Common use of Limitation on Mortgages Clause in Contracts

Limitation on Mortgages. Nothing in this Agreement or in the Notes (if any) shall in any way restrict or prevent the Company or any Subsidiary from incurring any indebtedness; provided that the Company covenants and agrees that neither it nor any 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 then existing and any other indebtedness or obligation thereafter created ranking equally with the Loans) shall be secured equally and ratably with (or prior to) such Debt so long as such Debt shall be so secured, except that the foregoing provisions shall not apply to: (a) Mortgages 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 or cost of constructing or improving the property subject thereto, including, without limitation, Mortgages to secure Debt of the pollution control or industrial revenue bond type; or (f) 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 (a) to (e) inclusive 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, renewal or replacement, and that such extension, renewal or replacement Mortgage 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). Notwithstanding the foregoing provisions of this Section, the Company and any one or more Restricted Subsidiaries may issue, assume or guarantee Debt secured by Mortgages 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 5.03 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 Agreement Indenture or in the Notes (if any) shall in any way restrict or prevent the Company Issuer or any Subsidiary from incurring any indebtednessIndebtedness; provided provided, however, that if at any time, pursuant to Section 4.15, the Company covenants Issuer and agrees that the Subsidiaries are not subject to the Terminated Covenants, subject to Section 4.14, neither it the Issuer nor any Restricted Subsidiary of its Subsidiaries 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 then existing and secured by Mortgages upon any other indebtedness or obligation thereafter created ranking equally with Principal Property, unless the Loans) Notes shall be secured equally and ratably with (or prior to) such Debt so long as such Debt shall be so secured, except that the foregoing provisions shall Indebtedness. This restriction will not apply to: (a1) Mortgages 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 securing all or any part of the purchase price of property acquired or cost of constructing construction of property or improving 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 thereto, including, without limitation, Mortgages to secure Debt of the pollution control or industrial revenue bond type; orMortgage; (f7) 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 (a1) to through (e7) inclusive or of any Debt above, provided the amount secured thereby; provided that the principal amount of Debt secured thereby shall is not exceed the principal amount of Debt so secured at the time of such extension, renewal or replacement, increased and that such extension, renewal or replacement Mortgage shall be limited relates to all or part of substantially the same property which secured the Mortgage extended, renewed or replaced property. (plus improvements on such propertyb) Notwithstanding Section 4.12(a). Notwithstanding the foregoing provisions of this Section, the Company Issuer and any one or more Restricted its Subsidiaries may issue, assume or guarantee Debt Indebtedness secured by Mortgages which would otherwise be subject pursuant 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 5.03 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 either4.14.

