Common use of Limitations on Indebtedness Clause in Contracts

Limitations on Indebtedness. (a) The Company will not have outstanding, or in any manner be liable in respect of, any Indebtedness, except the following: (1) current operating liabilities and current or other obligations (other than for borrowed money) incurred in the ordinary course of business; (2) Seasonal Indebtedness, provided that such Seasonal Indebtedness has not existed for a period of at least 30 consecutive days in the twelve preceding months; and (3) Funded Debt (including the Bonds) in an amount not in excess of 60% of the Plant Account on the books of the Company at any one time outstanding. (b) The renewal, extension or refunding of any Funded Debt issued or incurred in accordance with the limitations of this Section 7.9 shall constitute the issuance of additional Funded Debt, which is, in turn, subject to the limitations of the applicable provisions of this Section 7.9, but any Indebtedness paid or defeased from the proceeds of additional Funded Debt may be excluded from outstanding Indebtedness for purposes of this Section 7.9. (c) Subject to compliance with this Section 7.9, nothing contained in this Agreement shall prohibit the Company from having the Issuer issue in the future additional series of Bonds or incurring other types of Funded Debt.

Limitations on Indebtedness. (a) The Company will not have outstanding, or in any manner be liable in respect of, any Indebtedness, except the following: (1) current operating liabilities and current or other obligations (other than for borrowed money) incurred in the ordinary course of business; (2) Seasonal Indebtedness, provided that such Seasonal Indebtedness has not existed for a period of at least 30 consecutive days in the twelve preceding months; and (3) Funded Debt (including the Bonds) in an amount not in excess of 60% of the Plant Account on the books of the Company at any one time outstanding. (b) The renewal, extension or refunding of any Funded Debt issued or incurred in accordance with the limitations of this Section 7.9 shall constitute the issuance of additional Funded Debt, which is, in turn, subject to the limitations of the applicable provisions of this Section 7.9, but any Indebtedness paid or defeased from the proceeds of additional Funded Debt may be excluded from outstanding Indebtedness for purposes of this Section 7.9. (c) Subject to compliance with this Section 7.9, nothing contained in this Agreement shall prohibit the Company from having the Issuer issue in the future additional series of Bonds bonds or incurring other types of Funded Debt.

Limitations on Indebtedness. (a) The Company will not have outstanding, or in any manner be liable in respect of, any Indebtedness, except the following: (1i) current operating liabilities and current or other obligations (other than for borrowed money) incurred in the ordinary course of business; (2ii) Seasonal Indebtedness, provided that (A) such Seasonal Indebtedness has not existed for a period of at least 30 consecutive days in the twelve preceding monthsmonths or (B) the amount of such Seasonal Indebtedness, when added to the outstanding amount of Funded Debt, does not exceed 60% of the Plant Account on the books of the Company at any one time outstanding; and (3iii) Funded Debt (including the Bonds) in an amount not in excess of 60% of the Plant Account on the books of the Company at any one time outstanding. (b) The renewal, extension or refunding of any Funded Debt issued or incurred in accordance with the limitations of this Section 7.9 shall constitute the issuance of additional Funded Debt, which is, in turn, subject to the limitations of the applicable provisions of this Section 7.9, but any Indebtedness paid or defeased from the proceeds of additional Funded Debt may be excluded from outstanding Indebtedness for purposes of this Section 7.9. (c) Subject to compliance with this Section 7.9, nothing contained in this Agreement shall prohibit the Company from having the Issuer issue in the future additional series of Bonds bonds or incurring other types of Funded Debt.

Limitations on Indebtedness. (a) The Company will not have outstanding, or in any manner be liable in respect of, any Indebtedness, except the following: (1i) current operating liabilities and current or other obligations (other than for borrowed money) incurred in the ordinary course of business; (2ii) Seasonal Indebtedness, provided that such Seasonal Indebtedness has not existed for a period of at least 30 consecutive days in the twelve preceding months; and (3iii) Funded Debt (including the Bonds) in an amount not in excess of 60% of the Plant Account on the books of the Company at any one time outstanding. (b) The renewal, extension or refunding of any Funded Debt issued or incurred in accordance with the limitations of this Section 7.9 shall constitute the issuance of additional Funded Debt, which is, in turn, subject to the limitations of the applicable provisions of this Section 7.9, but any Indebtedness paid or defeased from the proceeds of additional Funded Debt may be excluded from outstanding Indebtedness for purposes of this Section 7.9. (c) Subject to compliance with this Section 7.9, nothing contained in this Agreement shall prohibit the Company from having the Issuer issue in the future additional series of Bonds bonds or incurring other types of Funded Debt.

Limitations on Indebtedness. (a) The Company will not have outstanding, or in any manner be liable in respect of, any Indebtedness, except the following: (1) current operating liabilities and current or other obligations (other than for borrowed money) incurred in the ordinary course of business; (2) Seasonal Indebtedness, provided that such Seasonal Indebtedness has not existed for a period of at least 30 consecutive days in the twelve preceding months; and (3) Funded Debt (including including, without limitation, the Bonds and the Issuer’s $7,300,000 Exempt Facilities Revenue Bonds, Series A of 2004 (The York Water Company Project)) in an amount not in excess of 60% of the Plant Account on the books of the Company at any one time outstanding. (b) The renewal, extension or refunding of any Funded Debt issued or incurred in accordance with the limitations of this Section 7.9 shall constitute the issuance of additional Funded Debt, which is, in turn, subject to the limitations of the applicable provisions of this Section 7.9, but any Indebtedness paid or defeased from the proceeds of additional Funded Debt may be excluded from outstanding Indebtedness for purposes of this Section 7.9. (c) Subject to compliance with this Section 7.9, nothing contained in this Agreement shall prohibit the Company from having the Issuer issue in the future additional series of Bonds bonds or incurring other types of Funded Debt.

Limitations on Indebtedness. (a) The Company will not have outstanding, or in any manner be liable in respect of, any Indebtedness, except the following: (1) current operating liabilities and current or other obligations (other than for borrowed money) incurred in the ordinary course of business; (2) Seasonal Indebtedness, provided that such Seasonal Indebtedness has not existed for a period of at least 30 consecutive days in the twelve preceding months; and (3) Funded Debt (including including, without limitation, the 2008A Bonds and the Issuer’s $7,300,000 Exempt Facilities Revenue Bonds, Series A of 2004 (The York Water Company Project)) in an amount not in excess of 60% of the Plant Account on the books of the Company at any one time outstanding. (b) The renewal, extension or refunding of any Funded Debt issued or incurred in accordance with the limitations of this Section 7.9 6.9 shall constitute the issuance of additional Funded Debt, which is, in turn, subject to the limitations of the applicable provisions of this Section 7.96.9, but any Indebtedness paid or defeased from the proceeds of additional Funded Debt may be excluded from outstanding Indebtedness for purposes of this Section 7.96.9. (c) Subject to compliance with this Section 7.96.9, nothing contained in this Agreement shall prohibit the Company from having the Issuer issue in the future additional series of Bonds bonds or incurring other types of Funded Debt.