Limitations on Funded Debt. For so long as any Notes issued pursuant to this Tenth Supplemental Indenture are Outstanding, the Corporation will not permit any Restricted Subsidiary to incur, issue, guarantee or create any Funded Debt unless, after giving effect thereto, the sum of the aggregate amount of all outstanding Funded Debt of the Restricted Subsidiaries would not exceed an amount equal to 15% of Consolidated Net Tangible Assets. This Section 302 shall not apply to, and there shall be excluded from Funded Debt in any computation hereto, Funded Debt secured by: (i) Liens on real or physical property of any corporation existing at the time such corporation becomes a Subsidiary; (ii) Liens on real or physical property existing at the time of acquisition thereof incurred within 180 days of the time of acquisition thereof (including, without limitation, acquisition through merger or consolidation) by the Corporation or any Restricted Subsidiary; (iii) Liens on real or physical property thereafter acquired (or constructed) by the Corporation or any Restricted Subsidiary and created prior to, at the time of, or within 270 days after such acquisition (including, without limitation, acquisition through merger or consolidation) (or the completion of such construction or commencement of commercial operation of such property, whichever is later) to secure or provide for the payment of all or any part of the purchase price (or the construction price) thereof; (iv) Liens in favor of the Corporation or any Restricted Subsidiary; (v) Liens in favor of the United States of America, any State thereof or the District of Columbia, or any agency, department or other instrumentality thereof, to secure partial, progress, advance or other payments pursuant to any contract or provisions of any statute, (vi) Liens incurred or assumed in connection with the issuance of revenue bonds the interest on which is exempt from Federal Income taxation pursuant to Section 103(b) of the Internal Revenue Code of 1954, as amended; (vii) Liens securing the performance of any contract or undertaking not directly or indirectly in connection with the borrowing of money, the obtaining of advances or credit or the securing of Funded Debt, if made and continuing in the ordinary course of business; (viii) Liens incurred (no matter when created) in connection with the Corporation's or a Restricted Subsidiary's engaging in leveraged or single-investor lease transaction; provided, however, that the instrument creating or evid...
Limitations on Funded Debt. (a) The Company will not, and will not permit any Subsidiary to, create, assume or incur or in any manner be or become liable in respect of any Funded Debt, except:
Limitations on Funded Debt. No Daisytek Corporation shall permit, as of any date, the creation, incurrence, assumption or sufferance to exist of Funded Debt of such corporation, other than (a) the Obligations, (b) Funded Debt existing on the Closing Date and fully described in the Initial Financial Statements (other than the Funded Debt referred to in Footnote 2 to the Consolidated financial statements of Guarantor included in the Prospectus as the revolving line of credit agreement with commercial banks), (c) Funded Debt secured as permitted by Section 8.2(a), (d) unsecured Funded Debt of up to Ten Million Dollars ($10,000,000) to a Lender incurred under a money market line of credit, and (e) unsecured Funded Debt of such Daisytek Corporation which, together with the Funded Debt pursuant to this clause (e) of all other Daisytek Corporations, does not exceed Five Million Dollars ($5,000,000)."
Limitations on Funded Debt. Neither the Company nor any of its Subsidiaries will incur, create, assume, guarantee or otherwise become liable for any additional Funded Debt unless, after giving effect thereto, the Company's Consolidated EBITDA Coverage Ratio exceeds 2.0 to 1. The foregoing restriction on additional Funded Debt shall not be applicable to (i) Funded Debt incurred to refund, extend or renew up to an equal amount of outstanding Funded Debt; provided, that, if any Funded Debt is incurred for the purpose of refunding, extending or renewing any Indebtedness which is subordinate to the Series B Notes, such Funded Debt must be subordinated to the Series B Notes, to the extent such Indebtedness is so subordinated, and provided, further, that, if any Funded Debt is incurred for the purpose of refunding, extending or renewing any Indebtedness which is of equal rank with the Series B Notes, such Funded Debt may not be Senior Indebtedness, and (ii) additional Funded Debt in an aggregate amount not to exceed $25 million at any one time outstanding; Petroleum Heat and Power Co., Inc. Sixth Amendment and Restatement provided, however, that Funded Debt incurred pursuant to this subsection (ii) shall be deemed not to be outstanding for purposes of this subsection (ii) if at any later determination date, the Company's Consolidated EBITDA Coverage Ratio exceeds 2.0 to 1.
Limitations on Funded Debt. Avnet shall not, nor shall it permit any of its Subsidiaries to, incur any Funded Debt unless (a) at the time such Funded Debt is incurred, no Default or Event of Default exists and (b) after giving effect to the incurrence of such Funded Debt on a pro forma basis as if such Funded Debt had been incurred on the first day of the four Fiscal Quarter period most recently ended, each of the covenants in Section 6.11 shall be satisfied.
Limitations on Funded Debt. (a) The Company will not, and will not permit any Subsidiary to, create, assume, guarantee or otherwise incur or in any manner become liable in respect of any Funded Debt, except:
Limitations on Funded Debt. Section 5.7(a) of the Note Agreement is hereby amended in its entirety to read as follows: "The Company will keep and maintain Consolidated Funded Debt at an aggregate amount that (1) at all times prior to November 30, 1997 shall not exceed 55% of the sum of (a) Consolidated Funded Debt plus (b) Consolidated Tangible Net worth and (2) at all times on or after November 30, 1997 shall not exceed 50% of the sum of (a) Consolidated Funded Debt plus (b) Consolidated Tangible Net Worth; provided that for purposes of any determination of Consolidated Funded Debt pursuant to this Section 5.7, if there shall not have been a period of 60 consecutive days during the twelve-month period immediately preceding the date of any determination hereunder during which the Company and its Subsidiaries shall have been free of all Consolidated Current Debt, then the average of the aggregate unpaid principal amounts of Consolidated Current Debt outstanding on the last day of each month of the fiscal year most recently ended shall be deemed to constitute Consolidated Funded Debt for purposes of such determination."
Limitations on Funded Debt. And will not permit any Recourse Subsidiary to, create, assume or incur or in any manner be or become liable in respect of any Funded Debt, except:
Limitations on Funded Debt. (a) Notwithstanding anything in Section 5.8 to the contrary, no Company will create, issue, assume, guarantee or otherwise incur or in any manner be or become liable in respect of any Funded Debt, except:
Limitations on Funded Debt. (a) In addition to, and not in limitation of, any other restrictions in respect of Debt of IHOP, the Company or any Subsidiary hereunder, IHOP and the Company will not, and will not permit any Subsidiary to, create, issue, assume, guarantee or otherwise incur or in any manner become liable in respect of any Funded Debt, except:
