Common use of Incremental Equivalent Debt Clause in Contracts

Incremental Equivalent Debt. Indebtedness of Holdings or any Restricted Subsidiary (and any Permitted Refinancing thereof) in an aggregate principal amount not to exceed twice the amount of the net cash proceeds received by Holdings since the Closing Date from the issuance or sale of Equity Interests of Holdings or cash contributed to the capital of Holdings (in each case, other than proceeds of Disqualified Equity Interests or sales of Equity Interests to Holdings or any of its Subsidiaries) as determined in accordance with clauses (b) and (c) of the definition of “Cumulative Credit” to the extent such net cash proceeds have not been applied pursuant to such clauses to make Restricted Payments pursuant to Section 7.06 or to prepay, redeem, purchase, defease or satisfy Indebtedness pursuant to Section 7.13, so long as (i) such Indebtedness is incurred within one year following the receipt by Holdings of such net cash proceeds and (ii) such Indebtedness is designated as “Contribution Indebtedness” on the date incurred;