Common use of Exempted Transactions Clause in Contracts

Exempted Transactions. (a) Notwithstanding the provisions of Sections 4.08 and 4.09 hereof, the Issuer and any Guarantor may (1) create, incur or assume any Lien upon any property, assets or revenues, or (2) consummate any Sale and Lease-Back Transaction if: (i) the aggregate outstanding principal amount of all Secured Indebtedness for borrowed money of the Issuer and the Guarantors that is secured by Xxxxx on any Principal Personal or Real Property plus (ii) the aggregate Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof does not exceed an amount that would cause the Senior Secured Net Leverage Ratio for the Test Period immediately preceding the creation, incurrence or assumption of such a Lien or consummation of such Sale and Lease-Back Transaction, as applicable, to be greater than 4.00 to 1.00, calculated on a pro forma basis after giving effect to the creation, incurrence or assumption of such Lien and/or such Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof. The Issuer and any Guarantor may guarantee or provide a security interest in respect of any Indebtedness secured by any Lien created, incurred or assumed and any Sale and Lease-Back Transaction consummated, in each case, in compliance with this Section 4.10. (b) In the event any Lien is created, incurred or assumed or any Sale and Lease-Back Transaction is consummated, in each case, in reliance upon compliance with the Senior Secured Net Leverage Ratio set forth in Section 4.10(a) hereof concurrently with the creation, incurrence or assumption of any Permitted Lien, then solely for purposes of calculating the Senior Secured Net Leverage Ratio at such time (but, for the avoidance of doubt, not in any subsequent calculation of the Senior Secured Net Leverage Ratio at a subsequent time), the Senior Secured Net Leverage Ratio will be calculated without regard to the creation, incurrence or assumption of any Indebtedness secured by such Permitted Lien.

Exempted Transactions. (a) Notwithstanding the provisions of Sections 4.08 4.03 and 4.09 hereof4.07, the Issuer Company and any Guarantor Subsidiary may (1) create, incur or assume any Lien upon any property, assets property or revenuesassets, or (2) consummate any Sale and Lease-Lease Back Transaction if: (i) the aggregate outstanding principal amount of all Secured secured Indebtedness for borrowed money of the Issuer Company and the Guarantors its Subsidiaries that is secured by Xxxxx Liens on any Principal Personal of their property or Real Property assets, now owned or hereafter acquired (which amount shall exclude Indebtedness secured by Liens incurred pursuant to clauses (2) through (24) of the definition of Permitted Liens), plus (ii) the aggregate Attributable Indebtedness in respect of Sale and Lease-Lease Back Transactions that are is subject to the restrictions restriction on Sale and Lease-Lease Back Transactions set forth in Section 4.09 hereof described above does not exceed an amount that would cause the Senior Consolidated Net Secured Net Leverage Ratio for the Test Period period immediately preceding the creation, incurrence or assumption of such a Lien or consummation of such Sale and Lease-Lease Back Transaction, as applicable, to be greater than 4.00 3.50 to 1.00, calculated on a pro forma basis after giving effect to the creation, incurrence or assumption of such Lien described above and/or such Attributable Indebtedness in respect of Sale and Lease-Lease Back Transactions that are is subject to the restrictions restriction on Sale and Lease-Lease Back Transactions set forth in Section 4.09 hereofdescribed above. The Issuer Company and any Guarantor Subsidiary may guarantee or provide a security interest in respect of any Indebtedness secured by any Lien created, incurred or assumed and any Sale and Lease-Lease Back Transaction consummated, in each case, in compliance with the terms described in this Section 4.10paragraph. (b) In the event any Lien is created, incurred or assumed or any Sale and Lease-Lease Back Transaction is consummated, in each case, in reliance upon compliance with the Senior Consolidated Net Secured Net Leverage Ratio set forth in Section 4.10(a) hereof described above, concurrently with the creation, incurrence or assumption of any Permitted Lien, then solely for purposes of calculating the Senior Consolidated Net Secured Net Leverage Ratio at such time (but, for the avoidance of doubt, not in any subsequent calculation of the Senior Consolidated Net Secured Net Leverage Ratio at a subsequent time), the Senior Consolidated Net Secured Net Leverage Ratio will be calculated without regard to the creation, incurrence or assumption of any Indebtedness secured by such Permitted Lien.

