Common use of Limitation on Additional Indebtedness Clause in Contracts

Limitation on Additional Indebtedness. None of the Company, nor any of its Subsidiaries (including without limitation, upon the creation or acquisition of such Subsidiary) shall, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable with respect to (collectively, "incur") any Indebtedness after the date of this Agreement, if a Default or an Event of Default shall have occurred and be continuing at the time or would occur as a consequence of the incurrence of such Indebtedness.

Appears in 5 contracts

Sources: Convertible Subordinated Note Purchase Agreement (Regent Assisted Living Inc), Convertible Subordinated Note Purchase Agreement (Regent Assisted Living Inc), Convertible Subordinated Note Purchase Agreement (Regent Assisted Living Inc)

Limitation on Additional Indebtedness. None of the Company, nor any of its Subsidiaries (including without limitation, upon the creation or acquisition of such Subsidiary) shall, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable with respect to (collectively, "incurINCUR") any Indebtedness after the date of this Agreement, if a Default or an Event of Default shall have occurred and be continuing at the time or would occur as a consequence of the incurrence of such Indebtedness.

Appears in 1 contract

Sources: Convertible Subordinated Note Purchase Agreement (LTC Healthcare Inc)