Common use of Debt and Restricted Payments Clause in Contracts

Debt and Restricted Payments. (a) Tenant will not, directly or indirectly make, or cause or permit any Subsidiary of the Tenant to make, any Restricted Payment, unless at the time thereof, and after giving effect thereto: (i) the Tenant's Adjusted Consolidated Net Worth equals or exceeds $53,000,000 as of the end of the month preceding the date of such Restricted Payment; and (ii) such Restricted Payment, together with all other Restricted Payments made from the commencement date of the Term to the date of such Restricted Payment does not exceed the sum of 40% of the Tenant's Consolidated Net Income on a cumulative basis beginning with and including the fiscal year in which the Term commenced to the month immediately preceding the date of such Restricted Payment. (b) The Tenant will not become or be a guarantor or surety of, or otherwise incur any Contingent Obligation or become or be responsible in any manner (whether by agreement to purchase any obligations, stock, assets, goods or services, or to supply or advance any funds, assets, goods or services, or otherwise) with respect to, any undertaking of any other Person (except as to any Subsidiary), or make or permit to exist any loans or advances to, or investments in, any other Person (except as to any Subsidiary) other than (i) for an amount outstanding at any time not to exceed Fifteen Million Dollars ($15,000,000) less the amount of Funded Debt outstanding at such time under clause (iii) of paragraph (c) below and (ii) additional Contingent Obligations up to three (3) times Consolidated EBIDTA for the most recent four (4) fiscal quarters ending immediately prior to such date of determination on a proforma basis, reduced by the amount of Funded Debt outstanding under clause (iv) of paragraph (c) below. (c) Tenant will not, and will not permit any Subsidiary directly or indirectly to, incur, create, assume any Indebtedness other than (i) Funded Debt outstanding on the Closing Date and reflected in the audited financial statements described in Paragraph 28(b), (ii) Funded Debt that replaces or refinances the Funded Debt described in (i) above and is repayable on the basis of an amortization schedule substantially similar to, or having lower scheduled payments than, the amortization schedule for the Funded Debt outstanding on the Closing Date, (iii) not more than the amount at any time of Fifteen Million Dollars ($15,000,000) in Funded Debt in addition to the Funded Debt described in (i) and (ii) above less the amount of Contingent Obligation outstanding at such time under clause (i) of paragraph (b) above and (iv) additional Funded Debt up to three (3) times Consolidated EBIDTA for the most recent four (4) fiscal quarters ending immediately prior to such date of determination on a proforma basis, reduced by the amount of Contingent Obligations outstanding at such time under clause (ii) of paragraph (b) above.

Debt and Restricted Payments. (a) Tenant will not, directly or indirectly make, or cause or permit any Subsidiary of the Tenant to make, any Restricted Payment, unless at the time thereof, and after giving effect thereto: (i) no Event of Default shall have occurred and be continuing; and (ii) the Tenant's Adjusted Consolidated Net Worth equals or exceeds $53,000,000 as of the end of the month preceding the date of such Restricted Payment; and (iiiii) such Restricted Payment, together with all other Restricted Payments made from the commencement date of the Term to the date of such Restricted Payment does not exceed the sum of 40% of the Tenant's Consolidated Net Income on a cumulative basis beginning with and including the fiscal year in which the Term commenced to the month immediately preceding the date of such Restricted Payment. (b) The Tenant will not become or be a guarantor or surety of, or otherwise incur any Contingent Obligation or become or be responsible in any manner (whether by agreement to purchase any obligations, stock, assets, goods or services, or to supply or advance any funds, assets, goods or services, or otherwise) with respect to, any undertaking of any other Person (except as to any Subsidiary), or make or permit to exist any loans or advances to, or investments in, any other Person (except as to any Subsidiary) other than (i) for an amount outstanding at any time not to exceed Fifteen Million Dollars ($15,000,000) less the amount of Funded Debt outstanding at such time under clause (iii) of paragraph (c) below and (ii) additional Contingent Obligations up to three (3) times Consolidated EBIDTA for the most recent four (4) fiscal quarters ending immediately prior to such date of determination on a proforma basis, reduced by the amount of Funded Debt outstanding under clause (iviii) of paragraph (c) below. (c) Tenant will not, and will not permit any Subsidiary directly or indirectly to, incur, create, assume any Indebtedness other than (i) Funded Debt outstanding on the Closing Date and reflected in the audited financial statements described in Paragraph 28(b), (ii) Funded Debt that replaces or refinances the Funded Debt described in (i) above and is repayable on the basis of an amortization schedule substantially similar to, or having lower scheduled payments better than, the amortization schedule for the Funded Debt outstanding on the Closing Date, (iii) not more than the amount at any time of Fifteen Million Dollars ($15,000,000) in Funded Debt in addition to the Funded Debt described in (i) and (ii) above less the amount of Contingent Obligation outstanding at such time under clause (i) of paragraph (b) above and (iv) additional Funded Debt up to three (3) times Consolidated EBIDTA for the most recent four (4) fiscal quarters ending immediately prior to such date of determination on a proforma basis, reduced by the amount of Contingent Obligations Obligation outstanding at such time under clause (ii) of paragraph (b) above.

