Common use of Limitation on Additional Debt Clause in Contracts

Limitation on Additional Debt. (a) The Company shall not, and shall not cause or permit any of its Restricted Subsidiaries to, directly or indirectly, incur any Debt (including, without limitation, any Acquired Debt), except Permitted Debt and except that, if no Default or Event of Default shall have occurred and be continuing at the time or as a consequence of the incurrence of such Debt, the Company or any Restricted Subsidiary may incur Debt (including any Acquired Debt) if the Company’s Consolidated Fixed Charge Coverage Ratio is at least 2.0 to 1. Even if the Company’s Consolidated Fixed Charge Coverage Ratio is less than 2.0 to 1, the Company and its Restricted Subsidiaries may incur Permitted Debt.

Appears in 2 contracts

Samples: Indenture (Catalyst Paper Corp), Satisfaction and Discharge (Catalyst Paper Corp)

AutoNDA by SimpleDocs

Limitation on Additional Debt. (a) The Company shall not, and shall not cause or permit any of its Restricted Subsidiaries to, directly or indirectly, incur any Debt (including, without limitation, any Acquired Debt), except Permitted Debt and except that, if no Default or Event of Default shall have occurred and be continuing at the time or as a consequence of the incurrence of such Debt, the Company or any Restricted Subsidiary may incur Debt (including any Acquired Debt) if the Company’s 's Consolidated Fixed Charge Coverage Ratio is at least 2.0 to 1. Even if the Company’s 's Consolidated Fixed Charge Coverage Ratio is less than 2.0 to 1, the Company and its Restricted Subsidiaries may incur Permitted Debt.

Appears in 2 contracts

Samples: Indenture (Norske Skog Canada LTD), Indenture (Norske Skog Canada LTD)

Limitation on Additional Debt. (a) The Company shall not, and shall not cause or permit any of its Restricted Subsidiaries to, directly or indirectly, incur any Debt (including, without limitation, any Acquired Debt), except (i) Permitted Debt and except that, if (ii) provided that no Default or Event of Default shall have occurred and be continuing at the time or as a consequence of the incurrence of such Debt, the Company or any Restricted Subsidiary Guarantor may incur Debt (including any Acquired Debt) if the Company’s 's Consolidated Fixed Charge Coverage Ratio is at least 2.0 to 11.0. Even if the Company’s 's Consolidated Fixed Charge Coverage Ratio is less than 2.0 to 11.0, the Company and its Restricted Subsidiaries may incur Permitted Debt.

Appears in 2 contracts

Samples: Article Ix (Catalyst Paper Corp), Article Ix (Catalyst Paper Corp)

AutoNDA by SimpleDocs

Limitation on Additional Debt. (a) The Company shall not, and shall not cause or permit any of its Restricted Subsidiaries to, directly or indirectly, incur any Debt (including, without limitation, any Acquired Debt), except (i) Permitted Debt and except that, if (ii) provided that no Default or Event of Default shall have occurred and be continuing at the time or as a consequence of the incurrence of such Debt, the Company or any Restricted Subsidiary Guarantor may incur Debt (including any Acquired Debt) if the Company’s Consolidated Fixed Charge Coverage Ratio is at least 2.0 to 11.0. Even if the Company’s Consolidated Fixed Charge Coverage Ratio is less than 2.0 to 11.0, the Company and its Restricted Subsidiaries may incur Permitted Debt.

Appears in 1 contract

Samples: Indenture (Catalyst Paper General Partnership)

Time is Money Join Law Insider Premium to draft better contracts faster.