Common use of Limitation on Mortgages Clause in Contracts

Limitation on Mortgages. (a) Nothing in this Indenture or in the Notes shall in any way restrict or prevent the Issuer or any Subsidiary from incurring any Indebtedness; provided, however, that if at any time, pursuant to Section 4.15, the Issuer and the Subsidiaries are not subject to the Terminated Covenants, subject to Section 4.14, neither the Issuer nor any of its Subsidiaries will issue, assume or guarantee any indebtedness or obligation secured by Mortgages upon any Principal Property, unless the Notes shall be secured equally and ratably with (or prior to) such Indebtedness. This restriction will not apply to: (1) Mortgages securing all or any part of the purchase price of property acquired or cost of construction of property or cost of additions, substantial repairs, alterations or improvements or property, if the Indebtedness and the related Mortgages are incurred within 12 months of the later of the acquisition or completion of construction and full operation or additions, repairs, alterations or improvements; (2) Mortgages existing on property at the time of its acquisition by the Issuer or a Subsidiary or on the property of a Person at the time of the acquisition of such Person by the Issuer or a Subsidiary (including acquisitions through merger or consolidation); (3) Mortgages to secure Indebtedness on which the interest payments to holders of the related indebtedness are excludable from gross income for federal income tax purposes under Section 103 of the Code; (4) Mortgages in favor of the Issuer or any Subsidiary; (5) Mortgages existing on the date of this Indenture; (6) Mortgages in favor of a government or governmental entity that (i) secure Indebtedness which is guaranteed by the government or governmental entity, (ii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of goods, products or facilities produced under contract or subcontract for the government or governmental entity, or (iii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of the property subject to the Mortgage; (7) Mortgages incurred in connection with the borrowing of funds where such funds are used to repay, within 120 days after entering into such Mortgage, Indebtedness in the same principal amount secured by other Mortgages on Principal Property with at least the same appraised fair market value; and (8) any extension, renewal or replacement of any Mortgage referred to in clauses (1) through (7) above, provided the amount secured is not increased and such extension, renewal or replacement Mortgage relates to the same property. (b) Notwithstanding Section 4.12(a), the Issuer and its Subsidiaries may issue, assume or guarantee Indebtedness secured by Mortgages pursuant to Section 4.14.

Limitation on Mortgages. The Company will not, nor will it permit any Restricted Subsidiary to, create, assume, incur or suffer to exist (ai) Nothing in any Mortgage upon any stock or indebtedness of any Restricted Subsidiary, whether owned on the date of this Indenture or in hereafter acquired, to secure any Debt of the Notes shall Company or any other Person (other than the Securities), and (ii) any Mortgage upon any Principal Property, whether owned or leased on the date of this Indenture, or thereafter acquired, to secure any Debt of the Company or any other person (other than the Securities) without in any way restrict such case making effective provision whereby all of the Securities Outstanding shall be directly secured equally and ratably with such Debt, excluding, however, from the operation of the foregoing provisions of this Section 1006 any Mortgage upon stock or prevent indebtedness of any corporation existing at the Issuer time such corporation becomes a Subsidiary, or existing upon stock or indebtedness of a Subsidiary at the time of acquisition of such stock or indebtedness, and any Subsidiary from incurring extension, renewal or replacement (or successive extensions, renewals or replacements) in whole or in part of any Indebtednesssuch Mortgage; provided, however, that if at any time, pursuant to Section 4.15, the Issuer and principal amount of Debt secured thereby shall not exceed the Subsidiaries are not subject to the Terminated Covenants, subject to Section 4.14, neither the Issuer nor any principal amount of its Subsidiaries will issue, assume or guarantee any indebtedness or obligation Debt so secured by Mortgages upon any Principal Property, unless the Notes shall be secured equally and ratably with (or prior to) such Indebtedness. This restriction will not apply to: (1) Mortgages securing all or any part of the purchase price of property acquired or cost of construction of property or cost of additions, substantial repairs, alterations or improvements or property, if the Indebtedness and the related Mortgages are incurred within 12 months of the later of the acquisition or completion of construction and full operation or additions, repairs, alterations or improvements; (2) Mortgages existing