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

Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, 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 Issuer will not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that the Issuer or any Subsidiary Guarantor may incur Indebtedness (including Acquired Debt) (which may be guaranteed by any Subsidiary Guarantor) if the Debt to Adjusted Cash EBITDA Ratio for the Issuer’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 would be less than or equal to 4.50 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred and the application of proceeds therefrom had occurred at the beginning of such four-quarter period.

Appears in 3 contracts

Samples: Registration Rights Agreement (GeoEye, Inc.), Indenture (GeoEye, Inc.), Indenture (GeoEye, Inc.)

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Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, 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 Issuer will not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that the Issuer or any Subsidiary Guarantor may incur Indebtedness (including Acquired Debt) (which may be guaranteed by any Subsidiary Guarantor) if the Debt to Adjusted Cash EBITDA Ratio for the Issuer’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 would be less than or equal to 4.50 5.50 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred and the application of proceeds therefrom had occurred at the beginning of such four-quarter period.

Appears in 2 contracts

Samples: Indenture (GeoEye, Inc.), Indenture (GeoEye License Corp.)

Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer will Company shall not, and will shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise guarantee, acquire, become directly or indirectly liable, contingently or otherwise, with respect to to, or otherwise become responsible for payment of (collectively, “incur”) any Indebtedness (including Acquired Debt), Indebtedness) and the Issuer will Company shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that the Issuer or any Subsidiary Guarantor and the Guarantors may incur Indebtedness (including including, without limitation, Acquired DebtIndebtedness) (which or issue Preferred Stock and any Restricted Subsidiary may be guaranteed by any Subsidiary Guarantor) incur Acquired Indebtedness if the Debt to Adjusted Cash EBITDA Ratio for the Issuer’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding on the date on which of the incurrence of such additional Indebtedness is incurred or the issuance of such Preferred Stock, after giving effect to the incurrence or issuance thereof, the Consolidated Leverage Ratio of the Company would be less than 4.5 to 1.0 if such incurrence is on or equal prior to 4.50 December 23, 2006, and less than 4.0 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as 1.0 if the additional Indebtedness had been incurred and the application of proceeds therefrom had occurred at the beginning of such four-quarter periodincurrence is after such date.

Appears in 2 contracts

Samples: Global Crossing Uk Telecommunications LTD, Global Crossing LTD

Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, 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 Issuer Company 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, provided that the Issuer or Company and any Subsidiary Guarantor may incur Indebtedness (including Acquired Debt) (which ), and the Company may be guaranteed by any Subsidiary Guarantor) issue Disqualified Stock, if the Debt to Adjusted Cash EBITDA Fixed Charge Coverage Ratio for the Issuer’s 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 be less than or equal have been at least 2.0 to 4.50 to 1.001, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred and incurred, or the application of proceeds therefrom Disqualified Stock had occurred been issued, as the case may be, at the beginning of such four-quarter period.

Appears in 2 contracts

Samples: Supplemental Indenture (Holley Performance Products Inc), Indenture (Holley Performance Products Inc)

Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, 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 Issuer Company 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 Issuer or Company and any Subsidiary Guarantor may incur Indebtedness (including Acquired Debt) (which and the Company may be guaranteed by any Subsidiary Guarantor) issue Disqualified Stock if the Debt to Adjusted Cash EBITDA Fixed Charge Coverage Ratio for the IssuerCompany’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 be less than or equal have been at least 2.0 to 4.50 to 1.001, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred and or the application of proceeds therefrom Disqualified Stock had occurred been issued, as the case may be, at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Indenture (Pioneer Drilling Co)

Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, 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 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 Issuer or any Subsidiary Guarantor may incur Indebtedness (including Acquired Debt) (which or issue Disqualified Stock, and any Restricted Subsidiary that is a Guarantor may be guaranteed by any Subsidiary Guarantor) incur Indebtedness, if the Debt to Adjusted Cash EBITDA Consolidated Leverage Ratio for the Issuer’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding on the date on which such additional Indebtedness is incurred or such Disqualified Stock is issued would be less have been not greater than or equal 5.25 to 4.50 to 1.001.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred and the application of proceeds therefrom had occurred at the beginning of such four-quarter period.) First Supplemental Indenture

Appears in 1 contract

Samples: Indenture (Lodgenet Entertainment Corp)

Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer will shall not, and will shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee guaranty or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, "incur") any Indebtedness (including Acquired Debt), ) and that the 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 Issuer or any Subsidiary Guarantor may incur Indebtedness (including Acquired Debt) (which may be guaranteed by any Subsidiary Guarantor) if the Debt to Adjusted Cash EBITDA Fixed Charge Coverage Ratio for the Issuer’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 would be less than or equal have been at least (i) 2.0 to 4.50 1.0 in the case of Indebtedness incurred prior to 1.00September 1, determined on a pro forma basis 1998 and (including a pro forma application ii) 2.25 to 1.0 in the case of the net proceeds therefrom), as if the additional Indebtedness had been incurred and the application of proceeds therefrom had occurred at the beginning of such four-quarter period.thereafter,

Appears in 1 contract

Samples: Indenture (Shop Vac Corp)

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Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, createCreate, 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 Issuer will Borrower shall not issue any Disqualified Stock and shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stockpreferred stock; provided, however, that the Issuer or any Subsidiary Guarantor Borrower may incur Indebtedness (including Acquired Debt) (which may be guaranteed by or issue Disqualified Stock, and any Subsidiary Guarantormay incur Indebtedness (including Acquired Debt) or issue preferred stock if the Debt to Adjusted Cash EBITDA Fixed Charge Coverage Ratio for the IssuerBorrower’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 or preferred stock is issued would be less than or equal have been at least 2.25 to 4.50 to 1.001.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred and or Disqualified Stock or preferred stock had been issued, as the application of proceeds therefrom had occurred case may be, at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Credit Agreement (Northwestern Corp)

Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”"INCUR") any Indebtedness (including Acquired Debt), and the Issuer will not issue any Disqualified Stock and the Issuer will not permit any of its Restricted Subsidiaries to issue any shares of Preferred StockDisqualified Stock or preferred stock; providedPROVIDED, howeverHOWEVER, that the Issuer or any and the Subsidiary Guarantor Guarantors may incur Indebtedness (including Acquired Debt) (which may be guaranteed by any Subsidiary Guarantor) ), if the Debt to Adjusted Cash EBITDA Fixed Charge Coverage Ratio for the Issuer’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 would be less than or equal have been at least 2.0 to 4.50 to 1.001, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred and the application of proceeds therefrom had occurred at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Indenture (Digitalnet Holdings Inc)

Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer will not, and will not permit any of its Restricted Subsidiaries Subsidiary to, incur, directly or indirectly, 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 Issuer will not permit any of its Restricted Subsidiaries to issue any shares of Preferred StockIndebtedness; provided, however, provided that the Issuer or any Restricted Subsidiary Guarantor may incur Indebtedness if, immediately after giving effect to such incurrence, the Consolidated Coverage Ratio is at least 2.0 to 1.0 (including Acquired Debt) (which may be guaranteed by any Subsidiary Guarantor) if the Debt to Adjusted Cash EBITDA Ratio for the Issuer’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 would be less than or equal to 4.50 to 1.00, determined on a pro forma basis (basis, including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred incurred, and the application of the proceeds therefrom had occurred occurred, at the beginning of such the applicable four-quarter period), so long as the aggregate Indebtedness incurred pursuant to this proviso by Restricted Subsidiaries that are not Subsidiary Guarantors (other than Indebtedness owed by the Issuer or any Restricted Subsidiary to the Issuer or any Restricted Subsidiary on terms set forth in clause (5) of the definition of Permitted Indebtedness) does not exceed $75.0 million at any one time outstanding (this proviso, the “Coverage Ratio Exception”).

Appears in 1 contract

Samples: Supplemental Indenture (Koppers Holdings Inc.)

Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer will Company shall not, and will shall not permit any of its Restricted Subsidiaries to, directly or indirectly, 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 Issuer will shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stockpreferred stock; provided, however, that the Issuer or any Issuers and the Subsidiary Guarantor Guarantors may incur Indebtedness (including Acquired Debt) or issue shares of preferred stock, if, after giving effect thereto and the application of the proceeds therefrom, either (which may be guaranteed by any Subsidiary Guarantori) if the Debt to Adjusted Cash EBITDA Fixed Charge Coverage Ratio for the IssuerCompany’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 preferred stock is issued, as the case may be, would be have been at least 2.0 to 1.0, or (ii) the Indebtedness to Tangible Net Worth Ratio as of the end of the Company’s most recently ended fiscal quarter for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such preferred stock is issued, as the case may be, would have been less than or equal to 4.50 2.25 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred and the application of proceeds therefrom had occurred at the beginning of such four-quarter period1.0.

Appears in 1 contract

Samples: Indenture (Brookfield Residential Properties Inc.)

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