Exempted Transactions. (a) Notwithstanding the provisions of Sections 4.08 and 4.09 hereof, the Issuer and any Guarantor may (1) create, incur or assume any Lien upon any property, assets or revenues, or (2) consummate any Sale and Lease-Back Transaction if: (i) the aggregate outstanding principal amount of all Secured Indebtedness for borrowed money of the Issuer and the Guarantors that is secured by Xxxxx Liens on any Principal Personal or Real Property plus (ii) the aggregate Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof does not exceed an amount that would cause the Senior Secured Net Leverage Ratio for the Test Period immediately preceding the creation, incurrence or assumption of such a Lien or consummation of such Sale and Lease-Back Transaction, as applicable, to be greater than 4.00 to 1.00, calculated on a pro forma basis after giving effect to the creation, incurrence or assumption of such Lien and/or such Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are is subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof. The Issuer and any Guarantor may guarantee or provide a security interest in respect of any Indebtedness secured by any Lien created, incurred or assumed and any Sale and Lease-Back Transaction consummated, in each case, in compliance with this Section 4.10. (b) In the event any Lien is created, incurred or assumed or any Sale and Lease-Back Transaction is consummated, in each case, in reliance upon compliance with the Senior Secured Net Leverage Ratio set forth in Section 4.10(a) hereof concurrently with the creation, incurrence or assumption of any Permitted Lien, then solely for purposes of calculating the Senior Secured Net Leverage Ratio at such time (but, for the avoidance of doubt, not in any subsequent calculation of the Senior Secured Net Leverage Ratio at a subsequent time), the Senior Secured Net Leverage Ratio will be calculated without regard to the creation, incurrence or assumption of any Indebtedness secured by such Permitted Lien.

Exempted Transactions. (a) Notwithstanding the provisions of Sections 4.08 and 4.09 hereof, the Issuer and any Guarantor may (1) create, incur or assume any Lien upon any property, assets or revenues, or (2) consummate any Sale and Lease-Back Transaction if: (i) the aggregate outstanding principal amount of all Secured Indebtedness for borrowed money of the Issuer and the Guarantors that is secured by Xxxxx Liens on any Principal Personal or Real Property plus (ii) the aggregate Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof does not exceed an amount that would cause the Senior Secured Net Leverage Ratio for the Test Period immediately preceding the creation, incurrence or assumption of such a Lien or consummation of such Sale and Lease-Back Transaction, as applicable, to be greater than 4.00 to 1.00, calculated on a pro forma basis after giving effect to the creation, incurrence or assumption of such Lien and/or such Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are is subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof. The Issuer and any Guarantor may guarantee or provide a security interest in respect of any Indebtedness secured by any Lien created, incurred or assumed and any Sale and Lease-Back Transaction consummated, in each case, in compliance with this Section 4.10. (b) In the event any Lien is created, incurred or assumed or any Sale and Lease-Back Transaction is consummated, in each case, in reliance upon compliance with the Senior Secured Net Leverage Ratio set forth in Section 4.10(a4.09(a) hereof concurrently with the creation, incurrence or assumption of any Permitted Lien, then solely for purposes of calculating the Senior Secured Net Leverage Ratio at such time (but, for the avoidance of doubt, not in any subsequent calculation of the Senior Secured Net Leverage Ratio at a subsequent time), the Senior Secured Net Leverage Ratio will be calculated without regard to the creation, incurrence or assumption of any Indebtedness secured by such Permitted Lien.

Exempted Transactions. (a) Notwithstanding the provisions of Sections 4.08 and 4.09 hereof, the Issuer and any Guarantor may (1) create, incur or assume any Lien upon any property, assets or revenues, or (2) consummate any Sale and Lease-Back Transaction if: (i) the aggregate outstanding principal amount of all Secured Indebtedness for borrowed money of the Issuer and the Guarantors that is secured by Xxxxx Liens on any Principal Personal or Real Property plus (ii) the aggregate Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof does not exceed an amount that would cause the Senior Secured Net Leverage Ratio for the Test Period immediately preceding the creation, incurrence or assumption of such a Lien or consummation of such Sale and Lease-Back Transaction, as applicable, to be greater than 4.00 to 1.00, calculated on a pro forma basis after giving effect to the creation, incurrence or assumption of such Lien and/or such Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are is subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof. The Issuer and any Guarantor may guarantee or provide a security interest in respect of any Indebtedness secured by any Lien created, incurred or assumed and any Sale and Lease-Back Transaction consummated, in each case, in compliance with this Section 4.10. (b) In the event any Lien is created, incurred or assumed or any Sale and Lease-Back Transaction is consummated, in each case, in reliance upon compliance with the Senior Secured Net Leverage Ratio set forth in Section 4.10(a4.09(a) hereof concurrently with the creation, incurrence or assumption of any Permitted Lien, then solely for purposes of calculating the Senior Secured Net Leverage Ratio at such time (but, for the avoidance of doubt, not in any subsequent calculation of the Senior Secured Net Leverage Ratio at a subsequent time), the Senior Secured Net Leverage Ratio will be calculated without regard to the creation, incurrence or assumption of any Indebtedness secured by such Permitted Lien.

