect thereto, the Company shall be in pro forma compliance (calculated based on historical financial statements most recently furnished or required to be furnished pursuant to paragraph 5A(i) or (ii) as though such Debt had been incurred at the beginning of the period covered thereby, adjusted to account for the refinancing or replacement of Debt by such Debt being incurred and for any permanent repayments of Debt) with the covenants set forth in paragraph 5K, provided further, that with respect to any Debt arising under Hedge Agreements, such Hedge Agreements shall be designed to hedge against fluctuations in interest rates, commodity prices or foreign exchange rates incurred in the ordinary course of business, shall be consistent with prudent business practices, and shall be non-speculative in nature (including, without limitation, with respect to the term and purpose thereof);
(ii) in the case of the Company's Subsidiaries (other than the Joint Venture Company),
(A) Membership Debt with respect to (i) Canpotex incurred in the ordinary course of business and consistent with prudent business practices or (ii) SKMG incurred in the ordinary course of business and consistent with past business practices,
(B) Debt existing on the date hereof, as set forth on Part I of Schedule 6B(2) (such Debt, other than Debt consisting of intercompany Debt, being the "Existing Subsidiary Debt"), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, any Existing Subsidiary Debt, provided that the terms of any such extending, refunding or refinancing Debt, and of any agreement entered into and of any instrument issued in connection therewith, are no more restrictive in any material respects than the terms of the Existing Subsidiary Debt being extended, refunded or refinanced thereby (it being understood that Debt being refinanced at maturity may bear interest at then-market rates) and provided further that the principal amount of such Existing Subsidiary Debt shall not be increased above the principal amount thereof outstanding immediately prior to the Restatement Date and the direct and contingent obligors therefor shall not be changed (other than the addition of the guaranty of such Debt by the Company) to the extent such guarantee is otherwise permitted under paragraph 6B(2)(i), as a result of or in connection with such extension, refunding or refina...
Debt Restriction. Create, incur, assume or suffer to exist any Debt, except:
(i) Debt in existence on March 28, 1996;
(ii) Debt of any Subsidiary to the Company or to any other Subsidiary; and
(iii) additional Debt of the Company and/or any Subsidiary subject to the proviso set forth below; PROVIDED, HOWEVER, (x) that the aggregate principal amount of consolidated Debt of the Company and its Subsidiaries shall not exceed at any time an amount equal to 58% of Consolidated Capitalization and (y) Priority Debt shall not exceed at any time an amount equal to 20% of Consolidated Tangible Net Worth.
Debt Restriction. Incur, assume, guarantee or otherwise create any Debt other than:
(a) the Loans and Standby L/Cs provided for pursuant to this Agreement;
(b) Debt relating to purchase money Liens permitted by Section 7.1(e);
(c) Debt not exceeding an aggregate of $6 million at any time, which Debt is fully subordinated to the payment of Debt owed to the Banks; and
(d) Debt not exceeding an aggregate of $3 million at any time, which Debt is assumed by any Borrower in connection with acquisitions permitted by Section 2.11.
Debt Restriction. 26 Section 6.04. Payment of Dividends on the 7% Preferred Stock and the 8% Preferred Stock............................26
Debt Restriction. 42 Section 7.8 Investments..............................................43 Section 7.9
Debt Restriction. Borrowers will not incur or allow to be outstanding any future indebtedness for borrowed money, other than that evidenced by the Notes, indebtedness incurred for liability insurance premiums financed for no more than twelve (12) months, and ordinary trade payables, which are incurred in connection with the Borrowers' business;
Debt Restriction. No additional financial debt or similar obligations provided to the Borrower and/or its subsidiaries shall be allowed without prior written consent of the Bank, with the following exceptions:
(i) revolving line of credit and letters of credit facilities of EUR 750,000.00 (Euros seven hundred fifty thousand and o/oo) in aggregate at the maximum for RBCF granted by a local bank.
(ii) existing lease financing provided to the Borrower;
(iii) existing subordinated debt provided by Schaublin Holding of CHF 1,375,000.00 (Swiss francs one million and three hundred seventy-five thousand and o/oo) to the Borrower;
(iv) Subordinated debt in form of a shareholder loan by Schaublin Holding as defined in Clause 8.
Debt Restriction. Create, incur, assume or suffer to exist any Indebtedness, except:
Debt Restriction. Neither Franklin Electric nor any Subsidiary will create, incur, assume or suffer to exist any Debt, except:
(a) Current Debt of Franklin Electric and its Subsidiaries, provided that commencing on October 1, 1995 and at all times thereafter there shall have been a period of at least 30 consecutive days within the 12 month period immediately preceding the date of determination during which the aggregate principal amount of Current Debt of Franklin Electric and its Subsidiaries outstanding as of the close of business on each day during such 30 day period did not exceed an amount equal to the amount of Funded Debt which would have been permitted as additional Funded Debt under paragraph (b) of this Section 5.03 as of the close of business on each such day during such 30 day period (with the amount of such Funded Debt being determined for purposes of this Section 5.03(a) only as if the term "Consolidated Tangible Test Capitalization" appearing in Section 5.03(b) were instead "Consolidated Tangible Capitalization");
(b) Funded Debt of Franklin Electric or any Subsidiary (including Debt represented by the Notes), provided that (i) the aggregate principal amount of all Funded Debt of Franklin Electric and its Subsidiaries at no time exceeds 50% of Consolidated Tangible Test Capitalization and (ii) the aggregate amount of (A) Debt of U.S. Subsidiaries which is Guaranteed by Franklin Electric and (B) Debt of Franklin Electric secured by Liens at no time exceeds 15% of Consolidated Tangible Net Worth; and
(c) Debt of Franklin Electric or any Subsidiary owing to Franklin Electric or to any Subsidiary.
Debt Restriction. A. Section 5.03(a)
1. Specify 30 day period during preceding 12 month period during which Current Debt had been cleaned down in accordance with Section 5.03(a): [Date] through [Date]
2. Specify highest balance of Current Debt of the Company and its Subsidiaries during the period specified in line 1 above: $_______________
3. Specify highest balance of Funded Debt of the Company and its Subsidiaries during the period specified in Line 1: $_______________ 4. Total of Line 2 plus line 3: $_______________
