Guarantees and Other Obligations. Enter into any agreement or arrangement to guarantee or, in any way or under any condition, assume or become obligated for all or any part of any financial or other obligation of another Person, except: (i) Non-Recourse Pledges; and (ii) guarantees or indemnities in respect of a portfolio of credit receivables originated by the Borrower and being subject of a sale, securitization or “synthetic” securitization as long as they exclusively relate to factoring or similar transactions with respect to the Borrower’s receivables in the ordinary course of business; provided, that after giving effect to the incurrence of any such obligations pursuant to items (i) and (ii), the Borrower and its Subsidiaries, are in compliance with the following ratios calculated in accordance with Section 5.01(m) (Affirmative Covenants) on a Pro Forma Basis: (A) an Interest Coverage Ratio of not less than 3.0; and (B) a Net Debt to EBITDA Ratio of not more than 2.5;
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Guarantees and Other Obligations. Enter into any agreement or arrangement to guarantee or, in any way or under any condition, assume or become obligated for all or any part of any financial or other obligation of another Person, except: :
(i) Non-Recourse Pledges; and;
(ii) guarantees or indemnities in respect of a portfolio of credit receivables originated by the Borrower and being subject of a sale, securitization or “synthetic” securitization as long as they exclusively relate to factoring or similar transactions with respect to the Borrower’s receivables in the ordinary course of business; provided, that after giving effect to the incurrence of any such obligations pursuant to items (i) and (ii), the Borrower and its Subsidiaries, Subsidiaries are in compliance with the following ratios ratios, calculated in accordance with Section 5.01(m5.01(l) (Affirmative CovenantsFinancial Ratios) on a Pro Forma Basis:
(A) an Interest Coverage Ratio of not less than 3.0; and and
(B) a Net Debt to EBITDA Ratio of not more than 2.5; ;
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Guarantees and Other Obligations. Enter into any agreement or arrangement to guarantee or, in any way or under any condition, assume or become obligated for all or any part of any financial or other obligation of another Person, except: :
(i) Non-Recourse Pledges; and
(ii) guarantees or indemnities in respect of a portfolio of credit receivables originated by the Borrower and being subject of a sale, securitization or “synthetic” securitization as long as they exclusively relate to factoring or similar transactions with respect to the Borrower’s receivables in the ordinary course of business; provided, that after giving effect to the incurrence of any such obligations pursuant to items (i) and (ii), the Borrower and its Subsidiaries, are in compliance with the following ratios calculated in accordance with Section 5.01(m) (Affirmative Covenants) on a Pro Forma Basis:
(A) an Interest Coverage Ratio of not less than 3.0; and and
(B) a Net Debt to EBITDA Ratio of not more than 2.5; ;
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