Indebtedness and Preferred Equity. The Borrower will not, and will not permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Indebtedness, except:
(a) Indebtedness created pursuant to the Loan Documents;
(b) Indebtedness of the Borrower and its Subsidiaries existing on the date hereof and set forth on Schedule 7.1 and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (immediately prior to giving effect to such extension, renewal or replacement) or shorten the maturity or the weighted average life thereof;
(c) Indebtedness of the Borrower or any of its Subsidiaries incurred to finance the acquisition, construction or improvement of any fixed or capital assets, including Capital Lease Obligations, and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof (provided that such Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such construction or improvements), and extensions, renewals or replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (immediately prior to giving effect to such extension, renewal or replacement) or shorten the maturity or the weighted average life thereof; provided that the aggregate principal amount of such Indebtedness does not exceed the Threshold Amount at any time outstanding;
(d) Indebtedness of the Borrower owing to any Subsidiary and of any Subsidiary owing to the Borrower or any other Subsidiary; provided that (i) any such Indebtedness shall be subject to Section 7.4, (ii) such Indebtedness is not is not held, assigned, transferred, negotiated or pledged to any Person other than a Loan Party, and (iii) any such Indebtedness shall be subordinated to the Obligations on terms and conditions satisfactory to the Administrative Agent;
(e) Guarantees by the Borrower of Indebtedness of any Subsidiary and by any Subsidiary Loan Party of Indebtedness of the Borrower or any other Subsidiary; provided that such Indebtedness is otherwise permitted by this Agreement;
(f) Indebtedness of the Borrower and its Subsidiaries associated with bonds or surety obligations required by Governmental Authorities in connection with the operation of the Oil and Gas Properties, including with respect to plugging, facility removal and abandonment of its Oil and Gas Properties, worker’s compensation claims, p...
Indebtedness and Preferred Equity. The Borrower will not, and will not permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Indebtedness, except:
Indebtedness and Preferred Equity. The Borrower will not, and will not permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Indebtedness, except:
(a) Indebtedness created pursuant to the Loan Documents;
(b) subject to the provisions of ARTICLE VI, Hedging Obligations permitted by Section 7.10;
(c) current liabilities of the Borrower, the Guarantors or their respective Subsidiaries incurred in the ordinary course of business but not incurred through (i) the borrowing of money, or (ii) the obtaining of credit except for credit on an open account basis customarily extended and in fact extended in connection with normal purchases of goods and services;
Indebtedness and Preferred Equity. Create, incur, assume or suffer to exist any Indebtedness, except:
(a) Indebtedness created pursuant to the Loan Documents;
(b) Indebtedness of Borrower or any Loan Party existing on the date hereof and set forth on Schedule 7.1 and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (immediately prior to giving effect to such extension, renewal or replacement) or shorten the maturity or the weighted average life thereof;
(c) Guarantees by (i) Borrower of Indebtedness of Borrower or any Loan Party and (ii) by any Loan Party of Indebtedness of Borrower or any other Loan Party;
(d) Other unsecured Indebtedness of Borrower or its Subsidiaries incurred from and after the Effective Date in an aggregate amount not to exceed $20,000,000.00 (the "Unsecured Indebtedness Cap"). For the avoidance of doubt, the Unsecured Indebtedness Cap will be in addition to any amount borrowed under the Revolving Loan, up to the maximum amount of the Revolving Loan; and
(e) The Centerbridge Permitted Refinancing Indebtedness.
Indebtedness and Preferred Equity. The Borrower will not, and will not permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Indebtedness, except:
(a) Indebtedness created pursuant to the Loan Documents;
(b) Indebtedness of the Borrower and its Subsidiaries existing on the date hereof and set forth on Schedule 7.1 and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (immediately prior to giving effect to such extension, renewal or replacement) or shorten the maturity or the weighted average life thereof;
Indebtedness and Preferred Equity. Section 7.2. Negative Pledge
Indebtedness and Preferred Equity. 54 SECTION 7.2. NEGATIVE PLEDGE.............................................. 56 SECTION 7.3. FUNDAMENTAL CHANGES.......................................... 56 SECTION 7.4. INVESTMENTS, LOANS, ETC...................................... 57 SECTION 7.5. RESTRICTED PAYMENTS.......................................... 58 SECTION 7.6.
Indebtedness and Preferred Equity. (a) No Borrower will, nor will any Borrower permit any Restricted Subsidiary to, create, incur, assume or suffer to exist any Indebtedness (other than Indebtedness incurred by a Borrower and owing to another Borrower or a Subsidiary Loan Party or Indebtedness of any Subsidiary to a Borrower or to another Subsidiary Loan Party of the Borrowers), if, after giving effect thereto, an Event of Default would occur and be continuing.
(b) No Borrower will, nor will any Borrower permit any Restricted Subsidiary to, issue any preferred stock or other preferred equity interests that (i) matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise, (ii) is or may become redeemable or repurchaseable by any Borrower or such Restricted Subsidiary at the option of the holder thereof, in whole or in part or (iii) is convertible or exchangeable at the option of the holder thereof for Indebtedness or preferred stock or any other preferred equity interests described in this paragraph, on or prior to, in the case of clause (i), (ii) or (iii), the first anniversary of the Revolving Commitment Termination Date.
Indebtedness and Preferred Equity. 54 SECTION 7.2. NEGATIVE PLEDGE...............................................................55 SECTION 7.3. FUNDAMENTAL CHANGES...........................................................56 SECTION 7.4. INVESTMENTS, LOANS, ETC.......................................................56 SECTION 7.5. RESTRICTED PAYMENTS...........................................................57 SECTION 7.6. SALE OF ASSETS................................................................58 SECTION 7.7. TRANSACTIONS WITH AFFILIATES..................................................58 SECTION 7.8. RESTRICTIVE AGREEMENTS........................................................58 SECTION 7.9. SALE AND LEASEBACK TRANSACTIONS...............................................59 SECTION 7.10. HEDGING TRANSACTIONS..........................................................59 SECTION 7.11. FISCAL YEAR...................................................................59 SECTION 7.12.
Indebtedness and Preferred Equity. Clauses (c), (f) and (i) of Section 7.1 of the Credit Agreement are amended in their respective entireties to read as follows:
