Common use of Limitations on Secured Debt Clause in Contracts

Limitations on Secured Debt. (a) If the Company or any Restricted Subsidiary shall incur, issue, assume or enter into a guarantee of any Debt secured by a Mortgage on any Principal Property of the Company or any Subsidiary, or on any Capital Stock of any Restricted Subsidiary, the Company shall, or shall cause such Subsidiary or Restricted Subsidiary to, secure the 2042 Notes equally and ratably with (or prior to) such secured Debt for as long as such Debt is so secured, unless the aggregate amount of all outstanding Debt secured by Mortgages, when taken together with all Attributable Debt with respect to sale and leaseback transactions involving Principal Properties of the Company or any Subsidiary (with the exception of such transactions which are excluded pursuant to Section 4.8(b) and Section 4.9(b)), would not, at the time of such incurrence, issuance, assumption or guarantee, exceed 15% of Consolidated Net Tangible Assets, as determined based on the most recent available consolidated balance sheet of the Company. Any Mortgage created for the benefit of the Holders of Securities pursuant to the preceding sentence shall provide by its terms that such Mortgage shall be automatically and unconditionally released and discharged upon the release and discharge of the Mortgage to which it relates.

Limitations on Secured Debt. (a) If the Company or any Restricted Subsidiary shall incur, issue, assume or enter into a guarantee of any Debt secured by a Mortgage on any Principal Property of the Company or any Subsidiary, or on any Capital Stock of any Restricted Subsidiary, the Company shall, or shall cause such Subsidiary or Restricted Subsidiary to, secure the 2042 2022 Notes equally and ratably with (or prior to) such secured Debt for as long as such Debt is so secured, unless the aggregate amount of all outstanding Debt secured by Mortgages, when taken together with all Attributable Debt with respect to sale and leaseback transactions involving Principal Properties of the Company or any Subsidiary (with the exception of such transactions which are excluded pursuant to Section 4.8(b3.8(b) and Section 4.9(b3.9(b)), would not, at the time of such incurrence, issuance, assumption or guarantee, exceed 15% of Consolidated Net Tangible Assets, as determined based on the most recent available consolidated balance sheet of the Company. Any Mortgage created for the benefit of the Holders of Securities pursuant to the preceding sentence shall provide by its terms that such Mortgage shall be automatically and unconditionally released and discharged upon the release and discharge of the Mortgage to which it relates.

Limitations on Secured Debt. (a) If the Company or any Restricted Subsidiary shall incur, issue, assume or enter into a guarantee (an “Incurrence”) of any Debt Debt, which Incurrence is secured by a Mortgage mortgage, pledge or lien (“Mortgage,” provided, however, that in no event shall an operating lease be deemed to constitute a Mortgage) on any Principal Property of the Company or any Subsidiary, or on any Capital Stock of any Restricted Subsidiary, the Company shallwill, or shall will cause such Subsidiary or Restricted Subsidiary to, secure the 2042 Notes of each series equally and ratably (for the avoidance of doubt on such Capital Stock on Principal Property) with (or or, prior to) such secured Debt Debt, for as so long as such Debt is so secured, unless the aggregate amount of all outstanding such secured Debt (for the avoidance of doubt, to the extent such debt is secured by Mortgagesa Mortgage on any Principal Property), when taken together with all Attributable Debt with respect to sale Sale and leaseback transactions Leaseback Transactions involving Principal Properties of the Company or any Subsidiary (with the exception of such transactions which are excluded pursuant to under Section 4.8(b) and Section 4.9(b)4.05 hereof), would not, at the time of such incurrence, issuance, assumption incurrence or guarantee, exceed 15% of Consolidated Net Tangible Assets, as determined based on the most recent available consolidated balance sheet of the Company. Any Mortgage created for the benefit of the Holders of Securities pursuant to the preceding sentence shall provide by its terms that such Mortgage shall be automatically and unconditionally released and discharged upon the release and discharge of the Mortgage to which it relates.

Limitations on Secured Debt. (a) If the Company Parent, the Issuer or any Restricted Subsidiary shall incur, issue, assume or enter into a guarantee of any Debt secured by a Mortgage on any Principal Property of the, Parent, the Company Issuer or any SubsidiarySubsidiary of the Parent, or on any Capital Stock of any Restricted Subsidiary, the Company Parent or the Issuer shall, or shall cause such Subsidiary or Restricted Subsidiary to, secure the 2042 Series 1 Notes equally and ratably rateably with (or prior to) such secured Debt for as long as such Debt is so secured, unless the aggregate amount of all outstanding such secured Debt (for the avoidance of doubt, to the extent such Debt is secured by Mortgages, a Mortgage on any Principal Property) when taken together with all Attributable Debt with respect to sale and leaseback transactions involving Principal Properties of the Company Parent, the Issuer or any Subsidiary (with the exception of such transactions which are excluded pursuant to Section 4.8(b2.8(b) and Section 4.9(b2.9(b)), would not, at the time of such incurrence, issuance, assumption or guarantee, exceed 15% of Consolidated Net Tangible Assets, as determined based on the most recent available consolidated balance sheet of the CompanyParent. Any Mortgage created for the benefit of the Holders of Securities pursuant to the preceding sentence shall provide by its terms that such Mortgage shall be automatically and unconditionally released and discharged upon the release and discharge of the Mortgage to which it relates.

