Limitation on Additional Debt. During the period in which the Holder together with its Affiliates continues to hold the Minimum Threshold:
(A) issue or permit any Subsidiary to issue guarantees of any indebtedness of any other person;
(B) issue or incur any indebtedness ranking senior to or pari passu with the Convertible Notes, other than any indebtedness incurred in connection with the refinancing or repayment of indebtedness in existence as at the date hereof (provided that the amount of any such indebtedness issued in connection with such refinancing or repayment shall not exceed the amount of the indebtedness being refinanced or repaid); or
(C) permit any subsidiary to issue or incur any indebtedness, other than any indebtedness incurred in connection with the refinancing or repayment of indebtedness in existence as at the date hereof (provided that the amount of any such indebtedness issued in connection with such refinancing or repayment shall not exceed the amount of the indebtedness being refinanced or repaid); provided that notwithstanding the foregoing the Company and its Subsidiaries may issue or incur indebtedness constituted of (x) Successor Debentures and (y) the unutilized portion (as measured on the date hereof) of any lines of credit or existing credit facilities, bankers acceptances, letters of credit, hedging agreements, credit cards, leases and similar indebtedness (including any such facilities or indebtedness assumed by the Company as part of the Merger) and (z) other indebtedness, which if such indebtedness is issued by the Company must rank pari passu with or junior to the Convertible Notes; and provided, further, that the total amount of the indebtedness collectively referred to in (y) and (z) above (including principal and accrued interest thereon and whether issued by the Company or any Subsidiary thereof) shall not exceed, at any point in time following its issuance or incurrence, $3,270,000. For purposes of calculating such $3,270,000 amount, in the event that any such additional incurred indebtedness is denominated in a currency other than U.S. dollars the foreign exchange rate to be used in determining such amount shall be the rate in effect as at the original date of this Agreement.
Limitation on Additional Debt. The Borrower will not issue and/or incur any additional Debt payable from or secured by the Collateral without the prior written consent of the Lender.
Limitation on Additional Debt. Until the full principal amount of the Surplus Notes and any interest incurred thereon has been paid to the Holders, the Issuer shall not issue any debt obligations (i) to which the Surplus Notes would be subordinated or with which they would rank pari passu or (ii) the principal of which is payable, in whole or in part, prior to the payment in full of the principal of the Surplus Notes and interest incurred thereon.
Limitation on Additional Debt. The City will not incur any obligation or liability (including Indebtedness) after the date hereof that is a charge, Lien or encumbrance upon the General Airport Revenues unless the City provides the Bank with a certificate of an Authorized Representative to the effect (and containing supporting calculations) that (i) projected Net General Airport Revenues plus Other Available Funds shall at all times exceed (A)
Limitation on Additional Debt. The City will not incur any obligation or liability (including Indebtedness) after the date hereof that is a charge, Lien or encumbrance upon the General Airport Revenues unless the City provides the Bank with a certificate of an Authorized Representative to the effect (and containing supporting calculations) that
(i) projected Net General Airport Revenues plus Other Available Funds shall at all times exceed (A) 1.25 times Debt Service with respect to Senior Lien Parity Debt, (B) 1.20 times Debt Service with respect to Senior and Parity Lien Debt and (C) 1.0 times Debt Service with respect to Senior and Parity Lien Debt and Junior Lien Debt and (ii) projected Net General Airport Revenues plus Other Available Funds (excluding the Rolling Coverage Amount from Other Available Funds) shall at all times exceed 1.0 times Debt Service with respect to Senior and Parity Lien Debt, in each case, for each of the three complete Fiscal Years immediately following the incurrence of such obligation or liability. Notwithstanding the foregoing, the City will issue no additional Indebtedness which is to be secured by General Airport Revenues while a Term Loan is outstanding unless all outstanding Term Loans are to paid in full from the proceeds of such additional Indebtedness.
Limitation on Additional Debt. The City will not issue or incur additional Revenue Obligations (other than for refunding purposes) unless (a) the conditions set forth in applicable Junior Lien Revenue Obligation Documents, Senior Lien Revenue Obligation Documents and the documents providing for all Junior Subordinate Lien Revenue Obligations are satisfied (subject to the additional requirement that Junior Subordinate Lien Revenues, subject to adjustment as permitted therein, for the most recently completed Fiscal Year for which Audited Financial Statements are available, were equal to at least 110% of Maximum Annual Junior Subordinate Lien Debt Service, including the debt service requirements for the Revenue Obligations proposed to be issued), (b) the conditions set forth in Sections 4.3 and 4.5 of the 2021 City Purchase Agreement are satisfied (and such provisions are incorporated herein by reference, mutatis mutandis, and shall be deemed to continue in effect for the benefit of the Bank as in effect on the Closing Date, whether or not said provisions otherwise remain in effect or are amended, waived or modified), and (c) if the proposed Revenue Obligations are not Series Revolving Credit Revenue Obligations, the City determines that Series Revolving Credit Revenue Obligations could have been issued under the additional indebtedness tests described above in addition to the proposed Revenue Obligations, in an amount sufficient to pay when due all principal of and interest on the Outstanding Amount of Revolving Loans and Maturity Loans at maturity. The City represents and covenants that execution and delivery of the Revolving Credit Agreement Obligations in an aggregate principal amount of not less than $200,000,000 has been duly authorized by the Ordinance. Upon execution and delivery of the Series Revolving Credit Agreement Obligations, a portion of the proceeds thereof will be applied and pledged to the extent necessary to pay the principal amount of all Obligations, which pledge shall be prior to any pledge of such amounts to payment of Revenue Obligations.
Limitation on Additional Debt. No Borrower will create, assume, incur or suffer to exist any Liabilities other than
(a) the Obligations; and
(b) trade payables and accrued expenses, each arising in the ordinary course of business.
Limitation on Additional Debt. 46 SECTION 4.07
Limitation on Additional Debt. Borrower shall not incur any Debt other than (i) Permitted Debt or (ii) Debt incurred under the Senior Secured Credit Facility. For purposes of this SECTION 9.18, Debt shall only include the obligations listed in clauses (i) through (v), (vii), and (ix) through (xi) of the definition of Debt in SECTION 1.02.
Limitation on Additional Debt. The Company shall not incur any Debt other than (i) Permitted Indebtedness or (ii) Debt incurred under the Senior Secured Credit Facility. For purposes of this Section 3.22, Debt shall only include the obligations listed in clauses (a) through (e), (g), and (i) through (k) of the definition of Debt in Section 1.1.
