Common use of Restrictions on Secured Indebtedness Clause in Contracts

Restrictions on Secured Indebtedness. If the Company or any Restricted Subsidiary incurs any Indebtedness secured by a Lien (other than a Permitted Lien) on any asset or property of the Company or any Restricted Subsidiary, the Company or such Restricted Subsidiary will secure the Notes equally and ratably with (or at the Company's option, prior to) such secured Indebtedness so long as such Indebtedness is so secured, unless the aggregate amount of all Indebtedness secured by Liens (other than Permitted Liens), together with all Attributable Indebtedness of the Company and the Restricted Subsidiaries with respect to any Sale/Leaseback Transactions (with the exception of such transactions which are excluded as set forth in subclauses (A) through (D) of clause (2) below), would not exceed 12.5% of Consolidated Net Tangible Assets.

Appears in 3 contracts

Samples: Indenture (Era Group Inc.), Indenture (Era Group Inc.), Indenture (Seacor Holdings Inc /New/)

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Restrictions on Secured Indebtedness. If the Company or any Restricted Subsidiary incurs Incurs any Indebtedness secured by a Lien (other than a Permitted Lien) on any asset Principal Property or property on any share of the Company stock or any Indebtedness of a Restricted Subsidiary, the Company or such Restricted Subsidiary will shall secure the Notes Securities equally and ratably ratable with (or or, at the Company's option, prior to) such secured Indebtedness so long as such Indebtedness is so secured, unless the aggregate amount of all Indebtedness such secured by Liens (other than Permitted Liens)Indebtedness, together with all Attributable Indebtedness Debt of the Company and the Restricted Subsidiaries with respect to any Sale/Leaseback Transactions involving Principal Properties (with the exception of such transactions which are excluded as set forth 76 described in subclauses clauses (Ai) through (Dv) of clause (2) belowSection 4.15(2), would not exceed 12.510% of Consolidated Net Tangible Assets.

Appears in 1 contract

Samples: Citgo Petroleum Corp

Restrictions on Secured Indebtedness. If the Company or any Restricted Subsidiary incurs any Indebtedness secured by a Lien (other than a Permitted Lien) on any asset or property of the Company or any Restricted Subsidiary, the Company or such Restricted Subsidiary will secure the Notes equally and ratably with (or at the Company's ’s option, prior to) such secured Indebtedness so long as such Indebtedness is so secured, unless the aggregate amount of all Indebtedness secured by Liens (other than Permitted Liens), together with all Attributable Indebtedness of the Company and the Restricted Subsidiaries with respect to any Sale/Leaseback Transactions (with the exception of such transactions which are excluded as set forth described in subclauses clauses (A) through (D) of clause (2Section 5.19(b)(ii) below), would not exceed 12.5% of Consolidated Net Tangible Assets.

Appears in 1 contract

Samples: Indenture (Bristow Group Inc.)

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Restrictions on Secured Indebtedness. If the Company or any Restricted Subsidiary incurs any Indebtedness secured by a Lien (other than a Permitted Lien) on any asset or property of the Company or any Restricted Subsidiary, the Company or such Restricted Subsidiary will secure the Notes equally and ratably with (or at the Company's ’s option, prior to) such secured Indebtedness so long as such Indebtedness is so secured, unless the aggregate amount of all Indebtedness secured by Liens (other than Permitted Liens), together with all Attributable Indebtedness of the Company and the Restricted Subsidiaries with respect to any Sale/Leaseback Transactions (with the exception of such transactions which are excluded as set forth in subclauses (A) through (D) of clause (2) below), would not exceed 12.5% of Consolidated Net Tangible Assets.

Appears in 1 contract

Samples: Third Supplemental Indenture (Bristow Group Inc)

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