Common use of Limitation on Issuances of Guarantees of Indebtedness Clause in Contracts

Limitation on Issuances of Guarantees of Indebtedness. The Company shall not permit any of its Restricted Subsidiaries, directly or indirectly, to Guarantee or pledge any assets to secure the payment of any other Indebtedness of the Company (other than the Existing Guarantees by the Canadian Guarantors) unless such Restricted Subsidiary simultaneously executes and delivers (1) supplemental indentures providing for the Guarantees of the payment of the Notes by such Restricted Subsidiary, which Guarantees shall be senior to such Restricted Subsidiary's Guarantee of or pledge to secure such other Indebtedness unless the Indebtedness of the Company so Guaranteed or secured is senior Indebtedness of the Company, in which case the Guarantees of the Notes may be pari passu with such Restricted Subsidiary's Guarantee of or pledge to secure such other Indebtedness of the Company, and (2) a pledge or security agreement providing for a pledge of such assets to secure the Notes and all other Parity Lien Debt on an equal and ratable basis (subject only to Permitted Prior Liens).

Appears in 4 contracts

Samples: Indenture (Calpine Corp), Indenture (Calpine Corp), Indenture (Calpine Corp)

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Limitation on Issuances of Guarantees of Indebtedness. The Company shall will not permit any of its Restricted Subsidiaries, directly or indirectly, to Guarantee or pledge any assets to secure the payment of any other Indebtedness of the Company or any other Restricted Subsidiary (other than the Existing Guarantees a Guarantee or pledge by the Canadian Guarantorsa Foreign Restricted Subsidiary securing Indebtedness of another Foreign Restricted Subsidiary) unless such Restricted Subsidiary simultaneously executes and delivers (1) a supplemental indentures indenture substantially in the form of Exhibit B hereto, providing for the Guarantees Guarantee of the payment of the Notes by such Restricted Subsidiary, which Guarantees Guarantee shall be senior to or pari passu with such Restricted Subsidiary's Guarantee of or pledge to secure such other Indebtedness unless the such other Indebtedness of the Company so Guaranteed or secured is senior Indebtedness of the CompanySenior Debt, in which case the Guarantees Guarantee of the Notes may be pari passu with such Restricted Subsidiary's subordinated to the Guarantee of or pledge such Senior Debt to secure such other Indebtedness of the Company, and (2) a pledge or security agreement providing for a pledge of such assets to secure same extent as the Notes and all other Parity Lien Debt on an equal and ratable basis (subject only are subordinated to Permitted Prior Liens)such Senior Debt.

Appears in 1 contract

Samples: Indenture (Keystone Marketing Services Inc)

Limitation on Issuances of Guarantees of Indebtedness. The Company shall not permit any of its Restricted Subsidiaries, directly or indirectly, to Guarantee or pledge any assets to secure the payment of any other Indebtedness of the Company (other than the Existing Guarantees Guarantee by the Canadian GuarantorsGuarantor) unless such Restricted Subsidiary simultaneously executes and delivers (1) a supplemental indentures indenture providing for the Guarantees Guarantee of the payment of the Notes by such Restricted Subsidiary, which Guarantees Guarantee shall be senior to such Restricted Subsidiary's Guarantee of or pledge to secure such other Indebtedness unless the Indebtedness of the Company so Guaranteed or secured is senior Indebtedness of the Company, in which case the Guarantees Guarantee of the Notes may be pari passu with such Restricted Subsidiary's Guarantee of or pledge to secure such other Indebtedness of the Company, and (2) a pledge or security agreement providing for a pledge of such assets to secure the Notes and all other Parity Lien Debt on an equal and ratable basis (subject only to Permitted Prior Liens).

Appears in 1 contract

Samples: Indenture (Calpine Corp)

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Limitation on Issuances of Guarantees of Indebtedness. The Company shall not permit any of its Restricted Subsidiaries, directly or indirectly, to Guarantee or pledge any assets to secure the payment of any other Indebtedness of the Company (other than the Existing Guarantees by the Canadian Guarantors) unless such Restricted Subsidiary simultaneously executes and delivers (1) supplemental indentures agreements providing for the Guarantees of the payment of the Notes Term Loans by such Restricted Subsidiary, which Guarantees shall be senior to such Restricted Subsidiary's Guarantee of or pledge to secure such other Indebtedness unless the Indebtedness of the Company so Guaranteed or secured is senior Indebtedness of the Company, in which case the Guarantees of the Notes Term Loans may be pari passu with such Restricted Subsidiary's Guarantee of or pledge to secure such other Indebtedness of the Company, and (2) a pledge or security agreement providing for a pledge of such assets to secure the Notes Term Loans and all other Parity Lien Debt on an equal Equal and ratable Ratable basis (subject only to Permitted Prior Liens). 100 SECTION 5.20. [Intentionally Omitted.]

Appears in 1 contract

Samples: Credit Agreement (Calpine Corp)

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