Common use of Limitation on Secured Indebtedness Clause in Contracts

Limitation on Secured Indebtedness. The Borrower shall not, and shall not permit any Subsidiary to, create, incur, assume or suffer to exist any Indebtedness secured directly or indirectly by assets of the Borrower or any Subsidiary other than the following: (a) secured Indebtedness listed on Schedule 7.06 (including any extensions, renewals and refinancings thereof so long as the principal amount thereof is not increased); (b) Capital Leases and purchase money financings on assets subject to such leases or financings in an aggregate amount not to exceed $100,000,000 at any time outstanding; provided that, this clause (b) shall not restrict Indebtedness under any landfill lease operating agreements entered into in the ordinary course of business, whether or not such landfill lease operating agreements are classified as Capital Leases; (c) Indebtedness supported by letters of credit; (d) other Indebtedness secured by Liens permitted by Section 7.02(k); and (e) in the case of any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any Republic Insurance Entity, Indebtedness secured directly or indirectly by the assets of such Person or its Subsidiaries.

Limitation on Secured Indebtedness. The Borrower shall not, and shall not permit any Subsidiary to, create, incur, assume or suffer to exist any Indebtedness secured directly or indirectly by assets of the Borrower or any Subsidiary other than the following: (a) secured Indebtedness listed on Schedule 7.06 (as such Schedule may be updated on the Initial Funding Date) (including any extensions, renewals and refinancings thereof so long as the principal amount thereof is not increased); (b) Capital Leases and purchase money financings on assets subject to such leases or financings in an aggregate amount not to exceed $100,000,000 at any time outstanding; provided that, this clause (b) shall not restrict Indebtedness under any landfill lease operating agreements entered into in the ordinary course of business, whether or not such landfill lease operating agreements are classified as Capital Leases; (c) Indebtedness supported by letters of credit; (d) Indebtedness under the Allied Securitization Program (including any extension, renewal and refinancing thereof) so long as the maximum outstanding principal amount thereof does not exceed $400,000,000; (e) other secured Indebtedness secured by Liens permitted by Section 7.02(k)not exceeding in the aggregate at any time an outstanding amount of $75,000,000; and (ef) in the case of any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any Republic Insurance Entity, Indebtedness secured directly or indirectly by the assets of such Person or its Subsidiaries.

Limitation on Secured Indebtedness. The Borrower shall not, and shall not permit any Subsidiary to, create, incur, assume or suffer to exist any Indebtedness secured directly or indirectly by assets of the Borrower or any Subsidiary other than the following: (a) secured Indebtedness listed on Schedule 7.06 (as such Schedule may be updated on the Allied Acquisition Date) (including any extensions, renewals and refinancings thereof so long as the principal amount thereof is not increased); (b) Capital Leases and purchase money financings on assets subject to such leases or financings in an aggregate amount not to exceed $100,000,000 at any time outstanding; provided that, this clause (b) shall not restrict Indebtedness under any landfill lease operating agreements entered into in the ordinary course of business, whether or not such landfill lease operating agreements are classified as Capital Leases; (c) Indebtedness supported by letters of credit; (d) Indebtedness under the Allied Securitization Program (including any extension, renewal and refinancing thereof) so long as the maximum outstanding principal amount thereof does not exceed $400,000,000; (e) other secured Indebtedness secured by Liens permitted by Section 7.02(k)not exceeding in the aggregate at any time an outstanding amount of $75,000,000; and (ef) in the case of any Allied Unrestricted Subsidiary, any Securitization Subsidiary or any Republic Insurance Entity, Indebtedness secured directly or indirectly by the assets of such Person or its Subsidiaries.