Common use of Priority Indebtedness Clause in Contracts

Priority Indebtedness. The Company will not, and will not permit any Subsidiary to, incur any Priority Indebtedness at any time unless at the time of the incurrence thereof and after giving effect thereto, the aggregate amount of all Priority Indebtedness would not exceed 20% of Consolidated Net Worth, determined as of the end of the then most recently ended fiscal quarter of the Company.

Appears in 4 contracts

Samples: Note Purchase Agreement (Teledyne Technologies Inc), Note Purchase Agreement (Teledyne Technologies Inc), Note Purchase Agreement (Teledyne Technologies Inc)

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Priority Indebtedness. The Company will not, and will not permit any Subsidiary to, incur any Priority Indebtedness at any time unless at the time of the incurrence thereof and after giving effect thereto, permit the aggregate amount of all Priority Indebtedness would not to exceed 2010% of Consolidated Net Worth, Worth (Consolidated Net Worth to be determined as of the end of the then most recently ended fiscal quarter of the Company).

Appears in 3 contracts

Samples: Private Shelf Agreement (Azz Inc), Note Purchase Agreement (Azz Inc), Note Purchase Agreement (Azz Inc)

Priority Indebtedness. The Company will not, and will not permit any Subsidiary to, incur any Priority Indebtedness at any time unless at the time of the incurrence thereof and after giving effect thereto, permit the aggregate amount of all Priority Indebtedness would not to exceed 2010% of Consolidated Net Worth, determined as of the end of the then most recently ended fiscal quarter of the Company.

Appears in 2 contracts

Samples: Note Purchase Agreement (Fair Isaac Corp), Note Purchase Agreement (Fair Isaac Corp)

Priority Indebtedness. The Company will not, and nor will not it permit any Subsidiary toto create, incur or suffer to exist any Priority Indebtedness at any time unless unless, at the time of the creation, incurrence thereof or assumption of such Priority Indebtedness and after giving effect thereto, the aggregate amount of all such Priority Indebtedness would does not exceed 20an amount equal to 60% of Consolidated the consolidated Net Worth, determined as Worth of the end of the then most recently ended fiscal quarter of the CompanyCompany and its Subsidiaries at such time.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Arvinmeritor Inc), 5 Year Revolving Credit Agreement (Arvinmeritor Inc)

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Priority Indebtedness. 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 Indebtedness at any time Indebtedness, unless at the time of the incurrence thereof and after giving effect theretothereto and to the application of the proceeds thereof, the aggregate amount of all Priority Indebtedness would not exceed 2015% of Consolidated Net Worth, Worth (Consolidated Net Worth to be determined as of the end of the then most recently ended fiscal quarter of the Company).

Appears in 1 contract

Samples: Note Purchase Agreement (Intercontinentalexchange Inc)

Priority Indebtedness. The Company will not, and will not at any time permit any Subsidiary toto create, assume, incur or otherwise become liable in respect of any Priority Indebtedness at any time unless unless, at the time of the such creation, assumption or incurrence thereof and immediately after giving effect theretothereto and to the application of the proceeds thereof, (x) the aggregate then outstanding principal amount of all Priority Indebtedness would shall not exceed 2025% of Consolidated Net Worth, determined Worth as of the end of the then most recently ended immediately preceding fiscal quarter year of the Company., and (y) the Company could incur at least $1 of additional Funded Indebtedness in compliance with Section 4.01A.

Appears in 1 contract

Samples: Loan Agreement (North Star Universal Inc)

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