Incurrence of Additional Debt. The Company shall not, and shall not permit any Restricted Subsidiary to, Incur, directly or indirectly, any Debt unless, either:
(a) such Debt is Debt of the Company or a Subsidiary Guarantor and after giving effect to the Incurrence of such Debt and the application of the proceeds thereof, the Consolidated Interest Coverage Ratio would be at least (x) 2.50 to 1.00 until the third anniversary of the Issue Date and (y) at least 2.00 to 1.00 thereafter, or
(b) such Debt is Permitted Debt. Accrual of interest, accrual of dividends, the accretion of accreted value, the payment of interest in the form of additional Debt and the payment of dividends in the form of additional shares of Disqualified Stock or Preferred Stock will not be deemed to be an Incurrence of Debt for purposes of this Section 4.11. The amount of any Debt outstanding as of any date shall be (i) the accreted value of the Debt in the case of any Debt issued with original issue discount and (ii) the principal amount or liquidation preference thereof, together with any interest thereon that is more than 30 days past due, in the case of any other Debt. For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Debt, the U.S. dollar-equivalent principal amount of Debt denominated in a foreign currency shall be calculated based on the relevant currency exchange rate (as reasonably determined by the Company) in effect on the date such Debt was incurred, in the case of term Debt, or first committed, in the case of revolving credit Debt; provided, that if such Debt is incurred to refinance other Debt denominated in a foreign currency, and such refinancing would cause the applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Debt does not exceed the principal amount of such Debt being refinanced. Notwithstanding any other provision of this Section 4.11, the maximum amount of Debt that the Company may incur pursuant to this Section 4.11 shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. The principal amount of any Debt incurred to refinance other Debt, if incurred in a different currency from the Debt being refinanced, shall be calculated based on the currency exchange ...
Incurrence of Additional Debt. (a) Issuer shall not, and shall not permit any other Note Party to, Incur, directly or indirectly, any Debt unless, after giving effect to the application of the proceeds thereof, no Default or Event of Default would occur as a consequence of such Incurrence or be continuing following such Incurrence and:
(i) the accumulated Debt of Issuer and its Subsidiaries would not exceed 75% of the net value of the total assets of Issuer and its Subsidiaries as stated in the audited consolidated financial statements of Issuer and its Subsidiaries for the most recent fiscal year then ended, or
(ii) such Debt is Permitted Debt.
(b) Notwithstanding anything to the contrary contained in this Section,
(i) Issuer shall not, and shall not permit any other Note Party to, Incur any Debt pursuant to this covenant if the proceeds thereof are used, directly or indirectly, to Refinance any Subordinated Debt unless such Debt shall be subordinated to the Notes, to at least the same extent as such Subordinated Debt;
(ii) accrual of interest, accretion or amortization of original issue discount and the payment of interest or dividends in the form of additional Debt, will be deemed not to be an Incurrence of Debt for purposes of this Section 6.8; and
(iii) for purposes of Section 6.8(a)(i), the Original Preferred Stock shall not be deemed to be Debt.
(c) For purposes of determining compliance with Section 6.8(a), in the event that an item of Debt meets the criteria of more than one of the categories of Permitted Debt described in clauses (a) through (c) of the definition thereof or is entitled to be incurred pursuant to Section 6.8(a)(i), Issuer shall, in its sole discretion, classify (or later reclassify in whole or in part, in its sole discretion) such item of Debt in any manner that complies with Section 6.8(a).
Incurrence of Additional Debt. The Company shall not, and shall not permit any of its Subsidiaries to, Incur, directly or indirectly, any Debt unless, after giving effect to the application of the proceeds thereof, no Default or Event of Default would occur as a consequence of such Incurrence or be continuing following such Incurrence and either:
(1) such Debt is Debt of the Company or a Guarantor and, after giving effect to the Incurrence of such Debt and the application of the proceeds thereof, (x) the Fixed Charge Coverage Ratio would be greater than 3.5 to 1.00 and (y) the Leverage Ratio would not exceed 3.75 to 1.00, or
(2) such Debt is Permitted Debt.
Incurrence of Additional Debt. Neither Borrower nor Guarantor shall create, incur, assume or suffer to exist any additional Debt, direct or indirect, without the prior written consent of Lender.
Incurrence of Additional Debt. The Parent and the Company shall not, and shall not permit any of their respective Restricted Subsidiaries to, Incur, directly or indirectly, any Debt, including any Acquired Debt (other than Permitted Debt) unless, after giving effect to the application of the proceeds thereof, no Default or Event of Default would occur as a consequence of such Incurrence or be continuing following such Incurrence and such Debt is Debt of the Company or a Guarantor and, after giving effect to the Incurrence of such Debt and the application of the proceeds thereof, the Consolidated Interest Coverage Ratio would be at least 2.00 to 1.00.
Incurrence of Additional Debt. The Company shall not, and shall not permit any Subsidiary to, Incur, directly or indirectly, any Debt unless such Debt is Permitted Debt.
Incurrence of Additional Debt. Notwithstanding any agreement to the contrary in Section 4 of the Third Amendment, the parties hereto agree that the Parent and the Borrower shall be entitled to issue, and any of the Loan Parties shall be entitled to guarantee, the Second Lien Notes as contemplated by the Plan of Reorganization.
Incurrence of Additional Debt. 11 6.2 Liens ................................................................................................................................. 11 6.3 Transactions with Affiliates .............................................................................................. 11 6.4
Incurrence of Additional Debt. The Company shall not, and shall not permit any of its Subsidiaries to, Incur, directly or indirectly, any Debt unless, after giving effect to the application of the proceeds thereof, no Default or Event of Default would occur as a consequence of such Incurrence or be continuing following such Incurrence and either:
(1) such Debt is Debt of the Company or a Guarantor and, after giving effect to the Incurrence of such Debt and the application of the proceeds thereof, (x) the Fixed Charge Coverage Ratio would be greater than 2.75 to 1.00 from the Issue Date through the first anniversary of the Issue Date, and 3.5 to 1.00 if such Debt is incurred thereafter and (y) the Leverage Ratio would not exceed 4.25 to 1.00 from the Issue Date through the first anniversary of the Issue Date, and 3.75 to 1.00 if such Debt is incurred thereafter, or
(2) such Debt is Permitted Debt.
Incurrence of Additional Debt. The Company shall not, and shall not permit any Restricted Subsidiary to, Incur, directly or indirectly, any Debt unless, after giving effect to the application of the proceeds thereof, no Event of Default would occur as a consequence of such Incurrence or be continuing following such Incurrence and either:
