Business Limitations. The Parties hereby agree to continue with their ordinary course of business and the ordinary course of their operations and not to become involved in any extraordinay operations or activities that may affect the valuation of the companies or the pre-established Exchange Ratio. The Companies may: (i) distribute cash dividends, both provisional and/or definitive, before the Merger Effective Date, (ii) issue notes (“obligaciones negociables”) with or without a public offering, and obtain bank loans from local or international financial markets as long as the borrower’s aggregate level of financial net liabilities is not higher than three (3) times the company’s EBITDA level of the twelve month period immediately prior to the date of determination.
Appears in 4 contracts
Samples: Preliminary Merger Agreement (Telecom Argentina Sa), Preliminary Merger Agreement (Cablevision Holding S.A.), Preliminary Merger Agreement (Telecom Argentina Sa)
