Common use of Restrictions on Debt Clause in Contracts

Restrictions on Debt. The Borrowers will not, and will not permit any Loan Party to, create, incur, assume, guarantee or be or remain liable, contingently or otherwise, with respect to any Debt other than: (a) Senior Debt in principal amount not in excess of the Maximum Lender Debt (as defined in the Intercreditor Agreement); (b) Debt to the Lender arising under any of the Loan Documents; (c) current liabilities of a Loan Party incurred in the ordinary course of business not incurred through (i) the borrowing of money, or (ii) the obtaining of credit except for credit on an open account basis customarily extended and in fact extended in connection with normal purchases of goods and services; (d) Debt incurred in the ordinary course of business in respect of taxes, assessments, governmental charges or levies and claims for labor, materials and supplies to the extent that payment therefor shall not at the time be required to be made in accordance with the provisions of Section 7.4; (e) Debt in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal so long as execution is not levied thereunder or in respect of which the Loan Party shall at the time in good faith be prosecuting an appeal or proceedings for review and in respect of which a stay of execution shall have been obtained pending such appeal or review; (f) endorsements for collection, deposit or negotiation and warranties of products or services, in each case incurred in the ordinary course of business; (g) Debt owed by any Loan Party to trade vendors, in the amount of the cost to the Loan Party of inventory held on consignment from such trade vendors, including, without limitation, in connection with and pursuant to agreements with the Loan Party's trade vendors; (h) All obligations of the Loan Parties in respect of the obligations of WHX under the WHX Subordinated Loan.

Restrictions on Debt. The Borrowers will not, and will not permit any Loan Party to, createCreate, incur, assume, guarantee or be or remain liable, contingently or otherwise, with respect to any Debt other than: (a) Senior Debt in principal amount not in excess of the Maximum Lender Debt (as defined in the Intercreditor Agreement); (b) Debt to the Lender Lenders arising under any of the Loan Documents; (cb) current liabilities of a Loan Party incurred in the ordinary course of business not including as incurred through (i) the borrowing of money, or (ii) the obtaining of credit except and for credit on an open account basis customarily extended and in fact extended in connection with normal purchases of goods and servicesservices (excluding for the avoidance of doubt merchant cash advances or any sale of receivables); (c) Debt of any Loan Party to another Loan Party; provided all such Debt shall be subject to the Intercompany Subordination Agreement; (d) Debt incurred in the ordinary course of business in respect of taxesTaxes, assessments, governmental charges or levies and claims for labor, materials and supplies to the extent that payment therefor shall not at the time be required to be made in accordance with the provisions of Section 7.43.3; (e) Debt in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal so long as execution is not levied thereunder or in respect of which the Loan Party Borrower or any of its Subsidiaries shall at the time in good faith be prosecuting an appeal or proceedings for review and in respect of which a stay of execution shall have been obtained pending such appeal or review; (f) endorsements for collection, deposit or negotiation and warranties of products or services, in each case incurred in the ordinary course of business; (g) Debt owed by any the Loan Party Parties to trade vendors, in the amount of the cost to the Loan Party Parties of inventory held on consignment from such trade vendors, including, without limitation, in connection with and pursuant to agreements with the Loan Party's ’s trade vendors; (h) All obligations vendors in the ordinary course of the Loan Parties in respect of the obligations of WHX under the WHX Subordinated Loan.business; and

Restrictions on Debt. The Borrowers will not, and will not permit any No Loan Party toshall directly or indirectly, create, incur, assume, guarantee guarantee, endorse or be or remain liable, contingently or otherwise, with respect to any Debt other than: (a) Senior Debt in principal amount not in excess of the Maximum Lender Debt (as defined in the Intercreditor Agreement); (b) Debt to the Lender Lenders arising under any of the Loan Documents; (b) Debt existing on the Issue Date listed on Schedule 8.2 that, if required by the Agent, is subject to an intercreditor agreement in form and substance satisfactory to the Agent; (c) current liabilities of a Loan Party the Borrower or the Guarantors incurred in the ordinary course of business not including as incurred through (i) the borrowing of money, or (ii) the obtaining of credit except and for credit on an open account basis customarily extended and in fact extended in connection with normal purchases of goods and servicesservices as well as any extensions, renewals, refinancings or replacements of any such liabilities or indebtedness; (d) Debt incurred in the ordinary course of business in respect of taxes, assessments, governmental charges or levies and claims for labor, materials and supplies to the extent that payment therefor shall not at the time be required to be made in accordance with the provisions of Section 7.4; (e) Debt in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal so long as execution is not levied thereunder or in respect of which the Loan Party Borrower or Guarantors shall at the time in good faith be prosecuting an appeal or proceedings for review and in respect of which a stay of execution shall have been obtained pending such appeal or review;; and (f) endorsements for collection, deposit or negotiation and warranties of products or services, in each case incurred in the ordinary course of business; (g) Debt owed by any Loan Party to trade vendors, in the amount of the cost to the Loan Party of inventory held on consignment from such trade vendors, including, without limitation, in connection with and pursuant to agreements with the Loan Party's trade vendors; (h) All obligations of the Loan Parties in respect of the obligations of WHX under the WHX Subordinated Loan.

