Limitations on Debt Prepayments. (a) Optionally prepay, repurchase or redeem or otherwise defease or segregate funds with respect to any Indebtedness for borrowed money (other than Indebtedness under the Loan Documents) of JSC, JSCE, the Borrower or any of their respective Subsidiaries; provided, however, that the foregoing shall not prevent the Borrower from (i) making any payment pursuant to Section 2.12 or 2.13, (ii) refinancing all or any portion of the 1993 Senior Notes, the 8-Year Senior Notes or the 10-Year Senior Notes on terms permitted by Section 7.01(d), (iii) repurchasing all or any portion of the 10-Year Senior Notes pursuant to the call provision of the 10-Year Senior Note Indenture or (iv) optionally prepaying, redeeming or repurchasing in the open market any Indebtedness for borrowed money of the Borrower or any of its Subsidiaries not otherwise permitted under clause (i), (ii) or (iii) above in an aggregate amount not to exceed $200,000,000.
(b) Permit any amendment, waiver or modification to the terms of the Senior Note Indentures, the 1993 Senior Note Indenture, the Senior Notes or the 1993 Senior Notes or any agreement of the Borrower entered into in connection with the foregoing if the effect of such amendment or modification is to impose additional or increased scheduled or mandatory repayment, retirement, repurchase or redemption obligations in respect of such Indebtedness or to require any scheduled or mandatory payment to be made in respect of such Indebtedness prior to the date that such payment would otherwise be due.
Limitations on Debt Prepayments. Optionally prepay, repurchase or redeem or otherwise optionally defease or segregate funds with respect to (collectively, “prepay”) any Permitted Notes or other long-term capital markets Indebtedness; provided, however, that the foregoing will not prohibit (i) any refinancing of such Indebtedness pursuant to the issuance of Permitted Refinancing Indebtedness with respect thereto that is otherwise permitted by this Agreement, (ii) the transactions effected on the Funding Date in connection with the effectiveness of, and pursuant to the terms of, the Plan of Reorganization, (iii) any repayments or prepayments in respect of obligations under the Revolving Facility and (iv) any prepayment, repurchase, redemption or defeasance of Indebtedness up to $200,000,000 in aggregate principal amount, if at the time thereof and after giving effect thereto, (A) the Consolidated Senior Secured Leverage Ratio would be less than 2.50 to 1.00 and (B) the sum of (1) the amount of availability under the Revolving Facility and (2) the aggregate amount of all unrestricted cash and unrestricted Permitted Investments of the Borrower and its Subsidiaries shall not be less than $350,000,000.
Limitations on Debt Prepayments. 59 7.10. Amendment of Certain Documents and Subordinated Notes.............................................60 7.11. Limitation on Leases..............................................................................60 7.12. Subsidiaries......................................................................................61 7.13. Capital Expenditures..............................................................................61 7.14. Consolidated Net Worth............................................................................62 7.15. Current Ratio.....................................................................................62 7.16. Interest Expense Coverage Ratio...................................................................62 7.17. Leverage Ratio....................................................................................63
Limitations on Debt Prepayments. 93 SECTION 7.10.
Limitations on Debt Prepayments. Optionally prepay, repurchase or redeem or otherwise optionally defease or segregate funds with respect to (collectively, “prepay”) any Senior -169- Secured Notes or other Indebtedness; provided, however, that the foregoing will not prohibit (i) any refinancing of such Indebtedness pursuant to the issuance of Permitted Refinancing Indebtedness with respect thereto that is otherwise permitted by this Agreement, (ii) the transactions effected on the Effective Date in connection with the effectiveness of, and pursuant to the terms of, the Plan of Reorganization or the CCAA Plan, (iii) prepayments of Indebtedness owed between AbitibiBowaterResolute and its Subsidiaries, (iv) prepayments, repurchases, redemptions or defeasances of Indebtedness with shares of common stock of AbitibiBowaterResolute or out of the Net Proceeds from the sale of common stock of AbitibiBowaterResolute or (v) any other prepayment, repurchase, redemption or defeasance of Indebtedness so long as the Payment Conditions are satisfied both before and after giving effect to such prepayment, repurchase, redemption or defeasance, as the case may be.