Limitation on Mortgages. Nothing in The Company will not, nor will it permit any Restricted Subsidiary to, create, assume, incur or suffer to exist (i) any Mortgage upon any stock or indebtedness of any Restricted Subsidiary, whether owned on the date of this Agreement Indenture or in the Notes (if any) shall in hereafter acquired, to secure any way restrict or prevent Debt of the Company or any Subsidiary from incurring any indebtedness; provided that other Person (other than the Company covenants Securities), and agrees that neither it nor any Restricted Subsidiary will issue, assume or guarantee any Debt secured by (ii) any Mortgage upon any Restricted Property 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 effectively providing that in any such case making effective provision whereby all of the Loans of all of the Borrowers (together with, if the Company so determines, any other indebtedness or obligation then existing and any other indebtedness or obligation thereafter created ranking equally with the Loans) Securities Outstanding shall be directly secured equally and ratably with (or prior to) such Debt so long as such Debt shall be so securedDebt, except that excluding, however, from the operation of the foregoing provisions shall not apply to: (a) Mortgages affecting property of a this Section 1006 any Mortgage upon stock or indebtedness of any corporation existing at the time it such corporation becomes a Subsidiary, or existing upon stock or indebtedness of 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 of such stock or incurred to secure payment of all or part of the purchase price thereof or to secure Debt incurred prior toindebtedness, 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 or cost of constructing or improving the property subject thereto, including, without limitation, Mortgages to secure Debt of the pollution control or industrial revenue bond type; or (f) and any extension, renewal or replacement (or successive extensions, renewals or replacements), ) in whole or in part, part of any Mortgage referred to in the foregoing clauses (a) to (e) inclusive or of any Debt secured therebysuch Mortgage; provided provided, however, that the principal amount of Debt secured thereby shall not exceed the principal amount of Debt so secured at the time of such extension, renewal or replacement; and provided further, and that such extension, renewal or replacement Mortgage shall be limited to all or such part of substantially the same property stock or indebtedness which secured the Mortgage so extended, renewed or replaced (plus improvements on such property)replaced. Notwithstanding the foregoing provisions of this Sectionforegoing, the Company may, and may permit any one Restricted Subsidiary to, create, assume, incur or more Restricted Subsidiaries may issue, assume or guarantee suffer to exist (i) any Permitted Mortgages and (ii) any Mortgage upon any Principal Property without equally and ratably securing the Senior Debt secured by Mortgages 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 Securities if the aggregate outstanding principal amount of all Debt then outstanding secured by such Mortgage and all similar Mortgages does not exceed 15% of the total consolidated stockholders' equity (including preferred stock) of the Company and as shown on the Restricted Subsidiaries which would otherwise be subject audited consolidated balance sheet contained in the latest annual report to the foregoing restrictions (not including Debt permitted to be secured under clauses (a) to (f) inclusive above) and the aggregate Value stockholders of the Sale and Lease-Back Transactions (as such terms are defined in Section 5.03 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, Company; provided that Debt secured by Permitted Mortgages shall not be deemed to create Debt included in the amount of such 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 eitherDebt.

Limitation on Mortgages. Nothing in this Agreement or in the Notes (if any) shall in any way restrict or prevent the Company or any Subsidiary from incurring any indebtedness; provided that the The Company covenants and agrees that that, so long as any of the Securities shall be outstanding, neither it nor any Subsidiary owning Restricted Subsidiary Property will issue, assume or guarantee any Debt secured by any Mortgage Mortgages upon any Restricted Property 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 then existing and any other indebtedness or obligation thereafter created ranking equally with the Loans) outstanding Securities shall be secured equally and ratably with (or prior to) such Debt so long as such Debt shall be so secured, except that the foregoing provisions shall not apply to: (a) Mortgages affecting property of the Company in effect as of the date hereof or 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 SubsidiarySubsidiary 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 exploration, drilling or development thereof or, or (in the case of property which is, in the opinion of the Company’s Board of Directors of the CompanyDirectors, 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 another Subsidiarya Subsidiary of the Company; (e) Mortgages in favor of the United States of America or America, any state thereof State, any foreign country or any department, agency, instrumentality or political subdivision of any such jurisdiction 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 or cost of constructing or improving the property subject thereto, including, without limitation, Mortgages to secure Debt of the pollution control or industrial revenue bond type; or (f) 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 (a) to (e) inclusive 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, renewal or replacement, and that such extension, renewal or replacement Mortgage 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). Notwithstanding the foregoing provisions of this SectionSection 4.05, the Company and any one or more of its Subsidiaries owning Restricted Subsidiaries Property may issue, assume or guarantee Debt secured by Mortgages 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 other Debt of the Company and the its Subsidiaries owning Restricted Subsidiaries 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 4.06) of the Sale and Lease-Back Transactions (as such terms are defined in Section 5.03 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) hereof4.06(b), does not at any one time exceed 10% of the Consolidated Net Tangible Assets of the Company and its Consolidated consolidated Subsidiaries. The following types of transaction, among 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 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 State, any foreign country or any department, agency or instrumentality, or political subdivision instrumentality of eitherany of the foregoing shall not be deemed to create Debt secured by Mortgages.

