Financial Indebtedness. (a) No Obligor shall (and the Company shall ensure that no other member of the Group will) incur (or agree to incur) or have outstanding any Financial Indebtedness.
(b) Paragraph (a) above does not apply to:
(i) Financial Indebtedness referred to in paragraph (b) of Clause 23.6 (Loans and guarantees);
(ii) Financial Indebtedness arising under the Finance Documents;
(iii) any Financial Indebtedness of a company which becomes a member of the Group after the date of this Agreement, where the Financial Indebtedness is incurred prior to the date on which that company becomes a member of the Group if:
(A) the Financial Indebtedness was not incurred in contemplation of the acquisition of that company;
(B) the Financial Indebtedness is repaid, prepaid or cancelled in full within [***] of that company becoming a member of the Group;
(iv) any Financial Indebtedness permitted under Clause 23.19 (Hedging);
(v) any Financial Indebtedness to the extent covered by a guarantee, bond or letter of credit issued under an Ancillary Facility;
(vi) Permitted Existing Financial Indebtedness;
(vii) Financial Indebtedness arising from the issuance or issuances of one or more convertible or regular bonds with an aggregate maximum subscription amount not exceeding EUR [***] provided that:
(A) any such bond issued is unsecured;
(B) any such bond ranks pari passu with, or subordinated to the Facilities; and
(C) the proceeds are applied in accordance with Clause 9.5 (Capital Market Issue Proceeds) and Clause 9.8 (Application of Capital Market Issue Proceeds); and
(viii) any Financial Indebtedness (other than falling within paragraph (g) of the definition of Financial Indebtedness) provided that any Financial Indebtedness referred to in paragraphs (h) or (j) of the definition of Financial Indebtedness shall only be counted once for this purpose) not falling within paragraphs (i) to (vi) above, the aggregate outstanding principal amount of which across the Group does not at any time exceed [***] (or its equivalent in another currency or currencies).
Financial Indebtedness. (a) Except as permitted under paragraph (b) below, no Obligor shall (and the Parent shall ensure that no member of the Group will) incur or allow to remain outstanding any Financial Indebtedness.
(b) Paragraph (a) above does not apply to Financial Indebtedness which is:
(i) Permitted Financial Indebtedness; or
(ii) a Permitted Transaction.
Financial Indebtedness. No Borrower shall incur or permit to be outstanding any Financial Indebtedness except Permitted Financial Indebtedness.
Financial Indebtedness. Except as permitted under paragraph (b) below, no Obligor shall (and the Company shall ensure that no member of the Group will) incur or allow to remain outstanding any Financial Indebtedness.
Financial Indebtedness. No Borrower has any Financial Indebtedness outstanding other than Permitted Financial Indebtedness.
Financial Indebtedness. No member of the Group (other than a Guarantor or a Project Finance Subsidiary) shall incur, create or permit to subsist or have outstanding any Financial Indebtedness or enter into any agreement or arrangement whereby it is entitled to incur, create or permit to subsist any Financial Indebtedness other than Permitted Financial Indebtedness.
Financial Indebtedness. No Borrower has any Financial Indebtedness outstanding other than as permitted by this Agreement.
Financial Indebtedness. Other than Permitted Financial Indebtedness, an Obligor shall not incur any Financial Indebtedness.
Financial Indebtedness amend the definition of Financial Indebtedness as follows:
(a) deleting paragraph (f) in relation to deferred payments; and
(b) by excluding the following items from the definition:
(i) any obligation to make payments in relation to earn outs;
(ii) any pension obligations; and
(iii) any payments for assets acquired or services supplied deferred in accordance with the terms pursuant to which the relevant assets were or are to be acquired or services were or are to be supplied.
Financial Indebtedness. (a) Insert a new limb (e)(xii) into the definition of Financial Indebtedness in Clause 1.1 (Definitions) as follows: “indebtedness raised through sale and lease back transactions.”
(b) Amend limb (e)(iv) of the definition of Financial Indebtedness in Clause 1.1 (Definitions) to delete “obligations under Finance Leases and” and replace it with “any Lease Obligations and obligations under”.
(c) Insert a new definition in Clause 1.1 (Definitions) as follows:
