Common use of Subsidiary Borrowings Clause in Contracts

Subsidiary Borrowings. No Group Company (other than the Company), will incur or have outstanding any Borrowings other than: (a) any Borrowings, provided that the Total Commitments are cancelled in an amount (net of taxes, fees, costs and expenses) equal to the principal amount of such Borrowings promptly upon their incurrence and Advances thereupon are prepaid to the extent that the Total Outstandings would otherwise exceed the Total Commitments as reduced thereby); (b) Borrowings which constitute a Project Borrowing; (c) Borrowings created with the prior written consent of the Majority Lenders; (d) Borrowings owed by an Additional Guarantor; (e) Borrowings under this Agreement; (f) Borrowings owed to another Group Company; (g) Borrowings of any Subsidiary of the Company which operates only as a finance company for the Group to the extent that the proceeds of such Borrowings are on-lent to a Guarantor; (h) Cash-backed Borrowings; (i) Borrowings under cash pooling arrangements in the Group’s ordinary banking arrangements, to the extent matched by cash balances held by members of the Group which are treated as available for netting against those Borrowings; (j) for a period of 12 months after the date on which a Subsidiary becomes a Group Company, Borrowings of that Subsidiary to the extent that such Borrowings are outstanding at the time that Subsidiary becomes a Group Company and were not created in contemplation of that Subsidiary becoming a Group Company; (k) Borrowings owed by SNT Group NV (or any of its Subsidiaries); or (l) any other Borrowings, provided that the aggregate principal amount of any such Borrowings which are unsecured, when taken together with the aggregate outstanding principal amount of Borrowings secured by Security created by Obligors pursuant to Clause 21.4(b) (xii) (Negative Pledge), does not exceed euro 2,600,000,000 (or its equivalent in other currencies) at any time.

Subsidiary Borrowings. No Group Company (other than Each Obligor shall procure that, from the Company)date falling six months after the first Utilisation Date, will incur or have outstanding any Borrowings other than: (a) any BorrowingsSubsidiary which is not a Guarantor, provided that the Total Commitments are cancelled in an amount (net of taxes, fees, costs save for EE and expenses) equal to the principal amount of such Borrowings promptly upon their incurrence and Advances thereupon are prepaid to the extent that the Total Outstandings would otherwise exceed the Total Commitments as reduced thereby); (b) Borrowings which constitute a Project Borrowing; (c) Borrowings created with the prior written consent of the Majority Lenders; (d) Borrowings owed by an Additional Guarantor; (e) Borrowings under this Agreement; (f) Borrowings owed to another Group Company; (g) Borrowings of any Subsidiary of the Company which operates only as a finance company for the Group EE from time to the extent that the proceeds of such time, shall not incur any Borrowings are on-lent to a Guarantor; (h) Cash-backed Borrowings;save for: (i) Borrowings under cash pooling arrangements in the Group’s ordinary banking arrangements, to the extent matched incurred by cash balances held by members any Subsidiary of PA which becomes a Project Finance Subsidiary within 6 months of the Group date upon which are treated as available for netting against those Borrowingssuch Borrowings were incurred; (jii) for obligations specified in the Borrowings List or incurred and applied to refinance any such obligations; (iii) Borrowings referred to in paragraph (e) of the definition thereof; (iv) Borrowings owed by one member of the PA Group to another member of the PA Group; (v) Borrowings owed by any person (other than a period person which is a member of 12 months the TEG Group at the Unconditional Date) when it becomes a member of the Services Group after the date on which a Subsidiary becomes a Group CompanyUnconditional Date, Borrowings of that Subsidiary to the extent that but only if: (A) such Borrowings are outstanding at the time that Subsidiary becomes a Group Company and were not created in contemplation of that Subsidiary person becoming a Group Companymember of the Services Group; and (B) the maximum principal amount of such Borrowings is not subsequently increased unless otherwise permitted pursuant to any other provision of this Clause 21.4; (kvi) Borrowings owed by SNT or incurred under overdraft arrangements available to the Services Group NV or any member thereof (provided they are available to the Obligor) as at the Unconditional Date but only if the maximum available principal amount of such Borrowings is not subsequently increased unless otherwise permitted pursuant to any other provision of this Clause 21.4; (vii) Borrowings owed or incurred under facilities available to Peabody Resources Limited or any of its Subsidiaries); orSubsidiaries as at the Unconditional Date but only if the maximum available principal amount of such Borrowings is not subsequently increased unless otherwise permitted pursuant to any other provision of this Clause 21.4; (lviii) any other Borrowings, provided that the Borrowings not otherwise permitted pursuant to paragraphs (i) to (vii) (inclusive) above in aggregate principal amount of not exceeding at any such Borrowings which are unsecured, when taken together with the aggregate outstanding principal time an amount of Borrowings secured by Security created by Obligors pursuant equal to Clause 21.4(b) (xii) (Negative Pledge), does not exceed euro 2,600,000,000 L50,000,000 (or its equivalent in other currencies) at any time.less the amount of Borrowings from time to time taking the benefit of Clause 21.4(a)(viii),

