Debt Restrictions. Effective immediately, the Holding Company shall not, directly or indirectly, incur, issue, renew, roll over, or increase any debt or commit to do so without the prior written non-objection of the Regional Director. The Holding Company shall submit its written request for non- objection to the Regional Director at least forty-five (45) days prior to the anticipated date of the proposed debt transaction. The Holding Company’s written requests for Regional Director non- objection to engage in such debt transactions, at a minimum, shall: (a) describe the purpose of the proposed debt; (b) set forth and analyze the terms of the proposed debt and covenants; (c) analyze the Holding Company’s current cash flow resources available to satisfy such debt repayment; and (d) set forth the anticipated source(s) of repayment of the proposed debt. For purposes of this Paragraph of the Agreement, the term “debt” includes, but is not limited to, loans, bonds, cumulative preferred stock, hybrid capital instruments such as subordinated debt or trust preferred securities, and guarantees of debt. For purposes of this Paragraph of the Agreement, the term “debt” does not include liabilities incurred in the ordinary course of business to acquire goods and services and that are normally recorded as accounts payable under generally accepted accounting principles.
Debt Restrictions. The Guarantor will not and will not permit any Subsidiary to create, incur, assume or suffer to exist any Debt, except:
(i) Senior Funded Debt in existence as of the Documentation Date,
(ii) Subordinated Debt,
(iii) Senior Funded Debt (including any Short Term Debt to be included in the computation of Senior Funded Debt pursuant to clause (iv) below) of the Guarantor, so long as the aggregate principal amount of all consolidated Senior Funded Debt does not exceed at any time an amount equal to fifty percent (50%) of Consolidated Capitalization, and
(iv) Short Term Debt of the Guarantor, provided that there shall have been a period of at least thirty (30) consecutive days within the twelve (12) month period immediately preceding the date of determination during which the aggregate principal amount of Short Term Debt of the Guarantor outstanding as of the close of business on any day during such twelve month period did not exceed an amount equal to the amount of Funded Debt which would have been permitted as additional Funded Debt under clause (iii) of this Section 10.2(c) as of the close of business on such day, and provided further that an amount equal to the largest balance of such Short Term Debt outstanding on any day of such thirty (30) day period shall be included in all computations of Senior Funded Debt under clause (iii) above until such Short Term Debt has been repaid in full, and For purposes of this Section 10.2(c), Debt represented by the Loans and Certificate Holder Amounts shall be considered Short Term Debt.
Debt Restrictions. Effective immediately, the Holding Company shall not, directly or indirectly, incur, issue, renew, rollover, or pay interest or principal on any debt or commit to do so, increase any current lines of credit, or guarantee the debt of any entity, without prior written notice to and written non-objection from the Regional Director. The Holding Company’s written request for approval shall be submitted to the Regional Director at least thirty (30) days prior to incurring, issuing, renewing, rolling over or paying any interest or principal on any debt, increasing any current lines of credit, or guaranteeing the debt of any entity. The Holding Company’s written requests for Regional Director non-objection to engage in such debt transactions, at a minimum, shall: (a) describe the purpose of the proposed debt; (b) set forth and analyze the terms of the proposed debt and covenants; (c) analyze the Holding Company’s current cash flow resources available to satisfy such debt repayment; and (d) set forth the anticipated source(s) of repayment of the proposed debt. For purposes of this Paragraph, the term “debt” includes, but is not limited to, loans, bonds, cumulative preferred stock, hybrid capital instruments such as subordinated debt or trust preferred securities, and guarantees of debt. For purposes of this Paragraph, the term “debt” does not include liabilities incurred in the ordinary course of business to acquire goods and services and that are normally recorded as accounts payable or accruals under generally accepted accounting principles.
Debt Restrictions a. Southern Security shall not, directly or indirectly, increase its borrowings or incur any additional debt, including debt to stockholders, without the prior written approval of the Reserve Bank.
b. Southern Security shall not, directly or indirectly, make any debt service payments to any institution-affiliated party, or related interest thereof, without the prior written approval of the Reserve Bank.
Debt Restrictions. No further facilities will be made available to the Customer by BMBF under the Vehicle Finance Facility if Gross Debt exceeds the Gross Debt Limit during the relevant Debt Restriction Test Period as set cut in the table below. Debt Restriction Test Period Gross Debt Limit 1 January 2010 to 31 March 2010 £ 19,800,000 1 April 2010 to 30 June 2010 £ 25,700,000 1 July 2010 to 30 September 2010 £ 31,200,000 1 October 2010 to 31 December 2010 £ 31,500,000 All Gross Debt Limits shall be reduced by a sum equal to the value of any indebtedness howsoever arising due and owing to Smedvig or any other party at any time which is subsequently converted into equity prior to the Expiry Date. BMBF may notify the Customer in writing of the reduced Gross Debt Limit as soon as practical upon BMBF receiving written notice of any such conversion from the Customer. Notwithstanding such notice, the reduced Gross Debt Limit shall apply from the date of any such conversion.
Debt Restrictions. 31 7.5 Liens......................................................................................... 33 7.6 Merger, Consolidation, etc.................................................................... 36 7.7
Debt Restrictions. Effective immediately, the Holding Company shall not, directly or indirectly, incur, issue, renew, rollover, or pay interest or principal on any debt1 or commit to do so, increase any current lines of credit, or guarantee the debt of any entity, without prior written notice to and written non-objection from the Regional Director. The Holding Company’s written request to the Regional Director shall include, at a minimum: a statement regarding the purpose of the debt or payment; a copy of the debt agreement; the planned source(s) for the debt repayment; and an analysis of the cash flow resources available to meet such debt repayment. The Holding Company’s written request for non-objection shall be submitted to the Regional Director at least thirty (30) days prior to the anticipated date of the proposed debt issuance, renewal, or rollover; the proposed increase in any lines of credit; the proposed guarantee of debt; or the proposed
Debt Restrictions. The Company will not and will not permit any Subsidiary to create, incur, assume or suffer to exist any Debt, except:
(a) Senior Funded Debt,
(b) Subordinated Debt,
(c) Debt under the Guaranty, and
(d) Short Term Debt of the Company.
Debt Restrictions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become liable with respect to any Debt, except:
(a) SUBORDINATED NOTES -- Debt evidenced by the Subordinated Notes;
Debt Restrictions. The Company will not, and will not permit any Subsidiary to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise be or become liable with respect to any Debt, except:
(a) the Notes;
(b) Debt owing to Union Planter Bank on April 1, 1999, and any refinancing of such Debt in an aggregate amount not exceeding One Million Five Hundred Thousand Dollars ($1,500,000); and
(c) Other Debt outstanding on April 1, 1999 not exceeding Six Hundred Twenty Three Thousand Dollars ($623,000) in the aggregate.
