Restrictions on Secured Debt. In the event the Company or any Domestic Subsidiary incurs, issues, assumes or guarantees any indebtedness for borrowed money represented by notes, bonds, debentures or other similar evidences of indebtedness, secured by a mortgage, pledge or other lien on any Principal Domestic Property or on any shares of stock or debt of any Domestic Subsidiary, the Company will secure, or cause such Domestic Subsidiary to secure, the Securities equally and ratably with, or prior to, that indebtedness, so long as that indebtedness is to be secured, unless after giving effect to it the aggregate amount of all secured indebtedness, together with all Attributable Debt in respect of sale and leaseback transactions involving Principal Domestic Properties, would not exceed 15% of Consolidated Net Assets. This restriction will not apply to, and there shall be excluded in computing secured indebtedness for the purpose of this restriction, indebtedness secured by:
Appears in 4 contracts
Samples: Sabre Holding Corp, Integrated Circuit Systems Inc, Sabre Holdings Corp