on property at the time of its acquisition by the Issuer or a Subsidiary or on the property of a Person at the time of the acquisition of such Person by the Issuer or a Subsidiary (including acquisitions through merger or consolidation); (3) Mortgages to secure Indebtedness on which the interest payments to holders of the related indebtedness are excludable from gross income for federal income tax purposes under Section 103 of the Code; (4) Mortgages in favor of the Issuer or any Subsidiary; (5) Mortgages existing on the date of this Indenture; (6) Mortgages in favor of a government or governmental entity that (i) secure Indebtedness which is guaranteed by the government or governmental entity, (ii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of goods, products or facilities produced under contract or subcontract for the government or governmental entity, or (iii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of the property subject to the Mortgage; (7) Mortgages incurred in connection with the borrowing of funds where such funds are used to repay, within 120 days after entering into such Mortgage, Indebtedness in the same principal amount secured by other Mortgages on Principal Property with at least the same appraised fair market value; and (8) any extension, renewal or replacement of any Mortgage referred to in clauses (1) through (7) above, provided the amount secured is not increased and such extension, renewal or replacement replacement; and provided further, that such Mortgage relates shall be limited to all or such part of the same property. (b) stock or indebtedness which secured the Mortgage so extended, renewed or replaced. Notwithstanding Section 4.12(a)the foregoing, the Issuer Company may, and its Subsidiaries may issuepermit any Restricted Subsidiary to, assume create, assume, incur or guarantee Indebtedness suffer to exist (i) any Permitted Mortgages and (ii) any Mortgage upon any Principal Property without equally and ratably securing the Senior Debt Securities if the aggregate amount of all Debt then outstanding secured by such Mortgage and all similar Mortgages pursuant does not exceed 15% of the total consolidated stockholders' equity (including preferred stock) of the Company as shown on the audited consolidated balance sheet contained in the latest annual report to Section 4.14stockholders of the Company; provided that Debt secured by Permitted Mortgages shall not be included in the amount of such secured Debt.

Limitation on Mortgages. (a) Nothing in this Indenture Agreement or in the Notes (if any) shall in any way restrict or prevent the Issuer Company or any Subsidiary from incurring any Indebtednessindebtedness; provided, however, provided that if at any time, pursuant to Section 4.15, the Issuer Company covenants and the Subsidiaries are not subject to the Terminated Covenants, subject to Section 4.14, agrees that neither the Issuer it nor any of its Subsidiaries Restricted Subsidiary will issue, assume or guarantee any Debt secured by any Mortgage upon any Restricted Property without effectively providing that all of the Loans of all of the Borrowers (together with, if the Company so determines, any other indebtedness or obligation secured by Mortgages upon then existing and any Principal Property, unless other indebtedness or obligation thereafter created ranking equally with the Notes Loans) shall be secured equally and ratably with (or prior to) such Indebtedness. This restriction will Debt so long as such Debt shall be so secured, except that the foregoing provisions shall not apply to: (1a) Mortgages securing affecting property of a corporation existing at the time it becomes a Subsidiary of the Company or at the time it is merged into or consolidated with the Company or a Subsidiary; (b) Mortgages on property existing at the time of acquisition thereof or incurred to secure payment of all or part of the purchase price thereof or to secure Debt incurred prior to, at the time of or within 24 months after acquisition thereof for the purpose of financing all or part of the purchase price thereof; (c) Mortgages on property to secure all or part of the cost of exploration, drilling or development thereof or, in the case of property which is, in the opinion of the Board of Directors of the Company, substantially unimproved for the use intended by the Company, all or part of the cost of improvement thereof, or to secure Debt incurred to provide funds for any such purpose; (d) Mortgages which secure only Debt owing by a Subsidiary to the Company or another Subsidiary; (e) Mortgages in favor of the United States of America or any state thereof or any department, agency, instrumentality or political subdivision of any such jurisdiction to secure partial, progress, advance or other payments pursuant to any contract or statute or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price of property acquired or cost of construction of property constructing or cost of additions, substantial repairs, alterations or improvements or property, if the Indebtedness and the related Mortgages are incurred within 12 months of the later of the acquisition or completion of construction and full operation or additions, repairs, alterations or improvements; (2) Mortgages existing on property at the time of its acquisition by the Issuer or a Subsidiary or on improving the property of a Person at the time of the acquisition of such Person by the Issuer or a Subsidiary (including acquisitions through merger or consolidation); (3) subject thereto, including, without limitation, Mortgages to secure Indebtedness on which the interest payments to holders Debt of the related indebtedness are excludable from gross income for federal income tax purposes under Section 103 of the Code;pollution control or industrial revenue bond type; or (4f) Mortgages in favor of the Issuer or any Subsidiary; (5) Mortgages existing on the date of this Indenture; (6) Mortgages in favor of a government or governmental entity that (i) secure Indebtedness which is guaranteed by the government or governmental entity, (ii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of goods, products or facilities produced under contract or subcontract for the government or governmental entity, or (iii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of the property subject to the Mortgage; (7) Mortgages incurred in connection with the borrowing of funds where such funds are used to repay, within 120 days after entering into such Mortgage, Indebtedness in the same principal amount secured by other Mortgages on Principal Property with at least the same appraised fair market value; and (8) any extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of any Mortgage referred to in the foregoing clauses (1a) through to (7e) aboveinclusive or of any Debt secured thereby; provided that the principal amount of Debt secured thereby shall not exceed the principal amount of Debt so secured at the time of such extension, provided the amount secured is not increased renewal or replacement, and that such extension, renewal or replacement Mortgage relates shall be limited to all or part of substantially the same property which secured the Mortgage extended, renewed or replaced (plus improvements on such property. (b) ). Notwithstanding Section 4.12(a)the foregoing provisions of this Section, the Issuer Company and its any one or more Restricted Subsidiaries may issue, assume or guarantee Indebtedness Debt secured by Mortgages pursuant which would otherwise be subject to the foregoing restrictions or grant any such Mortgage to secure any such Debt in an aggregate principal amount which, together with the aggregate outstanding principal amount of all Debt of the Company and the Restricted Subsidiaries which would otherwise be subject to the foregoing restrictions (not including Debt permitted to be secured under clauses (a) to (f) inclusive above) and the aggregate Value of the Sale and Lease-Back Transactions (as such terms are defined in Section 4.145.03 hereof) in existence at such time (not including Sale and Lease-Back Transactions as to which the Company has complied with Section 5.03(b) hereof), does not at any one time exceed 10% of the Consolidated Net Tangible Assets of the Company and its Consolidated Subsidiaries. The following types of transaction, among others, shall not be deemed to create Debt secured by Mortgage: (i) the sale or other transfer of oil, gas or other minerals in place for a period of time until, or in an amount such that, the transferee will realize therefrom a specified amount (however determined) of money or such minerals, or the sale or other transfer of any other interest in property of the character commonly referred to as a production payment; and (ii) Mortgages required by any contract or statute in order to permit the Company or a Subsidiary to perform any contract or subcontract made by it with or at the request of the United States of America, any state or any department, agency or instrumentality, or political subdivision of either.

Limitation on Mortgages. (a) Nothing in this Indenture or in The Company covenants and agrees that, so long as any of the Notes Securities shall in any way restrict or prevent the Issuer or be outstanding, neither it nor any Subsidiary from incurring any Indebtedness; provided, however, that if at any time, pursuant to Section 4.15, the Issuer and the Subsidiaries are not subject to the Terminated Covenants, subject to Section 4.14, neither the Issuer nor any of its Subsidiaries owning Restricted Property will issue, assume or guarantee any indebtedness or obligation Debt secured by Mortgages upon any Principal Restricted Property, unless without effectively providing that the Notes outstanding Securities shall be secured equally and ratably with (or prior to) such Indebtedness. This restriction will Debt so long as such Debt shall be so secured, except that the foregoing provisions shall not apply to: (1a) Mortgages securing affecting property of the Company in effect as of the date hereof or of a corporation existing at the time it becomes a Subsidiary or at the time it is merged into or consolidated with the Company or a Subsidiary of the Company; (b) Mortgages on property existing at the time of acquisition thereof or incurred to secure payment of all or part of the purchase price thereof or to secure Debt incurred prior to, at the time of or within 24 months after acquisition thereof for the purpose of financing all or part of the purchase price thereof; (c) Mortgages on property to secure all or part of the cost of development thereof or (in the case of property which is, in the opinion of the Company’s Board of Directors, substantially unimproved for the use intended by the Company) all or part of the cost of improvement thereof, or to secure Debt incurred to provide funds for any such purpose; (d) Mortgages which secure only Debt owing by a Subsidiary of the Company to the Company or a Subsidiary of the Company; (e) Mortgages in favor of the United States of America, any State, any foreign country or any department, agency, instrumentality or political subdivision of any such jurisdiction, to secure partial, progress, advance or other payments pursuant to any contract or statute or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price of property acquired or cost of construction of property constructing or cost of additions, substantial repairs, alterations or improvements or property, if the Indebtedness and the related Mortgages are incurred within 12 months of the later of the acquisition or completion of construction and full operation or additions, repairs, alterations or improvements; (2) Mortgages existing on property at the time of its acquisition by the Issuer or a Subsidiary or on improving the property of a Person at the time of the acquisition of such Person by the Issuer or a Subsidiary (including acquisitions through merger or consolidation); (3) subject thereto, including, without limitation, Mortgages to secure Indebtedness on which the interest payments to holders Debt of the related indebtedness are excludable from gross income for federal income tax purposes under Section 103 of the Code;pollution control or industrial revenue bond type; or (4f) Mortgages in favor of the Issuer or any Subsidiary; (5) Mortgages existing on the date of this Indenture; (6) Mortgages in favor of a government or governmental entity that (i) secure Indebtedness which is guaranteed by the government or governmental entity, (ii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of goods, products or facilities produced under contract or subcontract for the government or governmental entity, or (iii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of the property subject to the Mortgage; (7) Mortgages incurred in connection with the borrowing of funds where such funds are used to repay, within 120 days after entering into such Mortgage, Indebtedness in the same principal amount secured by other Mortgages on Principal Property with at least the same appraised fair market value; and (8) any extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of any Mortgage referred to in the foregoing clauses (1a) through to (7e) aboveinclusive or of any Debt secured thereby, provided that the principal amount of Debt secured is thereby shall not increased exceed the principal amount of Debt so secured at the time of such extension, renewal or replacement, and that such extension, renewal or replacement Mortgage relates shall be limited to all or part of the same property which secured the Mortgage extended, renewed or replaced (plus improvements on such property. (b) ). Notwithstanding the foregoing provisions of this Section 4.12(a)4.05, the Issuer Company and any one or more of its Subsidiaries owning Restricted Property may issue, assume or guarantee Indebtedness Debt secured by Mortgages pursuant which would otherwise be subject to the foregoing restrictions in an aggregate principal amount which, together with the aggregate outstanding principal amount of all other Debt of the Company and its Subsidiaries owning Restricted Property which would otherwise be subject to the foregoing restrictions (not including Debt permitted to be secured under clauses (a) to (f) inclusive above) and the aggregate Value (as defined in Section 4.144.06) of the Sale and Lease-Back Transactions in existence at such time (not including Sale and Lease-Back Transactions as to which the Company has complied with Section 4.06(b), does not at any one time exceed 10% of the Consolidated Net Tangible Assets of the Company and its consolidated Subsidiaries. Among others, Mortgages required by any contract or statute in order to permit the Company or a Subsidiary of the Company to perform any contract or subcontract made by it with or at the request of the United States of America, any State, any foreign country or any department, agency or instrumentality of any of the foregoing shall not be deemed to create Debt secured by Mortgages.

