Common use of Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock Clause in Contracts

Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. (a) Parent shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, incur any Indebtedness (including Acquired Debt) and Parent shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that Parent may incur Indebtedness and any Restricted Subsidiary may incur Indebtedness or issue shares of Preferred Stock, if the Fixed Charge Coverage Ratio for Parent’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 Preferred Stock is issued 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 the Preferred Stock had been issued, as the case may be, at the beginning of such four-quarter period.

Appears in 3 contracts

Samples: Crown Holdings Inc, Crown Holdings Inc, Crown Holdings Inc

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Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. (a) Parent shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, incur any Indebtedness (including Acquired Debt) and Parent shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that Parent may incur Indebtedness (including Acquired Debt) and any Restricted Subsidiary may incur Indebtedness (including Acquired Debt) or issue shares of Preferred Stock, if the Fixed Charge Coverage Ratio for Parent’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 Preferred Stock is issued 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 the Preferred Stock had been issued, as the case may be, at the beginning of such four-quarter period.

Appears in 2 contracts

Samples: Crown Holdings Inc, Crown Holdings Inc

Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. (a) Parent shall not, and shall not permit any of its Restricted Subsidiaries to, directly Directly or indirectly, incur 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) ), and Parent shall the Borrower will not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that Parent may incur Indebtedness the Borrower and any Restricted Subsidiary may incur Indebtedness or (including Acquired Debt) and any Restricted Subsidiary may issue shares of Preferred Stock, Stock if the Fixed Charge Coverage Ratio for Parent’s the Borrower'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 Preferred Stock is issued would have been at least 2.0 2.00 to 1.01.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred, incurred or the Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Credit Agreement (Graham Packaging Holdings Co)

Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. (a) Parent shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, incur any Indebtedness (including Acquired Debt) and Parent shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that Parent the Company may incur Indebtedness or issue shares of Preferred Stock and any Restricted Subsidiary Guarantor may incur Indebtedness or issue shares of Preferred Stock, if the Fixed Charge Coverage Ratio for Parent’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 Preferred Stock is issued 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 the Preferred Stock had been issued, as the case may be, at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Crown Holdings Inc

Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. (a) Parent The Borrower shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, incur any Indebtedness (including Acquired Debt) ), and Parent the Borrower shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that Parent may incur Indebtedness the Borrower and any Restricted Subsidiary may incur Indebtedness or (including Acquired Debt) and any Restricted Subsidiary may issue shares of Preferred Stock, if the Fixed Charge Coverage Ratio for Parentthe Borrower’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 Preferred Stock is issued would have been at least 2.0 2.00 to 1.01, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred, incurred or the Preferred Stock had been issued, as the case may be, issued at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Credit Agreement (Gencorp Inc)

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Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. (a) Parent The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, incur any Indebtedness (including Acquired Debt) ), and Parent the Company shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; provided, however, that Parent the Company and any Subsidiary Guarantors may incur Indebtedness (including Acquired Debt) and any Restricted Subsidiary Guarantor may incur Indebtedness or issue shares of Preferred Stock, if the Fixed Charge Coverage Ratio for Parentthe 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 Preferred Stock is issued would have been at least 2.0 2.00 to 1.01, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred, incurred or the Preferred Stock had been issued, as the case may be, issued at the beginning of such four-quarter period.

Appears in 1 contract

Samples: Indenture (Gencorp Inc)

Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. (a) Parent The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, incur any Indebtedness (including Acquired DebtIndebtedness) and Parent the Issuer shall not permit any of its Restricted Subsidiaries Subsidiary to issue any shares of Preferred Stock; provided, however, that Parent the Issuer may incur Indebtedness (including Acquired Indebtedness) and any Restricted Subsidiary Guarantor may incur Indebtedness or (including Acquired Indebtedness) and issue shares of Preferred Stock, if the Fixed Charge Consolidated Interest Coverage Ratio for Parent’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 Preferred Stock is issued would have been be at least 2.0 2.00 to 1.01.00, 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 the Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of such the relevant four-quarter periodperiod (the “Coverage Ratio Exception”).

Appears in 1 contract

Samples: Indenture (ExamWorks Group, Inc.)

Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. (a) Parent shall not, and shall not permit any of its Restricted Subsidiaries to, directly Directly or indirectly, incur create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise (collectively, "incur"), with respect to any Indebtedness (including Acquired Debt) ), and Parent shall the Borrower will not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock; providedPROVIDED, howeverHOWEVER, that Parent may incur Indebtedness the Borrower and any Restricted Subsidiary may incur Indebtedness or (including Acquired Debt) and any Restricted Subsidiary may issue shares of Preferred Stock, Stock if the Fixed Charge Coverage Ratio for Parent’s the Borrower'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 Preferred Stock is issued would have been at least 2.0 2.00 to 1.01.00, determined on a pro forma PRO FORMA basis (including a pro forma PRO FORMA application of the net proceeds therefrom), as if the additional Indebtedness had been incurred, incurred or the Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter period...

Appears in 1 contract

Samples: Loan Agreement (Celanese CORP)

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