Subsidiary Debt. Permit any of its Subsidiaries to create or suffer to exist, any Debt other than: (i) Debt owed to the Company or to a wholly owned Subsidiary of the Company or under this Agreement or the Notes, (ii) Debt existing on, or available under lines of credit existing on, the Effective Date and described on Schedule 5.02(d) hereto (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the principal amount of, or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing, (iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all of the Company’s Subsidiaries not more than $25,000,000 at any one time outstanding, (iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 at any one time outstanding, (v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 at any one time outstanding, (vi) Debt, if any, arising in connection with receivables securitization programs in an aggregate principal amount not to exceed $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program shall mean the Invested Amount), (vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements entered into in the ordinary course of business to protect the Company and its Subsidiaries against fluctuations in interest or exchange rates, (viii) obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit, (ix) obligations which in aggregate do not exceed $150,000,000 arising in connection with the administration and operation of cash management services for the Company and any of its Subsidiaries, including cash pooling arrangements and overdraft facilities, (x) Debt of a Person at the time such Person is merged into or consolidated with any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Debt was not created in contemplation of such merger, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, such Debt, provided further that the principal amount of such Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed (other than as a result of merger or consolidation), as a result of or in connection with such extension, refunding or refinancing, (xi) Debt, if any, arising in connection with the sales of accounts receivable, including pursuant to factoring programs, whether or not the Company or any of its Subsidiaries remain as servicer; and (xii) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business.
Appears in 2 contracts
Samples: Five Year Credit Agreement (Jabil Circuit Inc), Five Year Credit Agreement (Jabil Circuit Inc)
Subsidiary Debt. Permit any of its Subsidiaries that are not Subsidiary Guarantors to create or suffer to exist, any Debt other than:
(i) Debt owed to the Company or to a wholly owned Wholly-Owned Subsidiary of the Company or Debt arising under this Agreement or the NotesLoan Documents,
(ii) Debt existing on, or available under lines of credit existing on, on the Effective Date and described on Schedule 5.02(d) hereto (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the principal amount of, or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing,
(iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all of the Company’s Subsidiaries not more than $25,000,000 at any one time outstandingor (iv),
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 at any one time outstanding,
(vi) Debt, if any, arising in connection with receivables securitization programs in an aggregate principal amount not to exceed $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program shall mean the Invested Amountextent permitted by Section 5.02(a)(v),
(vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements entered into in the ordinary course of business to protect the Company and its Subsidiaries against fluctuations in interest or exchange rates,
(viii) obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed $150,000,000 arising in connection with the administration and operation of cash management services for the Company and any of its Subsidiaries, including cash pooling arrangements and overdraft facilities,
(xv) Debt of a Person existing at the time such Person is merged into or consolidated with the Company or any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Debt was not created in contemplation of such merger, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, such Debt, provided further that the principal amount of such Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed (other than as a result of merger or consolidation), as a result of or in connection with such extension, refunding or refinancing,
(xivi) DebtDebt consisting of guarantees of Debt which is otherwise permitted by this Section 5.02(d),
(vii) Hedge Agreements permitted under Section 5.02(k) having an aggregate unrealized net loss position, if any, arising in connection with on a marked to market basis determined as of any date of determination of Covenant Debt not to exceed $10,000,000,
(viii) other Debt (whether secured or unsecured) to the sales of accounts receivableextent such Debt would be permitted to be secured under Section 5.02(a)(vi), including pursuant to factoring programs, whether or not the Company or any of its Subsidiaries remain as servicer; and
(xiiix) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business.
Appears in 2 contracts
Samples: Credit Agreement (Chemtura CORP), Credit Agreement (Chemtura CORP)
Subsidiary Debt. Permit any of its Subsidiaries to create or suffer to exist, any Debt other than:
(i) Debt owed to the Company or to a wholly owned Subsidiary of the Company or under this Agreement or the Notes,
(ii) Debt existing on, or available under lines of credit existing on, the Effective Date and described on Schedule 5.02(d) hereto (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the principal amount of, or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing,
(iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all of the Company’s Subsidiaries not more than the Dollar Equivalent of $25,000,000 at any one time outstanding,
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed the Dollar Equivalent of $100,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than the Dollar Equivalent of $400,000,000 600,000,000 at any one time outstanding,
(vi) Debt, if any, arising in connection with receivables securitization programs Securitization Programs in an aggregate principal amount not to exceed the Dollar Equivalent of $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program Securitization Program shall mean the Invested Amount),, Jabil Credit Agreement 42
(vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements entered into in the ordinary course of business to protect the Company and its Subsidiaries against fluctuations in interest or exchange rates,
(viii) obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed the Dollar Equivalent of $150,000,000 arising in connection with the administration and operation of cash management services for the Company and any of its Subsidiaries, including cash pooling arrangements and overdraft facilities,
(x) Debt of a Person at the time such Person is merged into or consolidated with any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Debt was not created in contemplation of such merger, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, such Debt, provided further that the principal amount of such Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed (other than as a result of merger or consolidation), as a result of or in connection with such extension, refunding or refinancing,,
(xi) Debt, if any, arising in connection with the sales of accounts receivablereceivable and related assets, including pursuant to factoring programs, whether or not the Company or any of its Subsidiaries remain as servicer;
(xii) (i) Debt under Capital Leases (other than pursuant to sale-leaseback transactions) or Synthetic Leases to finance the acquisition, construction, development or improvement by such Person of real property, fixtures, inventory or equipment or other tangible assets, provided, that, in each case (A) such Debt is incurred by such Person at the time of, or not later than 120 days after, the acquisition, construction, development or improvement by such Person of the property so financed and (B) such Debt does not exceed the purchase price of the property (or the cost of constructing, developing or improving the same) so financed, and (ii) Debt under initial or successive refinancings (which shall include any amendments, modifications, renewals, refundings or replacements) of any such Capital Leases or Synthetic Leases, provided, that, the principal amount of any such refinancing does not exceed the principal amount of the Debt being refinanced (except to the extent necessary to pay fees, expenses, underwriting discounts and prepayment penalties in connection therewith); and
(xiixiii) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business.
Appears in 1 contract
Subsidiary Debt. Permit any of its Subsidiaries to create or suffer to exist, any Debt other than:
(i) Debt owed to the Company or to a wholly owned Subsidiary of the Company or under this Agreement or the Notes,
(ii) Debt existing on, or available under lines of credit existing on, the Effective Date and described on Schedule 5.02(d) hereto (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the principal amount of, or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing,
(iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all of the Company’s Subsidiaries not more than $25,000,000 at any one time outstanding,
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 600,000,000 at any one time outstanding,
(vi) Debt, if any, arising in connection with receivables securitization programs Securitization Programs in an aggregate principal amount not to exceed $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program Securitization Program shall mean the Invested Amount),
(vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements entered into in the ordinary course of business to protect the Company and its Subsidiaries against fluctuations in interest or exchange rates,
(viii) obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed $150,000,000 arising in connection with the administration and operation of cash management services for the Company and any of its Subsidiaries, including cash pooling arrangements and overdraft facilities,
(x) Debt of a Person at the time such Person is merged into or consolidated with any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Debt was not created in contemplation of such merger, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, such Debt, provided further that the principal amount of such Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed (other than as a result of merger or consolidation), as a result of or in connection with such extension, refunding or refinancing,,
(xi) Debt, if any, arising in connection with the sales of accounts receivablereceivable and related assets, including pursuant to factoring programs, whether or not the Company or any of its Subsidiaries remain as servicer;
(xii) (i) Debt under Capital Leases (other than pursuant to sale-leaseback transactions) or Synthetic Leases to finance the acquisition, construction, development or improvement by such Person of real property, fixtures, inventory or equipment or other tangible assets, provided, that, in each case (A) such Debt is incurred by such Person at the time of, or not later than 120 days after, the acquisition, construction, development or improvement by such Person of the property so financed and (B) such Debt does not exceed the purchase price of the property (or the cost of constructing, developing or improving the same) so financed, and (ii) Debt under initial or successive refinancings (which shall include any amendments, modifications, renewals, refundings or replacements) of any such Capital Leases or Synthetic Leases, provided, that, the principal amount of any such refinancing does not exceed the principal amount of the Debt being refinanced (except to the extent necessary to pay fees, expenses, underwriting discounts and prepayment penalties in connection therewith); and
(xiixiii) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business.
Appears in 1 contract
Samples: Credit Agreement (Jabil Inc)
Subsidiary Debt. Permit any of its Subsidiaries to create or suffer to exist, any Debt other than:
(i) Debt owed to the Company or to a wholly owned Subsidiary of the Company or under this Agreement or the Notes,
(ii) Debt existing on, or available under lines of credit existing on, on the Effective Date and described on Schedule 5.02(d) hereto (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the principal amount of, or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing,
(iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all of the Company’s Subsidiaries not more than $25,000,000 at any one time outstanding,
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 350,000,000 at any one time outstanding,
(vi) Debt, if any, arising in connection with receivables securitization programs in an aggregate principal amount not to exceed $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program shall mean the Invested Amount),
(vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements entered into in the ordinary course of business to protect the Company and its Subsidiaries against fluctuations in interest or exchange rates,
(viii) contingent obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed $150,000,000 100,000,000 arising in connection with the administration and operation of cash management services for deposit accounts of the Company and any of its SubsidiariesSubsidiaries organized under the laws of any country other than the United States of America or a State thereof in connection with cross-border or intracountry, multiple currency cash pooling arrangements, including cash pooling arrangements and overdraft facilities,
(x) Debt of a Person at the time such Person is merged into or consolidated with any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Debt was not created in contemplation of such merger, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, such Debt, provided further that the principal amount of such Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed (other than as a result of merger or consolidation), as a result of or in connection with such extension, refunding or refinancing,, Jabil Credit Agreement
(xi) Debt, if any, arising in connection with the sales of accounts receivable, including pursuant to factoring programs, whether or not the Company or any of its Subsidiaries remain as servicer; and
(xii) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business.
Appears in 1 contract
Subsidiary Debt. Permit any of its Subsidiaries to create or suffer to exist, any Debt other than:
(i) Debt owed to the Company or to a wholly owned Subsidiary of the Company or under this Agreement or the Notes,
(ii) Debt existing on, or available under lines of credit existing on, the Effective Date and described on Schedule 5.02(d) hereto (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the principal amount of, or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing,
(iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all of the Company’s Subsidiaries not more than $25,000,000 at any one time outstanding,
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 at any one time outstanding,
(vi) Debt, if any, arising in connection with receivables securitization programs in an aggregate principal amount not to exceed $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program shall mean the Invested Amount),
(vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements entered into in the ordinary course of business to protect the Company and its Subsidiaries against fluctuations in interest or exchange rates,
(viii) obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed $150,000,000 100,000,000 arising in connection with the administration and operation of cash management services for deposit accounts of the Company and any of its SubsidiariesSubsidiaries organized under the laws of any country other than the United States of America or a State thereof in connection with cross-border or intracountry, multiple currency cash pooling arrangements, including cash pooling arrangements and overdraft facilities,
(x) Debt of a Person at the time such Person is merged into or consolidated with any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Debt was not created in contemplation of such merger, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, such Debt, provided further that the principal amount of such Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed (other than as a result of merger or consolidation), as a result of or in connection with such extension, refunding or refinancing,
(xi) Debt, if any, arising in connection with the sales of accounts receivable, including pursuant to factoring programs, whether or not the Company or any of its Subsidiaries remain as servicer; and
(xii) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business.
