Common use of Limitation on Subsidiary Indebtedness Clause in Contracts

Limitation on Subsidiary Indebtedness. At the end of any calendar quarter commencing April 1, 2006, the Borrower will not permit the aggregate Indebtedness of all of the Borrower's consolidated Subsidiaries to be greater than 25% of Consolidated Tangible Net Worth at such date; provided that, for purpose of this Section, Indebtedness of a Subsidiary shall not include: (i) any Indebtedness outstanding at March 31, 2006 and described on Schedule 6.10 attached hereto; (ii) any Indebtedness secured by Permitted Liens; (iii) any Indebtedness of the Borrower's Banking Subsidiaries; (iv) Indebtedness of any Subsidiary the ownership of which is acquired by the Borrower, directly or indirectly, after the date hereof, or which is established by the Borrower after the date hereof for the purpose of acquiring assets or equity of any Person not owned, directly or indirectly, by the Borrower on the date hereof; provided that, such Indebtedness is not guarantied by, is not secured by assets (other than assets of such Subsidiary) of, and does not otherwise have recourse to the Borrower or its assets (other than the assets of such Subsidiary); and (v) any Indebtedness of a Subsidiary to another Subsidiary or to the Borrower.

Limitation on Subsidiary Indebtedness. At the end of any calendar ------------------------------------- quarter commencing April 1December 31, 20061997, the Borrower Company will not permit the aggregate Indebtedness of all of the BorrowerCompany's consolidated Subsidiaries to be greater than 25% of Consolidated Tangible Net Worth at such date; provided that, for purpose of this SectionSubsection, Indebtedness of a Subsidiary shall not include: (i) any Indebtedness outstanding at March December 31, 2006 and described on Schedule 6.10 attached hereto1996; (ii) any Indebtedness secured by Permitted LiensLiens ; (iii) any Indebtedness of the BorrowerCompany's Banking Subsidiaries; (iv) Indebtedness of any Subsidiary the ownership of which is acquired by the BorrowerCompany, directly or indirectly, after the date hereof, or which is established by the Borrower Company after the date hereof for the purpose of acquiring assets or equity of any Person not owned, directly or indirectly, by the Borrower Company on the date hereof; provided provided, that, such Indebtedness is not guarantied by, is not secured by assets (other than assets of such Subsidiary) of, and does not otherwise have recourse to the Borrower Company or its assets (other than the assets of such Subsidiary); and (v) any Indebtedness of a Subsidiary to another Subsidiary or to the BorrowerCompany.

Limitation on Subsidiary Indebtedness. At the end of any calendar quarter commencing April 1after December 31, 20061996, the Borrower Company will not permit the aggregate Indebtedness of all of the BorrowerCompany's consolidated Subsidiaries to be greater than 25% of Consolidated Tangible Net Worth at such date; provided that, for purpose of this SectionSubsection, Indebtedness of a Subsidiary shall not include: : (i) any Indebtedness outstanding at March December 31, 2006 and described on Schedule 6.10 attached hereto; 1996; (ii) any Indebtedness secured by Permitted Liens; Liens ; (iii) any Indebtedness of the BorrowerCompany's Banking Subsidiaries; ; (iv) Indebtedness of any Subsidiary the ownership of which is acquired by the BorrowerCompany, directly or indirectly, after the date hereof, or which is established by the Borrower Company after the date hereof for the purpose of acquiring assets or equity of any Person not owned, directly or indirectly, by the Borrower Company on the date hereof; provided provided, that, such Indebtedness is not guarantied by, is not secured by assets (other than assets of such Subsidiary) of, and does not otherwise have recourse to the Borrower Company or its assets (other than the assets of such Subsidiary); and and (v) any Any Indebtedness of a Subsidiary to another Subsidiary or to the BorrowerCompany.

Limitation on Subsidiary Indebtedness. At the end of any calendar quarter commencing April 1March 31, 20062000, the Borrower Company will not permit the aggregate Indebtedness of all of the BorrowerCompany's consolidated Subsidiaries to be greater than 25% of Consolidated Tangible Net Worth at such date; provided that, for purpose of this Section, Indebtedness of a Subsidiary shall not include: (i) any Indebtedness outstanding at March 31, 2006 and described on Schedule 6.10 attached hereto2000; (ii) any Indebtedness secured by Permitted LiensLiens ; (iii) any Indebtedness of the BorrowerCompany's Banking Subsidiaries; (iv) Indebtedness of any Subsidiary the ownership of which is acquired by the BorrowerCompany, directly or indirectly, after the date hereof, or which is established by the Borrower Company after the date hereof for the purpose of acquiring assets or equity of any Person not owned, directly or indirectly, by the Borrower Company on the date hereof; provided provided, that, such Indebtedness is not guarantied by, is not secured by assets (other than assets of such Subsidiary) of, and does not otherwise have recourse to the Borrower Company or its assets (other than the assets of such Subsidiary); and (v) any Indebtedness of a Subsidiary to another Subsidiary or to the BorrowerCompany.

Limitation on Subsidiary Indebtedness. At the end of any calendar ---------- -- ---------- ------------ quarter commencing April January 1, 20062003, the Borrower Company will not permit the aggregate Indebtedness of all of the BorrowerCompany's consolidated Subsidiaries to be greater than 25% of Consolidated Tangible Net Worth at such date; provided that, for purpose of this Section, Indebtedness of a Subsidiary shall not include: (i) any Indebtedness outstanding at March December 31, 2006 and described on Schedule 6.10 attached hereto2002; (ii) any Indebtedness secured by Permitted LiensLiens ; (iii) any Indebtedness of the BorrowerCompany's Banking Subsidiaries; (iv) Indebtedness of any Subsidiary the ownership of which is acquired by the BorrowerCompany, directly or indirectly, after the date hereof, or which is established by the Borrower Company after the date hereof for the purpose of acquiring assets or equity of any Person not owned, directly or indirectly, by the Borrower Company on the date hereof; provided provided, that, such Indebtedness is not guarantied by, is not secured by assets (other than assets of such Subsidiary) of, and does not otherwise have recourse to the Borrower Company or its assets (other than the assets of such Subsidiary); and (v) any Indebtedness of a Subsidiary to another Subsidiary or to the BorrowerCompany.