Common use of Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock Clause in Contracts

Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock. (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness (including Acquired Debt) and the Company will not issue any Disqualified Stock and will not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that the Issuers and any Guarantor may Incur Indebtedness (including Acquired Debt) and the Company may issue shares of Disqualified Stock, if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred or such Disqualified Stock is issued would have been at least 3.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net cash proceeds therefrom, including the effect of acquisitions or repayments or redemptions of Indebtedness to be funded by such proceeds), as if the additional Indebtedness had been Incurred, or the Disqualified Stock had been issued, as the case may be, at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Indenture (TitleMax of Virginia, Inc.)

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Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock. (a) The Company will shall not, and will shall not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, "INCUR") any Indebtedness (including Acquired Debt) ), and the Company will shall not issue any shares of Disqualified Stock and will the Company shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred StockDisqualified Stock or preferred stock; provided, however, that the Issuers and any Guarantor Company may Incur incur Indebtedness (including Acquired Debt) or issue Disqualified Stock, and the Company any Guarantor may incur Indebtedness (including Acquired Debt), issue shares of Disqualified StockStock or issue shares of preferred stock, if the Fixed Charge Coverage Ratio for the Company’s 's most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred incurred or such Disqualified Stock or preferred stock is issued issued, as the case may be, would have been at least 3.0 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net cash proceeds therefrom, including the effect of acquisitions or repayments or redemptions of Indebtedness to be funded by such proceeds), as if the additional Indebtedness had been Incurred, incurred or the Disqualified Stock or the preferred stock had been issued, as the case may be, at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Navios Maritime Holdings Inc.

Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock. (a) The Company will shall not, and will shall not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt) ), and the Company will shall not issue any Disqualified Stock and will shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stockpreferred stock; provided, however, that the Issuers and any Guarantor the Guarantors may Incur incur Indebtedness (including Acquired Debt) and the Company may or issue shares of Disqualified StockStock or preferred stock, if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred incurred or such Disqualified Stock or such preferred stock is issued issued, as the case may be, would have been at least 3.0 2.0 to 1.01, determined on a pro forma basis (including a pro forma application of the net cash proceeds therefrom, including the effect of acquisitions or repayments or redemptions of Indebtedness to be funded by such proceeds), as if the additional Indebtedness had been Incurred, incurred or the Disqualified Stock or the preferred stock had been issued, as the case may be, at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Supplemental Indenture (IASIS Healthcare LLC)

Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock. (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Ac- quired Debt) ), and the Company will not issue any Disqualified Stock and will not permit any of its Restricted Re- stricted Subsidiaries to issue any shares of Preferred Stockpreferred stock; provided, however, that the Issuers and any Guarantor Company may Incur incur Indebtedness (including Acquired Debt) or issue Disqualified Stock, and the Company Guarantors may incur Indebtedness (including Acquired Debt) or issue shares of Disqualified Stockpreferred stock, if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred incurred or such Disqualified Dis- qualified Stock or such preferred stock is issued issued, as the case may be, would have been at least 3.0 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net cash proceeds therefrom, including the effect of acquisitions or repayments or redemptions of Indebtedness to be funded by such proceeds), as if the additional Indebtedness had been Incurred, incurred or the Disqualified Stock or the preferred stock had been issued, as the case may be, at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Intercreditor Agreement

Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock. (a) The Company will Parent shall not, and will shall not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness (including Acquired Debt) and the Company will Parent shall not issue any Disqualified Stock and will shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that the Issuers Company and any Guarantor may Incur Indebtedness (including Acquired Debt) and the Company Parent may issue shares of Disqualified Stock, if the Fixed Charge Coverage Ratio for the CompanyParent’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred or such Disqualified Stock is issued would have been at least 3.0 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net cash proceeds therefrom, including the effect of acquisitions or repayments or redemptions of Indebtedness to be funded by such proceeds), as if the additional Indebtedness had been Incurred, or the Disqualified Stock had been issued, as the case may be, at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Intercreditor Agreement (Thermon Holding Corp.)

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Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock. (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness (including Acquired Debt) and the Company will not issue any Disqualified Stock and will not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that the Issuers Company and any Guarantor may Incur Indebtedness (including Acquired Debt) and the Company may issue shares of Disqualified Stock, if the Fixed Charge Coverage Consolidated Total Leverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred or such Disqualified Stock is issued would have been at least 3.0 no greater than 3.5 to 1.0, determined on a pro forma basis (including a pro forma application of the net cash proceeds therefrom, including the effect of acquisitions or repayments or redemptions of Indebtedness to be funded by such proceeds), as if the additional Indebtedness had been Incurred, or the Disqualified Stock had been issued, as the case may be, at the beginning of such four-four quarter period.

Appears in 1 contract

Samples: Indenture (CURO Group Holdings Corp.)

Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock. (a) The Company From and after the Escrow Release Date, the Issuer will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt) ), and the Company Issuer will not issue any Disqualified Stock and will not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stockpreferred stock; provided, however, that the Issuers and Issuer or any Guarantor Restricted Subsidiary may Incur incur Indebtedness (including Acquired Debt) and the Company may or issue shares of Disqualified StockStock or preferred stock, if the Fixed Charge Coverage Ratio for the CompanyIssuer’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred incurred or such Disqualified Stock or such preferred stock is issued issued, as the case may be, would have been at least 3.0 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net cash proceeds therefrom, including the effect of acquisitions or repayments or redemptions of Indebtedness to be funded by such proceeds), as if the additional Indebtedness had been Incurred, incurred or the Disqualified Stock or the preferred stock had been issued, as the case may be, at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Senior Notes Indenture (ModivCare Inc)

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