Amendments to Negative Covenants. (a) Section 6.01(c) of the Credit Agreement is hereby amended by replacing the reference therein to “Section 6.04(c)” with a reference to “Section 6.04(a)”.
(b) Section 6.04 of the Credit Agreement is hereby amended to read in its entirety as follows:
Amendments to Negative Covenants. Section 7 of the Credit Agreement is hereby amended in its entirety as set forth on Annex B attached hereto.
Amendments to Negative Covenants. Section 6 of the Agreement is amended as follows:
Amendments to Negative Covenants. The Facility Agreement will be amended to provide that the following (but only the following) negative covenants will apply to Aytu and its Subsidiaries (other than the Borrower and its Subsidiaries, as to whom all affirmative covenants contained in Section 5.1 of the Facility Agreement, as modified by the Closing Date Modifications, will continue to apply); provided that the additional exceptions, qualifications and baskets described below shall be included and shall be applicable to Aytu and its Subsidiaries (other than the Borrower and its Subsidiaries): · Section 5.2(i)(a) and (c) (Fundamental Changes) · Section 5.2(iii) (Liens; Disposition of Loan Documents Rights and Obligations); provided that the following will be added to the definition of “Permitted Liens” for Aytu and its Subsidiaries (other than the Borrower and its Subsidiaries): o Liens securing purchase money obligations owed by Aytu and its Subsidiaries (other than the Borrower and its Subsidiaries) not to exceed $250,000 in the aggregate at any time outstanding; and o Liens securing any royalty obligations owed by Aytu to any Lender or any Affiliate of a Lender · Section 5.2(iv) (Indebtedness); provided that the definition of “Permitted Indebtedness” will be amended to provide that Aytu and its Subsidiaries (other than the Borrower and its Subsidiaries) shall be permitted, (i) from and after the 91st day after the Closing Date, to incur unsecured Indebtedness in an aggregate amount outstanding not to exceed an amount to be agreed that is subordinated in right of payment to the Obligations pursuant to a subordination agreement substantially similar in form and substance to the Convertible Note Subordination Agreement or otherwise in form and substance reasonably acceptable to the Lenders, (ii) to incur purchase money obligations in an aggregate amount not to exceed $250,000 outstanding at any time and (iii) to incur unsecured indebtedness in an aggregate amount outstanding at any time not to exceed $1,000,000. · Section 5.2(vi) (Asset Sales and Other Dispositions); provided that Aytu and its Subsidiaries (other than the Borrower and its Subsidiaries) shall be permitted to effect a divestiture of the Mioxsys product line and related IP. For purposes of clarity, the foregoing shall not limit assets sales and dispositions between the Loan Parties (including the New Guarantors). · Section 5.2(x) (Nature of Business) · Section 5.2(xi)(b) (Payments on Certain Indebtedness) · Section 5.2(xii) (Tra...
Amendments to Negative Covenants. (a) Section 9.3(h) of the Credit Agreement is hereby amended by deleting the proviso contained therein and substituting in lieu thereof the following: "provided that the consideration paid by the Borrower or any of its Subsidiaries in all such transactions on and after the First Amendment Effective Date does not exceed in the aggregate $65,000,000"
(b) Section 9.4(b) of the Credit Agreement is hereby amended by deleting the text "for such Fiscal Year" contained therein and substituting in lieu thereof the text "for the prior Fiscal Year"
Amendments to Negative Covenants. The Facility Agreement will be amended to provide that the following (but only the following) negative covenants will apply to Aytu and its Subsidiaries (other than the Borrower and its Subsidiaries, as to whom all affirmative covenants contained in Section 5.1 of the Facility Agreement, as modified by the Closing Date Modifications, will continue to apply); provided that the additional exceptions, qualifications and baskets described below shall be included and shall be applicable to Aytu and its Subsidiaries (other than the Borrower and its Subsidiaries):
Amendments to Negative Covenants. (1) Section 7.03(g) of the Credit Agreement is hereby amended in its entirety to read as follows (with the text of Section 7.03 not quoted herein, Section 7.03(g) as amended below will read that "Borrower shall not, and shall not permit any Subsidiary to, directly or indirectly" take the action identified):
Amendments to Negative Covenants. (a) In Section 8.2 of the Loan Agreement, the words “(aside from any negative pledge in relation to the Existing Credit Agreement)” are hereby inserted immediately after the words “maintain any obligation” in clause (e).
(b) The reference to “(i)” in Section 8.7(b) of the Loan Agreement is hereby deleted.
Amendments to Negative Covenants. Section 10.2 of the Credit Agreement is hereby amended by:
(a) deleting subparagraph (l) in its entirety and substituting the following new subparagraph therefor:
Amendments to Negative Covenants. (a) Section 7.4(1)(f) of the Existing Credit Agreement is deleted and replaced with the following provision:
7.4(1) (f) enter into any transaction which would result in, or otherwise cause or permit any action or series of actions which would result in, any Person, or group of Persons acting in concert, other than the Borrower or another Obligor, owning sufficient Capital Stock to appoint the majority of the directors, trustees, managing partners or similar officials having day-to-day operational control of any of the CanWest Fund Entities; or
(b) Section 7.4(4)(b) of the Existing Credit Agreement is deleted and replaced with the following provision:
7.4(4) (b) make any Investments except for (i) the guarantees given as part of the Security, and (ii) provided no Default has occurred and is continuing or would result therefrom, (x) Permitted Investments made between October 13, 2005 and October 31, 2008, (y) investments made by an Obligor in the Borrower or in another Obligor which is a wholly owned Subsidiary of the Borrower, which Investments are, to the extent required in Section 3.1, pledged and delivered to the Collateral Agent, and (z) the guarantees referred to in Section 1.1.139(k);
