Common use of Restriction on Leases Clause in Contracts

Restriction on Leases. Borrower shall not, nor shall it permit any of its Subsidiaries to, (i) become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether an Operating Lease or a Capital Lease (other than intercompany leases between or among Borrower and its wholly-owned Guarantors), or (ii) cause or permit the liability of Borrower or Subsidiary under or in respect of such lease to increase by any material amount, in each case unless, immediately after giving effect to such incurrence of or increase in liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current or any future period of 12 consecutive calendar months shall not exceed $25,000,000; provided that the Agent may approve increases in such amount of up to $12,500,000 in the aggregate in connection with Permitted Acquisitions.

Appears in 2 contracts

Samples: Credit Agreement (Joy Global Inc), Credit Agreement (Joy Global Inc)

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Restriction on Leases. Each Borrower shall not, nor and shall it not permit any of its Subsidiaries to, (i) become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether an Operating Lease or a Capital Lease (other than intercompany leases between or among Borrower Company and its wholly-owned GuarantorsSubsidiaries), or (ii) cause or permit the liability of such Borrower or Subsidiary under or in respect of such lease to increase by any material amount, in each case unless, immediately after giving effect to such incurrence of or increase in liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current or any future period of 12 consecutive calendar months shall not exceed $25,000,000; provided that the Agent may approve increases in such amount of up to $12,500,000 in the aggregate in connection with Permitted Acquisitions10,000,000.

Appears in 2 contracts

Samples: Credit Agreement (Hines Horticulture Inc), Credit Agreement (Hines Holdings Inc)

Restriction on Leases. Each Borrower shall not, nor and shall it not permit any of its Subsidiaries to, (i) become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether an Operating Lease or a Capital Lease (other than intercompany leases between or among Borrower Company and its wholly-owned GuarantorsSubsidiaries), or (ii) cause or permit the liability of such Borrower or Subsidiary under or in respect of such lease to increase by any material amount, in each case unless, immediately after giving effect to such incurrence of or increase in liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current or any future period of 12 consecutive calendar months shall not exceed $25,000,000; provided that the Agent may approve increases in such amount of up to $12,500,000 in the aggregate in connection with Permitted Acquisitions.10,000,000. 125

Appears in 1 contract

Samples: Credit Agreement (Hines Horticulture Inc)

Restriction on Leases. Each Borrower shall not, nor and shall it not permit any of its Subsidiaries to, (i) become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether an Operating Lease or a Capital Lease (other than intercompany leases between or among Borrower Company and its wholly-owned GuarantorsSubsidiaries), or (ii) cause or permit the liability of such Borrower or Subsidiary under or in respect of such lease to increase by any material amount, in each case unless, immediately after giving effect to such incurrence of or increase in liability with respect to 135 such lease, the Consolidated Rental Payments at the time in effect during the then current or any future period of 12 consecutive calendar months shall not exceed $25,000,000; provided that the Agent may approve increases in such amount of up to $12,500,000 in the aggregate in connection with Permitted Acquisitions1,500,000.

Appears in 1 contract

Samples: Credit Agreement (Hines Holdings Inc)

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Restriction on Leases. Borrower Company shall not, nor and shall it not permit any of its Subsidiaries to, (i) become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether an Operating Lease or a Capital Lease (other than intercompany leases between or among Borrower Company and its whollyWholly-owned Owned Subsidiary Guarantors), or (ii) cause or permit the liability of Borrower Company or Subsidiary under or in respect of such lease to increase by any material amount, in each case unless, immediately after giving effect to such incurrence of or increase in liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current or any future period of 12 consecutive calendar months shall not exceed $25,000,000; provided that the Agent may approve increases in such amount of up to $12,500,000 in the aggregate in connection with Permitted Acquisitions.20,000,000. 137

Appears in 1 contract

Samples: Credit Agreement (Katy Industries Inc)

Restriction on Leases. Borrower shall not, nor shall it permit any of its Subsidiaries to, (i) become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease, whether an Operating Lease or a Capital Lease (other than intercompany leases between or among Borrower and its wholly-owned Guarantors), or (ii) cause or permit the liability of Borrower or Subsidiary under or in respect of such lease to increase by any material amount, in each case unless, immediately after giving effect to such incurrence of or increase in liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current or any future period of 12 consecutive calendar months shall not exceed $25,000,000; provided that the Agent may approve increases in such amount of up to $12,500,000 in the aggregate in connection with Permitted Acquisitions15,000,000.

Appears in 1 contract

Samples: Credit Agreement (Joy Global Inc)

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