Common use of Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements Clause in Contracts

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) hereto; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments by the Borrower in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 at any time outstanding; (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness Indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoCash Equivalents; (ii) investments made extensions of trade credit in accordance with the investment policy ordinary course of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretionbusiness; (iii) investments arising from the settlement of debts or as a result of bankruptcy or insolvency proceedings or as a result of enforcement proceedings; (iv) investments of the Borrower and the Subsidiaries existing on the date hereof; (v) investments by the Borrower existing on the date hereof in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) loans, advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances other investments made by the Borrower to or in any Subsidiary and made by any Subsidiary to or in the Borrower or any other Subsidiary; (vii) Guarantees to the extent that the resulting Debt would be permitted by Section 6.08 and, if applicable, Section 6.02; (viii) the acquisition of the capital stock of the Target pursuant to the Acquisition Documents; (ix) guarantees investments of the Target and its subsidiaries (i) existing on the date hereof or (ii) made after the date hereof and prior to the Acquisition Date, so long as such investments are permitted to be made by the Borrower or any Subsidiary of obligations terms of the Borrower or any other Subsidiary which do not constitute IndebtednessMerger Agreement; (x) Guarantees at any time on or after the Bridge Payout Date, acquisitions of a Person or the assets of a Person constituting Indebtedness permitted a business unit in the same line of business conducted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person the Borrower on the date hereof in an aggregate amount not to exceed $200,000,000 600,000,000 over the term of this Agreement; provided that acquisitions of equity interests in a Person which do not result in such Person constituting a Subsidiary shall not exceed an aggregate amount of $200,000,000; and (xi) investments not otherwise permitted pursuant to this Section 6.04 in an aggregate amount not to exceed $20,000,000 at any time outstanding;. (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than (i) Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities, (ii) any Hedging Agreements to hedge interest rate risk with respect to the loans outstanding under the Bridge Agreement and (iii) Hedging Agreements constituting "treasury-locks" or similar hedging arrangements entered into by the Borrower in anticipation of an issuance of Debt by the Borrower pursuant to a capital markets transaction.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) hereto; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments by the Borrower in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 225,000,000 at any time outstanding; (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Other than in the ordinary course of business for a finance company, the US Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, or Guarantee any obligations of , any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unitunit (all of the foregoing, “Investments”), except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoPermitted Investments; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments Investments by the US Borrower in the capital stock of its Subsidiaries; (iviii) Permitted Acquisitions; (v) investments received in connection with loans or advances made by the bona fide settlement of US Borrower to any defaulted Indebtedness Subsidiary or other liability owed the Mexican Borrower and made by any Subsidiary to the US Borrower, the Mexican Borrower or any other Subsidiary; (vi) ; provided that the aggregate principal amount of loans and advances or loans made in by the ordinary course of business to employees of the US Borrower or any of and its Subsidiaries in an to the Mexican Borrower together with the aggregate principal amount of Indebtedness permitted to be incurred or to exist pursuant to Section 8.02(g) and Section 8.02(m), shall not to exceed $10,000,000 250,000,000 at any time outstanding; (viiiv) loans or and advances to third party contractors, suppliers employees of any Borrower or customers its Subsidiaries in the ordinary course of business (including for travel and consistent relocation expenses); (v) loans made by the US Borrower to International in an amount not to exceed $50,000,000 at any one time outstanding; (vi) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; (vii) the US Borrower and its Subsidiaries may acquire a Controlling interest in an entity, or any assets constituting a business unit of a Person, that engages in a business similar to the business of the type conducted by the US Borrower and its Subsidiaries so long as, after giving pro forma effect thereto, the US Borrower is in compliance with past practiceSection 8.01(a) and (b); (viii) loans or advances Investments made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiaryin connection with Qualified Securitization Transactions; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute IndebtednessInvestments set forth on Schedule 8.05; (x) the Guarantee by the US Borrower contained in Article XI and other Guarantee obligations of the US Borrower incurred in accordance with Section 8.02; (xi) Guarantees constituting Indebtedness by any Subsidiary, so long