Appears in 1 contract
Subsidiary Debt. Permit any of its Subsidiaries to create or suffer to exist, any Debt other than:
(i) Debt owed to the Company Borrower or to a wholly owned Subsidiary of the Company Borrower or under this Agreement or the Notes,
(ii) Debt existing on, or available under lines of credit existing on, on the Effective Date and described on Schedule 5.02(d) hereto (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the principal amount of, or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing,
(iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company Borrower and all of the CompanyBorrower’s Subsidiaries not more than $25,000,000 at any one time outstanding,
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 75,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company Borrower organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 275,000,000 at any one time outstanding,
(vi) Debt, if any, Debt arising in connection with receivables securitization programs programs, in an aggregate principal amount not to exceed $750,000,000 650,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program shall mean the Invested Amount),
(vii) obligations of any Subsidiary of the Company Borrower organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements entered into in the ordinary course of business to protect the Company Borrower and its Subsidiaries against fluctuations in interest or exchange rates,
(viii) contingent obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed $150,000,000 50,000,000 arising in connection with the administration and operation of cash management services for deposit accounts of the Company Borrower and any of its SubsidiariesSubsidiaries organized under the laws of any country other than the United States of America or a State thereof in connection with cross-border, multiple currency cash pooling arrangements, including cash pooling arrangements and overdraft facilities,
(x) Debt of a Person at the time such Person is merged into or consolidated with any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Debt was not created in contemplation of such merger, consolidation or acquisition, and ,
(xi) any Debt extending the maturity of, or refunding or refinancing, in whole or in part, such Debtthe Existing Debt and Debt permitted under clause (x) above, provided further that the principal amount of such Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed (other than as a result of merger or consolidation)changed, as a result of or in connection with such extension, refunding or refinancing,
(xi) Debt, if any, arising in connection with the sales of accounts receivable, including pursuant to factoring programs, whether or not the Company or any of its Subsidiaries remain as servicer; and
(xii) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business.
Appears in 1 contract
Subsidiary Debt. Permit any of its Subsidiaries to create or suffer to exist, any Debt other than:
(i) Debt owed to the Company or to a wholly owned Subsidiary of the Company or Debt owed under this Agreement or the NotesAgreement,
(ii) Debt existing on, or available under lines of credit existing on, on the Effective Closing Date and that is described on Schedule 5.02(d) hereto or the principal or face amount of which does not exceed $10,000,000 individually or $25,000,000 in the aggregate (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the principal amount of, or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing,
(iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all of the Company’s Subsidiaries not more than $25,000,000 at any one time outstanding,
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 500,000,000 at any one time outstanding,
(iv) guarantees of Debt of the Company or any other Subsidiary of the Company,
(v) guarantees of Debt of any Person (other than the Company or any of its Subsidiaries), provided that the aggregate principal amount of such Debt shall not exceed $25,000,000 at any one time outstanding,
(vi) Debt, if any, arising in connection with receivables securitization programs in an aggregate principal amount not to exceed $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program shall mean the Invested Amount),
(vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements entered into in the ordinary course of business to protect the Company and its Subsidiaries against fluctuations in interest or exchange rates,;
(viii) obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed $150,000,000 arising in connection with the administration and operation of cash management services for the Company and any of its Subsidiaries, including cash pooling arrangements and overdraft facilities,
(x) Debt of a Person at the time such Person is merged into or consolidated with any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Debt was not created in contemplation of such merger, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, such Debt, provided further that the principal amount of such Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed (other than as a result of merger or consolidation), as a result of or in connection with such extension, refunding or refinancing,
(xi) Debt, if any, arising in connection with the sales of accounts receivable, including pursuant to factoring programs, whether or not the Company or any of its Subsidiaries remain as servicer; and
(xiivii) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business,
(viii) Debt related to investments in operations located in the Peoples’ Republic of China in an amount not to exceed $1,000,000,000 at any one time outstanding; and
(ix) other Debt aggregating for all of the Company’s Subsidiaries, together with Debt secured by Liens permitted under Section 5.02(a)(x), an amount not to exceed $150,000,000 at any one time outstanding.