Limitations on Secured Debt. (a) If the Company Parent, the Issuer or any Restricted Subsidiary shall incur, issue, assume or enter into a guarantee of any Debt secured by a Mortgage on any Principal Property of the, Parent, the Company Issuer or any SubsidiarySubsidiary of the Parent, or on any Capital Stock of any Restricted Subsidiary, the Company Parent or the Issuer shall, or shall cause such Subsidiary or Restricted Subsidiary to, secure the 2042 Series 2 Notes equally and ratably rateably with (or prior to) such secured Debt for as long as such Debt is so secured, unless the aggregate amount of all outstanding such secured Debt (for the avoidance of doubt, to the extent such Debt is secured by Mortgagesa Mortgage on any Principal Property), when taken together with all Attributable Debt with respect to sale and leaseback transactions involving Principal Properties of the Company Parent, the Issuer or any Subsidiary (with the exception of such transactions which are excluded pursuant to Section 4.8(b3.8(b) and Section 4.9(b3.9(b)), would not, at the time of such incurrence, issuance, assumption or guarantee, exceed 15% of Consolidated Net Tangible Assets, as determined based on the most recent available consolidated balance sheet of the CompanyParent. Any Mortgage created for the benefit of the Holders of Securities pursuant to the preceding sentence shall provide by its terms that such Mortgage shall be automatically and unconditionally released and discharged upon the release and discharge of the Mortgage to which it relates.

Limitations on Secured Debt. (a) If the Company or any Restricted Subsidiary shall incur, issue, assume or enter into a guarantee of any Debt secured by a Mortgage on any Principal Property of the Company or any Subsidiary, or on any Capital Stock of any Restricted Subsidiary, the Company shall, or shall cause such Subsidiary or Restricted Subsidiary to, secure the 2042 2017 Notes equally and ratably with (or prior to) such secured Debt for as long as such Debt is so secured, unless the aggregate amount of all outstanding Debt secured by Mortgages, when taken together with all Attributable Debt with respect to sale and leaseback transactions involving Principal Properties of the Company or any Subsidiary (with the exception of such transactions which are excluded pursuant to Section 4.8(b2.8(b) and Section 4.9(b2.9(b)), would not, at the time of such incurrence, issuance, assumption or guarantee, exceed 15% of Consolidated Net Tangible Assets, as determined based on the most recent available consolidated balance sheet of the Company. Any Mortgage created for the benefit of the Holders of Securities pursuant to the preceding sentence shall provide by its terms that such Mortgage shall be automatically and unconditionally released and discharged upon the release and discharge of the Mortgage to which it relates.

Limitations on Secured Debt. (a) If the Company or any Restricted Subsidiary shall incur, issue, assume or enter into a guarantee (an “Incurrence”) of any Debt Debt, which Incurrence is secured by a Mortgage mortgage, pledge or lien (“Mortgage,” provided, however, that in no event shall an operating lease be deemed to constitute a Mortgage) on any Principal Property of the Company or any Subsidiary, or on any Capital Stock of any Restricted Subsidiary, the Company shallwill, or shall will cause such Subsidiary or Restricted Subsidiary to, secure the 2042 Notes equally and ratably (for the avoidance of doubt on such Capital Stock on Principal Property) with (or or, prior to) such secured Debt Debt, for as so long as such Debt is so secured, unless the aggregate amount of all outstanding such secured Debt (for the avoidance of doubt, to the extent such debt is secured by Mortgagesa Mortgage on any Principal Property), when taken together with all Attributable Debt with respect to sale Sale and leaseback transactions Leaseback Transactions involving Principal Properties of the Company or any Subsidiary (with the exception of such transactions which are excluded pursuant to under Section 4.8(b) and Section 4.9(b)4.05 hereof), would not, at the time of such incurrence, issuance, assumption incurrence or guarantee, exceed 15% of Consolidated Net Tangible Assets, as determined based on the most recent available consolidated balance sheet of the Company. Any Mortgage created for the benefit of the Holders of Securities pursuant to the preceding sentence shall provide by its terms that such Mortgage shall be automatically and unconditionally released and discharged upon the release and discharge of the Mortgage to which it relates.