as such guarantor simultaneously delivers to the Administrative Agent a Guarantee, in form and substance reasonably satisfactory to the Administrative Agent and on terms no less favorable than the terms in such original Guarantee entered into by such Subsidiary, for the benefit of the Administrative Agent, on behalf of the Lenders; (xii) in addition to Investments otherwise expressly permitted by Section 6.02this Section, Investments in an aggregate amount (valued at cost) not to exceed the sum of (A) $50,000,000 and (B) any return of capital or earnings received in respect of such Investments during the term of this Agreement; and (xixiii) any other investments in, advances Investments (including debt obligations and equity) received in connection with the bankruptcy or loans to or Guarantees reorganization of suppliers and customers and in settlement of delinquent obligations of, any Person and other disputes with, customers and suppliers arising in an aggregate amount not to exceed $200,000,000 at any time outstanding;the ordinary course of business. (b) The US Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the US Borrower or any such Subsidiary is exposed in the conduct of its business or the management of its liabilitiesliabilities or as otherwise required by any Qualified Securitization Transaction.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower Company will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) hereto; (ii) investments made in accordance with the investment policy of the Borrower Company as set forth on Schedule 6.05(ii) hereto; as provided PROVIDED that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments by the Borrower Company in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower Company or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower Company or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 (or the equivalent thereof in one or more other currencies) at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower Company to any Subsidiary and made by any Subsidiary to the Borrower Company or any other Subsidiary; (ix) guarantees by the Borrower Company or any Subsidiary of obligations of the Borrower Company or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 (or the equivalent thereof in one or more other currencies) at any time outstanding;. (b) The Borrower Company will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the BorrowerCompany's stock repurchase program) to hedge or mitigate risks to which the Borrower Company or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower Borrowers will not, and will not permit any of its their respective Subsidiaries to, purchase, hold purchase or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stockCapital Stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoPermitted Investments; (ii) investments made by a Borrower in accordance with the investment policy Capital Stock of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment its Subsidiaries (including newly created or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretionacquired Subsidiaries); (iii) investments by the Borrower in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower Borrowers to any Subsidiary and made by any Subsidiary to the Borrower Borrowers or any other Subsidiary, and any loans and advances to any Subsidiary shall include such loans and advances to foreign Subsidiaries and Oaktree Capital Management (Cayman) L.P., Oaktree Investment Holdings, L.P. and their respective subsidiaries to fund the operating costs and budgeted Capital Expenditures of such entities; provided that at the time of such loan or advance, no Default or Event of Default shall have occurred and be continuing or would result therefrom; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (xiv) Guarantees (A) constituting Indebtedness permitted by Section 6.026.1 and (B) of other obligations (including lease obligations of Subsidiaries and Oaktree Capital Management (Cayman) L.P., Oaktree Investment Holdings, L.P. and their respective subsidiaries) not prohibited by this Agreement; and (xiv) loans or advances made directly by a Borrower or indirectly by a Borrower through one or more intermediaries to the employees and/or principals of any other investments inmember of the Oaktree Operating Group or any of their respective subsidiaries (A) that are outstanding for less than four months, advances (B) that are secured by (x) the Capital Stock of ControlCo or loans to (y) “points” in the management fee or Guarantees ofincentive allocation of any investment fund or any subsidiary thereof that is managed by any Borrower or any Subsidiary, any Person in each case, held by such employees and/or principals, or (C) in an aggregate principal amount not to exceed $200,000,000 50,000,000 at any one time outstanding; (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilitiesoutstanding for all Borrowers.