Appears in 1 contract
Samples: Credit Agreement (Corning Inc /Ny)
Subsidiary Debt. Permit any of its Subsidiaries to create or suffer to exist, any Debt other than:
(i) Debt owed to the Company Parent Guarantor or to a wholly owned Subsidiary of Parent Guarantor or Debt owed under the Company or under this Agreement Operative Documents or the NotesBank Credit Agreement,
(ii) Debt existing on, or available under lines of credit existing on, on the Effective Date and date that is described on Schedule 5.02(d9(c) hereto to this Guaranty or the principal or face amount of which does not exceed $10,000,000 individually or $25,000,000 in the aggregate (the “Existing Debt”), and any Debt extending the maturity of, or refunding refunding, refinancing, modifying or refinancingamending, in whole or in part, the Existing Debt, provided that the principal amount of, or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing,
(iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all of the Company’s Subsidiaries not more than $25,000,000 at any one time outstanding,
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 at any one time outstanding,
(vi) Debt, if any, arising in connection with receivables securitization programs in an aggregate principal amount not to exceed $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program shall mean the Invested Amount),
(vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements entered into in the ordinary course of business to protect the Company and its Subsidiaries against fluctuations in interest or exchange rates,
(viii) obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed $150,000,000 arising in connection with the administration and operation of cash management services for the Company and any of its Subsidiaries, including cash pooling arrangements and overdraft facilities,
(x) Debt of a Person at the time such Person is merged into or consolidated with any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Debt was not created in contemplation of such merger, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, such Debt, provided further that the principal amount of such Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed (other than as a result of merger or consolidation), as a result of or in connection with such extension, refunding or refinancing,
(xiiii) Debt, if any, arising in connection with the sales guarantees of accounts receivable, including pursuant to factoring programs, whether or not the Company Debt of Parent Guarantor or any other Subsidiary of its Subsidiaries remain as servicer; andParent Guarantor,
(xiiiv) obligations of any Subsidiary of Parent Guarantor under any Hedge Agreements entered into in the ordinary course of business and not for speculative purposes;
(v) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business., and
(vi) other Debt (including guarantees of any Person other than Parent Guarantor or any of its Subsidiaries) aggregating for all of Parent Guarantor’s Subsidiaries, together with Debt secured by Liens permitted under Section 9(a)(ix), an amount not to exceed, at any one time outstanding, the greater of (i) $2,500,000,000 and (ii) 15% of Consolidated Net Tangible Assets. Table of Contents Corning Incorporated Guaranty
Appears in 1 contract
Samples: Guaranty (Corning Inc /Ny)
Subsidiary Debt. Permit its Subsidiaries, other than (1) the Borrower and (2) any Finance Subsidiary (subject to the last sentence of its Subsidiaries this subsection (g)), collectively to create or suffer incur Adjusted Debt attributable to exist, any Debt other than:
(i) Debt owed such Subsidiaries if immediately after giving effect to the Company such creation or to a wholly owned Subsidiary of the Company or under this Agreement or the Notes,
(ii) Debt existing on, or available under lines of credit existing onincurrence, the Effective Date and described on Schedule 5.02(d) hereto (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the aggregate principal amount of, of Adjusted Debt attributable to such Subsidiaries would exceed the greater of (A) $500,000,000 and (B) thirty percent (30%) of EBITDA for the four consecutive fiscal quarters ended on or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extensiontime; provided, refunding or refinancinghowever, and that the direct and contingent obligors therefor foregoing restriction shall not apply to any (i) Adjusted Debt attributable to a Subsidiary (including any Person that will be changedor become a Subsidiary) of the Parent (including any refinancings, as a result amendments or extensions of such Adjusted Debt that do not increase, or provide for the increase of, the aggregate principal amount of such Adjusted Debt) that is assumed in connection with such extension(but not established in contemplation of) (A) a transaction that is permitted pursuant to Section 5.02(b) or (B) the purchase or acquisition of all of the capital stock of, refunding or refinancing,
all or substantially all of the assets of, another Person, (ii) Subsidiary Non-Recourse Debt, (iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all letters of the Company’s Subsidiaries not more than $25,000,000 at any one time outstanding,
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 at any one time outstanding,
(vi) Debt, if any, arising in connection with receivables securitization programs in an aggregate principal amount not to exceed $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program shall mean the Invested Amount),
(vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements credit entered into pursuant to and in accordance with regulatory requirements in the ordinary course of business such Subsidiary's unit investment trust business, (iv) Permitted Unit Investment Trust Debt to protect the Company extent that (A) any such Debt is not outstanding for longer than 5 consecutive Business Days, and its Subsidiaries against fluctuations (B) so long as such Debt is outstanding, it is supported by readily marketable securities that are in an amount sufficient to repay such Debt and accrued interest thereon and fees associated therewith and that are held in trust or exchange rates,
