Common use of Limitation on Subsidiary Debt Clause in Contracts

Limitation on Subsidiary Debt. Except for any Indebtedness to the Borrower or any Wholly-Owned Consolidated Subsidiary of the Borrower, and except for Acquired Indebtedness, the Borrower will not permit any of its Subsidiaries to incur or at any time be liable with respect to any Indebtedness in an aggregate amount at any one time outstanding in excess of $20,000,000.

Appears in 2 contracts

Sources: Credit Agreement (Alliant Techsystems Inc), Credit Agreement (Alliant Techsystems Inc)

Limitation on Subsidiary Debt. Except for any Indebtedness Debt to the Borrower or any Wholly-Owned Consolidated Subsidiary of the Borrower, and except for Acquired Indebtedness, the Borrower will not permit any of its Subsidiaries to incur or at any time be liable with respect to any Indebtedness Debt in an aggregate amount at any one time outstanding in excess of $20,000,000.

Appears in 1 contract

Sources: Credit Agreement (Alliant Techsystems Inc)