Common use of Priority Indebtedness Clause in Contracts

Priority Indebtedness. The Borrower will not, nor will it permit any Subsidiary to create, incur or suffer to exist any Priority Indebtedness unless, at the time of the creation, incurrence or assumption of such Priority Indebtedness and after giving effect thereto, the aggregate amount of all such Priority Indebtedness does not exceed an amount equal to 60% of the consolidated Net Worth of the Borrower and its Subsidiaries at such time.

Priority Indebtedness. The Borrower will not, nor will it permit --------------------- any Significant Subsidiary to to, create, incur or suffer to exist any Priority Indebtedness unless, at the time of the creation, incurrence or assumption of such Priority Indebtedness and after giving effect thereto, the aggregate amount of all such Priority Indebtedness does not exceed an amount equal to 60% thirty percent (30%) of the consolidated Consolidated Net Worth of the Borrower and its Subsidiaries at such time.

Priority Indebtedness. The Borrower will not, nor will it permit any --------------------- Significant Subsidiary to to, create, incur or suffer to exist any Priority Indebtedness unless, at the time of the creation, incurrence or assumption of such Priority Indebtedness and after giving effect thereto, the aggregate amount of all such Priority Indebtedness does not exceed an amount equal to 60% thirty percent (30%) of the consolidated Consolidated Net Worth of the Borrower and its Subsidiaries at such time.