No other Borrowed Money it will not, and will procure that no member of the Group will, incur or permit to exist on its behalf any obligations in respect of Borrowed Money (excluding any guarantees, indemnities or other forms of assurance against financial loss in respect of Borrowed Money, which are referred to in clause 11.1(d) below) to any person except:
(ii) the Loan Notes;
(iii) Borrowed Money owed by any member of the Group to another member of the Group;
(iv) Borrowed Money incurred under the hedge transactions entered into pursuant to clause 10.2(f) and/or clause (n) of Schedule 3, Part A;
No other Borrowed Money it will not, and will procure that no other member of the Group will, incur or permit to exist on its behalf any obligations in respect of Borrowed Money (other than in respect of any guarantees in respect of Borrowed Money to the extent permitted by clause 10.6(d) and transactions similar to security permitted by clause 10.6(b)) to any person except:
(i) the Facilities (including, for the avoidance of doubt, Borrowed Money to the extent that it is the subject of a Letter of Credit issued under the Working Capital Facility or a guarantee issued by an Ancillary Facilities Bank);
(ii) Borrowed Money incurred by Newco 2 under the Intercompany Loan Agreement and the Target/Newco 2 Loan Agreement;
No other Borrowed Money it shall not, and shall procure that no REC Company shall, incur or permit to exist on its behalf any obligations in respect of Borrowed Money (excluding any guarantees, indemnities or other forms of assurance against financial loss in respect of Borrowed Money, which are referred to in clause 11.1(d) below) to any person except:
(i) the Facility;
(ii) Borrowed Money owed by any REC Company to a member of the Wider Group;
(iii) Borrowed Money to the extent secured by a Security Interest permitted by paragraphs (c), (d), (e) and (j) of the definition of Permitted Security Interest, but only for so long as such Security Interest remains a Permitted Security Interest;
(iv) Borrowed Money incurred to repay and discharge the Facility in full;
(v) Borrowed Money of the Primary Borrower as at the Effective Date (and refinancings thereof) provided that:
No other Borrowed Money it will not, and will procure that no member of the Group will, incur or permit to exist on its behalf any obligations in respect of Borrowed Money (excluding any guarantees, indemnities or other forms of assurance against financial loss in respect of Borrowed Money, which are referred to in clause 11.1(d) below) to any person except:
(i) the Facilities;
(ii) the Loan Notes;
(iii) Borrowed Money owed by any member of the Group to another member of the Group;
(iv) Borrowed Money incurred under the hedge transactions entered into pursuant to clause 10.2(f) and/or clause (l) of Schedule 3, Part A or any other transaction entered into to hedge the transactions referred to in such clause (l);
(v) Borrowed Money to the extent secured by a Security Interest permitted by paragraphs (c) (d) (e) (f) and (l) of the definition of Permitted Security Interest, but only for so long as such Security Interest remains a Permitted Security Interest and, with respect to paragraph (l) only, secures Borrowed Money which is intended to be a temporary bridging loan to be refinanced by a Project Finance Borrowing;
(vi) Borrowed Money incurred to repay and discharge the Facilities in full;
(vii) Borrowed Money of the Target Group as at the Unconditional Date (and refinancings thereof) provided that:
