Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Issuer will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee, acquire, become liable, contingently or otherwise, with respect to, or otherwise become responsible for payment of (collectively, "INCUR") any Indebtedness (including Acquired Indebtedness) and the Issuer will not permit any of its Restricted Subsidiaries to issue any Preferred Stock; provided, however, that (i) Parent and its Restricted Subsidiaries (other than Rural/Metro LLC and its Restricted Subsidiaries) may incur Indebtedness (including, without limitation, Acquired Indebtedness) if the Consolidated Fixed Charge Coverage Ratio for Parent's most recently ended four fiscal quarters for which financial statements are available immediately preceding the date on which such additional Indebtedness is incurred would be at least 2.0 to 1.0 and (ii) Rural/Metro LLC and any of its Restricted Subsidiaries may incur Indebtedness (including, without limitation, Acquired Indebtedness) or issue Preferred Stock if on the date of the incurrence of such Indebtedness or the issuance of such Preferred Stock, after giving effect to the incurrence or issuance thereof, the Consolidated Fixed Charge Coverage Ratio of Rural/Metro LLC would be at least 2.0 to 1.0.
(b) The limitations set forth in Section 4.03(a) shall not prohibit the incurrence of any of the following items of Indebtedness or the issuance any of the following items of Preferred Stock, as applicable (collectively, "PERMITTED INDEBTEDNESS"):
(1) Indebtedness under the Notes issued in the Offerings in an aggregate principal amount at maturity not to exceed $93.5 million;
(2) Indebtedness of the Issuer and its Restricted Subsidiaries incurred pursuant to the Credit Facilities in an aggregate principal amount at any time outstanding not to exceed $200.0 million less the amount of any such Indebtedness permanently retired with the Net Cash Proceeds from any Asset Sale applied from and after the Issue Date to reduce the outstanding amounts pursuant to Section 4.06;
(3) other Indebtedness of the Issuer and its Restricted Subsidiaries outstanding on the Issue Date (including, without limitation, Indebtedness under the Senior Subordinated Notes issued in the Offerings and guarantees thereof) after giving effect to the application of the proceeds of the Offerings, reduced by the amount of any scheduled amortization payments or mandatory prepayments when actually paid or p...
Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt), the Company will not, and will not permit any of its Restricted Subsidiaries to, issue any Disqualified Stock, and the Company will not permit any of its Restricted Subsidiaries to issue any preferred securities; provided, however, that the Company and any of the Restricted Subsidiaries may incur Indebtedness (including Acquired Debt) or issue Disqualified Stock or preferred securities, if, for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or preferred securities are issued, the Fixed Charge Coverage Ratio would have been at least 2.0 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or Disqualified Stock or preferred securities had been issued, as the case may be, at the beginning of such four-quarter period.
Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. 4.10.1 The Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness), and the Company shall not issue any Disqualified Stock and shall not permit any of its Subsidiaries to issue any shares of Preferred Stock.
Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. The Issuers shall not, and shall not permit any of their Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness (including Acquired Debt) and the Issuers will not issue any Disqualified Stock and will not permit any of their Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that the Issuers may Incur Indebtedness (including Acquired Debt) or issue shares of Disqualified Stock and any of their Restricted Subsidiaries may Incur Indebtedness if the incurrence results in a Consolidated Leverage Ratio that is no greater than 7.0 to 1.0 if the Indebtedness is Incurred or the Disqualified Stock is issued prior to February 1, 2005, or 6.0 to 1.0 thereafter. Notwithstanding the foregoing, as long as no
Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Borrower will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “Incur,” and “Incurrence,” “Incurred” and “Incurring” shall have meanings correlative to the foregoing) any Indebtedness (including Acquired Debt) or issue any Disqualified Stock, and the Borrower will not permit any of the Restricted Subsidiaries to issue any shares of Preferred Stock.
Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. Create, incur, issue, assume, Guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to any Indebtedness (other than Existing Indebtedness) and Borrower will not issue any Borrower Preferred Stock and will not permit any of its Subsidiaries to issue any shares of its preferred stock (other than to Borrower or another wholly-owned Subsidiary of Borrower).
Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, Guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, "INCUR") any Indebtedness (including Acquired Indebtedness); and the Company will not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock;
Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness, the Company will not issue any Disqualified Stock, and the Company will not permit any of its Restricted Subsidiaries to issue any preferred securities; provided, however, that the Issuers and any Guarantors may incur Indebtedness or the Company may issue Disqualified Stock, if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock is issued, as the case may be, would have been at least 2.25 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or Disqualified Stock had been issued, as the case may be, at the beginning of such four-quarter period. The first paragraph of this Section 4.09 will not prohibit the incurrence of any of the following items of Indebtedness or the issuance of any Disqualified Stock described in clause (5), (12) or (15) or any preferred securities described in clause (11) below (collectively, “Permitted Debt”):
(1) the incurrence by the Company or any of its Restricted Subsidiaries of:
(a) Indebtedness (including letters of credit) incurred under one or more Credit Facilities pursuant to this clause 1(a), up to an aggregate principal amount (with outstanding letters of credit being deemed to have a principal amount equal to the maximum potential liability of the Company and its Subsidiaries thereunder) (together with the aggregate principal amount of all other such Indebtedness at any time outstanding pursuant to this clause (1)(a)) not to exceed the greatest of (i) $3,600 million, or upon the occurrence of the Xxxxx Guarantor Event, $4,250 million, (ii) an amount equal to 60% of the Company’s Modified ACNTA determined as of the date of such incurrence and (iii) the Linn Borrowing Base as of the date of such incurrence if incurred under the Linn Credit Agreement, plus until the date of the Xxxxx Guarantor Event, the Xxxxx Borrowing Base as of the date of such incurrence if incurred under the Xxxxx Credit Facility; provided that Indebtedness incurred under...
Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. The Parent will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable,
Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock is hereby deleted in its entirety and replaced with the phrase “SECTION 4.09 [NOT USED]”.
