Common use of Limitation on Exercise of Cure Right Clause in Contracts

Limitation on Exercise of Cure Right. Notwithstanding anything herein to the contrary, (a) in each four-fiscal-quarter period there shall be at least one fiscal quarter in which the Cure Right is not exercised, (b) in each eight-fiscal-quarter period, there shall be a period of at least four consecutive fiscal quarters during which the Cure Right is not exercised, (c) the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance Covenant, (d) in each 12 month period, the maximum aggregate Cure Amount for all exercises shall not exceed €200 million and (e) no Indebtedness repaid with the proceeds of Permitted Cure Securities shall be deemed repaid for purposes of calculating the ratio specified in Section 6.10 for the period during which such Permitted Cure Securities were issued.

Appears in 6 contracts

Samples: Credit Agreement (Celanese Corp), Credit Agreement (Celanese Corp), Credit Agreement (Celanese CORP)

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Limitation on Exercise of Cure Right. Notwithstanding anything herein to the contrary, (a) in each four-fiscal-quarter period there shall be at least one fiscal quarter in which the Cure Right is not exercised, (b) in each eight-fiscal-quarter period, there shall be a period of at least four consecutive fiscal quarters during which the Cure Right is not exercised, (c) the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance CovenantCovenants, (d) in each 12 month period, the maximum aggregate Cure Amount for all exercises shall not exceed €200 (eurodollar)200 million and (e) no Indebtedness repaid with the proceeds of Permitted Cure Securities shall be deemed repaid for purposes of calculating the ratio ratios specified in Section 6.10 6.11 or 6.12 for the period during which such Permitted Cure Securities were issued.

Appears in 1 contract

Samples: Credit Agreement (BCP Crystal Holdings Ltd. 2)

Limitation on Exercise of Cure Right. Notwithstanding anything herein to the contrary, (a) in each four-fiscal-quarter period there shall be at least one fiscal quarter in which the Cure Right is not exercised, (b) in each eight-fiscal-quarter period, there shall be a period of at least four consecutive fiscal quarters during which the Cure Right is not exercised, (c) the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance CovenantCovenants, (d) in each 12 month period, the maximum aggregate Cure Amount for all exercises shall not exceed €200 (eurodollar)200 million and (e) no Indebtedness repaid with the proceeds of Permitted Cure Securities shall be deemed repaid for purposes of calculating the ratio ratios specified in Section 6.10 or 6.11 for the period during which such Permitted Cure Securities were issued.

Appears in 1 contract

Samples: Loan Agreement (BCP Crystal Holdings Ltd. 2)

Limitation on Exercise of Cure Right. Notwithstanding anything herein to the contrary, (a) in each four-fiscal-quarter period there shall be at least one fiscal quarter in which the Cure Right is not exercised, (b) in each eight-fiscal-quarter period, there shall be a period of at least four consecutive fiscal quarters during which the Cure Right is not exercised, (c) the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance CovenantCovenants, (d) in each 12 month period, the maximum aggregate Cure Amount for all exercises shall not exceed EURO 200 million and (e) no Indebtedness repaid with the proceeds of Permitted Cure Securities shall be deemed repaid for purposes of calculating the ratio ratios specified in Section 6.10 6.11 or 6.12 for the period during which such Permitted Cure Securities were issued.

Appears in 1 contract

Samples: Credit Agreement (Celanese CORP)

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Limitation on Exercise of Cure Right. Notwithstanding anything herein to the contrary, (a) in each four-fiscal-quarter period there shall be at least one fiscal quarter in which the Cure Right is not exercised, (b) in each eight-fiscal-quarter period, there shall be a period of at least four consecutive fiscal quarters during which the Cure Right is not exercised, (c) the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance CovenantCovenants, (d) in each 12 month period, the maximum aggregate Cure Amount for all exercises shall not exceed EURO 200 million and (e) no Indebtedness repaid with the proceeds of Permitted Cure Securities shall be deemed repaid for purposes of calculating the ratio ratios specified in Section 6.10 or 6.11 for the period during which such Permitted Cure Securities were issued.

Appears in 1 contract

Samples: Loan Agreement (Celanese CORP)

Limitation on Exercise of Cure Right. Notwithstanding anything herein to the contrary, (a) in each four-fiscal-quarter period there shall be at least one fiscal quarter in which the Cure Right is not exercised, (b) in each eight-fiscal-quarter period, there shall be a period of at least four consecutive fiscal quarters during which the Cure Right is not exercised, (c) the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance CovenantCovenants, (d) in each 12 month period, the maximum aggregate Cure Amount for all exercises shall not exceed €200 million and (e) no Indebtedness repaid with the proceeds of Permitted Cure Securities shall be deemed repaid for purposes of calculating the ratio ratios specified in Section 6.10 6.11 or 6.12 for the period during which such Permitted Cure Securities were issued.

Appears in 1 contract

Samples: Credit Agreement (Celanese CORP)

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