Investments in Highway Holdings Sample Clauses

Investments in Highway Holdings. Until the fifth (5th) anniversary of the disbursement of the CDPQ Loan, SNC and its Subsidiaries will limit their investments (by way of Capital Stock or loans) in Highway Holdings to the equity of Highway Holdings on the date hereof, provided for greater certainty that this covenant will not apply to payments made from time to time to Highway Holdings under the intercompany loan to be made by Highway Holding with the proceeds of the CDPQ Loan. After the fifth (5th) anniversary of the disbursement of the CDPQ Loan, additional investments may only be made if the Net Recourse Debt to EBITDA ratio of SNC, calculated after giving effect to any such investment, would be less than 1.25:1.00.
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Related to Investments in Highway Holdings

  • Investments Make any Investments, except:

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  • Mergers, Reorganizations and Equity Transfers Each of the Company and any Sponsor Affiliates acknowledges that any mergers, reorganizations or consolidations of the Company and such Sponsor Affiliates may cause the Project to become ineligible for negotiated fees in lieu of taxes under the FILOT Act absent compliance by the Company and such Sponsor Affiliates with the Transfer Provisions; provided that, to the extent provided by Section 12-44- 120 of the FILOT Act or any successor provision, any financing arrangements entered into by the Company or any Sponsor Affiliates with respect to the Project and any security interests granted by the Company or any Sponsor Affiliates in connection therewith shall not be construed as a transfer for purposes of the Transfer Provisions. Notwithstanding anything in this Fee Agreement to the contrary, it is not intended in this Fee Agreement that the County shall impose transfer restrictions with respect to the Company, any Sponsor Affiliates or the Project as are any more restrictive than the Transfer Provisions.

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