Limitations on Debt Prepayments. (a) Optionally prepay, repurchase or redeem or otherwise defease or segregate funds with respect to any Indebtedness for borrowed money (including, in the case of the Company, the Subordinated Notes) other than the Notes; provided, however, that the foregoing shall not prevent the Company from (i) making any payment pursuant to Section 2.12 or 2.13 of the Credit Agreement, (ii) refinancing Indebtedness under the Credit Agreement or the Subordinated Notes pursuant to, and in accordance with, the provisions of Section 7.1(g) or (h), respectively (whereupon this Section 7.9 shall apply to the Indebtedness incurred in connection with any such refinancing), (iii) prepaying or otherwise refinancing any Indebtedness permitted in Section 7.1(i), 7.1(j), 7.1(l), 7.1(m) or 7.1(q), or (iv) prepaying, repurchasing, redeeming or defeasing up to $15,000,000 aggregate principal amount of the Subordinated Notes during the term of this Agreement (provided that (i) the entire amount of such prepayment, repurchase, redemption or defeasance during any fiscal year shall be funded solely from the sum of (without duplication) (A) the 50% of Excess Cash Flow for the immediately preceding fiscal year (beginning on or after January 1, 1999) that the Company is not required to apply to prepay the Notes pursuant to Section 5.1 or required pursuant to Section 2.13(c) of the Credit Agreement to apply to prepay obligations outstanding under the Credit Agreement and (B) any portion of the amount available pursuant to the preceding clause (A) with respect to any prior fiscal year (beginning on or after January 1, 1999) other than the immediately preceding fiscal year and not used prior to the current fiscal year to fund the prepayment, repurchase, redemption or defeasance of Subordinated Notes and (ii) immediately after giving effect thereto no Default or Event of Default shall have occurred or be continuing or would result therefrom). Without limiting the foregoing, neither the Credit Agreement nor the Subordinated Note Indenture nor any document in respect of Credit Agreement Refinancing Indebtedness or Subordinated Note Refinancing Indebtedness shall prevent the Company from electing to apply to the optional prepayment of Notes from time to time pursuant to Section 5.2 an aggregate amount (allocable to principal and Make-Whole Premium) in each case at least equal to the Pro Rata Share of the holders of the Notes in respect of each optional prepayment of the Term Loans pursuant to Secti...
Limitations on Debt Prepayments. SECTION 7.10. Amendment of Certain Documents SECTION 7.11. Limitation on Dispositions of Stock of Subsidiaries SECTION 7.12. Restrictions on Ability of Subsidiaries to Pay Dividends SECTION 7.13. Capital Expenditures SECTION 7.14. Consolidated Senior Secured Leverage Ratio SECTION 7.15. Interest Coverage Ratio SECTION 7.16. Disposition of Collateral and Other Assets SECTION 7.17. Fiscal Year
Limitations on Debt Prepayments. Optionally prepay, repurchase or redeem or otherwise optionally defease or segregate funds with respect to (collectively, “prepay”) any Specified Long-Term Indebtedness; provided, however, that (a) so long as no Default or Event of Default shall have occurred and be continuing or would result therefrom, SSCC and any Subsidiary shall be permitted (i) to prepay up to U.S.$150,000,000 in aggregate principal amount (including any accrued and unpaid interest and any premium thereon) of any Specified Long-Term Indebtedness if at the time of any such prepayment and after giving effect thereto, the Consolidated Leverage Ratio would be less than 5.5 to 1.0, (ii) to prepay up to U.S.$250,000,000 in aggregate principal amount (including any accrued and unpaid interest and any premium thereon) of any Callable Senior Notes if at the time of any such prepayment and after giving effect thereto, the Consolidated Leverage Ratio would be less than 5.5 to 1.0, and (iii) to prepay up to U.S.$150,000,000 in aggregate principal amount (including any accrued and unpaid interest and any premium thereon) of any Callable Senior Notes if at the time of any such prepayment and after giving effect thereto, the Consolidated Leverage Ratio would be less than 3.0 to 1.0 and (b) SSCC and any Subsidiary shall be permitted to refinance any Indebtedness as otherwise permitted hereunder.
Limitations on Debt Prepayments. The Parent and the Company will not, and will ensure that none of their Subsidiaries will, optionally prepay, repurchase or redeem or otherwise defease or segregate funds with respect to any Indebtedness for borrowed money (other than Indebtedness under the Finance Documents) of the Parent, the Company or any of their Subsidiaries.
Limitations on Debt Prepayments. 77 SECTION 7.10. Amendment of Certain Documents and Subordinated Notes . . . . . . . . . . . . . . . . . .78 SECTION 7.11. Limitation on Leases . . . . . . . . . . . 78 SECTION 7.12. Credit Standards . . . . . . . . . . . . . 79 SECTION 7.13. Limitation on Negative Pledge Clauses. . . 79 SECTION 7.14. Reserved . . . . . . . . . . . . . . . . . 79 SECTION 7.15.Total Debt Ratio. . . . . . . . . . . . . . 79 XXXTION 7.16. Consolidated Interest Expense Coverage Ratio . . . . . . . . . . . . . . . . . . . . . .. . . 80