Exempted Transactions. A. The provisions described above under Section II. A., B. and C. captioned "Prohibited Purchases and Sales of Securities" do not apply to: 1. Purchases or Sales of Excluded Securities; 2. Purchases or Sales of options contracts on a broad-based market index; 3. Purchases or Sales of Securities which are not eligible for Purchase or Sale by the Adviser or not ordinarily Purchased or Sold by the Adviser on behalf of its Clients, E.G., securities of any investment company registered under the Investment Company Act of 1940, Purchases or Sales of any Securities of an issuer with a market capitalization (aoutstanding shares multiplied by the current price per share) Notwithstanding less than $500 million; 4. Purchases or Sales of any Securities in any transaction, or series of transactions, involving 2000 shares or less in the provisions aggregate of Sections 4.08 an issuer with a market capitalization (outstanding shares multiplied by the current price per share) greater than $500 million if the Iridian Personnel had no prior knowledge of transactions in such security by the Adviser, PROVIDED, HOWEVER, THAT PRECLEARANCE IS STILL REQUIRED FOR THESE TRANSACTIONS; 5. Purchases or Sales of Securities effected in any account over which Iridian Personnel has no direct or indirect influence or control, or in any account of the Iridian Personnel which is managed on a discretionary basis by a person other than such Iridian Personnel and 4.09 hereofwith respect to which such Iridian Personnel does not in fact influence or control such transactions; 6. Purchases or Sales of Securities which are non-volitional on the part of Iridian Personnel (e.g., the Issuer receipt of stock dividends); 7. Purchases of Securities made as part of automatic dividend reinvestment plans; 8. Purchases of Securities effected upon the exercise of rights issued by an issuer pro rata to all holders of a class of its securities, to the extent such rights were acquired from such issuer, and any Guarantor may (1) create, incur or assume any Lien upon any property, assets or revenues, or (2) consummate any Sale and Lease-Back Transaction if: (i) sale of such rights so acquired; and 9. All other transactions contemplated by Iridian Personnel which receive the aggregate outstanding principal amount of all Secured Indebtedness for borrowed money prior approval of the Issuer and the Guarantors that is secured by Xxxxx on any Principal Personal or Real Property plus (ii) the aggregate Attributable Indebtedness Chief Compliance Officer in respect of Sale and Lease-Back Transactions that are subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof does not exceed an amount that would cause the Senior Secured Net Leverage Ratio for the Test Period immediately preceding the creation, incurrence or assumption of such a Lien or consummation of such Sale and Lease-Back Transaction, as applicable, to be greater than 4.00 to 1.00, calculated on a pro forma basis after giving effect to the creation, incurrence or assumption of such Lien and/or such Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof. The Issuer and any Guarantor may guarantee or provide a security interest in respect of any Indebtedness secured by any Lien created, incurred or assumed and any Sale and Lease-Back Transaction consummated, in each case, in compliance with this Section 4.10. (b) In the event any Lien is created, incurred or assumed or any Sale and Lease-Back Transaction is consummated, in each case, in reliance upon compliance accordance with the Senior Secured Net Leverage Ratio set forth in Section 4.10(a) hereof concurrently with the creation, incurrence or assumption of any Permitted Lien, then solely for purposes of calculating the Senior Secured Net Leverage Ratio at such time (but, for the avoidance of doubt, not in any subsequent calculation of the Senior Secured Net Leverage Ratio at a subsequent time), the Senior Secured Net Leverage Ratio will be calculated without regard to the creation, incurrence or assumption of any Indebtedness secured by such Permitted LienAdviser's preclearance procedures.