Restrictions on Debt. The Borrowers will not, Borrower and its Subsidiaries will not permit any Loan Party to, create, incur, assume, guarantee or be or remain liable, contingently or otherwise, with respect to any Debt other than: (a) Senior Debt in principal amount not in excess of the Maximum Lender Debt (as defined in the Intercreditor Agreement); (b) Debt to the Lender arising under any of the Loan Documents; (cb) current liabilities of a Loan Party Borrower or its Subsidiaries incurred in the ordinary course of business not incurred through (i) the borrowing of money, or (ii) the obtaining of credit except for credit on an open account basis customarily extended and in fact extended in connection with normal purchases of goods and services; (c) outstanding liabilities of Borrower as of the date of execution of this Agreement all of which are listed on Schedule 8.2 attached hereto; (d) Debt incurred in the ordinary course Ordinary Course of business Business in respect of taxes, assessments, governmental charges or levies and claims for labor, materials and supplies to the extent that payment therefor shall not at the time be required to be made in accordance with the provisions of Section 7.4; (e) Debt in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal so long as execution is not levied thereunder or in respect of which the Loan Party Borrower or any its Subsidiaries shall at the time in good faith be prosecuting an appeal or proceedings for review and in respect of which a stay of execution shall have been obtained pending such appeal or review; (f) endorsements for collection, deposit or negotiation and warranties of products or services, in each case incurred in the ordinary course of business;; and (g) Debt owed by any Loan Party the Borrower or its Subsidiaries to trade vendors, in the amount of the cost to the Loan Party of inventory held on consignment from such trade vendors, including, without limitation, in connection with and pursuant to agreements with the Loan Party's such trade vendors; (h) All obligations of the Loan Parties in respect of the obligations of WHX under the WHX Subordinated Loan.

Restrictions on Debt. The Borrowers Borrower will not, and will not permit any Loan Party of the BNS Subsidiaries to, create, incur, assume, guarantee or be or remain liable, contingently or otherwise, with respect to any Debt other than: (a) Senior Debt in principal amount not in excess of the Maximum Lender Debt (as defined in the Intercreditor Agreement); (b) Debt to the Lender arising under any of the Loan Documents; (cb) current liabilities of a Loan Party the Borrower or such Subsidiary incurred in the ordinary course of business not incurred through (i) the borrowing of money, or (ii) the obtaining of credit except for credit on an open account basis customarily extended and in fact extended in connection with normal purchases of goods and services; (dc) Debt incurred in the ordinary course of business in respect of taxes, assessments, governmental charges or levies and claims for labor, materials and supplies to the extent that payment therefor shall not at the time be required to be made in accordance with the provisions of Section 7.4; (ed) Debt in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal so long as execution is not levied thereunder or in respect of which the Loan Party Borrower or such BNS Subsidiary shall at the time in good faith be prosecuting an appeal or proceedings for review and in respect of which a stay of execution shall have been obtained pending such appeal or review; (fe) endorsements for collection, deposit or negotiation and warranties of products or services, in each case incurred in the ordinary course of business;; and (gf) Debt owed by the Borrower or any Loan Party of the BNS Subsidiaries to trade vendors, in the amount of the cost to the Loan Party Borrower or such BNS Subsidiary of inventory held on consignment from such trade vendors, including, without limitation, in connection with and pursuant to agreements with the Loan PartyBorrower's trade vendors; (h) All obligations of the Loan Parties in respect of the obligations of WHX under the WHX Subordinated Loan.