Common use of Limitation on Senior Debt Clause in Contracts

Limitation on Senior Debt. The Company will not, and will not permit any Restricted Subsidiary to, create, incur or assume, or directly or indirectly guarantee or in any other manner become directly or indirectly liable for the payment of, any Senior Debt (including Acquired Debt constituting Senior Debt), other than Permitted Debt, if, on the date of such incurrence and after giving effect to the incurrence of such Senior Debt or Acquired Debt constituting Senior Debt and the receipt and application of the proceeds thereof (and, if the proceeds of such new Senior Debt are used to acquire a Person that becomes a Restricted Subsidiary or an operating business, after giving effect to all terms of such acquisition, including all reorganizations of indebtedness effected prior to or at the time of completion of such acquisition), the Consolidated Senior Debt to Annualized Operating Cash Flow Ratio would be greater than 6.0 to 1.0. For purposes of this Section 1009, the transfer of Senior Debt of the Company or a Restricted Subsidiary held by the Company or a Restricted Subsidiary to any Person (other than the Company or a Restricted Subsidiary) shall be deemed to be an incurrence of Senior Debt.

Limitation on Senior Debt. The Company will not, and will not permit any Restricted Subsidiary to, create, incur or assume, or directly or indirectly guarantee or in any other manner become directly or indirectly liable for the payment of, any Senior Debt (including Acquired Debt constituting Senior Debt), other than Permitted Debt, if, on the date of such incurrence and after giving effect to the incurrence of such Senior Debt or Acquired Debt constituting Senior Debt and the receipt and application of the proceeds thereof (and, if the proceeds of such new Senior Debt are used to acquire a Person that becomes a Restricted Subsidiary or an operating business, after giving effect to all terms of such acquisition, including all reorganizations of indebtedness effected prior to or at the time of completion of such acquisition), the Consolidated Senior Debt to Annualized Operating Cash Flow Ratio would be greater than 6.0 to 1.0. For purposes of this Section 10091008, the transfer of Senior Debt of the Company or a Restricted Subsidiary held by the Company or a Restricted Subsidiary to any Person (other than the Company or a Restricted Subsidiary) shall be deemed to be an incurrence of Senior Debt.