Restriction on Borrowings. In the case that the substitution of the proposed Substituted Mortgaged Property is not to occur simultaneously with the release of the proposed Collateral Release Property, from and after the release of the proposed Collateral Release Property until the addition of the proposed Substituted Mortgaged Property into the Collateral Pool in accordance with this Section 7.04, the Borrower shall not be permitted to have the aggregate unpaid principal balance of Loans Outstanding to be in excess of an amount equal to the then-existing Commitment minus the Allocable Credit Facility Amount attributable to the Collateral Release Property that was released, unless the Borrower shall have delivered to the Lender additional collateral reasonably acceptable to the Lender in an amount at least equal to such Allocable Credit Facility Amount. In the event that the aggregate unpaid principal balance of Advances Outstanding exceeds such amount (and additional collateral in an amount at least equal to the applicable Allocable Credit Facility Amount has not been delivered by the Borrower to the Lender), as a condition precedent to the substitution of a Substituted Mortgaged Property into the Collateral Pool, the Borrower shall pay such excess. Notwithstanding the foregoing, in no event shall the value of the additional collateral exceed 15% of the principal balance of the Loans Outstanding. Any payment received by the Lender under this Section 7.04(d) shall be applied against Loans Outstanding in the manner prescribed for Release Prices pursuant to Section 7.02. The additional collateral shall be released to the Borrower upon the addition of the applicable Substituted Mortgaged Property to the Collateral Pool in accordance with this Section 7.05.
Restriction on Borrowings. If the addition of the Substitute Mortgaged Property and the release of the Release Property does not occur simultaneously then, until the addition of the Substitute Mortgaged Property, the aggregate unpaid principal balance of Advances Outstanding shall not exceed the amount of the then-existing Commitment minus the Allocable Facility Amount of the Release Property, unless Borrower has delivered additional Collateral reasonably acceptable to Lender in an amount at least equal to such Allocable Facility Amount. If the aggregate unpaid principal balance of Advances Outstanding exceeds such amount (and satisfactory additional Collateral has not been delivered by Borrower to Lender), Borrower shall pay such excess as a condition precedent to the addition of a Substitute Mortgaged Property. Notwithstanding the foregoing, in no event shall the value of the additional Collateral exceed 15% of the principal balance of the Advances Outstanding. Any payment received by Lender under this Section shall be applied against Advances Outstanding in the manner prescribed for Release Prices pursuant to Section 3.04(d). The additional Collateral shall be released to Borrower upon the addition of the applicable Substitute Mortgaged Property to the Collateral Pool.
Restriction on Borrowings. If the Addition of the Substitute Mortgaged Property to the Collateral Pool and the release of the Release Mortgaged Property from the Collateral Pool do not occur simultaneously (i.e., within thirty (30) days pursuant to Section 3.05(d) above) then, until the Addition of the Substitute Mortgaged Property to the Collateral Pool, the aggregate principal balance of Advances Outstanding shall not exceed the amount of the (i) Advances Outstanding immediately prior to the release of such Release Mortgaged Property minus (ii) the Allocable Facility Amount of the Release Mortgaged Property. If the aggregate unpaid principal balance of Advances Outstanding exceeds the amount resulting from subtracting (i) minus (ii) in the preceding sentence, Borrower shall pay such excess amount as a condition precedent to any Future Advances made under this Agreement and the Addition of a Substitute Mortgaged Property. Any payment received by Lender under this Section 3.05 shall be applied against Advances Outstanding in the manner prescribed for Release Prices pursuant to Section 3.04(c).
Restriction on Borrowings. If the Addition of the Substituted Mortgaged Property to the Collateral Pool and the release of the Collateral Release Property from the Collateral Pool do not occur simultaneously (i.e., within thirty (30) days), then, until the Addition of the Substituted Mortgaged Property to the Collateral Pool, no Future Advance will be permitted except and unless after the release of the Collateral Release Property all conditions of Section 7.03 have been satisfied.
