Limitation on Borrowing. The borrowings, other than credit transactions on open account customary in the industry to obtain goods and services, shall be subject to the following limitations:
Limitation on Borrowing. The Borrower, the Agent and the Lenders hereby agree that, notwithstanding anything to the contrary in the Loan Agreement, the Lenders shall have no obligation to make Advances under the Loan Agreement to the extent they would cause the aggregate amount of Advances plus the outstanding balance of all undrawn or unreimbursed Letters of Credit to exceed $32,500,000.
Limitation on Borrowing. Partnership borrowings, other than credit transactions on open account customary in the industry to obtain goods and services, shall be subject to the following limitations:
Limitation on Borrowing. The Issuer shall not incur any indebtedness (aside from the Notes) other than obligations described in Sections 3.10 or 9.08 hereof or elsewhere herein and expenses incidental thereto. In particular, the Issuer shall not guarantee or become obligated for the debts of any Person or hold out its credit as being available to satisfy the obligations of any Person, shall not pledge its assets for the benefit of any Person or make any loans or advances to any Person, and shall not acquire direct obligations or securities of its Affiliates. The Issuer shall notify the Rating Agency when it intends to incur an indebtedness pursuant to this Section 9.09. The Issuer shall not issue any new indebtedness secured by the Collateral, and shall not incur any indebtedness other than the Notes without (i) receiving written confirmation from the Rating Agency that such issuance will not result in any withdrawal or downgrading of its rating then assigned to any Class of Notes, and (ii) receiving an Opinion of Counsel that such issuance will not cause the Issuer to be taxable as a corporation or a taxable mortgage pool.
Limitation on Borrowing. Except as contemplated by Section 9.12 hereof, the Depositor shall not incur, assume or guarantee any indebtedness of any Person, except for indebtedness that: (i) by its terms is completely subordinated to indebtedness of the Depositor; (ii) is non-recourse other than with respect to proceeds in excess of the proceeds necessary to pay the Bonds of any Series; (iii) does not constitute a claim against the Depositor to the extent that such excess proceeds are insufficient to pay such debt; (iv) by its terms provides that the holder thereof may not cause the filing of a petition in bankruptcy or take any similar action against the Depositor until at least 121 days after all indebtedness represented by each Outstanding Bond is paid in full; and (v) will not adversely affect or result in a withdrawal of the rating of the Bonds by any Rating Agency.
Limitation on Borrowing. Borrower shall not incur, create, assume or permit to exist any Debt or liability on account of deposits or advances or any indebtedness or liability for borrowed money, or any indebtedness or liability evidenced by any notes, bonds, debentures, or similar obligations, including leases, except (a) Debt to Lender; (b) Debt existing as of the date of the closing of the Revolving Credit Loans and approved in writing by Lender; (c) Debt the terms and conditions of which have been approved in writing by Lender, and which Debt is subordinated, if required by Lender, to the prior payment of all amounts due under the Revolving Credit Note and this Agreement; and (d) trade obligations incurred by Borrower in the ordinary course of business.
Limitation on Borrowing. Borrower shall not incur, create, assume or permit to exist any Debt or liability on account of deposits or advances or any indebtedness or liability for borrowed money, or any indebtedness or liability evidenced by any notes, bonds, debentures, or similar obligations, including leases, except (a) Debt to Lender; (b) Debt existing as of the date of the closing of the Revolving Credit Loans and approved in writing by Lender;
Limitation on Borrowing. In addition to the other limitations set forth in the Credit Agreement, from the date hereof until February 28, 2018, the Company shall not cause or permit the sum of the outstanding Advances and Letter of Credit Usage to at any time exceed Two Million Dollars ($2,000,000).
Limitation on Borrowing. The Partnership does not intend to employ leverage or borrow money other than on a short-term basis pending drawdowns of capital commitments.
Limitation on Borrowing. The principal amount of the Term Loan shall not exceed eighty percent (80%) of the orderly liquidation value of the equipment of Borrowers in existence as of the date of this Agreement, as determined by Bank on the basis of such appraisal as Bank may require.
