Common use of Limitations on Subsidiary Debt Clause in Contracts

Limitations on Subsidiary Debt. The Borrower will not permit any Subsidiary to have or incur any Debt other than (i) Debt incurred or assumed for the purpose of financing all or any part of the cost of acquiring or developing an asset, provided that the amount of Debt so incurred or assumed does not exceed the acquisition or development cost of such asset, (ii) Debt consisting, or in respect, of existing tax-exempt bonds or the refinancing thereof, (iii) Debt the sole obligee of which is the Borrower and (iv)

Limitations on Subsidiary Debt. The Borrower will not ------------------------------ permit any Subsidiary to have or incur any Debt other than (i) Debt incurred or assumed for the purpose of financing all or any part of the cost of acquiring or developing an asset, provided that the amount of Debt so incurred or assumed -------- does not exceed the acquisition or development cost of such asset, (ii) Debt consisting, or in respect, of existing tax-exempt bonds or the refinancing thereof, (iii) Debt the sole obligee of which is the Borrower and (iv)