Common use of Limitation on Contingent Obligations Clause in Contracts

Limitation on Contingent Obligations. Create, incur, assume or suffer to exist any Contingent Obligation except: (a) guarantees of obligations to third parties made in the ordinary course of business in connection with relocation of employees of the Company or any of its Subsidiaries; (b) guarantees by the Company and its Subsidiaries incurred in the ordinary course of business for an aggregate amount not to exceed $75,000,000 at any one time; provided, however, that any such guarantee granted by a Subsidiary shall only be given in accordance with Section 9.15 hereof; (c) Contingent Obligations existing on the Existing Credit Agreement Effective Date and described in Schedule 9.4 including any extensions or renewals thereof; (d) Contingent Obligations in respect of derivative contracts; (e) Contingent Obligations pursuant to the Credit Documents; (f) guarantees by the Company of (i) Indebtedness of its Subsidiaries permitted under Section 9.2(g) and (ii) other obligations of Subsidiaries not prohibited hereunder; and (g) guarantees by any Subsidiary of Indebtedness and other obligations of the Company or any Subsidiary; provided that the Indebtedness or obligations so guaranteed is either permitted pursuant to Section 9.2 or not prohibited hereunder; and provided further that any such guarantees shall only be given in accordance with Section 9.15 hereof.

Appears in 2 contracts

Samples: Credit Agreement (Be Aerospace Inc), Credit Agreement (Be Aerospace Inc)

AutoNDA by SimpleDocs

Limitation on Contingent Obligations. Create, incur, assume or suffer to exist any Contingent Obligation except: (a) Contingent Obligations in existence on the date hereof and listed on Schedule 8.3; (b) guarantees of obligations to third parties made in the ordinary course of business in connection with relocation of employees of the Company or any of its Subsidiaries; (b) guarantees by the Company and its Subsidiaries incurred in the ordinary course of business connection with employee relocation, travel and entertainment for an aggregate amount not to exceed $75,000,000 1,000,000 at any one time; provided, however, that any such guarantee granted by a Subsidiary shall only be given in accordance with Section 9.15 hereoftime outstanding; (c) Contingent Obligations existing on in respect of Indebtedness permitted under subsection 8.1(c) in a maximum aggregate amount outstanding at any time, when added (without duplication) to the Existing Credit Agreement Effective Date and described in Schedule 9.4 including any extensions or renewals thereof;aggregate amount of Indebtedness permitted under subsection 8.1(c) outstanding at such time, not to exceed $60,000,000. (d) Contingent Obligations in respect of derivative contractsto the extent arising from or constituted by foreign currency exchange contracts permitted by subsection 8.13; (e) Contingent Obligations pursuant to the Credit Documents;Subsidiary Guarantees; and (f) (i) guarantees by the Company or any Subsidiary Guarantor of (i) Indebtedness of its Subsidiaries permitted under Section 9.2(g) and (ii) subsection 8.1 or other obligations of Subsidiaries not prohibited hereunder; and (g) guarantees by any Subsidiary of Indebtedness and other obligations permitted hereunder of the Company or any Subsidiary; provided Subsidiary Guarantor and (ii) guarantees by the Company or any Subsidiary Guarantor of Indebtedness permitted under subsection 8.1 or other obligations permitted hereunder of any Subsidiary that is not a Subsidiary Guarantor permitted under subsection 8.1(e) subject to the Indebtedness or obligations so guaranteed is either permitted pursuant to Section 9.2 or not prohibited hereunder; and provided further that any such guarantees shall only be given limitations set forth in accordance with Section 9.15 hereofsubsection 8.6(g).

Appears in 1 contract

Samples: Credit Agreement (Gulfstream Aerospace Corp)

Limitation on Contingent Obligations. Create, incur, assume or suffer to exist any Contingent Obligation except: (a) guarantees of obligations to third parties made in the ordinary course of business in connection with relocation of employees of the Company or any of its Subsidiaries; (b) guarantees by the Company and its Subsidiaries incurred in the ordinary course of business for an aggregate amount not to exceed $75,000,000 50,000,000 at any one time; provided, however, that any such guarantee granted by a Subsidiary shall only be given in accordance with Section 9.15 hereof; (c) Contingent Obligations existing on the Existing Credit Agreement Effective Date and described in Schedule 9.4 including any extensions or renewals thereof; (d) Contingent Obligations in respect of derivative contractscontracts permitted by Section 9.11; (e) Contingent Obligations pursuant to the Credit Documents; (f) guarantees by the Company of (i) Indebtedness of its Subsidiaries permitted under Section 9.2(g) and (ii) other obligations of Subsidiaries not prohibited hereunder; and (g) guarantees by any Subsidiary of Indebtedness and other obligations of the Company or any Subsidiary; provided that the Indebtedness or obligations so guaranteed is either permitted pursuant to Section 9.2 or not prohibited hereunder; and provided further that any such guarantees shall only be given in accordance with Section 9.15 hereof.

