Common use of Limitation on Debt and Contingent Indebtedness Clause in Contracts

Limitation on Debt and Contingent Indebtedness. At no time shall the Seller or any Subsidiary incur, create, contract, assume, have outstanding, guarantee or otherwise be or become, directly or indirectly, liable in respect of any Debt or Contingent Indebtedness except: (a) the Obligations; (b) trade debt (including, without limitation, trade debt for services provided by an Affiliate), equipment leases, loans for the purchase of equipment used in the ordinary course of the Seller’s business and indebtedness for taxes and assessments not yet due and payable owed in the ordinary course of business; (c) with the prior written consent of the Buyer (which consent shall not be unreasonably withheld, delayed or conditioned upon fees), Debt under a mortgage warehousing facility, mortgage repurchase facility or off-balance sheet indebtedness under another financing arrangement, provided that the Buyer serves as collateral agent for such financing arrangement; (d) liabilities to the Parent or other Affiliates incurred in the ordinary course of business as currently conducted; Debt in respect of any exchange traded or over the counter derivative transaction or any Hedge Agreement entered into in the ordinary course of business and not for speculative purposes; (e) Qualified Subordinated Debt; and (f) other Debt not in excess of Five Hundred Thousand Dollars ($500,000) in the aggregate at any time.

Limitation on Debt and Contingent Indebtedness. At no time shall the Seller or any Subsidiary incur, create, contract, assume, have outstanding, guarantee or otherwise be or become, directly or indirectly, liable in respect of any Debt or Contingent Indebtedness except: (a) the Obligations; (b) trade debt (including, without limitation, trade debt for services provided by an Affiliate), equipment leases, loans for the purchase of equipment used in the ordinary course of the Seller’s business and indebtedness for taxes and assessments not yet due and payable owed in the ordinary course of business; (c) with the prior written consent of the Buyer Required Buyers (which consent shall not be unreasonably withheld, delayed or conditioned upon fees), Debt under a mortgage warehousing facility, mortgage repurchase facility or off-balance sheet indebtedness under another financing arrangement, provided that the Buyer Agent serves as collateral agent for such financing arrangement; (d) liabilities to the Parent or other Affiliates incurred in the ordinary course of business as currently conducted; Debt and (e) liabilities (other than for borrowed money or the equivalent) incurred in respect the ordinary course of any exchange traded or over the counter derivative transaction or any business; including, without limitation, liabilities under Hedge Agreement Agreements entered into in the ordinary course of business and not for speculative purposes; (e) Qualified Subordinated Debt; and (f) other Debt not in excess of Five Hundred Thousand Dollars ($500,000) in the aggregate at any time.

Limitation on Debt and Contingent Indebtedness. At no time shall the Seller or any Subsidiary incur, create, contract, assume, have outstanding, guarantee or otherwise be or become, directly or indirectly, liable in respect of any Debt or Contingent Indebtedness except: : (a) the Obligations; ; (b) trade debt (including, without limitation, trade debt for services provided by an Affiliate), equipment leases, loans for the purchase of equipment used in the ordinary course of the Seller’s business and other accounts payable and accruals arising in the ordinary course of the Seller’s business and indebtedness for taxes and assessments not yet due and payable owed in the ordinary course of business; ; (c) with the prior written consent of the Buyer (which consent shall not be unreasonably withheld, delayed or conditioned upon fees), Debt under a the Parent Repurchase Agreement; (d) Debt under mortgage warehousing facilityfacilities, mortgage repurchase facility facilities or off-balance sheet indebtedness under another other financing arrangementarrangements, provided that other than under the Buyer serves as collateral agent for such financing arrangement; Parent Repurchase Agreement or this Agreement, in an aggregate amount at any one time not to exceed One Hundred Fifty Million Dollars (d$150,000,000); (e) liabilities to its Affiliates (including without limitation obligations to remit loan proceeds to the Parent or other its Affiliates arising out of a sale of homes by Parent or such Affiliate financed by the Seller) incurred in the ordinary course of business as currently conducted; Debt in respect of any exchange traded or over the counter derivative transaction or any Hedge Agreement entered into in the ordinary course of business and not for speculative purposes; (e) Qualified Subordinated Debt; and (f) other Debt not in excess of Five Hundred Thousand Dollars ($500,000) in the aggregate at any time.

Limitation on Debt and Contingent Indebtedness. At no time shall the Seller or any Subsidiary incur, create, contract, assume, have outstanding, guarantee or otherwise be or become, directly or indirectly, liable in respect of any Debt or Contingent Indebtedness except: (a) the Obligations; (b) trade debt (including, without limitation, trade debt for services provided by an Affiliate), equipment leases, loans for the purchase of equipment used in the ordinary course of the Seller’s business and indebtedness for taxes and assessments not yet due and payable owed in the ordinary course of business; (c) with the prior written consent of the Buyer Required Buyers (which consent shall not be unreasonably withheld, delayed or conditioned upon fees), Debt under a mortgage warehousing facility, mortgage repurchase facility or off-balance sheet indebtedness under another financing arrangement, provided that the Buyer serves as collateral agent for such financing arrangement; (d) liabilities to the Parent or other Affiliates incurred in the ordinary course of business as currently conducted; Debt in respect of any exchange traded or over the counter derivative transaction or any and (e) liabilities under Hedge Agreement Agreements entered into in the ordinary course of business and not for speculative purposes; (e) Qualified Subordinated Debt; and (f) other Debt not in excess of Five Hundred Thousand Dollars ($500,000) in the aggregate at any time.