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)
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)
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