Investments by the U. S. Borrower and its Subsidiaries in respect of (i) payroll, moving, travel and similar advances made in the ordinary course of business to cover matters that are expected at the time of such advance ultimately to be treated as expenses (in accordance with GAAP), and (ii) loans and advances to their respective employees, officers, directors and consultants in the ordinary course of business in an aggregate amount (determined without giving effect to any write-downs or write-offs of such loans and advances) not to exceed $3,000,000 at any time outstanding;
Investments by the U. S. Borrower or any Subsidiary in joint ventures or the Equity Interests of any Subsidiary; (ii) intercompany loans from the U.S. Borrower or any Subsidiary to the U.S. Borrower or any Subsidiary or joint ventures; and (iii) Guarantees by the U.S. Borrower or any Subsidiary of Indebtedness of a joint venture or of Indebtedness otherwise permitted hereunder of the U.S. Borrower or any Subsidiary; provided that the sum of (A) Investments (valued at the time of the making thereof and without giving effect to any write‑downs or write‑offs thereof) made after the Closing Date by the Loan Parties pursuant to clause (i) in joint ventures and Subsidiaries that are not Subsidiary Loan Parties, plus (B) net intercompany loans made by Loan Parties after the Closing Date to joint ventures and Subsidiaries that are not Subsidiary Loan Parties pursuant to clause (ii), plus (C) Guarantees by Loan Parties of Indebtedness after the Closing Date of joint ventures and Subsidiaries that are not Subsidiary Loan Parties pursuant to clause (iii) (other than Guarantees by Loan Parties of the obligations under Secured Hedge Agreements of the Subsidiaries that are not Loan Parties), shall not exceed an aggregate net amount equal to $25.0 million (plus any return of capital actually received by the respective investors in respect of Investments theretofore made by them pursuant to this paragraph (b)); and provided further that intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations and intercompany sales of Holdings (prior to a Qualified IPO), the U.S. Borrower and the Subsidiaries shall not be included in calculating the limitation in this paragraph at any time;
Investments by the U. S. Borrower in the form of intercompany loans to Holdings (or any direct or indirect parent company thereof), and by Holdings in the form of intercompany loans to its direct or indirect parent company, in each case the proceeds of which are used to make payments permitted pursuant to Section 7.2.6;
Investments by the U. S. Borrower or any of its Restricted Subsidiaries in cash, Cash Equivalents or Investment Grade Securities;
Investments by the U. S. Borrower or any Restricted Subsidiary that result solely from the receipt by the U.S. Borrower or such Restricted Subsidiary from any of its subsidiaries of a dividend or other Restricted Payment in the form of Equity Interests, evidences of Indebtedness or other securities (but not any additions thereto made after the date of the receipt thereof);
Investments by the U. S. Borrower in the capital stock of the Canadian Borrower and the Subsidiaries (other than the Receivables Subsidiary), provided that (i) any such shares of capital stock shall be pledged pursuant to the U.S. Pledge Agreement (subject to the limitations applicable to common stock of a Foreign Subsidiary referred to in Section 5.12), (ii) the amount of investments by the U.S. Borrower and any Domestic Subsidiaries in the Canadian Borrower and the Canadian Borrower Subsidiaries shall not exceed in the aggregate at any time outstanding an amount equal to $50,000,000 minus the amount of any investments made pursuant to Section 6.04(g)(ii), (h)(i) and (n)(i) and (iii) the amount of investments by the U.S. Borrower in the Foreign Subsidiaries or any Joint Venture shall not exceed in the aggregate at any time outstanding an amount equal to the lesser at such time of (A) $25,000,000 minus the amount of any investments made pursuant to Section 6.04(g)(iii) and (n)(ii) and (B) $60,000,000 minus the amount of any investments made pursuant to Section 6.04(g)(iii), (h)(ii) and (n)(ii);
Investments by the U. S. Borrower in the form of intercompany loans to Holdings the proceeds of which are used to make payments permitted pursuant to Section 7.2.6;
Investments by the U. S. Borrower in any Wholly-Owned Subsidiary and Investments of any Subsidiary in any Wholly-Owned Subsidiary provided that, immediately before and after giving effect to such Investment, no Event of Default shall have occurred and be continuing and the aggregate amount invested by the U.S. Borrower and its Subsidiaries (other than foreign Subsidiaries) in foreign Subsidiaries after the Closing Date (excluding Investments in Ningbo Baowang Battery Company, Microlite S.A. and the Euro Borrower to the extent they increase the percentage of the Equity Interests held by a Wholly-Owned Subsidiary in each such Subsidiary) shall not exceed $100,000,000;
Investments by the U. S. Borrower in Swap Contracts;
Investments by the U. S. Borrower and its Subsidiaries in any Subsidiary or any Person in connection with joint ventures, partnerships or similar agreements or arrangements involving the sharing of profits or joint or coordinated purchasing or distribution (each a "Joint Venture Entity" and, collectively "Joint Venture Entities")) if, and only to the extent that, (i) the consideration comprising such Investment is contributed to a Joint Venture Entity in exchange for Equity Interests of the Joint Venture Entity to which such assets are contributed, (ii) the U.S. Borrower and its Subsidiaries shall comply with the provisions of Section 5.13 to the extent applicable to Joint Ventures (without giving effect to any grace periods provided for therein), (iii) in the case of Investments made in the form of cash or Cash Equivalents, the aggregate amount of such Investments (determined (x) based on the original cost of such Investments and without adjustment to the basis of such Investments to recognize earnings or losses after the date of an Investment and (y) solely for purposes of this clause (iii) without including the value attributable to contributed services) does not exceed $3,000,000, and (iv) in the case of Investments made in the form of one or more contributions of assets (other than assets constituting cash or Cash Equivalents), at the time of such contribution, the assets contributed to such Joint Venture Entity, together with the fair market value of all other contributions of assets (other than assets constituting cash or Cash Equivalents) made 116 pursuant to this clause (iv) (measured as of the respective dates of such contributions), shall have a fair market value not exceeding $5,000,000;
