Common use of Special Restrictions Relating to Principal Property Clause in Contracts

Special Restrictions Relating to Principal Property. The Borrower will not, nor will permit any Subsidiary Guarantor to, (i) own or acquire any Principal Property (other than the Principal Properties designated on Schedule XVII hereto) or (ii) directly or indirectly, create, incur, issue, assume, guarantee or otherwise become liable for or suffer to exist any Indebtedness secured by a Lien on any Principal Property; provided however that, notwithstanding the foregoing, (x) the Borrower and its Subsidiaries may acquire (by way of third-party purchase) up to (but not more than) two Principal Properties after the Initial Borrowing Date and, thereafter, own such Principal Properties and (y) the Borrower and its Subsidiaries may own additional Principal Properties which are not Principal Properties on the Initial Borrowing Date (or, if acquired after the Initial Borrowing Date, on such date of acquisition) if (x) the respective Principal Property becomes a Principal Property after the Initial Borrowing Date (or such date of acquisition) as a result of the making of capital expenditures or other investments in such Property by the Borrower or the respective Subsidiary or (y) the respective Principal Property is constructed by the Borrower or the respective Subsidiary.

Appears in 3 contracts

Samples: Intercreditor Agreement (Dole Food Co Inc), Intercreditor Agreement (Dole Food Co Inc), Credit Agreement (Dole Food Co Inc)

AutoNDA by SimpleDocs

Special Restrictions Relating to Principal Property. The Borrower will notNo Credit Agreement Party will, nor will permit any Subsidiary Guarantor of its Subsidiaries to, (i) own or acquire any Principal Property (other than the Principal Properties designated on Schedule XVII XV hereto) or (ii) directly or indirectly, create, incur, issue, assume, guarantee or otherwise become liable for or suffer to exist any Indebtedness secured by a Lien on any Principal Property; provided however provided, however, that, notwithstanding the foregoing, (x) the U.S. Borrower and its Subsidiaries may acquire (by way of third-third- party purchase) up to (but not more than) two Principal Properties after the Initial Borrowing Restatement Effective Date and, thereafter, own such Principal Properties and (y) the U.S. Borrower and its Subsidiaries may own additional Principal Properties which are not Principal Properties on the Initial Borrowing Restatement Effective Date (or, if acquired after the Initial Borrowing Restatement Effective Date, on such date of acquisition) if (x) the respective Principal Property becomes a Principal Property after the Initial Borrowing Restatement Effective Date (or such date of acquisition) as a result of the making of capital expenditures or other investments in such Property by the U.S. Borrower or the respective Subsidiary or (y) the respective Principal Property is constructed by the U.S. Borrower or the respective Subsidiary.

Appears in 3 contracts

Samples: Credit Agreement (Dole Food Co Inc), Credit Agreement (Dole Food Co Inc), Credit Agreement (Dole Food Co Inc)

Special Restrictions Relating to Principal Property. The Borrower will notNo Credit Agreement Party will, nor will permit any Subsidiary Guarantor to, (i) own or acquire any Principal Property (other than the Principal Properties designated on Schedule XVII hereto) or (ii) directly or indirectly, create, incur, issue, assume, guarantee or otherwise become liable for or suffer to exist any Indebtedness secured by a Lien on any Principal Property; provided however that, notwithstanding the foregoing, (x) the Borrower and its Subsidiaries may acquire (by way of third-party purchase) up to (but not more than) two Principal Properties after the Initial Borrowing Date and, thereafter, own such Principal Properties and (y) the Borrower and its Subsidiaries may own additional Principal Properties which are not Principal Properties on the Initial Borrowing Date (or, if acquired after the Initial Borrowing Date, on such date of acquisition) if (x) the respective Principal Property becomes a Principal Property after the Initial Borrowing Date (or such date of acquisition) as a result of the making of capital expenditures or other investments in such Property by the Borrower or the respective Subsidiary or (y) the respective Principal Property is constructed by the Borrower or the respective Subsidiary.

Appears in 2 contracts

Samples: Intercreditor Agreement (Dole Food Co Inc), Credit Agreement (Dole Food Company Inc)

Special Restrictions Relating to Principal Property. The Borrower will notNo Credit Agreement Party will, nor will permit any Subsidiary Guarantor of its Subsidiaries to, (i) own or acquire any Principal Property (other than the Principal Properties designated on Schedule XVII XV hereto) or (ii) directly or indirectly, create, incur, issue, assume, guarantee or otherwise become liable for or suffer to exist any Indebtedness secured by a Lien on any Principal Property; provided however provided, however, that, notwithstanding the foregoing, (x) the U.S. Borrower and its Subsidiaries may acquire (by way of third-party purchase) up to (but not more than) two Principal Properties after the Initial Borrowing Restatement Effective Date and, thereafter, own such Principal Properties and (y) the U.S. Borrower and its Subsidiaries may own additional Principal Properties which are not Principal Properties on the Initial Borrowing Restatement Effective Date (or, if acquired after the Initial Borrowing Restatement Effective Date, on such date of acquisition) if (x) the respective Principal Property becomes a Principal Property after the Initial Borrowing Restatement Effective Date (or such date of acquisition) as a result of the making of capital expenditures or other investments in such Property by the U.S. Borrower or the respective Subsidiary or (y) the respective Principal Property is constructed by the U.S. Borrower or the respective Subsidiary.