Limitation on Mortgages. (a) Nothing in this Indenture or in The Company covenants and agrees that, so long as any of the Notes Securities shall in any way restrict or prevent the Issuer or be outstanding, neither it nor any Subsidiary from incurring any Indebtedness; provided, however, that if at any time, pursuant to Section 4.15, the Issuer and the Subsidiaries are not subject to the Terminated Covenants, subject to Section 4.14, neither the Issuer nor any of its Subsidiaries owning Restricted Property will issue, assume or guarantee any indebtedness or obligation Debt secured by Mortgages upon any Principal Restricted Property, unless without effectively providing that the Notes outstanding Securities shall be secured equally and ratably with (or prior to) such Indebtedness. This restriction will Debt so long as such Debt shall be so secured, except that the foregoing provisions shall not apply to: (1a) Mortgages securing affecting property of the Company in effect as of the date hereof or of a corporation existing at the time it becomes a Subsidiary or at the time it is merged into or consolidated with the Company or a Subsidiary of the Company; (b) Mortgages on property existing at the time of acquisition thereof or incurred to secure payment of all or part of the purchase price thereof or to secure Debt incurred prior to, at the time of or within 24 months after acquisition thereof for the purpose of financing all or part of the purchase price thereof; (c) Mortgages on property to secure all or part of the cost of development thereof or (in the case of property which is, in the opinion of the Company’s Board of Directors, substantially unimproved for the use intended by the Company) all or part of the cost of improvement thereof, or to secure Debt incurred to provide funds for any such purpose; (d) Mortgages which secure only Debt owing by a Subsidiary of the Company to the Company or a Subsidiary of the Company; (e) Mortgages in favor of the United States of America, any State, any foreign country or any department, agency, instrumentality or political subdivision of any such jurisdiction, to secure partial, progress, advance or other payments pursuant to any contract or statute or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price of property acquired or cost of construction of property constructing or cost of additions, substantial repairs, alterations or improvements or property, if the Indebtedness and the related Mortgages are incurred within 12 months of the later of the acquisition or completion of construction and full operation or additions, repairs, alterations or improvements; (2) Mortgages existing on property at the time of its acquisition by the Issuer or a Subsidiary or on improving the property of a Person at the time of the acquisition of such Person by the Issuer or a Subsidiary (including acquisitions through merger or consolidation); (3) subject thereto, including, without limitation, Mortgages to secure Indebtedness on which the interest payments to holders Debt of the related indebtedness are excludable from gross income for federal income tax purposes under Section 103 of the Code;pollution control or industrial revenue bond type; or (4f) Mortgages in favor of the Issuer or any Subsidiary; (5) Mortgages existing on the date of this Indenture; (6) Mortgages in favor of a government or governmental entity that (i) secure Indebtedness which is guaranteed by the government or governmental entity, (ii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of goods, products or facilities produced under contract or subcontract for the government or governmental entity, or (iii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of the property subject to the Mortgage; (7) Mortgages incurred in connection with the borrowing of funds where such funds are used to repay, within 120 days after entering into such Mortgage, Indebtedness in the same principal amount secured by other Mortgages on Principal Property with at least the same appraised fair market value; and (8) any extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of any Mortgage referred to in the foregoing clauses (1a) through to (7e) aboveinclusive or of any Debt secured thereby, provided that the principal amount of Debt secured is thereby shall not increased exceed the principal amount of Debt so secured at the time of such extension, renewal or replacement, and that such extension, renewal or replacement Mortgage relates shall be limited to all or part of the same property which secured the Mortgage extended, renewed or replaced (plus improvements on such property. (b) ). Notwithstanding the foregoing provisions of this Section 4.12(a)4.05, the Issuer Company and any one or more of its Subsidiaries owning Restricted Property may issue, assume or guarantee Indebtedness Debt secured by Mortgages pursuant which would otherwise be subject to the foregoing restrictions in an aggregate principal amount which, together with the aggregate outstanding principal amount of all other Debt of the Company and its Subsidiaries owning Restricted Property which would otherwise be subject to the foregoing restrictions (not including Debt permitted to be secured under clauses (a) to (e) inclusive above) and the aggregate Value (as defined in Section 4.144.06) of the Sale and Lease-Back Transactions in existence at such time (not including Sale and Lease-Back Transactions as to which the Company has complied with Section 4.06(b), does not at any one time exceed 10% of the Consolidated Net Tangible Assets of the Company and its consolidated Subsidiaries. Among others, Mortgages required by any contract or statute in order to permit the Company or a Subsidiary of the Company to perform any contract or subcontract made by it with or at the request of the United States of America, any State, any foreign country or any department, agency or instrumentality of any of the foregoing shall not be deemed to create Debt secured by Mortgages.