Appears in 1 contract

Samples: Credit Agreement (Be Aerospace Inc)

Limitation on Contingent Obligations. Create, incur, assume or suffer to exist any Contingent Obligation except: (a) guarantees of obligations to third parties made in the ordinary course of business in connection with relocation of employees of the Company or any of its Subsidiaries; (b) guarantees by the Company and its Subsidiaries incurred in the ordinary course of business for an aggregate amount not to exceed $75,000,000 35,000,000 at any one time; provided, however, that any such guarantee granted by a Subsidiary shall only be given in accordance with Section 9.15 hereof; (c) Contingent Obligations existing on the Existing Credit Agreement Effective Closing Date and described in Schedule 9.4 including any extensions or renewals thereof; (d) Contingent Obligations in respect of derivative contractscontracts permitted by Section 9.11; (e) Contingent Obligations pursuant to the Credit Documents; (f) guarantees by the Company of (i) Indebtedness of its Subsidiaries permitted under Section 9.2(g) and (ii) other obligations of Subsidiaries not prohibited hereunder; and (g) guarantees by any Subsidiary of Indebtedness and other obligations of the Company or any Subsidiary; provided that the Indebtedness or obligations so guaranteed is either permitted pursuant to Section 9.2 or not prohibited hereunder; and provided further that any such guarantees shall only be given in accordance with Section 9.15 hereof.

Appears in 1 contract

Samples: Credit Agreement (Be Aerospace Inc)

AutoNDA by SimpleDocs

Limitation on Contingent Obligations. Create, incur, assume or suffer to exist any Contingent Obligation except: (a) guarantees of obligations to third parties made in the ordinary course of business in connection with relocation of employees of the Company or any of its Subsidiaries; (b) guarantees by the Company and its Subsidiaries incurred in the ordinary course of business for an aggregate amount not to exceed $75,000,000 20,000,000 at any one time; provided, however, that any such guarantee granted by a Subsidiary shall only be given in accordance with Section 9.15 hereof; (c) existing Contingent Obligations existing on the Existing Credit Agreement Effective Date and described in Schedule 9.4 8.4 including any extensions or renewals thereof; (d) Contingent Obligations in respect of derivative contractsderivatives contracts permitted by subsection 8.11; (e) Contingent Obligations pursuant to the Credit DocumentsGuarantee and Collateral Agreement; (f) guarantees by the Company and its Subsidiaries of (i) Indebtedness of the Company and its Subsidiaries permitted under Section 9.2(gsubsection 8.2 (other than clauses (g) and (i) thereof) and (ii) obligations (other obligations than Indebtedness) of the Company and its Subsidiaries not prohibited hereunder; provided that any guarantee by a Credit Party of Indebtedness of a Subsidiary that is not a Credit Party shall only be permitted to the extent permitted by subsection 8.7; and (g) guarantees by any Subsidiary of Indebtedness and other obligations Guarantor of the Company or obligations under (i) the Senior Notes and any Subsidiary; provided that the Indebtedness or obligations so guaranteed is either permitted pursuant to Section 9.2 or not prohibited hereunder; Permitted Refinancing thereof and provided further that (ii) any such guarantees shall only be given in accordance with Section 9.15 hereofPermitted Additional Debt and any Permitted Refinancing thereof.

Appears in 1 contract

Samples: Credit Agreement (Citadel Broadcasting Corp)

Limitation on Contingent Obligations. Create, incur, assume or suffer to exist any Contingent Obligation except: (a) Contingent Obligations in existence on the date hereof and listed on Schedule 8.3; (b) guarantees of obligations to third parties made in the ordinary course of business in connection with relocation of employees of the Company or any of its Subsidiaries; (b) guarantees by the Company and its Subsidiaries incurred in the ordinary course of business connection with employee relocation, travel and entertainment for an aggregate amount not to exceed $75,000,000 1,000,000 at any one time; provided, however, that any such guarantee granted by a Subsidiary shall only be given in accordance with Section 9.15 hereoftime outstanding; (c) Contingent Obligations existing on in respect of Indebtedness permitted under subsection 8.1(c) in a maximum aggregate amount outstanding at any time, when added (without duplication) to the Existing Credit Agreement Effective Date and described in Schedule 9.4 including any extensions or renewals thereof;aggregate amount of Indebtedness permitted under subsection 8.1(c) outstanding at such time, not to exceed $60,000,000. (d) Contingent Obligations in respect of derivative contractsto the extent arising from or constituted by foreign currency exchange contracts permitted by subsection ; (e) Contingent Obligations pursuant to the Credit Documents;Subsidiary Guarantees; and (f) (i) guarantees by the Company or any Subsidiary Guarantor of (i) Indebtedness of its Subsidiaries permitted under Section 9.2(g) and (ii) subsection 8.1 or other obligations of Subsidiaries not prohibited hereunder; and (g) guarantees by any Subsidiary of Indebtedness and other obligations permitted hereunder of the Company or any Subsidiary; provided Subsidiary Guarantor and (ii) guarantees by the Company or any Subsidiary Guarantor of Indebtedness permitted under subsection 8.1 or other obligations permitted hereunder of any Subsidiary that is not a Subsidiary Guarantor permitted under subsection 8.1(e) subject to the Indebtedness or obligations so guaranteed is either permitted pursuant to Section 9.2 or not prohibited hereunder; and provided further that any such guarantees shall only be given limitations set forth in accordance with Section 9.15 hereofsubsection 8.6(g).

Appears in 1 contract

Samples: Credit Agreement (Gulfstream Aerospace Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!