Debt and Restricted Payments. (a) Tenant will not, directly or indirectly make, or cause or permit any Subsidiary of the Tenant to make, any Restricted Payment, unless at the time thereof, and after giving effect thereto: (i) no Event of Default shall have occurred and be continuing; and (ii) the Tenant's Adjusted Consolidated Net Worth equals or exceeds $53,000,000 as of the end of the month preceding the date of such Restricted Payment; and (iiiii) such Restricted Payment, together with all other Restricted Payments made from the commencement date of the Term to the date of such Restricted Payment does not exceed the sum of 40% of the Tenant's Consolidated Net Income on a cumulative basis beginning with and including the fiscal year in which the Term commenced to the month immediately preceding the date of such Restricted Payment. (b) The Tenant will not become or be a guarantor or surety of, or otherwise incur any Contingent Obligation or become or be responsible in any manner (whether by agreement to purchase any obligations, stock, assets, goods or services, or to supply or advance any funds, assets, goods or services, or otherwise) with respect to, any undertaking of any other Person (except as to any Subsidiary), or make or permit to exist any loans or advances to, or investments in, any other Person (except as to any Subsidiary) other than (i) for an amount outstanding at any time not to exceed Fifteen Million Dollars ($15,000,000) less the amount of Funded Debt outstanding at such time under clause (iii) of paragraph (c) below and (ii) additional Contingent Obligations obligations up to three (3) times Consolidated EBIDTA for the most recent four (4) fiscal quarters ending immediately prior to such date of determination on a proforma basis, reduced by the amount of Funded Debt outstanding under clause (iviii) of paragraph (c) below. (c) Tenant will not, and will not permit any Subsidiary directly or indirectly to, incur, create, assume any Indebtedness other than (i) Funded Debt outstanding on the Closing Date and reflected in the audited financial statements described in Paragraph 28(b), (ii) Funded Debt that replaces or refinances the Funded Debt described in (i) above and is repayable on the basis of an amortization schedule substantially similar to, or having lower scheduled payments better than, the amortization schedule for the Funded Debt outstanding on the Closing Date, (iii) not more than the amount at any time of Fifteen Million Dollars ($15,000,000) in Funded Debt in addition to the Funded Debt described in (i) and (ii) above less the amount of Contingent Obligation outstanding at such time under clause (i) of paragraph (b) above and (iv) additional Funded Debt up to three (3) times Consolidated EBIDTA for the most recent four (4) fiscal quarters ending immediately prior to such date of determination on a proforma basis, reduced by the amount of Contingent Obligations Obligation outstanding at such time under clause (ii) of paragraph (b) above.

Debt and Restricted Payments. (a) Tenant will not, directly or indirectly make, or cause or permit any Subsidiary of the Tenant to make, any Restricted Payment, unless at the time thereof, and after giving effect thereto: : (i) the Tenant's Adjusted Consolidated Net Worth equals or exceeds $53,000,000 as of the end of the month preceding the date of such Restricted Payment; and and (ii) such Restricted Payment, together with all other Restricted Payments made from the commencement date of the Term to the date of such Restricted Payment does not exceed the sum of 40% of the Tenant's Consolidated Net Income on a cumulative basis beginning with and including the fiscal year in which the Term commenced to the month immediately preceding the date of such Restricted Payment. (b) The Tenant will not become or be a guarantor or surety of, or otherwise incur any Contingent Obligation or become or be responsible in any manner (whether by agreement to purchase any obligations, stock, assets, goods or services, or to supply or advance any funds, assets, goods or services, or otherwise) with respect to, any undertaking of any other Person (except as to any Subsidiary), or make or permit to exist any loans or advances to, or investments in, any other Person (except as to any Subsidiary) other than Contingent Obligations which meet any one of the following criteria: (i) for an amount outstanding at any time a Contingent Obligation which, when added to other Contingent Obligations then outstanding, does not to exceed Fifteen Million Dollars ($15,000,000) ), less the amount of Funded Debt outstanding at such time under clause (iii) of paragraph (c) below and below, or (ii) additional a Contingent Obligation which, when added to the aggregate amount of all other Contingent Obligations up then outstanding, does not exceed an amount equal to (A) three (3) times Consolidated EBIDTA for the most recent four (4) fiscal quarters ending immediately prior to such the date of determination on a proforma basiscreation of such new Contingent Obligation, reduced by minus (B) the amount of Funded Debt outstanding under clause (iv) of paragraph (c) belowbelow as of the same date. (c) Tenant will not, and will not permit any Subsidiary directly or indirectly to, incur, create, assume any Indebtedness other than Indebtedness which meets any one of the following criteria (i) Funded Debt outstanding on the Closing Date and reflected in the audited financial statements described in Paragraph 28(b), (ii) Funded Debt that replaces or refinances the Funded Debt described in (i) above and is repayable on the basis of an amortization schedule substantially similar to, or having lower scheduled payments than, the amortization schedule for the Funded Debt outstanding on the Closing Date, (iii) not more than the Funded Debt up to a maximum principal amount at any time of Fifteen Million Dollars ($15,000,000) in Funded Debt in addition to the Funded Debt described in (i) and (ii) above at any time outstanding, less the amount of Contingent Obligation Obligations outstanding at such time under clause (i) of paragraph (b) above and above, (iv) additional Funded Debt (not including for this purpose Funded Debt permitted under clause (iii) above or Qualified Subordinated Debt) up to three (3) times Consolidated EBIDTA for the most recent four (4) fiscal quarters ending immediately prior to such date of determination on a proforma basis, reduced by the amount of Contingent Obligations outstanding at such time under clause (ii) of paragraph (b) above., or (v)

Debt and Restricted Payments. (a) Tenant will not, directly or indirectly make, or cause or permit any Subsidiary of the Tenant to make, any Restricted Payment, unless at the time thereof, and after giving effect thereto: (i) no Event of Default shall have occurred and be continuing; and (ii) the Tenant's Adjusted Consolidated Net Worth equals or exceeds $53,000,000 as of the end of the month preceding the date of such Restricted Payment; and (iiiii) such Restricted Payment, together with all other Restricted Payments made from the commencement date of the Term to the date of such Restricted Payment does not exceed the sum of 40% of the Tenant's Consolidated Net Income on a cumulative basis beginning with and including the fiscal year in which the Term commenced to the month immediately preceding the date of such Restricted Payment. (b) The Tenant will not become or be a guarantor or surety of, or otherwise incur any Contingent Obligation or become or be responsible in any manner (whether by agreement to purchase any obligations, stock, assets, goods or services, or to supply or advance any funds, assets, goods or services, or otherwise) with respect to, any undertaking of any other Person (except as to any Subsidiary), or make or permit to exist any loans or advances to, or investments in, any other Person (except as to any Subsidiary) other than (i) for an amount outstanding at any time not to exceed Fifteen Million Dollars ($15,000,000) less the amount of Funded Debt outstanding at such time under clause (iii) of paragraph (c) below and (ii) additional Contingent Obligations up to three (3) times Consolidated EBIDTA for the most recent four (4) fiscal quarters ending immediately prior to such date of determination on a proforma basis, reduced by the amount of Funded Debt outstanding under clause (iv) of paragraph (c) below. (c) Tenant will not, and will not permit any Subsidiary directly or indirectly to, incur, create, assume any Indebtedness other than (i) Funded Debt outstanding on the Closing Date and reflected in the audited financial statements described in Paragraph 28(b), (ii) Funded Debt that replaces or refinances the Funded Debt described in (i) above and is repayable on the basis of an amortization schedule substantially similar to, or having lower scheduled payments than, the amortization schedule for the Funded Debt outstanding on the Closing Date, (iii) not more than the amount at any time of Fifteen Million Dollars ($15,000,000) in Funded Debt in addition to the Funded Debt described in (i) and (ii) above less the amount of Contingent Obligation outstanding at such time under clause (i) of paragraph (b) above 81 and (iv) additional Funded Debt up to three (3) times Consolidated EBIDTA for the most recent four (4) fiscal quarters ending immediately prior to such date of determination on a proforma basis, reduced by the amount of Contingent Obligations outstanding at such time under clause (ii) of paragraph (b) above.