Permitted Financial Indebtedness Sample Clauses
Permitted Financial Indebtedness amend the definition of Permitted Financial Indebtedness:
(a) to include an express reference to any Financial Indebtedness constituting a Permitted Transaction;
(b) any Financial Indebtedness in respect of any non-recourse subsidiary;
(c) to remove the restriction on not incurring Financial Indebtedness in contemplation of a Permitted Acquisition and the requirement to discharge such Financial Indebtedness within six months of the date of completion of the acquisition;
(d) to permit vendor financing arrangements and sale and leaseback transactions provided that the pro forma Net Total Debt to Consolidated Annualised EBITDA is equal to or less than, 5.50:1.00, provided that such vendor financing provider or lessor is not permitted to benefit from any Security Interest other than in respect of the assets subject to such financing arrangements;
(e) to include a provision such that if that Financial Indebtedness meets the criteria of more than one of the types of Permitted Financial Indebtedness in the definition of Permitted Financial Indebtedness, the Company, in its sole discretion, may classify such item of Financial Indebtedness on the date of its incurrence and shall only be required to include the amount and type of such Financial Indebtedness in one of the limbs of that definition and will be permitted on the date of such incurrence to divide and classify an item of such Financial Indebtedness in more than one of such limbs, and, from time to time, may reclassify all or a portion of such Financial Indebtedness;
(f) to permit Financial Indebtedness of asset securitization subsidiaries (as described above) incurred solely to finance any asset securitisation programme or receivables factoring transaction otherwise permitted under the definition of Permitted Disposals; and
(g) in Paragraph (p) of the definition of Permitted Financial Indebtedness, permit the Company to incur Financial Indebtedness under this general basket of up to an aggregate of the greater of €200,000,000 and 5% of total assets.
Permitted Financial Indebtedness. (a) Xxxxxx Xxxxxx 19.13(b)(xi) (Restrictions on Financial Indebtedness) and replace it with the following:
Permitted Financial Indebtedness amend the definition of Permitted Financial Indebtedness to in addition to the existing “Permitted Financial Indebtedness” include:
(a) Financial Indebtedness incurred constituting reimbursement obligations with respect to letters of credit issued and bank guarantees in the ordinary course of business provided to lessors of real property or otherwise in connection with the leasing of real property and letters of credit in connection with the maintenance of, or pursuant to the requirements of, environmental or other permits or licenses in respect of any government requirement, or other Financial Indebtedness with respect to reimbursement type obligations regarding the foregoing; provided, however, that upon the drawing of such letters of credit or the incurrence of such Financial Indebtedness, such obligations are reimbursed within 30 days following such drawing or incurrence; and
(b) Financial Indebtedness arising from (i) facilities or services related to cash management, cash pooling, treasury, depository, overdraft, credit or debit card, p-cards (including purchasing cards or commercial cards), electronic funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade financial services or other cash management and cash pooling arrangements and (ii) daylight exposures of any member of the Group in respect of banking and treasury arrangements entered into in the ordinary course of business.
Permitted Financial Indebtedness. (a) Amend the definition of “Permitted Financial Indebtedness” to include a new limb for borrowings, loans or deferred consideration made available by a vendor in connection with a Permitted Acquisition.
(b) Amend Clause 19.13(b)(xxvii)(A) (Restrictions on Financial Indebtedness) to delete “€250,000,000” and to replace it with “€300,000,000”.
Permitted Financial Indebtedness. (a) amend the definition of Permitted Financial Indebtedness under the Credit Agreement to include, in addition to the existing “Permitted Financial Indebtedness” limbs, Financial Indebtedness incurred under borrowing facilities provided by a special purpose vehicle note issuer to a member of the Borrower Group in connection with the issuance of notes intended to be supported primarily by the payment obligations of any member of the Borrower Group in connection with any vendor financing platform otherwise permitted under the Credit Agreement; and
(b) amend sub-paragraph (b)(xxii) of Clause 19.13 (Restrictions on Financial Indebtedness) such that any Financial Indebtedness incurred thereunder shall not be subject to a proviso that it is subject to the terms of the Intercreditor Agreement.
Permitted Financial Indebtedness. (a) amend the definition of Permitted Financial Indebtedness under the Credit Agreement to include, in addition to the existing “Permitted Financial Indebtedness” limbs, Financial Indebtedness incurred under borrowing facilities provided by a special purpose vehicle note issuer to a member of the Group in connection with the issuance of notes intended to be supported primarily by the payment obligations of any member of the Group in connection with any vendor financing platform otherwise permitted under the Credit Agreement; and
(b) amend the new limb of the definition of Permitted Financial Indebtedness referred to at paragraph 16(d) of Schedule 5 (Further Amendments, Waivers, Consents and other Modifications) such that any Financial Indebtedness incurred thereunder shall not be subject to a proviso that it is subject to the terms of an intercreditor agreement on terms satisfactory to the Facility Agent and the Security Agent (in each case, acting reasonably).
Permitted Financial Indebtedness amend Clause 23.13 (Restrictions on Financial Indebtedness):
a. to remove the restriction, on not incurring Financial Indebtedness in contemplation of a Permitted Acquisitions and the requirement to discharge such Financial Indebtedness within six months of the date of completion of the acquisition;
b. amend Paragraph (xviii) thereof, to permit the Company to incur Financial Indebtedness under vendor financing arrangements and sale and leaseback transactions (to the extent they constitute Financial Indebtedness) up to the greater of £250,000,000 and the amount that could be incurred so that the pro forma Senior Net Debt to Annualised EBITDA is equal to or less than 4.50:1.00, provided that such vendor financing provider or lessor is not permitted to benefit from any Security Interest other than in respect of the assets subject to such financing arrangements;
c. to include a provision such that if that Financial Indebtedness meets the criteria of more than one of the types of Permitted Financial Indebtedness in the Paragraphs of Clause 23.13 (Restrictions on Financial Indebtedness), the Company, in its sole discretion, may classify such item of Financial Indebtedness on the date of its incurrence and shall only be required to include the amount and type of such Financial Indebtedness in one of such Paragraphs and will be permitted on the date of such incurrence to divide and classify an item of such Financial Indebtedness in more than one of the types of Financial Indebtedness, and, from time to time, may reclassify all or a portion of such Financial Indebtedness;
d. in Paragraph (xxv) thereof, permit the Company to incur Financial Indebtedness under the general basket of up to an aggregate of the greater of £330,000,000 and 3% of Total Assets; and
e. to include an express reference to permit any Financial Indebtedness in relation to a Permitted Transaction.
Permitted Financial Indebtedness. Unless otherwise agreed by the Majority Lenders the Borrower Group shall not incur additional financial indebtedness except for:
Permitted Financial Indebtedness. PRODUCTION FACILITIES
Permitted Financial Indebtedness. For the avoidance of doubt, but without derogating from clause 18.1.2, if any Financial Indebtedness is permitted to be incurred under clause 19.4.2 and, subsequent to the incurral of such Financial Indebtedness (but provided there was compliance with clause 19.4.2 at the time of incurral of such Financial Indebtedness), the Permitted Indebtedness Ratio be in excess of 2:1, the Consolidated Net Borrowings will not be required to be reduced so that the Permitted Indebtedness Ratio is not in excess of 2:1.