Exempted Transactions. (a) Notwithstanding the provisions of Sections 4.08 and 4.09 hereof, the Issuer Company and any Guarantor Subsidiary may (1) create, incur or assume any Lien upon any property, assets property or revenuesassets, or (2) consummate any Sale and Lease-Lease Back Transaction if: (i) the aggregate outstanding principal amount of all Secured secured Indebtedness for borrowed money of the Issuer Company and the Guarantors its Subsidiaries that is secured by Xxxxx Liens on any Principal Personal of their property or Real Property assets, now owned or hereafter acquired, plus (ii) the aggregate Attributable Indebtedness in respect of Sale and Lease-Lease Back Transactions that are is subject to the restrictions restriction on Sale and Lease-Lease Back Transactions set forth in Section 4.09 hereof described above does not exceed an amount that would cause the Senior Consolidated Net Secured Net Leverage Ratio for the Test Period period immediately preceding the creation, incurrence or assumption of such a Lien or consummation of such Sale and Lease-Lease Back Transaction, as applicable, to be greater than 4.00 3.50 to 1.00, calculated on a pro forma basis after giving effect to the creation, incurrence or assumption of such Lien described above and/or such Attributable Indebtedness in respect of Sale and Lease-Lease Back Transactions that are is subject to the restrictions restriction on Sale and Lease-Lease Back Transactions set forth in Section 4.09 hereofdescribed above. The Issuer Company and any Guarantor Subsidiary may guarantee or provide a security interest in respect of any Indebtedness secured by any Lien created, incurred or assumed and any Sale and Lease-Lease Back Transaction consummated, in each case, in compliance with the terms described in this Section 4.104.12. (b) In the event any Lien is created, incurred or assumed or any Sale and Lease-Lease Back Transaction is consummated, in each case, in reliance upon compliance with the Senior Consolidated Net Secured Net Leverage Ratio set forth in Section 4.10(a) hereof described above, concurrently with the creation, incurrence or assumption of any Permitted Lien, then solely for purposes of calculating the Senior Consolidated Net Secured Net Leverage Ratio at such time (but, for the avoidance of doubt, not in any subsequent calculation of the Senior Consolidated Net Secured Net Leverage Ratio at a subsequent time), the Senior Consolidated Net Secured Net Leverage Ratio will be calculated without regard to the creation, incurrence or assumption of any Indebtedness secured by such Permitted Lien.

Exempted Transactions. (a) Notwithstanding the provisions of Sections 4.08 4.03 and 4.09 hereof4.07, the Issuer Company and any Guarantor Subsidiary may (1) create, incur or assume any Lien upon any property, assets property or revenuesassets, or (2) consummate any Sale and Lease-Lease Back Transaction Transaction, if: (i) the aggregate outstanding principal amount of all Secured secured Indebtedness for borrowed money of the Issuer Company and the Guarantors its Subsidiaries that is secured by Xxxxx Liens on any Principal Personal of their property or Real Property assets, now owned or hereafter acquired (which amount shall exclude Indebtedness secured by Liens incurred pursuant to clauses (2) through (26) of the definition of Permitted Liens (“Exempted Liens”)), plus (ii) the aggregate Attributable Indebtedness in respect of Sale and Lease-Lease Back Transactions that are is subject to the restrictions restriction on Sale and Lease-Lease Back Transactions set forth in Section 4.09 hereof described above does not exceed an amount that would cause the Senior Consolidated Net Secured Net Leverage Ratio for the Test Period period immediately preceding the creation, incurrence or assumption of such a Lien or consummation of such Sale and Lease-Lease Back Transaction, as applicable, to be greater than 4.00 the greater of (x) 3.50 to 1.001.00 or (y) if such Lien is created, incurred or assumed in connection with an acquisition or investment, the Consolidated Net Secured Leverage Ratio immediately prior to such creation, incurrence or assumption, in each case calculated on a pro forma basis consistent with the pro forma adjustment provisions set forth in the definition of “Consolidated Net Secured Leverage Ratio,” and after giving effect to the creation, incurrence or assumption of such Lien described above and/or such Attributable Indebtedness in respect of Sale and Lease-Lease Back Transactions that are is subject to the restrictions restriction on Sale and Lease-Lease Back Transactions set forth in Section 4.09 hereofdescribed above. The Issuer Company and any Guarantor Subsidiary may guarantee or provide a security interest in respect of any Indebtedness secured by any Lien created, incurred or assumed and any Sale and Lease-Lease Back Transaction consummated, in each case, in compliance with the terms described in this Section 4.10paragraph. (b) In the event any Lien is created, incurred or assumed or any Sale and Lease-Lease Back Transaction is consummated, in each case, in reliance upon compliance with the Senior Consolidated Net Secured Net Leverage Ratio set forth in Section 4.10(a) hereof described above, concurrently with the creation, incurrence or assumption of any Permitted Lien, then solely for purposes of calculating the Senior Consolidated Net Secured Net Leverage Ratio at such time (but, for the avoidance of doubt, not in any subsequent calculation of the Senior Consolidated Net Secured Net Leverage Ratio at a subsequent time), the Senior Consolidated Net Secured Net Leverage Ratio will be calculated without regard to the creation, incurrence or assumption of any Indebtedness secured by such Permitted Lien.

