LIMITATION ON RANKING OF FUTURE INDEBTEDNESS Sample Clauses

LIMITATION ON RANKING OF FUTURE INDEBTEDNESS. The Company will not incur (as such term is defined in Section 1007(a)) or permit to remain outstanding any Indebtedness for Money Borrowed (including Acquired Indebtedness and Permitted Indebtedness) which is expressly subordinate in right of payment to any Senior Indebtedness, other than Subordinated Indebtedness or Pari Passu Indebtedness. For purposes of this Section 1013, the incurrence of Senior Indebtedness which is unsecured shall not, because of its unsecured status, be deemed to be subordinate in right of payment to any Senior Indebtedness which is secured.
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LIMITATION ON RANKING OF FUTURE INDEBTEDNESS. The Company shall not, directly or indirectly, incur, create, assume, guarantee or otherwise become liable for any Indebtedness which is subordinated in right of payment to any Senior Debt of the Company and senior in right of payment to the Securities.
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LIMITATION ON RANKING OF FUTURE INDEBTEDNESS. The Company will not, directly or indirectly, incur, create, assume or guarantee any Indebtedness for Money Borrowed which is not Senior Indebtedness (other then Subordinated Indebtedness that is pari passu or subordinate in right of payment to the Securities).
Sample 1
LIMITATION ON RANKING OF FUTURE INDEBTEDNESS. The Company will not, directly or indirectly, incur, create, assume or guarantee any Funded Recourse Debt that is senior in right of payment to the Notes.
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LIMITATION ON RANKING OF FUTURE INDEBTEDNESS. The Borrowers shall not, directly or indirectly, incur, create, or suffer to exist an Indebtedness which is subordinate or junior in right of payment (to any extent) to any Existing Debt and which is senior or superior or pari passu in right of payment (to any extent) to the Notes (or any guaranty of the Notes).
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LIMITATION ON RANKING OF FUTURE INDEBTEDNESS. The Issuer shall not, and shall cause each of its Subsidiaries (other than Reit and its Subsidiaries) to not, directly or indirectly, incur, create, or suffer to exist any Indebtedness unless, by its terms or by the terms of the instrument creating or evidencing it, such Indebtedness (A) has a maturity and Weighted Average Life to Maturity longer than the Notes and (B) is subordinate or junior in right of payment to the Notes (or in the case of a Guarantor, to the Subsidiary Guaranty).
Sample 1
LIMITATION ON RANKING OF FUTURE INDEBTEDNESS. The Company shall not and shall not permit any of its Subsidiaries to, directly or indirectly, incur, create, or suffer to exist any Indebtedness which is subordinate or junior in right of payment (to any extent) to any Senior Indebtedness of the Company or a Subsidiary Guarantor (other than a class of Senior Indebtedness that is subordinate or junior in right of payment to any other class of Senior Indebtedness) unless, by its terms or by the terms of the instrument creating or evidencing it, such Indebtedness (a) has a maturity and Weighted Average Life to Maturity longer than the Notes and (b) is subordinate or junior in right of payment to the Notes (or, in the case of a Subsidiary Guarantor, to the Subsidiary Guaranty).
Sample 1
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Related to LIMITATION ON RANKING OF FUTURE INDEBTEDNESS

  • Limitation on Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except:

  • Limitation on Additional Indebtedness The Company shall not, and shall not permit any Restricted Subsidiary or Restricted Affiliate to, directly or indirectly, create, incur, assume, issue, guarantee or in any manner become directly or indirectly liable for or with respect to, contingently or otherwise, the payment of (collectively to "incur") any Indebtedness (including any Acquired Indebtedness), except for Permitted Indebtedness; provided, that (A)(i) the Company will be permitted to incur Indebtedness (including Acquired Indebtedness and Buildout Indebtedness) and (ii) a Restricted Subsidiary or Restricted Affiliate will be permitted to incur Acquired Indebtedness or Buildout Indebtedness, if, in either case, immediately after giving pro forma effect to such incurrence (including the application of the net proceeds therefrom), either (X) the ratio of Total Consolidated Indebtedness to Consolidated Pro Forma Operating Cash Flow would not be greater than or equal to 5.5 to 1.0 if such Indebtedness is incurred prior to October 15, 2000 or 5.0 to 1.0 if such Indebtedness is incurred on or after October 15, 2000 or (Y) the ratio of Total Consolidated Indebtedness to Total Invested Equity Capital would not exceed 2.0 to 1.0 and (B) on or after October 15, 2002, a Restricted Affiliate will be permitted to incur Acquired Indebtedness or Buildout Indebtedness, if, after giving pro forma effect to such incurrence (including the application of the net proceeds therefrom), the ratio of Total Affiliate Indebtedness to Affiliate Pro Forma Operating Cash Flow of such Restricted Affiliate would not be greater than or equal to 4.0 to 1.0. For purposes of determining compliance with this Section 10.11, in the event that an item of Indebtedness meets the criteria of more than one of the types of Indebtedness permitted by this covenant, the Company in its sole discretion shall classify such item of Indebtedness and only be required to include the amount of such Indebtedness as one of such types.

  • Limitation on Secured Debt The Company will not, and will not permit any of its Subsidiaries to, incur any Debt (including, without limitation, Acquired Debt) secured by any Lien on any of its or any of its Subsidiaries’ property or assets, whether owned on the date of the Indenture or subsequently acquired, if, immediately after giving effect to the incurrence of such Debt and the application of the proceeds from such Debt on a pro forma basis, the aggregate principal amount of all of the Company’s and its Subsidiaries’ outstanding Debt which is secured by a Lien on any of its or its Subsidiaries’ property or assets is greater than 40% of the sum of (without duplication): (1) the Company’s and its Subsidiaries’ Total Assets as of the last day of the then most recently ended fiscal quarter covered in the Parent’s annual or quarterly report most recently furnished to Holders of the Notes or filed with the SEC, as the case may be; and (2) the aggregate purchase price of any real estate assets or mortgages receivable acquired, and the aggregate amount of any securities offering proceeds received (to the extent such proceeds were not used to acquire real estate assets or mortgages receivable or used to reduce Debt), by the Company or any of its Subsidiaries since the end of such fiscal quarter, including the proceeds obtained from the incurrence of such additional Debt and any substantially concurrent offering of other securities.

  • Limitations on Indebtedness Create, incur, assume or suffer to exist any Indebtedness except:

  • Limitation on Guarantees of Indebtedness by Restricted Subsidiaries The Issuer shall not permit any of its Wholly-Owned Subsidiaries that are Restricted Subsidiaries (and non-Wholly-Owned Subsidiaries if such non-Wholly-Owned Subsidiaries guarantee other capital markets debt securities of the Issuer or any Guarantor), other than a Guarantor, a Foreign Subsidiary or a Securitization Subsidiary, to guarantee the payment of any Indebtedness of the Issuer or any other Guarantor unless:

  • Limitation on Restricted Payments (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly:

  • Limitation on Debt Create, incur, assume or suffer to exist any Debt, except:

  • Limitation on Issuances of Guarantees of Indebtedness The Company shall not permit any Restricted Subsidiary, directly or indirectly, to Guarantee or pledge any assets to secure the payment of any other Indebtedness of the Company unless such Subsidiary simultaneously executes and delivers a supplemental indenture to this Indenture governing the Notes providing for the Guarantee of the payment of the Notes by such Subsidiary, which Guarantee shall be senior to or pari passu with such Subsidiary's Guarantee of or pledge to secure such other Indebtedness. Notwithstanding the foregoing, any Guarantee by a Subsidiary of the Notes shall provide by its terms that it shall be automatically and unconditionally released and discharged upon any sale, exchange or transfer, to any Person other than a Subsidiary of the Company, of all of the Company's stock in, or all or substantially all the assets of, such Subsidiary, which sale, exchange or transfer is made in compliance with the applicable provisions of this Indenture. The form of such Guarantee is attached as Exhibit C hereto.

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