(viii) obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed $150,000,000 arising in connection with the administration and operation of cash management services otherwise set aside for the Company repayment of such Permitted Unit Investment Trust Debt, or if there is an insufficiency in such amount, the amount of such insufficiency shall be otherwise permitted under this Section 5.02(g), and (v) guarantee by a Subsidiary of any Debt qualifying under clauses (i) through (iv) of its Subsidiariesthis Section 5.02(g). For the avoidance of doubt, including cash pooling arrangements and overdraft facilities,
“Adjusted Debt” shall exclude (x) Debt of any Subsidiary owing to the Parent or any other Subsidiary and (y) Debt of the Parent owing to any Subsidiary. With respect to any Non-Loan Party Xxxxx, such Non-Loan Party Xxxxx shall only be excluded from the foregoing restrictions so long as such Non-Loan Party Xxxxx remains a Person at Finance Subsidiary; provided that, in the time such Person is merged into event a Non-Loan Party Xxxxx shall make any loan or consolidated with other advance (a “Xxxxx Loan”) to any Subsidiary of the Company or becomes Parent that is not a Subsidiary of the Company; provided that Loan Party (such Debt was not created in contemplation of such mergerSubsidiary, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in parta “Xxxxx Loan Recipient”), such DebtXxxxx Loan shall be subject to an intercreditor agreement among all Xxxxx Loan Recipients effectively providing for pari passu treatment with respect to the Obligations and the Debt of each Non-Loan Party Xxxxx, provided further such intercreditor agreement to be in form and substance reasonably satisfactory to the Administrative Agent. So long as doing so would not result in a Non-Loan Party Xxxxx ceasing to be or qualify as a Finance Subsidiary, each Non-Loan Party Xxxxx that the principal amount of such Debt makes a Xxxxx Loan to a Xxxxx Loan Recipient shall not be increased above the principal amount thereof outstanding immediately prior provide an acknowledgment and consent to such extension, refunding intercreditor agreement (and in the event such acknowledgment and consent would result in a Non-Loan Party Xxxxx ceasing to be or refinancing, and the direct and contingent obligors therefor shall not be changed (other than qualify as a result of merger or consolidation)Finance Subsidiary, as a result of or in connection with the Parent shall instead 91839933_4 provide an acknowledgment and consent to such extension, refunding or refinancing,
(xi) Debt, if any, arising in connection with the sales of accounts receivable, including pursuant to factoring programs, whether or not the Company or any intercreditor agreement for itself and on behalf of its Subsidiaries remain as servicer; and
(xii) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of businessSubsidiaries).
Appears in 1 contract
Samples: Credit Agreement (Invesco Ltd.)
Subsidiary Debt. Permit any of its Subsidiaries to create or suffer to exist, any Debt other than:
(i) Debt owed to the Company or to a wholly owned Subsidiary of the Company or under this Agreement or the Notes,
(ii) Debt existing on, or available under lines of credit existing on, on the Effective Date and described on Schedule 5.02(d) hereto (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the principal amount of, or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing,
(iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all of the Company’s Subsidiaries not more than $25,000,000 at any one time outstanding,
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 350,000,000 at any one time outstanding,
(vi) Debt, if any, arising in connection with receivables securitization programs or factoring programs, in an aggregate principal amount not to exceed $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program shall mean the Invested Amount and the “principal amount” of a factoring program shall mean the Factored Amount),
(vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements entered into in the ordinary course of business to protect the Company and its Subsidiaries against fluctuations in interest or exchange rates,
(viii) contingent obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed $150,000,000 100,000,000 arising in connection with the administration and operation of cash management services for deposit accounts of the Company and any of its SubsidiariesSubsidiaries organized under the laws of any country other than the United States of America or a State thereof in connection with cross-border or intracountry, multiple currency cash pooling arrangements, including cash pooling arrangements and overdraft facilities,
(x) Debt of a Person at the time such Person is merged into or consolidated with any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Debt was not created in contemplation of such merger, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, such Debt, provided further that the principal amount of such Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed (other than as a result of merger or consolidation)changed, as a result of or in connection with such extension, refunding or refinancing,
(xi) Debt, if any, arising in connection with the sales of accounts receivable, including pursuant to a factoring programs, whether or not the Company or any of its Subsidiaries remain as servicerprogram described in Section 5.02(e)(iii); and
(xii) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business.
