Common use of Limitations on Priority Debt Clause in Contracts

Limitations on Priority Debt. TheOn and after the Collateral Release Date, the Company will not, and will not permit any Restricted Subsidiary to, create, assume or incur or in any manner be or become liable in respect of any Priority Debt, unless at the time of issuance thereof and after giving effect thereto and to the application of the proceeds thereof, Priority Debt shall not exceed 20% of Consolidated Total Capitalization. Any Person which becomes a Restricted Subsidiary after the date of this agreement shall, for all purposes of this Section 10.4, be deemed to have created, assumed or incurred, at the time it becomes a Restricted Subsidiary, all Priority Debt of such Person existing immediately after it became a Restricted Subsidiary.

Limitations on Priority Debt. TheOn and after the Collateral Release Date, the The Company will not, and will not permit any Restricted Subsidiary to, create, assume or incur or in any manner be or become liable in respect of any Priority Debt, unless at the time of issuance thereof and after giving effect thereto and to the application of the proceeds thereof, Priority Debt shall not exceed 20% of Consolidated Total Capitalization. Any Person corporation which becomes a Restricted Subsidiary after the date of this agreement Agreement shall, for all purposes of this Section 10.4, be deemed to have created, assumed or incurred, at the time it becomes a Restricted Subsidiary, all Priority Debt of such Person corporation existing immediately after it became becomes a Restricted Subsidiary.

Limitations on Priority Debt. TheOn On and after the Collateral Release Date, the Company will not, and will not permit any Restricted Subsidiary to, create, assume or incur or in any manner be or become liable in respect of any Priority Debt, unless at the time of issuance thereof and after giving effect thereto and to the application of the proceeds thereof, Priority Debt shall not exceed 20% of Consolidated Total Capitalization. Any Person which becomes a Restricted Subsidiary after the date of this agreement shall, for all purposes of this Section 10.4, be deemed to have created, assumed or incurred, at the time it becomes a Restricted Subsidiary, all Priority Debt of such Person existing immediately after it became a Restricted SubsidiarySubsidiaryReserved.

Limitations on Priority Debt. TheOn On and after the Collateral Release Date, the Company will not, and will not permit any Restricted Subsidiary to, create, assume or incur or in any manner be or become liable in respect of any Priority Debt, unless at the time of issuance thereof and after giving effect thereto and to the application of the proceeds thereof, Priority Debt shall not exceed 20% of Consolidated Total Capitalization. Any Person which becomes a Restricted Subsidiary after the date of this agreement shall, for all purposes of this Section 10.4, be deemed to have created, assumed or incurred, at the time it becomes a Restricted Subsidiary, all Priority Debt of such Person existing immediately after it became a Restricted Subsidiary.

Limitations on Priority Debt. TheOn On and after the Collateral Release Date, the Company will not, and will not permit any Restricted Subsidiary to, create, assume or incur or in any manner be or become liable in respect of any Priority Debt, unless at the time of issuance thereof and after giving effect thereto and to the application of the proceeds thereof, Priority Debt shall not exceed 20% of Consolidated Total Capitalization. Any Person which becomes a Restricted Subsidiary after the date of this agreement shall, for all purposes of this Section 10.4, be deemed to have created, assumed or incurred, at the time it becomes a Restricted Subsidiary, all Priority Debt of such Person existing immediately after it became a Restricted Subsidiary.. ​

Limitations on Priority Debt. TheOn On and after the Collateral Release Date, the Company will not, and will not permit any Restricted Subsidiary to, create, assume or incur or in ​ ​ ​ ​ ​ any manner be or become liable in respect of any Priority Debt, unless at the time of issuance thereof and after giving effect thereto and to the application of the proceeds thereof, Priority Debt shall not exceed 20% of Consolidated Total Capitalization. Any Person which becomes a Restricted Subsidiary after the date of this agreement shall, for all purposes of this Section 10.4, be deemed to have created, assumed or incurred, at the time it becomes a Restricted Subsidiary, all Priority Debt of such Person existing immediately after it became a Restricted Subsidiary.