Common use of Incurrence of Additional Indebtedness Clause in Contracts

Incurrence of Additional Indebtedness. The Company shall not, and shall not permit any Subsidiary to, incur any Indebtedness that ranks senior to the Notes and that is secured by a perfected first priority security interest in the assets of the Company or any of its Subsidiaries; provided, however, the Company and/or its Subsidiaries may incur or issue, and the foregoing sentence shall not prohibit: (a) any Indebtedness that is authorized by the Holders of at least 51% in aggregate principal amount of Notes then outstanding in accordance with this Indenture; and (b) for the avoidance of doubt, any securitization financings that may be completed from time to time by the Company and/or its Subsidiaries, including any such securitization financings that involve security interests granted by the Company and/or its Subsidiaries in respect of the applicable securitized assets.