Exempted Transactions. (a) Notwithstanding the provisions of Sections 4.08 and 4.09 hereof, the Issuer and any Guarantor may (1) create, incur or assume any Lien upon any property, assets or revenues, or (2) consummate any Sale and Lease-Back Transaction if: (i) the aggregate outstanding principal amount of all Secured Indebtedness for borrowed money of the Issuer and the Guarantors that is secured by Xxxxx Liens on any Principal Personal or Real Property plus (ii) the aggregate Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof does not exceed an amount that would cause the Senior Secured Net Leverage Ratio for the Test Period immediately preceding the creation, incurrence or assumption of such a Lien or consummation of such Sale and Lease-Back Transaction, as applicable, to be greater than 4.00 to 1.00, calculated on a pro forma basis after giving effect to the creation, incurrence or assumption of such Lien and/or such Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are is subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof. The Issuer and any Guarantor may guarantee or provide a security interest in respect of any Indebtedness secured by any Lien created, incurred or assumed and any Sale and Lease-Back Transaction consummated, in each case, in compliance with this Section 4.10. (b) In the event any Lien is created, incurred or assumed or any Sale and Lease-Back Transaction is consummated, in each case, in reliance upon compliance with the Senior Secured Net Leverage Ratio set forth in Section 4.10(a4.09(a) hereof concurrently with the creation, incurrence or assumption of any Permitted Lien, then solely for purposes of calculating the Senior Secured Net Leverage Ratio at such time (but, for the avoidance of doubt, not in any subsequent calculation of the Senior Secured Net Leverage Ratio at a subsequent time), the Senior Secured Net Leverage Ratio will be calculated without regard to the creation, incurrence or assumption of any Indebtedness secured by such Permitted Lien.

Exempted Transactions. (a) Notwithstanding the provisions of Sections 4.08 4.06 and 4.09 hereof4.07, the Issuer and any Guarantor may if (1) create, incur or assume any Lien upon any property, assets or revenues, or (2) consummate any Sale and Lease-Back Transaction if: (ia) the aggregate outstanding principal amount of all Secured Indebtedness for borrowed money of HCA Inc. and its Subsidiaries that is subject to and not otherwise permitted under these restrictions does not exceed 15% of the Issuer Consolidated Net Tangible Assets of HCA Inc. and the Guarantors that is its Subsidiaries, then: (i) HCA Inc. or any of its Subsidiaries may issue, assume or guarantee Indebtedness secured by Xxxxx on any Principal Personal or Real Property plus Mortgages; and (ii) the aggregate Attributable Indebtedness in respect HCA Inc. or any of Sale and Lease-Back Transactions that are subject to the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof does not exceed an amount that would cause the Senior Secured Net Leverage Ratio for the Test Period immediately preceding the creation, incurrence or assumption of such a Lien or consummation of such its Subsidiaries may enter into any Sale and Lease-Back Transaction, as applicable, to be greater than 4.00 to 1.00, calculated on a pro forma basis after giving effect to ; and (iii) the creation, incurrence Issuer may guarantee the obligations of HCA Inc. or assumption any of such Lien and/or such Attributable its Subsidiaries under clauses (i) or (ii) above; and (b) the aggregate outstanding principal amount of all Indebtedness in respect of Sale the Issuer and Lease-Back Transactions its Subsidiaries that are is subject to and not otherwise permitted under these restrictions does not exceed 20% of the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof. The Consolidated Net Tangible Assets of the Issuer and its Subsidiaries, then: (i) the Issuer or any Guarantor of its Subsidiaries (other than HCA Inc. and its Subsidiaries) may issue, assume or guarantee or provide a security interest in respect of any Indebtedness secured by Mortgages; and (ii) the Issuer or any Lien created, incurred or assumed of its Subsidiaries (other than HCA Inc. and its Subsidiaries) may enter into any Sale and Lease-Back Transaction consummatedTransaction; provided, however, that in each case, in compliance with this Section 4.10. (b) In no event shall the event Capital Stock of HCA Inc. be pledged or otherwise be encumbered to secure any Lien is created, incurred or assumed or any Sale and Lease-Back Transaction is consummated, in each case, in reliance upon compliance with the Senior Secured Net Leverage Ratio set forth in Section 4.10(a) hereof concurrently with the creation, incurrence or assumption of any Permitted Lien, then solely for purposes of calculating the Senior Secured Net Leverage Ratio at such time (but, for the avoidance of doubt, not in any subsequent calculation Indebtedness of the Senior Secured Net Leverage Ratio at a subsequent time)Issuer unless in all such instances, the Senior Secured Net Leverage Ratio will be calculated without regard to the creation, incurrence Notes are equally and ratably secured with (or assumption of any Indebtedness secured by prior to) such Permitted LienIndebtedness.

