Indebtedness of Subsidiaries Sample Clauses
The "Indebtedness of Subsidiaries" clause sets limits or conditions on the amount and types of debt that a company's subsidiaries are permitted to incur. Typically, this clause outlines specific thresholds, categories of permitted indebtedness, or requires lender consent before subsidiaries can take on new loans or financial obligations. For example, it may prohibit subsidiaries from borrowing above a certain amount or restrict them from granting security interests without approval. The core function of this clause is to protect the financial stability of the parent company and its lenders by preventing excessive or risky borrowing at the subsidiary level, thereby managing overall credit risk within the corporate group.
Indebtedness of Subsidiaries. The Company will not permit any of its Subsidiaries to create, incur, assume or suffer to exist any Indebtedness or any preferred stock or other preferred equity interests other than: (a) Indebtedness in existence on the date hereof and listed on Schedule 8.08 hereto and any refinancings, refundings, renewals or extensions thereof; provided that the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension, except by an amount equal to any premium or other amount paid, and fees and expenses incurred, in connection therewith; (b) Indebtedness of any Subsidiary to the Company or any other Subsidiary; (c) Indebtedness of any Person that becomes a Subsidiary of the Company (or of any Person not previously a Subsidiary that is merged or consolidated with or into a Subsidiary in a transaction permitted hereunder), or Indebtedness of any Person that is assumed by any Subsidiary in connection with an acquisition of assets by such Subsidiary, in each case, after the date hereof; provided that such Indebtedness is in existence at the time such Person becomes a Subsidiary of the Company (or is so merged or consolidated) or such assets are acquired and is not created in anticipation thereof, and any refinancings, refundings, renewals or extensions thereof, provided that the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an amount equal to any premium or other amount paid, and fees and expenses incurred, in connection therewith; (d) Indebtedness of any Subsidiary incurred to finance the acquisition, construction or improvement of any real and/or tangible personal Property acquired, constructed or improved by such Subsidiary, including Capital Lease Obligations; provided that such Indebtedness is incurred prior to or within one year after such acquisition or the completion of such construction or improvement and the principal amount of such Indebtedness does not exceed the cost of acquiring, constructing or improving such real and/or tangible personal Property, and any refinancings, refundings, renewals, amendments or extensions thereof, provided that the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an amount equal to any premium or other amount paid, and fees and expenses incurred, in connection therewith; (e) (i) Guarantees by Subsidiaries of obligations of the Company an...
Indebtedness of Subsidiaries. The Borrower will not permit any Subsidiary to create, incur, assume, become liable in respect of or suffer to exist any Indebtedness, except to the extent otherwise permitted hereunder:
(a) Indebtedness (including, without limitation, Capital Lease Obligations) secured by Liens permitted under Section 6.01(b);
(i) Indebtedness (including, without limitation, Capital Lease Obligations) secured by Liens permitted under Section 6.01(c) in an aggregate principal amount not to exceed $140,000,000, (ii) Indebtedness (other than Indebtedness permitted by clause (i)) consisting of Capital Lease Obligations and (iii) on and after the date on which Bel-Thai Supermarket Company Ltd. ("Bel- Thai") becomes a Subsidiary, Indebtedness of Bel-Thai in an aggregate principal amount not exceeding $60,000,000;
(c) Indebtedness of any Subsidiary owed to the Borrower or any other Subsidiary;
(d) Indebtedness of the Target and its subsidiaries outstanding on the Acquisition Date and not incurred in contemplation of the Acquisition; and
(e) additional Indebtedness of the Subsidiaries in an aggregate principal amount (for all Subsidiaries) at no time exceeding (i) $30,000,000 minus (ii) the aggregate principal amount of Indebtedness secured by Liens permitted solely by clause (e) of Section 6.01 outstanding at such time; provided that at any date the aggregate amount of Capital Lease Obligations of all Subsidiaries (other than any such Capital Lease Obligations incurred in reliance on clause (i) of subsection (b)) and the aggregate amount of Capital Lease Obligations of the Borrower will not exceed $1,000,000,000.