Appears in 1 contract
Subsidiary Debt. Permit its Subsidiaries, other than (1) the Borrower and (2) any Finance Subsidiary (subject to the last sentence of its Subsidiaries this subsection (g)), collectively to create or suffer incur Adjusted Debt attributable to exist, any Debt other than:
(i) Debt owed such Subsidiaries if immediately after giving effect to the Company such creation or to a wholly owned Subsidiary of the Company or under this Agreement or the Notes,
(ii) Debt existing on, or available under lines of credit existing onincurrence, the Effective Date and described on Schedule 5.02(d) hereto (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the aggregate principal amount of, of Adjusted Debt attributable to such Subsidiaries would exceed the greater of (A) $500,000,000 and (B) thirty percent (30%) of EBITDA for the four consecutive fiscal quarters ended on or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extensiontime; provided, refunding or refinancinghowever, and that the direct and contingent obligors therefor foregoing restriction shall not apply to any (i) Adjusted Debt attributable to a Subsidiary (including any Person that will be changedor become a Subsidiary) of the Parent (including any refinancings, as a result amendments or extensions of such Adjusted Debt that do not increase, or provide for the increase of, the aggregate principal amount of such Adjusted Debt) that is assumed in connection with such extension(but not established in contemplation of) (A) a transaction that is permitted pursuant to Section 5.02(b) or (B) the purchase or acquisition of all of the capital stock of, refunding or refinancing,
all or substantially all of the assets of, another Person, (ii) Subsidiary Non-Recourse Debt, (iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all letters of the Company’s Subsidiaries not more than $25,000,000 at any one time outstanding,
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 at any one time outstanding,
(vi) Debt, if any, arising in connection with receivables securitization programs in an aggregate principal amount not to exceed $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program shall mean the Invested Amount),
(vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements credit entered into pursuant to and in accordance with regulatory requirements in the ordinary course of business such Subsidiary's unit investment trust business, (iv) Permitted Unit Investment Trust Debt to protect the Company extent that (A) any such Debt is not outstanding for longer than 5 consecutive Business Days, and its Subsidiaries against fluctuations (B) so long as such Debt is outstanding, it is supported by readily marketable securities that are in an amount sufficient to repay such Debt and accrued interest thereon and fees associated therewith and that are held in trust or exchange rates,
(viii) obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed $150,000,000 arising in connection with the administration and operation of cash management services otherwise set aside for the Company repayment of such Permitted Unit Investment Trust Debt, or if there is an insufficiency in such amount, the amount of such insufficiency shall be otherwise permitted under this Section 5.02(g), and (v) guarantee by a Subsidiary of any Debt qualifying under clauses (i) through (iv) of its Subsidiariesthis Section 5.02(g). For the avoidance of doubt, including cash pooling arrangements and overdraft facilities,
“Adjusted Debt” shall exclude (x) Debt of any Subsidiary owing to the Parent or any other Subsidiary and (y) Debt of the Parent owing to any Subsidiary. With respect to any Non-Loan Party Xxxxx, such Non-Loan Party Xxxxx shall only be excluded from the foregoing restrictions so long as such Non-Loan Party Xxxxx remains a Person at Finance Subsidiary; provided that, in the time such Person is merged into event a Non-Loan Party Xxxxx shall make any loan or consolidated with other advance (a “Xxxxx Loan”) to any Subsidiary of the Company or becomes Parent that is not a Subsidiary of the Company; provided that Loan Party (such Debt was not created in contemplation of such mergerSubsidiary, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in parta “Xxxxx Loan Recipient”), such DebtXxxxx Loan shall be subject to an intercreditor agreement among all Xxxxx Loan Recipients effectively providing for pari passu treatment with respect to the Obligations and the Debt of each Non-Loan Party Xxxxx, provided further such intercreditor agreement to be in form and substance reasonably satisfactory to the Administrative Agent. So long as doing so would not result in a Non-Loan Party Xxxxx ceasing to be or qualify as a Finance Subsidiary, each Non-Loan Party Xxxxx that the principal amount of such Debt makes a Xxxxx Loan to a Xxxxx Loan Recipient shall not be increased above the principal amount thereof outstanding immediately prior provide an acknowledgment and consent to such extension, refunding intercreditor agreement (and in the event such acknowledgment and consent would result in a Non-Loan Party Xxxxx ceasing to be or refinancing, and the direct and contingent obligors therefor shall not be changed (other than qualify as a result of merger or consolidation)Finance Subsidiary, as a result of or in connection with the Parent 68457597_7 shall instead provide an acknowledgment and consent to such extension, refunding or refinancing,
(xi) Debt, if any, arising in connection with the sales of accounts receivable, including pursuant to factoring programs, whether or not the Company or any intercreditor agreement for itself and on behalf of its Subsidiaries remain as servicer; and
(xii) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of businessSubsidiaries).
