Restricted Subsidiary Indebtedness. Permit any of its Restricted Subsidiaries to create or suffer to exist, any Indebtedness other than:
(a) Indebtedness created hereunder and under the other Loan Documents;
(b) Indebtedness of any Restricted Subsidiary owing to the Borrower or to a Restricted Subsidiary;
(c) Indebtedness existing on the Closing Date and described on Schedule 7.05 (including as Indebtedness permitted under this subsection any credit facilities or credit lines of any Restricted Subsidiary listed on such Schedule 7.05, whether or not such facilities or lines have been drawn upon by such Restricted Subsidiary) (the “Existing Subsidiary Indebtedness”) and any Indebtedness of the obligor of such Existing Subsidiary Indebtedness extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Subsidiary Indebtedness, provided that the principal amount of such Existing Subsidiary Indebtedness shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing;
(d) Indebtedness secured by Liens permitted by Section 7.01(g);
(e) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business;
(f) Indebtedness of Plum Creek Manufacturing and its Subsidiaries in an aggregate principal amount not exceeding $100,000,000;
(g) Indebtedness of any Restricted Subsidiary under the Assumption Agreements and any Indebtedness of the obligor of such Indebtedness extending the maturity of, or refunding or refinancing, in whole or in part, such Indebtedness, provided that the principal amount of such Indebtedness shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing;
(h) Indebtedness of a Restricted Subsidiary incurred for the purpose of acquiring Timberlands that is secured by Collateral in an amount equal to at least 95% of the outstanding principal balance thereof;
(i) Indebtedness of a Restricted Subsidiary incurred for the purpose of acquiring Timberlands that is assigned to the seller of such Timberlands or a designee of such seller subject to the condition that the seller or su...
Restricted Subsidiary Indebtedness. Incur, create, assume or guarantee or otherwise become liable in respect of any Indebtedness of a Restricted Subsidiary except:
(i) borrowings among the Borrower and the Restricted Subsidiaries;
(ii) extensions, renewals, or replacements of Indebtedness existing as of the date hereof (without increasing the principal amount thereof);
(iii) Indebtedness directly related to the acquisition or construction of Property or Equipment, but only to the extent of the purchase price or cost thereof, or any Indebtedness assumed by imposition of law in connection with the acquisition of an existing business; or
(iv) other Indebtedness in an aggregate amount not exceeding 15% of Consolidated Tangible Net Worth.
Restricted Subsidiary Indebtedness. 24 10.3. Limitation on Sale and Leaseback Transactions...............25 10.4. Limitation on Asset Sales...................................25 10.5. Financial Conditions........................................26 10.6. Merger, Consolidation, etc..................................27 10.7.
Restricted Subsidiary Indebtedness. Permit any of its Restricted Subsidiaries to create or suffer to exist, any Indebtedness other than:
Restricted Subsidiary Indebtedness. Incur, create, assume or guarantee or otherwise become liable in respect of any Indebtedness of a Restricted Subsidiary except: (i) borrowings among the Borrower and the Restricted Subsidiaries;
Restricted Subsidiary Indebtedness. 16 9.7 LIENS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 9.8 RESTRICTED PAYMENTS AND RESTRICTED INVESTMENTS . . . . . . . . . . . . . . . . . . . . . . 19 9.9
Restricted Subsidiary Indebtedness. The Company will not at any time permit the sum of
(a) Total Restricted Subsidiary Indebtedness at such time, plus, without duplication,
(b) the aggregate amount of all (i) Indebtedness and (ii) other obligations, in each case outstanding at such time and secured by Liens permitted by Section 6.9(a), to exceed ten percent (10%) of Consolidated Capitalization at such time.
Restricted Subsidiary Indebtedness. The Borrower will not permit the aggregate principal amount of Indebtedness of its Restricted Subsidiaries (excluding any Indebtedness of a Restricted Subsidiary owed to the Borrower or another Restricted Subsidiary, including, without duplication, any Guarantee by a Restricted Subsidiary of Indebtedness of the Borrower, and without double-counting Indebtedness of a Restricted Subsidiary that is Guaranteed by another Restricted Subsidiary) at any time to exceed $25,000,000.
Restricted Subsidiary Indebtedness. The Company will not permit any Restricted Subsidiary, directly or indirectly, expressly or by operation of law, to create, incur, assume, guarantee, in any manner become liable in respect of or suffer to exist any Restricted Subsidiary Indebtedness unless the sum of the principal amount of all Restricted Subsidiary Indebtedness outstanding and the aggregate outstanding amount of Secured Debt created, incurred or suffered to exist pursuant to Section 9.13 hereof at no time exceeds One Hundred Million Dollars ($100,000,000), and the creation, incurrence and existence of such Restricted Subsidiary Indebtedness does not otherwise give rise to or represent a Default or Event of Default. The Company will not permit Pioneer/Technologies, directly or indirectly, expressly or by operation of law, to create, incur, assume, guarantee, in any manner become liable in respect of or suffer to exist any Indebtedness unless the sum of the principal amount of all Indebtedness of Pioneer/Technologies outstanding at no time exceeds Seventy-Five Million Dollars ($75,000,000). Notwithstanding anything contained in this Section 9.14 to the contrary, the Company may permit and suffer to exist (a) any Restricted Subsidiary Guaranty of the Indebtedness of the Company incurred under the Credit Agreement, the Short-Term Facility or hereunder, (b) Indebtedness of any Restricted Subsidiary
Restricted Subsidiary Indebtedness. Permit any Restricted Subsidiary to create, incur, assume or permit to exist any Indebtedness, except:
(a) Indebtedness owing to a Borrower or any Subsidiary; provided that the Investment related thereto is permitted by Section 7.02(c);
(b) Guarantees of Indebtedness of any other Restricted Subsidiary to the extent such Indebtedness is otherwise permitted by this Section 7.03;
(c) Indebtedness of any Person that becomes a Restricted Subsidiary after the date hereof; provided that (i) such Indebtedness exists at the time such Person becomes a Subsidiary and is not created in contemplation of or in connection with such Person becoming a Subsidiary and (ii) after giving effect thereto, the Borrowers are in pro forma compliance with the financial covenant set forth in Section 7.10(a);
(d) Indebtedness incurred to finance the acquisition, construction or improvement of any fixed or capital assets (including any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof) and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof; provided that (i) such Indebtedness is incurred prior to or within 180 days after such acquisition or the completion of such construction or improvement and (ii) the aggregate principal amount of Indebtedness permitted by this clause (d) shall not exceed $5,000,000 at any time outstanding; and
(e) other Indebtedness in an aggregate principal amount (for all Restricted Subsidiaries combined, but without duplication) not exceeding $10,000,000 at any time outstanding.
