Restriction on Subsidiary Indebtedness. The Borrower shall procure that the financial debt of its Subsidiaries shall at no time represent more than 30% of Total Debt. For the avoidance of doubt, for these purposes the “financial debt” of Subsidiaries shall be calculated in the same manner as “financial debt” of the Borrower, as described in the definition of Total Debt.
Appears in 2 contracts
Samples: Agreement (Alstom), Agreement (Alstom)
Restriction on Subsidiary Indebtedness. The Borrower shall procure that the financial debt of its Subsidiaries on a consolidated basis shall at no time represent more than 30% of Total Debt. For the avoidance of doubt, for these purposes the “financial debt” of Subsidiaries shall be calculated in the same manner as “financial debt” of the Borrower, as described in the definition of Total Debt.
Appears in 1 contract
Samples: Transfer Agreement (Alstom)
Restriction on Subsidiary Indebtedness. The Borrower shall procure that the financial debt of its Subsidiaries shall at no time represent more than 30% of Total Debt. For the avoidance of doubt, for these purposes the “financial debt” of Subsidiaries shall be calculated in the same manner as “financial debt” of the Borrower, as described in the definition of Total Debt.Total
Appears in 1 contract
Samples: Agreement (Alstom)