Limitation on Mortgages. Nothing in this Agreement or in the Notes (if any) shall in any way restrict or prevent the Company or any Subsidiary from incurring any indebtedness; provided that the Company The Corporation covenants and agrees that that, so long as any of the Debentures shall be Outstanding, neither it nor any Subsidiary owning Restricted Subsidiary Property will issue, assume or guarantee any Debt secured by any Mortgage Mortgages upon any Restricted Property 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 then existing and any other indebtedness or obligation thereafter created ranking equally with the Loans) Outstanding Debentures shall be secured equally and ratably with (or prior to) such Debt so long as such Debt shall be so secured, except that the foregoing provisions shall not apply to: (a) Mortgages affecting property of the Corporation in effect as of the date hereof or 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 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, or (in the case of property which is, in the opinion of the Board of Directors of the CompanyDirectors, substantially unimproved for the use intended by the Company, 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 Company Corporation or another a Subsidiary; (e) Mortgages in favor of the United States of America or America, any state thereof State, any foreign country, or any department, agency, instrumentality instrumentality, or political subdivision of any such jurisdiction 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 or cost of constructing or improving the property subject thereto, including, without limitation, Mortgages to secure Debt of the pollution control or industrial revenue bond type; or (f) 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 (a) to (e) inclusive 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, renewal or replacement, and that such extension, renewal or replacement Mortgage 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). Notwithstanding the foregoing provisions of this SectionSection 1005, the Company Corporation and any one or more Subsidiaries owning Restricted Subsidiaries Property may issue, assume or guarantee Debt secured by Mortgages 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 other Debt of the Company Corporation and the its Subsidiaries owning Restricted Subsidiaries 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 (as such terms are defined in Section 5.03 hereof) in existence at such time (not including Sale and Lease-Back Transactions as to which the Company Corporation has complied with Section 5.03(b) hereof1006 (b), does not at any one time exceed 10% of the Consolidated Net Tangible Assets of the Company Corporation and its Consolidated consolidated Subsidiaries. The following types of transaction, among others, shall not be deemed to create Debt secured by MortgageMortgages: (i1) 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 (ii2) Mortgages required by any contract or statute in order to permit the Company 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 State, any foreign country or any department, agency or instrumentality, or political subdivision instrumentality of eitherany of the foregoing.

Limitation on Mortgages. Nothing in this Agreement or in the Notes (if any) shall in any way restrict or prevent the Company or any Subsidiary from incurring any indebtedness; provided that the The Company covenants and agrees that that, so long as any of the Securities shall be outstanding, neither it nor any Subsidiary owning Restricted Subsidiary Property will issue, assume or guarantee any Debt secured by any Mortgage Mortgages upon any Restricted Property 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 then existing and any other indebtedness or obligation thereafter created ranking equally with the Loans) outstanding Securities shall be secured equally and ratably with (or prior to) such Debt so long as such Debt shall be so secured, except that the foregoing provisions shall not apply to: (a) Mortgages affecting property of the Company in effect as of the date hereof or 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 SubsidiarySubsidiary 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 exploration, drilling or development thereof or, or (in the case of property which is, in the opinion of the Company’s Board of Directors of the CompanyDirectors, 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 another Subsidiarya Subsidiary of the Company; (e) Mortgages in favor of the United States of America or America, any state thereof State, any foreign country or any department, agency, instrumentality or political subdivision of any such jurisdiction 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 or cost of constructing or improving the property subject thereto, including, without limitation, Mortgages to secure Debt of the pollution control or industrial revenue bond type; or (f) 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 (a) to (e) inclusive 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, renewal or replacement, and that such extension, renewal or replacement Mortgage 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). Notwithstanding the foregoing provisions of this SectionSection 4.05, the Company and any one or more of its Subsidiaries owning Restricted Subsidiaries Property may issue, assume or guarantee Debt secured by Mortgages 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 other Debt of the Company and the its Subsidiaries owning Restricted Subsidiaries Property which would otherwise be subject to the foregoing restrictions (not including Debt permitted to be secured under clauses (a) to (fe) inclusive above) and the aggregate Value (as defined in Section 4.06) of the Sale and Lease-Back Transactions (as such terms are defined in Section 5.03 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) hereof4.06(b), does not at any one time exceed 10% of the Consolidated Net Tangible Assets of the Company and its Consolidated consolidated Subsidiaries. The following types of transaction, among 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 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 State, any foreign country or any department, agency or instrumentality, or political subdivision instrumentality of eitherany of the foregoing shall not be deemed to create Debt secured by Mortgages.