Restricted Subsidiary Debt Sample Clauses
Restricted Subsidiary Debt. The Borrower will not permit any Restricted Subsidiary to create, incur, assume or permit to exist any Debt, except:
(a) Debt owed to the Borrower or any other Restricted Subsidiary; and
(b) other Debt in an aggregate principal amount for all Restricted Subsidiaries not exceeding $50,000,000 at any time.
Restricted Subsidiary Debt. The Company will not at any time permit the sum of (i) Total Restricted Subsidiary Debt at such time plus, without duplication, (ii) the aggregate amount of all Debt and other obligations outstanding at such time secured by Liens permitted by clause (v), clause (vi) and clause (vii) of Section 6.6(a) to exceed (A) on or before July 31, 1997, fifteen percent (15%) of Consolidated Tangible Net Worth or (B) on or after August 1, 1997, twenty percent (20%) of Consolidated Tangible Net Worth.
Restricted Subsidiary Debt. From and after the Guaranty Release Date, -------------------------- the Borrower will not permit any Restricted Subsidiary to create, incur, assume or permit to exist any Debt, except:
(a) Debt existing on the date hereof and described on Schedule 7.05;
(b) Debt owed to the Borrower or any other Restricted Subsidiary; and
(c) other Debt in an aggregate principal amount for all Restricted Subsidiaries not exceeding $50,000,000 at any time.
Restricted Subsidiary Debt. The Company will not permit any Restricted Subsidiary to have outstanding or in any other manner be liable in respect of any Debt other than Permitted Restricted Subsidiary Debt.
Restricted Subsidiary Debt. The Company will not at any time permit any Restricted Subsidiary to, directly or indirectly, create, incur, assume, guarantee, have outstanding, or otherwise become or remain directly or indirectly liable with respect to, any Debt other than:
(a) Debt of a Restricted Subsidiary permitted pursuant to Section 10.1(b);
(b) Debt of a Restricted Subsidiary to the Company or a Wholly-Owned Restricted Subsidiary;
(c) secured Debt of a Restricted Subsidiary secured by Liens permitted by Section 10.4(h), and any Refinancing thereof, provided that (i) the principal amount of the Debt resulting from such Refinancing shall not exceed the outstanding principal amount of such Debt being Refinanced, together with any accrued interest and premium with respect thereto and any and all costs and expenses related to such Refinancing, (ii) the maturity date of the Debt resulting from such Refinancing shall not be earlier than the maturity date of the Debt being Refinanced, (iii) the average life to maturity of the Debt resulting from such Refinancing shall not be less than the average life to maturity of the Debt being Refinanced and (iv) no Default or Event of Default exists at the time of such Refinancing;
(d) Debt of a Restricted Subsidiary in addition to that otherwise permitted by the foregoing provisions of this Section 10.3, provided that on the date the Restricted Subsidiary incurs or otherwise becomes liable with respect to any such additional Debt and immediately after giving effect thereto and the concurrent retirement of any other Debt,
(i) no Default or Event of Default exists, and
(ii) Priority Debt does not exceed 12.5% of Consolidated Assets. For the purposes of this Section 10.3, any Person becoming a Restricted Subsidiary after the date hereof shall be deemed, at the time it becomes a Restricted Subsidiary, to have incurred all of its then outstanding Debt, and any Person Refinancing any Debt shall be deemed to have incurred such Debt at the time of such Refinancing. Also for purposes of this Section 10.3, the Debt of any Restricted Subsidiary to any Wholly-Owned Restricted Subsidiary the shares of which are sold by the Company pursuant to Section 10.8(c)(1)(B) shall be deemed to have been incurred at the time of such sale.
Restricted Subsidiary Debt. The Borrower will not permit the Restricted Subsidiaries who are not party to a Guarantee Agreement to incur, assume or otherwise become liable for principal amounts of Consolidated Total Debt which in the aggregate, together with the aggregate of the principal amounts secured by all Security Interests permitted by paragraph (n) of the definition of Permitted Encumbrances, exceed 5% of the Consolidated Tangible Assets as at the end of the Borrower's previous fiscal quarter.
Restricted Subsidiary Debt. The Company will not at any time permit any Restricted Subsidiary to, directly or indirectly, create, incur, assume, guarantee, or otherwise be or become directly or indirectly liable with respect to, any Debt, other than (x) Debt owing to any other Restricted Subsidiary or to the Company (including any Guaranty of any Debt of any Restricted Subsidiary) and (y) the Excluded Guaranties, unless (without duplication)
(a) the aggregate amount of unsecured Debt of all Restricted Subsidiaries, including, without limitation, the IBH Debt, outstanding at such time (other than (i) any such Debt owing to the Company or Restricted Subsidiaries and (ii) the Excluded Guaranties), plus
(b) the aggregate amount of obligations secured by Liens permitted pursuant to Section 10.5(j) outstanding at such time, does not exceed 15% of Consolidated Total Capitalization determined at such time.
Restricted Subsidiary Debt. The Borrower will not permit the Restricted Subsidiaries who are not Material Restricted Subsidiaries and party to the Guarantee Agreement to incur, assume or otherwise become liable for Consolidated Total Debt which in aggregate exceeds $100,000,000.
Restricted Subsidiary Debt. Without limiting the restrictions contained in Section 10.11, the Company will not at any time permit any Restricted Subsidiary to, directly or indirectly, create, incur, assume, guarantee, have outstanding, or otherwise become or remain directly or indirectly liable with respect to, any Debt other than:
(a) Debt owed to the Company or a Wholly-Owned Restricted Subsidiary;
(b) Debt of a Restricted Subsidiary outstanding at the time such Subsidiary becomes a Restricted Subsidiary, provided that (i) such Debt shall not have been incurred in contemplation of such Subsidiary becoming a Restricted Subsidiary and (ii) immediately after such Subsidiary becomes a Restricted Subsidiary no Default or Event of Default shall exist, and provided further that such Debt may not be extended, renewed or refunded except as otherwise permitted by this Agreement; and
(c) Debt of a Restricted Subsidiary in addition to that otherwise permitted by subparagraph (a) or (b) of this Section 10.7, provided that the total amount of Priority Debt at no time exceeds 20% of Consolidated Net Worth.
Restricted Subsidiary Debt. 23 Section 10.4. Liens............................................................................................23 Section 10.5.