Common use of Indebtedness and Guaranty Obligations Clause in Contracts

Indebtedness and Guaranty Obligations. Create, incur or assume any Indebtedness or Guaranty Obligation if an Event of Default has occurred and is continuing or if, after giving effect thereto, Borrower would not be in compliance with the provisions of Section 6.12 or Section 6.13 or an Event of Default would otherwise occur. Notwithstanding the foregoing, Borrower shall not permit any Subsidiary to create, incur, assume or suffer to exist any Indebtedness or Guaranty Obligation, except (a) Permitted Acquisition Indebtedness, (b) Permitted Capital Asset Indebtedness, (c) existing Indebtedness set forth on Schedule 6.10(b), (d) Indebtedness owed to Borrower or a wholly-owned Subsidiary, (e) unsecured term Indebtedness (i.e., not revolving credit) that (i) either has a longer weighted average life than the Borrowings hereunder or satisfies the requirements of Section 6.1, (ii) to the extent that a Governmental Agency has regulatory jurisdiction over the issuance of such Indebtedness of such Subsidiary, the issuance of such Indebtedness is permitted by such regulatory jurisdiction, (iii) is incurred in the ordinary course of business of such Subsidiary and is substantially consistent with the prior practices of SCW, and (iv) is provided by any Person or Governmental Agency, other than a commercial bank under a credit agreement or facility substantially similar thereto, and (f) other unsecured Indebtedness in the aggregate principal amount not to exceed $1,000,000.

Indebtedness and Guaranty Obligations. Create, incur or assume any Indebtedness or Guaranty Obligation if an Event of Default has occurred and is continuing or if, after giving effect thereto, Borrower would not be in compliance with the provisions of Section 6.12 or Section 6.13 or an Event of Default would otherwise occur. Notwithstanding the foregoing, Borrower shall not permit any Subsidiary to create, incur, assume or suffer permit to exist any Indebtedness or Guaranty Obligation, except except: (ai) Permitted Acquisition Indebtedness, , (bii) Permitted Capital Asset Indebtedness, , (ciii) existing Indebtedness set forth on Schedule 6.10(b), , (div) Indebtedness owed to Borrower or a wholly-owned Subsidiary, , (ev) unsecured term Indebtedness of GSW (i.e., not revolving credit) that (i) either has a longer weighted average life than the Borrowings hereunder or satisfies the requirements of Section 6.1, (ii) to the extent that a Governmental Agency has regulatory jurisdiction over the issuance of such Indebtedness of such SubsidiaryGSW, the issuance of such Indebtedness is permitted by such regulatory jurisdiction, and (iii) is incurred in the ordinary course of business of such Subsidiary and GSW, is substantially consistent with the prior practices of SCWGSW, and (iv) is provided by any Person or Governmental Agency, other than a commercial bank Agency under a credit agreement or facility substantially similar thereto, (vi) unsecured Indebtedness of BVES that (i) BVES is permitted to incur by the Governmental Agency or Agencies, as applicable, having regulatory jurisdiction over BVES, (ii) is incurred in the ordinary course of business of BVES, and (iii) does not exceed at any time outstanding an aggregate amount of $125,000,000 (and for purposes of computing compliance with the foregoing, all then undrawn commitments under any revolving credit facility shall be deemed incurred and outstanding Indebtedness); provided, however, that in no event shall the aggregate amount of Indebtedness incurred pursuant to this subsection (f) exceed at any time outstanding ten percent (10%) of Consolidated Net Tangible Assets, and (vii) other unsecured Indebtedness in the aggregate principal amount not to exceed $1,000,000.

Indebtedness and Guaranty Obligations. Create, incur or assume any Indebtedness or Guaranty Obligation if an Event of Default has occurred and is continuing or if, after giving effect thereto, Borrower would not be in compliance with the provisions of Section 6.12 or Section 6.13 or an Event of Default would otherwise occur. Notwithstanding the foregoing, Borrower shall not permit any Subsidiary to create, incur, assume or suffer to exist any Indebtedness or Guaranty Obligation, except (a) Permitted Acquisition Indebtedness, (b) Permitted Capital Asset Indebtedness, (c) existing Indebtedness set forth on Schedule 6.10(b), (d) Indebtedness owed to Borrower or a wholly-owned Subsidiary, (e) unsecured term Indebtedness (i.e., not revolving credit) that (i) either has a longer weighted average life than the Borrowings hereunder or satisfies the requirements of Section 6.1, . (ii) to the extent that a Governmental Agency has regulatory jurisdiction over the issuance of such Indebtedness of such Subsidiary, the issuance of such Indebtedness is permitted by such regulatory jurisdiction, (iii) is incurred in the ordinary course of business of such Subsidiary and is substantially consistent with the prior practices of SCW, and (iv) is provided by any Person or Governmental Agency, other than a commercial bank under a credit agreement or facility substantially similar thereto, and (f) other unsecured Indebtedness in the aggregate principal amount not to exceed $1,000,000.