Indebtedness of Subsidiaries of the Borrower owing to the Borrower or to other Subsidiaries of the Borrower and Indebtedness of the Borrower owing to any of the Designated SBG Subsidiaries; provided that any Indebtedness of the Borrower owing to any Subsidiary that is not a Guarantor (i) shall be made pursuant to an intercompany note in the form and substance satisfactory to the Administrative Agent and shall be subordinated in right of payment from and after such time as the Loans shall become due and payable (whether at maturity, acceleration or otherwise) to the payment and performance of the Obligations and (ii) that is disposed, pledged or transferred (other than a disposition, pledge or transfer to a wholly-owned Subsidiary or a pledge to benefit the Secured Parties or the holders of the Initial Second Priority on a second-priority basis) will be deemed to be Indebtedness not permitted by this clause (c);
Indebtedness of Subsidiaries of the Borrower to the Borrower; and
Indebtedness of Subsidiaries. The Company will not at any time permit any Subsidiary, directly or indirectly, to create, incur, assume, guarantee, have outstanding, or otherwise become or remain directly or indirectly liable for, any Indebtedness other than:
(a) Indebtedness outstanding as of the Execution Date that is described on Schedule 10.3 and any extension, renewal, refunding or refinancing thereof, provided that the principal amount outstanding at the time of such extension, renewal, refunding or refinancing is not increased;
(b) Indebtedness owed to the Company or a Wholly Owned Subsidiary;
(c) Indebtedness of a Subsidiary outstanding at the time of its acquisition by the Company, provided that (i) such Indebtedness was not incurred in contemplation of becoming a Subsidiary, (ii) at the time of such acquisition and after giving effect thereto, no Default or Event of Default exists or would exist, and (iii) such Indebtedness may not be extended, renewed, refunded or refinanced except as otherwise permitted herein;
(d) Indebtedness of a Subsidiary (i) under any Guaranty Agreement and (ii) under a Primary Credit Facility so long as such Subsidiary is a Subsidiary Guarantor party to an effective Guaranty Agreement;
(e) Indebtedness not otherwise permitted by the preceding clauses (a) through (d), provided that immediately before and after giving effect thereto and to the application of the proceeds thereof:
(i) no Default or Event of Default exists; and
(ii) Priority Debt does not exceed 20% of Consolidated Net Worth (as of the end of the Company’s then most recently completed fiscal quarter).
Indebtedness of Subsidiaries. 38 6.4 Liens..........................................................................................38 6.5
Indebtedness of Subsidiaries. No Subsidiary has any Indebtedness other than (a) on terms that limit recourse for the payment thereof to the real property or other assets of the Subsidiary securing such Indebtedness, provided that the assets securing such Indebtedness were acquired or developed with the proceeds of such Indebtedness, (b) such Indebtedness that is owed by a SPE Subsidiary, or (c) Indebtedness permitted under Section 8.04, 8.06 or 8.07 hereof.
Indebtedness of Subsidiaries. The Company will not ----------------------------- permit the sum of (a) the aggregate outstanding principal amount of Indebtedness of Subsidiaries (other than Permitted Subsidiary Indebtedness) and (b) Specified Company Indebtedness at any time to exceed 15% of Consolidated Net Assets.
Indebtedness of Subsidiaries. 53 SECTION 6.03.
Indebtedness of Subsidiaries. Pioneer will not allow any of its Subsidiaries to incur, create or permit to exist indebtedness to any person or entity other than Pioneer except for trade payables and lease obligations for real estate, fixtures and equipment incurred in the ordinary course of each of such Subsidiaries' respective business; and provided further that the aggregate of all such indebtedness, excluding real property lease obligations, to persons and entities other than Pioneer for each branch office location of each Subsidiary shall not exceed Two Hundred Fifty Thousand Dollars ($250,000) at any time.