Common use of Subsidiary Borrowings Clause in Contracts

Subsidiary Borrowings. The Borrower shall not permit any Restricted Subsidiary to become liable for any Indebtedness, whether secured or unsecured, except: (i) such of the foregoing as is owed to the Borrower or another Wholly-Owned Subsidiary; (ii) Indebtedness or obligations secured by Liens permitted by Section 5.16; (iii) Indebtedness or obligations of a Subsidiary outstanding at the time such Subsidiary becomes a Subsidiary, provided that (a) such Indebtedness shall not have been incurred in contemplation of such Subsidiary becoming a Subsidiary, and (b) immediately after such Subsidiary becomes a Subsidiary, no Default or Event of Default shall exist, and provided, further, that such Indebtedness may not be extended, renewed, or refunded except as otherwise permitted by this Agreement; and (iv) other Indebtedness which, when combined with the total of the Indebtedness secured by all Liens permitted by Section 5.16(q), without duplication, does not exceed 20% of Consolidated Net Worth as of the last day of the immediately preceding Fiscal Quarter.

Subsidiary Borrowings. The Borrower Flowers shall not permit any Restricted Subsidiary to become liable for any Indebtedness, whether secured or unsecured, except: (i) such of the foregoing as is owed to the Borrower Flowers or another Wholly-Owned Subsidiary; (ii) Indebtedness or obligations secured by Liens permitted by Section 5.168.16; (iii) Indebtedness or obligations of a Subsidiary outstanding at the time such Subsidiary becomes a Subsidiary, provided that (a) such Indebtedness shall not have been incurred in contemplation of such Subsidiary becoming a Subsidiary, and (b) immediately after such Subsidiary becomes a Subsidiary, no Default or Event of Default shall exist, and provided, further, that such Indebtedness may not be extended, renewed, or refunded except as otherwise permitted by this Agreement; and (iv) subject to the provisions of Section 8.25, other Indebtedness which, when combined with the total of the Indebtedness secured by all Liens permitted by Section 5.16(q8.16(r), without duplication, does not exceed 20% of Adjusted Consolidated Net Worth as of the last day of the immediately preceding Fiscal Quarter.

Subsidiary Borrowings. The Borrower Flowers shall not permit any Restricted Subsidiary to become liable for any Indebtedness, whether secured or unsecured, except: (i) such of the foregoing as is owed to the Borrower Flowers or another Wholly-Owned Subsidiary; (ii) Indebtedness or obligations secured by Liens permitted by Section 5.168.16; (iii) Indebtedness or obligations of a Subsidiary outstanding at the time such Subsidiary becomes a Subsidiary, provided that (a) such Indebtedness shall not have been incurred in contemplation of such Subsidiary becoming a Subsidiary, and (b) immediately after such Subsidiary becomes a Subsidiary, no Default or Event of Default shall exist, and provided, further, that such Indebtedness may not be extended, renewed, or refunded except as otherwise permitted by this Agreement; and (iv) other Indebtedness which, when combined with the total of the Indebtedness secured by all Liens permitted by Section 5.16(q8.16(r), without duplication, does not exceed 20% of Adjusted Consolidated Net Worth as of the last day of the immediately preceding Fiscal Quarter.

Subsidiary Borrowings. The Borrower shall not permit any Restricted Subsidiary to become liable for any Indebtedness, whether secured or unsecured, except: (i) such of the foregoing as is owed to the Borrower or another Wholly-Owned Subsidiary; (ii) Indebtedness or obligations secured by Liens permitted by Section 5.16; (iii) Indebtedness or obligations of a Subsidiary outstanding at the time such Subsidiary becomes a Subsidiary, provided that (a) such Indebtedness shall not have been incurred in contemplation of such Subsidiary becoming a Subsidiary, and (b) immediately after such Subsidiary becomes a Subsidiary, no Default or Event of Default shall exist, and provided, further, that such Indebtedness may not be extended, renewed, or refunded except as otherwise permitted by this Agreement; and (iv) subject to the provisions of Section 5.24 (and, if applicable, Sections 2.09(b) and 2.11), other Indebtedness which, when combined with the total of the Indebtedness secured by all Liens permitted by Section 5.16(q5.16(p), without duplication, does not exceed 20% of Adjusted Consolidated Net Worth as of the last day of the immediately preceding Fiscal Quarter.