Common use of Restrictions on Secured Indebtedness Clause in Contracts

Restrictions on Secured Indebtedness. None of the Borrowers nor any of their Consolidated Subsidiaries shall create, incur, assume, or be or remain liable, contingently or otherwise, with respect to any Secured Indebtedness other than: (a) Secured Indebtedness consisting of (i) Indebtedness of Ryder’s Consolidated Subsidiaries to a Borrower and (ii) unsecured Intercompany Indebtedness; and (b) other Secured Indebtedness (including, without limitation, Indebtedness under capitalized leases); provided that the aggregate amount of Secured Indebtedness outstanding, pursuant to this §9.1(b) shall not exceed at any time thirty percent (30%) of the Adjusted Consolidated Tangible Assets of Ryder and its Consolidated Subsidiaries, determined at such time. For purposes of calculating the amount of Secured Indebtedness of Ryder and its Consolidated Subsidiaries under §9.1(b), Ryder shall be deemed to have incurred Secured Indebtedness in an amount equal to the aggregate amount of all Derivatives Obligations which are secured by a lien permitted pursuant to Section §9.2(e).

Restrictions on Secured Indebtedness. None of the Borrowers nor any of their Consolidated Subsidiaries shall create, incur, assume, or be or remain liable, contingently or otherwise, with respect to any Secured Indebtedness other than: (a) Secured Indebtedness consisting of (i) Indebtedness of Ryder’s 's Consolidated Subsidiaries to a Borrower and (ii) unsecured Intercompany Indebtedness; and (b) other Secured Indebtedness (including, without limitation, Indebtedness under capitalized leases); , provided that the aggregate amount of Secured Indebtedness outstanding, pursuant to this §Section 9.1(b) shall not exceed at any time thirty percent (30%) of the Adjusted Consolidated Tangible Assets of Ryder and its Consolidated Subsidiaries, determined at such time. For purposes of calculating the amount of Secured Indebtedness of Ryder and its Consolidated Subsidiaries under §Section 9.1(b), Ryder shall be deemed to have incurred Secured Indebtedness in an amount equal to the aggregate amount of all Derivatives Obligations which are secured by a lien permitted pursuant to Section §9.2(e).

Restrictions on Secured Indebtedness. None of the Borrowers will, nor xxxx Xxxxx permit any of their its Consolidated Subsidiaries shall to, create, incur, assume, or be or remain liable, contingently or otherwise, with respect to any Secured Indebtedness Indebtedness, other than: (a) Secured Indebtedness consisting of (i) Indebtedness of Ryder’s Consolidated Subsidiaries to a Borrower Borrower, and (ii) unsecured Intercompany Indebtedness; and (b) other Secured Indebtedness (including, without limitation, including Indebtedness under capitalized leasesCapitalized Leases); provided that provided, that, the aggregate amount of Secured Indebtedness outstanding, pursuant to incurred in reliance on this §9.1(bSection 7.01(b) and outstanding at any time shall not exceed at any time an amount equal to thirty percent (30%) of the Adjusted Consolidated Tangible Assets of Ryder and its Consolidated Subsidiaries, determined at such time. For purposes of calculating the amount of Secured Indebtedness of Ryder and its Consolidated Subsidiaries under §9.1(bSection 7.01(b), Ryder shall be deemed to have incurred Secured Indebtedness in an amount equal to the aggregate amount of all Derivatives Obligations which are secured by a lien permitted pursuant to Section §9.2(e7.02(e).

Restrictions on Secured Indebtedness. None of the Borrowers will, nor xxxx Xxxxx permit any of their its Consolidated Subsidiaries shall to, create, incur, assume, or be or remain liable, contingently or otherwise, with respect to any Secured Indebtedness Indebtedness, other than: (a) Secured Indebtedness consisting of (i) Indebtedness of Ryder’s Xxxxx’x Consolidated Subsidiaries to a Borrower Borrower, and (ii) unsecured Intercompany Indebtedness; and (b) other Secured Indebtedness (including, without limitation, including Indebtedness under capitalized leasesCapitalized Leases); provided that provided, that, the aggregate amount of Secured Indebtedness outstanding, pursuant to incurred in reliance on this §9.1(bSection 7.01(b) and outstanding at any time shall not exceed at any time an amount equal to thirty percent (30%) of the Adjusted Consolidated Tangible Assets of Ryder and its Consolidated Subsidiaries, determined at such time. For purposes of calculating the amount of Secured Indebtedness of Ryder and its Consolidated Subsidiaries under §9.1(bSection 7.01(b), Ryder Xxxxx shall be deemed to have incurred Secured Indebtedness in an amount equal to the aggregate amount of all Derivatives Obligations which are secured by a lien permitted pursuant to Section §9.2(e7.02(e).

Restrictions on Secured Indebtedness. None of the Borrowers nor any of their Consolidated Subsidiaries shall create, incur, assume, or be or remain liable, contingently or otherwise, with respect to any Secured Indebtedness other than: (a) Secured Indebtedness consisting of (i) Indebtedness of Ryder’s Consolidated Subsidiaries to a Borrower and (ii) unsecured Intercompany Indebtedness; and (b) other Secured Indebtedness (including, without limitation, Indebtedness under capitalized leases); , provided that the aggregate amount of Secured Indebtedness outstanding, pursuant to this §9.1(b) shall not exceed at any time thirty percent (30%) of the Adjusted Consolidated Tangible Assets of Ryder and its Consolidated Subsidiaries, determined at such time. For purposes of calculating the amount of Secured Indebtedness of Ryder and its Consolidated Subsidiaries under §9.1(b), Ryder shall be deemed to have incurred Secured Indebtedness in an amount equal to the aggregate amount of all Derivatives Obligations which are secured by a lien permitted pursuant to Section §9.2(e).

Restrictions on Secured Indebtedness. None of the Borrowers nor any of their Consolidated Subsidiaries shall create, incur, assume, or be or remain liable, contingently or otherwise, with respect to any Secured Indebtedness other than: (a) Secured Indebtedness consisting of (i) Indebtedness of Ryder’s Consolidated Subsidiaries to a Borrower and (ii) unsecured Intercompany Indebtedness; and (b) other Secured Indebtedness (including, without limitation, Indebtedness under capitalized leases); , provided that the aggregate amount of Secured Indebtedness outstanding, pursuant to this §9.1(b) shall not exceed at any time thirty percent (30%) of the Adjusted Consolidated Tangible Assets of Ryder and its Consolidated Subsidiaries, determined at such time. For purposes of calculating the amount of Secured Indebtedness of Ryder and its Consolidated Subsidiaries under §9.1(b), Ryder shall be deemed to have incurred Secured Indebtedness in an amount equal to the aggregate amount of all Derivatives Obligations which are secured by a lien permitted pursuant to Section §9.2(e).