Subsidiary Borrowings. No Save as otherwise permitted by the terms of this Agreement, no Group Company (other than the Company), will incur or have outstanding any Borrowings other than: (a) Borrowings of any member of the E-Plus Group which are not directly or indirectly the subject of a guarantee from any Group Company, except: (i) upstream guarantees given by wholly owned Subsidiaries of E-Plus (or by E-Plus Service GmbH); or (ii) Security over (1) the shares or other rights of ownership in any member of the E-Plus Group thereof; or (2) Borrowings of any member of the E-Plus Group; (b) any Borrowings, provided that the Total Commitments are cancelled in an amount (net of taxes, fees, costs and expenses) equal to the principal amount of such Borrowings Borrowing is promptly upon their incurrence applied in or towards cancellation of the Facility (and in or towards prepayment of Advances thereupon are prepaid to the extent that the Total Outstandings would otherwise exceed the Total Commitments as reduced therebyCommitments); (bc) Borrowings (other than by any member of the KPN Telecom Group) which constitute a Project BorrowingBorrowing provided that the aggregate principal amount of Project Borrowings shall not exceed euro 300,000,000 at any time; (cd) Borrowings created with the prior written consent of the Majority Lenders; (d) Borrowings owed by an Additional Guarantor; (e) Borrowings under this Agreement; (f) Borrowings owed by any Group Company (other than any member of the KPN Telecom Group) pursuant to another Group Companyany Securitisation Transaction provided that the aggregate principal amount of such Borrowings does not, when aggregated with the amount of Borrowings incurred under paragraph (g)(2) below, exceed euro 500,000,000 (or its equivalent in other currencies) at any time; (g) Borrowings by any member of the KPN Telecom Group either: (1) in existence as at the date of this Agreement (other than any Securitisation Transaction); (2) pursuant to any Securitisation Transaction provided that the aggregate principal amount of such Borrowings does not, when aggregated with the amount of Borrowings incurred under paragraph (f) above, exceed euro 500,000,000 (or its equivalent in other currencies) at any time; or (3) from the Company; (h) Subject to Clause 21.12 (Loans and Guarantees) Borrowings owed to another Group Company (other than Borrowings owed by a member of the KPN Telecom Group to any Subsidiary of the Company which operates only as is not a finance company for member of the Group to the extent that the proceeds of such Borrowings are on-lent to a GuarantorKPN Telecom Group); (hi) Cash-backed Borrowings; (ij) Borrowings under cash pooling arrangements in the Group’s 's ordinary banking arrangements, to the extent matched by cash balances held by members of the Group which are treated as available for netting against those Borrowings; (j) for a period of 12 months after the date on which a Subsidiary becomes a Group Company, Borrowings of that Subsidiary to the extent that such Borrowings are outstanding at the time that Subsidiary becomes a Group Company and were not created in contemplation of that Subsidiary becoming a Group Company;; and (k) Borrowings owed by SNT Group NV (or any of its Subsidiaries); or (l) any other Borrowings, by any Group Company (other than by any member of the KPN Telecom Group) provided that the aggregate principal amount of any such Borrowings which are unsecured, when taken together with the aggregate outstanding principal amount of Borrowings secured by Security created by Obligors pursuant to Clause 21.4(b) (xii) (Negative Pledge), does not exceed euro 2,600,000,000 300,000,000 (or its equivalent in other currencies) at any time.

Subsidiary Borrowings. No Group Company (other than the Company), will incur or have outstanding any Borrowings other than: (a) any Borrowings, provided that the Total Commitments are cancelled in an amount (net of taxes, fees, costs and expenses) equal to the principal amount of such Borrowings promptly upon their incurrence and Advances thereupon are prepaid to the extent that the Total Outstandings would otherwise exceed the Total Commitments as reduced thereby); (b) Borrowings which constitute a Project Borrowing; (c) Borrowings created with the prior written consent of the Majority Lenders; (d) Borrowings owed by an Additional Guarantor; (e) Borrowings under this Agreement; (f) Borrowings owed to another Group Company; (g) Borrowings of any Subsidiary of the Company which operates only as a finance company for the Group to the extent that the proceeds of such Borrowings are on-lent to a Guarantor; (h) Cash-backed Borrowings; (i) Borrowings under cash pooling arrangements in the Group’s ordinary banking arrangements, to the extent matched by cash balances held by members of the Group which are treated as available for netting against those Borrowings; (j) for a period of 12 months after the date on which a Subsidiary becomes a Group Company, Borrowings of that Subsidiary to the extent that such Borrowings are outstanding at the time that Subsidiary becomes a Group Company and were not created in contemplation of that Subsidiary becoming a Group Company; (k) Borrowings owed by SNT Group NV (or any of its Subsidiaries); or (l1) any other Borrowings, provided that the aggregate principal amount of any such Borrowings which are unsecured, when taken together with the aggregate outstanding principal amount of Borrowings secured by Security created by Obligors pursuant to Clause 21.4(b) (xii) (Negative Pledgepledge), does not exceed euro 2,600,000,000 (or its equivalent in other currencies) at any time.. Table of Contents