Limitation on Priority Indebtedness. The Company will not at any time permit Priority Indebtedness to exceed 15% of Consolidated Total Assets.
Limitation on Priority Indebtedness. Neither the Company nor the Trust will permit the ratio of (a) the sum of (i) Secured Indebtedness of the Trust, the Company and their Subsidiaries plus (ii) Unsecured Indebtedness of Subsidiaries which are not Subsidiary Guarantors to (b) Consolidated Total Adjusted Asset Value, to exceed 40%.
Limitation on Priority Indebtedness. The Company will not permit Priority Indebtedness to exceed 20% of Total Capitalization determined as of the end of each fiscal quarter of the Company.
Limitation on Priority Indebtedness. The Obligors will not permit Priority Indebtedness at any time to exceed 15% of the difference between (a) Consolidated Total Assets and (b) an amount bearing the same percentage to the assets of the CLO Subsidiaries as the aggregate Non-Recourse CLO Subsidiary Indebtedness bears to the aggregate Indebtedness of the CLO Subsidiaries (in each case, calculated as of the end of the most recently ended fiscal quarter for which financial statements have been delivered pursuant to Section 7.1).
Limitation on Priority Indebtedness. Section 10.7(b) of the Note Purchase Agreement is hereby amended and restated in its entirety as follows: The Obligors will not permit Priority Indebtedness at any time to exceed 15% of the difference between (a) Consolidated Total Assets and (b) the assets of the CLO Subsidiaries (in each case, calculated as of the end of the most recently ended fiscal quarter for which financial statements have been delivered pursuant to Section 7.1).
Limitation on Priority Indebtedness. The Obligors will not permit Priority Indebtedness at any time to exceed 15% of Consolidated Total Assets (calculated as of the end of the most recently ended fiscal quarter for which financial statements have been delivered pursuant to Section 7.1).
Limitation on Priority Indebtedness. (a) The Company will not, and will not permit any Restricted Subsidiary to, create, assume, guarantee or otherwise incur or in any manner become liable in respect of any Priority Indebtedness if, after giving effect thereto and to the application of the proceeds thereof, the aggregate amount of all Priority Indebtedness then outstanding would exceed 30% of Members' Equity.
(b) Any Person which becomes a Restricted Subsidiary after the date hereof shall for all purposes of Section 10.4 be deemed to have created, assumed, guaranteed or otherwise incurred at the time it becomes a Restricted Subsidiary all Priority Indebtedness of such Person existing immediately after it becomes a Restricted Subsidiary.
Limitation on Priority Indebtedness. The Company will not, at any time, or at any time permit any Restricted Subsidiary to, incur, issue, assume or in any other manner become liable in respect of any Priority Indebtedness, unless (i) immediately prior to the creation thereof, and after giving effect thereto and to any concurrent retirement of any other Priority Indebtedness, the aggregate amount of Priority Indebtedness would not exceed 15% of Consolidated Total Assets at such time, and (ii) no Default or Event of Default would exist.
Limitation on Priority Indebtedness. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, create, incur, assume, guarantee, or otherwise become directly or indirectly liable with respect to any Priority Indebtedness, unless on the date the Borrower or such Subsidiary becomes liable with respect to any such Priority Indebtedness and immediately after giving effect thereto and the concurrent retirement of any other Priority Indebtedness, (i) no Default or Event of Default would exist; and (ii) the sum, without duplication, of (x) the aggregate outstanding principal amount of Indebtedness secured by Liens permitted by clause (viii) of the Definition of Permitted Liens plus (y) the aggregate outstanding principal amount of Priority Indebtedness, would not exceed the greater of (A) $11,000,000, and (B) 20% of Net Worth at such time.
Limitation on Priority Indebtedness. 28 SECTION 10.7. MINIMUM INTEREST COVERAGE RATIO ..................................................... 28 SECTION 10.8. MAXIMUM DEBT TO CAPITAL RATIO ......................................................... 28 SECTION 10.9. CONSOLIDATED TANGIBLE NET WORTH .................................................... 28 SECTION 10.10. TRANSACTIONS WITH AFFILIATES ............................................................ 28 SECTION 10.11.
