Common use of LIMITATION ON ISSUANCES OF GUARANTEES OF INDEBTEDNESS BY SUBSIDIARIES Clause in Contracts

LIMITATION ON ISSUANCES OF GUARANTEES OF INDEBTEDNESS BY SUBSIDIARIES. The Company will not permit any U.S. Restricted Subsidiary, 118 directly or indirectly, to Guarantee any other Indebtedness of the Company or any Subsidiary Guarantor ("U.S. SPECIFIED INDEBTEDNESS") unless such U.S. Restricted Subsidiary simultaneously executes and delivers a supplemental indenture to this Indenture providing for the Guarantee (a "U.S. SUBSIDIARY GUARANTEE") of the payment of the Notes by such U.S. Restricted Subsidiary thereby becoming a Subsidiary Guarantor, which U.S. Subsidiary Guarantee shall be subordinated to such U.S. Restricted Subsidiary's Guarantee of such U.S. Specified Indebtedness to the same extent as the Notes or the Subsidiary Guarantees, as applicable, are subordinated to such U.S. Specified Indebtedness under the Indenture; PROVIDED, HOWEVER, that a U.S. Restricted Subsidiary will not be required to provide a U.S. Subsidiary Guarantee under this Section 10.10 unless and until such time as such U.S. Restricted Subsidiary, individually or together with all other U.S. Restricted Subsidiaries that are otherwise obligated to provide a U.S. Subsidiary Guarantee under this Section 10.10, accounts for one percent or more of Consolidated Tangible Assets.

LIMITATION ON ISSUANCES OF GUARANTEES OF INDEBTEDNESS BY SUBSIDIARIES. (a) The Company will not permit any U.S. Restricted Subsidiary, 118 directly or indirectly, to Guarantee any other Indebtedness of the Company or any Subsidiary Guarantor ("U.S. SPECIFIED INDEBTEDNESS") unless such U.S. Restricted Subsidiary simultaneously executes and delivers a supplemental indenture to this Indenture providing for the Guarantee (a "U.S. SUBSIDIARY GUARANTEE") of the payment of the Notes by such U.S. Restricted Subsidiary thereby becoming a Subsidiary Guarantor, which U.S. Subsidiary Guarantee shall be subordinated to such U.S. Restricted Subsidiary's Guarantee of such U.S. Specified Indebtedness to the same extent as the Notes or the Subsidiary Guarantees, as applicable, are subordinated to such U.S. Specified Indebtedness under the Indenture; PROVIDED, HOWEVER, that a U.S. Restricted Subsidiary will not be required to provide a U.S. Subsidiary Guarantee under this Section 10.10 unless and until such time as such U.S. Restricted Subsidiary, individually or together with all other U.S. Restricted Subsidiaries that are otherwise obligated to provide a U.S. Subsidiary Guarantee under this Section 10.10, accounts for one percent or more of Consolidated Tangible Assets. (b) The Company will not permit any Foreign Subsidiary, directly or indirectly, to Guarantee any other Indebtedness of the Company or any Subsidiary Guarantor (the "FOREIGN SPECIFIED INDEBTEDNESS" that (i) is PARI PASSU with or expressly subordinated in right of payment to the Notes or the Subsidiary Guarantees, as applicable, or (ii) represents Public Debt, in each case, unless such Foreign Subsidiary simultaneously executes and delivers a supplemental indenture to this Indenture providing for the Guarantee (a "FOREIGN SUBSIDIARY GUARANTEE") of the payment of the Notes by such Foreign Subsidiary thereby becoming a Subsidiary Guarantor, which Foreign Subsidiary Guarantee shall be subordinated to such Foreign Subsidiary's Guarantee of such Foreign Specified Indebtedness to the same extent as the Notes or the Subsidiary Guarantees, as applicable, are subordinated to such Foreign Specified Indebtedness under the Indenture. 119 (c) The Company will have the right to cause any Restricted Subsidiary to execute and deliver to the Trustee a supplemental indenture to this Indenture pursuant to which such Subsidiary will Guarantee payment of the Notes thereby becoming a Subsidiary Guarantor. (d) Any Restricted Subsidiary that becomes a Subsidiary Guarantor pursuant to this Section 10.10 shall enter into a Subsidiary Guarantee as provided in Section 13.07 hereof.