Limitation on Mortgages. (a) Nothing in this Indenture or in The Corporation covenants and agrees that, so long as any of the Notes Debentures shall in any way restrict or prevent the Issuer or be Outstanding, neither it nor any Subsidiary from incurring any Indebtedness; provided, however, that if at any time, pursuant to Section 4.15, the Issuer and the Subsidiaries are not subject to the Terminated Covenants, subject to Section 4.14, neither the Issuer nor any of its Subsidiaries owning Restricted Property will issue, assume or guarantee any indebtedness or obligation Debt secured by Mortgages upon any Principal Restricted Property, unless without effectively providing that the Notes Outstanding Debentures shall be secured equally and ratably with (or prior to) such Indebtedness. This restriction will Debt so long as such Debt shall be so secured, except that the foregoing provisions shall not apply to: (1a) Mortgages securing affecting property of the Corporation in effect as of the date hereof or of a corporation existing at the time it becomes a Subsidiary or at the time it is merged into or consolidated with the Corporation or a Subsidiary; (b) Mortgages on property existing at the time of acquisition thereof or incurred to secure payment of all or part of the purchase price thereof or to secure Debt incurred prior to, at the time of or within 24 months after acquisition thereof for the purpose of financing all or part of the purchase price thereof; (c) Mortgages on property to secure all or part of the cost of exploration, drilling or development thereof or (in the case of property which is, in the opinion of the Board of Directors, substantially unimproved for the use intended by the Corporation) all or part of the cost of improvement thereof, or to secure Debt incurred to provide funds for any such purpose; (d) Mortgages which secure only Debt owing by a Subsidiary to the Corporation or a Subsidiary; (e) Mortgages in favor of the United States of America, any State, any foreign country, or any department, agency, instrumentality, or political subdivision of any such jurisdiction, to secure partial, progress, advance or other payments pursuant to any contract or statute or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price of property acquired or cost of construction of property constructing or cost of additions, substantial repairs, alterations or improvements or property, if the Indebtedness and the related Mortgages are incurred within 12 months of the later of the acquisition or completion of construction and full operation or additions, repairs, alterations or improvements; (2) Mortgages existing on property at the time of its acquisition by the Issuer or a Subsidiary or on improving the property of a Person at the time of the acquisition of such Person by the Issuer or a Subsidiary (including acquisitions through merger or consolidation); (3) subject thereto, including, without limitation, Mortgages to secure Indebtedness on which the interest payments to holders Debt of the related indebtedness are excludable from gross income for federal income tax purposes under Section 103 of the Code;pollution control or industrial revenue bond type; or (4f) Mortgages in favor of the Issuer or any Subsidiary; (5) Mortgages existing on the date of this Indenture; (6) Mortgages in favor of a government or governmental entity that (i) secure Indebtedness which is guaranteed by the government or governmental entity, (ii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of goods, products or facilities produced under contract or subcontract for the government or governmental entity, or (iii) secure Indebtedness incurred to finance all or some of the purchase price or cost of construction of the property subject to the Mortgage; (7) Mortgages incurred in connection with the borrowing of funds where such funds are used to repay, within 120 days after entering into such Mortgage, Indebtedness in the same principal amount secured by other Mortgages on Principal Property with at least the same appraised fair market value; and (8) any extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of any Mortgage referred to in the foregoing clauses (1a) through to (7e) aboveinclusive or of any Debt secured thereby, provided that the principal amount of Debt secured is thereby shall not increased exceed the principal amount of Debt so secured at the time of such extension, renewal or replacement, and that such extension, renewal or replacement Mortgage relates shall be limited to all or part of the same property which secured the Mortgage extended, renewed or replaced (plus improvements on such property. (b) ). Notwithstanding the foregoing provisions of this Section 4.12(a)1005, the Issuer Corporation and its any one or more Subsidiaries owning Restricted Property may issue, assume or guarantee Indebtedness Debt secured by Mortgages pursuant which would otherwise be subject to the foregoing restrictions in an aggregate principal amount which, together with the aggregate outstanding principal amount of all other Debt of the Corporation and its Subsidiaries owning Restricted Property which would otherwise be subject to the foregoing restrictions (not including Debt permitted to be secured under clauses (a) to (f) inclusive above) and the aggregate Value of the Sale and Lease-Back Transactions in existence at such time (not including Sale and Lease-Back Transactions as to which the Corporation has complied with Section 4.141006 (b), does not at any one time exceed 10% of the Consolidated Net Tangible Assets of the Corporation and its consolidated Subsidiaries. The following types of transaction, among others, shall not be deemed to create Debt secured by Mortgages: (1) the sale or other transfer of oil, gas or other minerals in place for a period of time until, or in an amount such that, the transferee will realize therefrom a specified amount (however determined) of money or such minerals, or the sale or other transfer of any other interest in property of the character commonly referred to as a production payment, and (2) Mortgages required by any contract or statute in order to permit the Corporation or a Subsidiary to perform any contract or subcontract made by it with or at the request of the United States of America, any State, any foreign country or any department, agency or instrumentality of any of the foregoing.