Restriction on Borrowings. The Company shall ensure that none of its Subsidiaries incurs any Borrowings other than:
(a) Borrowings owed by one member of the Group (other than Austria Xxxxx and its Subsidiaries) to another member of the Group;
(b) Borrowings owed by one member of the Austria Xxxxx Group to another member of the Austria Xxxxx Group;
(c) Borrowings of the Subsidiaries of the Company (other than Austria Xxxxx and its Subsidiaries) not exceeding (in aggregate) £100,000,000 or its equivalent;
(d) Borrowings of Austria Xxxxx and its Subsidiaries not exceeding (in aggregate) €400,000,000 or its equivalent; and Back to Contents
Restriction on Borrowings. (a) No member of the Group will incur or have outstanding any Borrowings other than:
(i) under the Finance Documents;
(ii) for the purpose of refinancing the Facilities in full on the date on which such Borrowings are first utilised;
(iii) for the purpose of refinancing part of the Facility so long as all utilisations of such Borrowings shall be applied first to repay outstanding Facility A Loans (and if any portion of the Borrowings referred to above remains unused after the Facility A Loans have been repaid or prepaid in full, an amount of the Facility B Commitments equal to the amount of that portion shall be cancelled);
(iv) Borrowings owing by one member of the Group to another member of the Group;
(v) Subordinated Debt;
(vi) in the case of YPG and its Subsidiaries, Borrowings secured under paragraph (c) of the definition of Permitted Security Interests up to the amount set out in sub- paragraph (c)(i) of that definition unless that Security Interest is to be discharged under sub-paragraph (c)(ii) of that definition;
(vii) in the case of YPG and its Subsidiaries, Borrowings under any recourse disposal of receivables where that disposal is permitted under Clause 16.10(d)(x) (Disposals);
(viii) Project Finance Borrowings;
(ix) in the case of YPG and its Subsidiaries (other than YEG and its Subsidiaries) any Borrowings existing at the date of this Agreement or any refinancing of those Borrowings, provided that the principal amount of those Borrowings is not increased;
(x) with the prior written consent of the Majority Banks; or
(xi) any other Borrowings of YEG or any of its Subsidiaries in an amount which, after deducting Investments of YEG or any of its Subsidiaries do not exceed in aggregate (POUND)700,000,000 (including under the Finance Documents and the YEG Facility).
Restriction on Borrowings. If the addition of the Substitute Mortgaged Property to the Collateral Pool and the release of the Release Mortgaged Property from the Collateral Pool do not occur simultaneously then, until the addition of the Substitute Mortgaged Property to the Collateral Pool, no Future Advances or other Requests (other than a Credit Facility Termination Request, which shall be permitted subject to satisfaction of the conditions in Article 4, and other than a Conversion pursuant to a Conversion Request, which shall be permitted subject to satisfaction of the conditions in Section 1.07; provided, however, with respect to any Conversion, the Substitution Deposit shall be recalculated based on the provisions in this Section 3.05 and Borrower shall deposit with Lender as additional Collateral all increases, if any, in such Substitution Deposit within five (5) days after receipt of notice of the same) will be permitted unless and until the provisions of Section 3.05(e)(iii) are satisfied.
Restriction on Borrowings. In the case that the substitution of the proposed Substituted Mortgaged Property is not to occur simultaneously with the release of the proposed Collateral Release Property, from and after the release of the proposed Collateral Release Property until the addition of the proposed Substituted Mortgaged Property into the Collateral Pool in accordance with this Section 7.04, the Borrower shall not be permitted to have the aggregate unpaid principal balance of Loans Outstanding to be in excess of an amount equal to the then-existing Commitment minus the Allocable Credit Facility Amount attributable to the Collateral Release Property that was released, unless the Borrower shall have delivered to the
Restriction on Borrowings. The Company will procure that the aggregate Borrowings of the Target and its subsidiaries taken together on a consolidated basis and giving effect to the proviso to the definition of Borrowings plus (to the extent not otherwise included in Borrowings of the Target and/or its subsidiaries) the amount of any actual or contingent liability of the Target and/or its subsidiaries (1) for Borrowings at that time of any Person in which the Target or any of its subsidiaries has an ownership interest, or (2) to provide funds by loan, subscription for share capital or otherwise to any person in which the Target or any of its subsidiaries has an ownership interest, will not exceed the sum of the following:
(A) the outstanding principal amount from time to time of any Utilisation of the Revolving Facility and the Overdraft Facility made by such companies;
(B) the principal amount of all Borrowings of such companies outstanding at the Unconditional Date save to the extent refinanced by Utilisation of the Revolving Facility made by such companies;
(C) the outstanding principal amount from time to time of all Borrowings of such companies for which the only creditor is the Company and/or Bidco;
Restriction on Borrowings neither SCC nor any member of the Tobacco Group shall incur or permit to subsist Borrowings, except Permitted Borrowings;