Appears in 1 contract
Samples: Credit Agreement (Invesco Ltd.)
Subsidiary Debt. Permit any of its Subsidiaries to create or suffer to exist, any Debt other than:
(i) Debt owed to the Company or to a wholly owned Subsidiary of the Company or Debt owed under this Agreement or the NotesAgreement,
(ii) Debt existing on, or available under lines of credit existing on, on the Effective Date and date hereof that is described on Schedule 5.02(d) hereto or the principal or face amount of which does not exceed $10,000,000 individually or $25,000,000 in the aggregate (the “Existing Debt”), and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, the Existing Debt, provided that the principal amount of, or amount available under lines of credit constituting, such Existing Debt shall not be increased above the principal amount thereof outstanding or amount available immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed, as a result of or in connection with such extension, refunding or refinancing,
(iii) Debt secured by Liens permitted by Section 5.02(a)(ii) aggregating for the Company and all of the Company’s Subsidiaries not more than $25,000,000 at any one time outstanding,
(iv) Debt that, in aggregate with (but without duplication of) all Debt secured by Liens permitted by Section 5.02(a)(viii), does not exceed $100,000,000 at any one time outstanding,
(v) Debt incurred or assumed or acquired by Subsidiaries of the Company organized under the laws of any country other than the United States of America or a State thereof aggregating for all such Subsidiaries of not more than $400,000,000 500,000,000 at any one time outstanding,
(iv) guarantees of Debt of the Company or any other Subsidiary of the Company,
(v) guarantees of Debt of any Person (other than the Company or any of its Subsidiaries), provided that the aggregate principal amount of such Debt shall not exceed $25,000,000 at any one time outstanding,
(vi) Debt, if any, arising in connection with receivables securitization programs in an aggregate principal amount not to exceed $750,000,000 at any time outstanding (for purposes of this clause (v), the “principal amount” of a receivables securitization program shall mean the Invested Amount),
(vii) obligations of any Subsidiary of the Company organized under the laws of any country other than the United States of America or a State thereof under any Hedge Agreements entered into in the ordinary course of business to protect the Company and its Subsidiaries against fluctuations in interest or exchange rates,;
(viii) obligations in respect of acceptances, trade letters of credit, undrawn standby letters of credit, bank guarantees, surety bonds or similar extensions of credit,
(ix) obligations which in aggregate do not exceed $150,000,000 arising in connection with the administration and operation of cash management services for the Company and any of its Subsidiaries, including cash pooling arrangements and overdraft facilities,
(x) Debt of a Person at the time such Person is merged into or consolidated with any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Debt was not created in contemplation of such merger, consolidation or acquisition, and any Debt extending the maturity of, or refunding or refinancing, in whole or in part, such Debt, provided further that the principal amount of such Debt shall not be increased above the principal amount thereof outstanding immediately prior to such extension, refunding or refinancing, and the direct and contingent obligors therefor shall not be changed (other than as a result of merger or consolidation), as a result of or in connection with such extension, refunding or refinancing,
(xi) Debt, if any, arising in connection with the sales of accounts receivable, including pursuant to factoring programs, whether or not the Company or any of its Subsidiaries remain as servicer; and
(xiivii) endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business,
(viii) Debt related to investments in operations located in the Peoples’ Republic of China in an amount not to exceed $500,000,000 at any one time outstanding; and
(ix) other Debt aggregating for all of the Company’s Subsidiaries, together with Debt secured by Liens permitted under Section 5.02(a)(x), an amount not to exceed $150,000,000 at any one time outstanding.
Appears in 1 contract
Samples: Credit Agreement (Corning Inc /Ny)