Common use of Limitation on Leases Clause in Contracts

Limitation on Leases. Neither the Borrower nor any Subsidiary will create, incur, assume or permit to exist any obligation for the payment of rent or hire of Property of any kind whatsoever (real or personal including operating or capital leases), under leases or lease agreements except for leases (a) in the ordinary course of business and which do not constitute Debt and (b) permitted under Section 9.01(d) hereof.

Limitation on Leases. Neither the Borrower nor any Subsidiary will create, incur, assume or permit suffer to exist any obligation for the payment of rent or hire of Property of any kind whatsoever (real or personal including operating or capital leases), under leases or lease agreements except for which would cause the aggregate amount of all payments made by the Borrower and its Subsidiaries pursuant to all such leases (a) or lease agreements to exceed $50,000 in any period of twelve consecutive calendar months during the ordinary course life of business and which do not constitute Debt and (b) permitted under Section 9.01(d) hereofsuch leases.

Limitation on Leases. Neither the The Borrower nor will not, and will not permit any Restricted Subsidiary will to, create, incur, assume or permit suffer to exist any obligation for the payment of rent or hire of Property of any kind whatsoever (real or personal including operating or capital leasesbut excluding Capital Leases and leases of Hydrocarbon Interests), under leases or lease agreements except for other than any such leases (a) or lease agreements in existence as of the ordinary course of business and which do not constitute Debt and (b) permitted under Section 9.01(d) hereofAmendment Effective Date.