Appears in 2 contracts

Samples: Intercreditor Agreement (Dole Food Co Inc), Credit Agreement (Dole Food Company Inc)

Special Restrictions Relating to Principal Property. The U.S. Borrower will not, nor and will not permit any Subsidiary Guarantor of its Subsidiaries to, (i) own or acquire any Principal Property (other than the Principal Properties designated on Schedule XVII XV hereto) or (ii) directly or indirectly, create, incur, issue, assume, guarantee or otherwise become liable for or suffer to exist any Indebtedness secured by a Lien on any Principal Property; provided however provided, however, that, notwithstanding the foregoing, (x) the U.S. Borrower and its Subsidiaries may acquire (by way of third-party purchase) up to (but not more than) two Principal Properties after the Initial Borrowing Amendment No. 3 Effective Date and, thereafter, own such Principal Properties and (y) the U.S. Borrower and its Subsidiaries may own additional Principal Properties which are not Principal Properties on the Initial Borrowing Amendment No. 3 Effective Date (or, if acquired after the Initial Borrowing Amendment No. 3 Effective Date, on such date of acquisition) if (x) the respective Principal Property becomes a Principal Property after the Initial Borrowing Amendment No. 3 Effective Date (or such date of acquisition) as a result of the making of capital expenditures or other investments in such Property by the U.S. Borrower or the respective Subsidiary or (y) the respective Principal Property is constructed by the U.S. Borrower or the respective Subsidiary. The restrictions set forth in this Section 9.11 shall cease to apply following the date that Principal Properties cease to constitute Excluded Collateral.

Appears in 1 contract

Samples: Intercreditor Agreement (Dole Food Co Inc)

AutoNDA by SimpleDocs

Special Restrictions Relating to Principal Property. The Borrower will not, nor and will not permit any Subsidiary Guarantor to, (i) own or acquire any Principal Property (other than the Principal Properties designated in writing to the Administrative Agent on Schedule XVII heretothe Amendment No. 4 Effective Date) or (ii) directly or indirectly, create, incur, issue, assume, guarantee or otherwise become liable for or suffer to exist any Indebtedness secured by a Lien on any Principal Property; provided however that, notwithstanding the foregoing, (x) the Borrower and its Subsidiaries may acquire (by way of third-party purchase) up to (but not more than) two Principal Properties after the Initial Borrowing Amendment No. 4 Effective Date and, thereafter, own such Principal Properties and (y) the Borrower and its Subsidiaries may own additional Principal Properties which are not Principal Properties on the Initial Borrowing Amendment No. 4 Effective Date (or, if acquired after the Initial Borrowing Amendment No. 4 Effective Date, on such date of acquisition) if (x) the respective Principal Property becomes a Principal Property after the Initial Borrowing Amendment No. 4 Effective Date (or such date of acquisition) as a result of the making of capital expenditures or other investments in such Property by the Borrower or the respective Subsidiary or (y) the respective Principal Property is constructed by the Borrower or the respective Subsidiary. The restrictions set forth in this Section 10.12 shall cease to apply following the date that Principal Properties cease to constitute Excluded Property.

Appears in 1 contract

Samples: Credit Agreement (Dole Food Co Inc)

Special Restrictions Relating to Principal Property. The Borrower will not, nor and will not permit any Subsidiary Guarantor to, (i) own or acquire any Principal Property (other than the Principal Properties designated on Schedule XVII hereto) or (ii) directly or indirectly, create, incur, issue, assume, guarantee or otherwise become liable for or suffer to exist any Indebtedness secured by a Lien on any Principal Property; provided however that, notwithstanding the foregoing, (x) the Borrower and its Subsidiaries may acquire (by way of third-party purchase) up to (but not more than) two Principal Properties after the Initial Borrowing Amendment No. 3 Effective Date and, thereafter, own such Principal Properties and (y) the Borrower and its Subsidiaries may own additional Principal Properties which are not Principal Properties on the Initial Borrowing Amendment No. 3 Effective Date (or, if acquired after the Initial Borrowing Amendment No. 3 Effective Date, on such date of acquisition) if (x) the respective Principal Property becomes a Principal Property after the Initial Borrowing Amendment No. 3 Effective Date (or such date of acquisition) as a result of the making of capital expenditures or other investments in such Property by the Borrower or the respective Subsidiary or (y) the respective Principal Property is constructed by the Borrower or the respective Subsidiary. The restrictions set forth in this Section 10.12 shall cease to apply following the date that Principal Properties cease to constitute Excluded Property.

Appears in 1 contract

Samples: Intercreditor Agreement (Dole Food Co Inc)

Special Restrictions Relating to Principal Property. The Borrower will notNo Credit Agreement Party will, nor will permit any Subsidiary Guarantor of its Subsidiaries to, (i) own or acquire any Principal Property (other than the Principal Properties designated on Schedule XVII hereto) or (ii) directly or indirectly, create, incur, issue, assume, guarantee or otherwise become liable for or suffer to exist any Indebtedness secured by a Lien on any Principal Property; provided however that, notwithstanding the foregoing, (x) the U.S. Borrower and its Subsidiaries may acquire (by way of third-party purchase) up to (but not more than) two Principal Properties after the Initial Borrowing Restatement Effective Date and, thereafter, own such Principal Properties and (y) the U.S. Borrower and its Subsidiaries may own additional Principal Properties which are not Principal Properties on the Initial Borrowing Restatement Effective Date (or, if acquired after the Initial Borrowing Restatement Effective Date, on such date of acquisition) if (x) the respective Principal Property becomes a Principal Property after the Initial Borrowing Restatement Effective Date (or such date of acquisition) as a result of the making of capital expenditures or other investments in such Property by the U.S. Borrower or the respective Subsidiary or (y) the respective Principal Property is constructed by the U.S. Borrower or the respective Subsidiary.

Appears in 1 contract

Samples: Security Agreement (Dole Food Company Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.