Common use of Procuring of Debt funding Clause in Contracts

Procuring of Debt funding. Alcoa must procure that long term Debt funding is provided to the Enterprise Companies by appropriate external lenders on an ongoing basis for the purposes of Enterprise Growth Projects (whether or not those Enterprise Growth Projects are related to the Enterprise Company that receives such long-term Debt funding) within 12 months following the first time after the Distribution Date that obtaining such Debt becomes permissible under the Revolving Facility, so that: (i) the aggregate Debt of the Enterprise Companies taken as a whole is the Target Enterprise Debt Level; and (ii) the aggregate Debt of the Enterprise Companies taken as a whole is maintained at the Target Enterprise Debt Level thereafter, provided that, if Alcoa’s credit rating would reasonably be expected to be downgraded by Xxxxx’x and/or Standard & Poors due to the level of Debt raised or maintained pursuant to this Section 9(a), the aggregate Debt of the Enterprise Companies must not exceed the level of Debt that is consistent with avoiding such downgrade.