Exempted Transactions. (a) Notwithstanding the foregoing provisions of Sections 4.08 4.07 and 4.09 hereof4.08, the Issuer and any Guarantor may if (1) create, incur or assume any Lien upon any property, assets or revenues, or (2) consummate any Sale and Lease-Back Transaction if: (ia) the aggregate outstanding principal amount of all Secured Indebtedness for borrowed money of the Issuer HCA Inc. and the Guarantors its Subsidiaries that is secured by Xxxxx on any Principal Personal or Real Property plus (ii) the aggregate Attributable Indebtedness in respect of Sale and Lease-Back Transactions that are subject to the and not otherwise permitted under these restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof does not exceed an amount that would cause 15% of the Senior Secured Consolidated Net Leverage Ratio for the Test Period immediately preceding the creationTangible Assets of HCA Inc. and its Subsidiaries, incurrence then: (1) HCA Inc. or assumption any of such a Lien its Subsidiaries may issue, assume or consummation guarantee Indebtedness secured by Mortgages; and (2) HCA Inc. or any of such its Subsidiaries may enter into any Sale and Lease-Back Transaction, as applicable, to be greater than 4.00 to 1.00, calculated on a pro forma basis after giving effect to ; and (3) the creation, incurrence Issuer may guarantee the obligations of HCA Inc. or assumption any of such Lien and/or such Attributable its Subsidiaries under clauses (1) or (2) above; and (b) the aggregate outstanding principal amount of all Indebtedness in respect of Sale the Issuer and Lease-Back Transactions its Subsidiaries that are is subject to and not otherwise permitted under these restrictions does not exceed 20% of the restrictions on Sale and Lease-Back Transactions set forth in Section 4.09 hereof. The Consolidated Net Tangible Assets of the Issuer and its Subsidiaries, then: (1) the Issuer or any Guarantor of its Subsidiaries (other than HCA Inc. and its Subsidiaries) may issue, assume or guarantee or provide a security interest in respect of any Indebtedness secured by Mortgages; and (2) the Issuer or any Lien created, incurred or assumed of its Subsidiaries (other than HCA Inc. and its Subsidiaries) may enter into any Sale and Lease-Back Transaction consummatedTransaction; provided, however, that in each case, in compliance with this Section 4.10. (b) In no event shall the event Capital Stock of HCA Inc. be pledged or otherwise be encumbered to secure any Lien is created, incurred or assumed or any Sale and Lease-Back Transaction is consummated, in each case, in reliance upon compliance with the Senior Secured Net Leverage Ratio set forth in Section 4.10(a) hereof concurrently with the creation, incurrence or assumption of any Permitted Lien, then solely for purposes of calculating the Senior Secured Net Leverage Ratio at such time (but, for the avoidance of doubt, not in any subsequent calculation Indebtedness of the Senior Secured Net Leverage Ratio at a subsequent time)Issuer unless in all such instances, the Senior Secured Net Leverage Ratio will be calculated without regard to the creation, incurrence Notes are equally and ratably secured with (or assumption of any Indebtedness secured by prior to) such Permitted LienIndebtedness.