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Other than in the ordinary course of business for a finance company, the US Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with with, or as a Division Successor pursuant to the Division of, any Person that was not a wholly owned Subsidiary prior to such mergermerger or Division) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, or Guarantee any obligations of , any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unitunit (all of the foregoing, “Investments”), except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoPermitted Investments; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments Investments by the US Borrower in the capital stock of its Subsidiaries; (iviii) Permitted Acquisitionsloans or advances made by the US Borrower to any Subsidiary or the Mexican Borrower and made by any Subsidiary to the US Borrower, the Mexican Borrower or any other Subsidiary; provided that the aggregate principal amount of loans and advances outstanding at any time made by the US Borrower and its Subsidiaries to the Mexican Borrower, shall not exceed the lesser of (x) $20,000,000 and (y) the amount that would cause the aggregate Available Mexican Commitments at such time to be equal to zero; (viv) investments received in connection with the bona fide settlement loans and advances to employees of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made its Subsidiaries in the ordinary course of business (including for travel and relocation expenses); (v) [reserved]; (vi) deposits to employees secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; (vii) [reserved]; (viii) Investments made in connection with Qualified Securitization Transactions; (ix) Investments by the US Borrower existing on the Effective Date under the Used Truck Loan Agreement; provided that (x)(1) Used Truck Loans shall not exceed $170,000,000 on or after the Original MaturityAmendment No. 4 Effective Date and (2) the Loan to Value Ratio shall not exceed (x) in the case of Used Truck Loans relating to MaxxForce Used Trucks, 65% and (y) in the case of all other Used Truck Loans, 85%; (A) the Guarantee by the US Borrower contained in Article XI and (B) other Guarantee obligations of the US Borrower incurred in accordance with Section 8.02; (xi) Guarantees by any Subsidiary, so long as such guarantor simultaneously delivers to the Administrative Agent a Guarantee, in form and substance reasonably satisfactory to the Administrative Agent and on terms no less favorable than the terms in such original Guarantee entered into by such Subsidiary, for the benefit of the Administrative Agent, on behalf of the Lenders; (xii) [reserved]; (xiii) [reserved]; (xiv) Investments (including debt obligations and equity) received in connection with the bankruptcy or any reorganization of its Subsidiaries suppliers and customers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business; (xv) additional unsecured Guarantees of obligations in an aggregate amount not to exceed $10,000,000 25,000,000 at any one time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.02; and (xixvi) any other investments in, advances or loans to or Guarantees of, any Person Investments in an aggregate amount not to exceed (together with all Investments made under this clause (xvi) and the Special Dividend) the Additional Dividend/Investment Amount; provided further that (x) up to $200,000,000 150,000,000 of such Investments shall be made on or after the Amendment No. 3 Effective Date and on or prior to the Dividend/Investment Date and (y) up to $50,000,000 of such Investments may be made at any time outstandingon or after the Amendment No. 3 Effective Date.; (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Other than in the ordinary course of business for a finance company, the US Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, or Guarantee any obligations of , any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unitunit (all of the foregoing, “Investments”), except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoPermitted Investments; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments Investments by the US Borrower in the capital stock of its Subsidiaries; (iviii) Permitted Acquisitionsloans or advances made by the US Borrower to any Subsidiary or the Mexican Borrower and made by any Subsidiary to the US Borrower, the Mexican Borrower or any other Subsidiary; provided that the aggregate principal amount of loans and advances made by the US Borrower and its Subsidiaries to the Mexican Borrower together with the aggregate principal amount of Indebtedness permitted to be incurred or to exist pursuant to Section 8.02(g) and Section 8.02(m), shall not exceed $250,000,000 at any time outstanding; (viv) investments received in connection with the bona fide settlement loans and advances to employees of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made its Subsidiaries in the ordinary course of business (including for travel and relocation expenses); (v) loans made by the US Borrower to employees International and/or any Affiliate of International in an amount not to exceed $50,000,000 at any one time outstanding; (vi) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; (vii) the US Borrower and its Subsidiaries may acquire a Controlling interest in an entity, or any assets constituting a business unit of a Person, that engages in a business similar to the business of the type conducted by the US Borrower or any of and its Subsidiaries so long as, after giving pro forma effect thereto, the US Borrower is in compliance with Section 8.01(a) and (b); (viii) Investments made in connection with Qualified Securitization Transactions; (ix) Investments set forth on Schedule 8.05; (A) the Guarantee by the US Borrower contained in Article XI and (B) other Guarantee obligations of the US Borrower incurred in accordance with Section 8.02; (xi) Guarantees by any Subsidiary, so long as such guarantor simultaneously delivers to the Administrative Agent a Guarantee, in form and substance reasonably satisfactory to the Administrative Agent and on terms no less favorable than the terms in such original Guarantee entered into by such Subsidiary, for the benefit of the Administrative Agent, on behalf of the Lenders; (xii) in addition to Investments otherwise expressly permitted by this Section, Investments in an aggregate amount (valued at cost) not to exceed the sum of (A) $50,000,000 and (B) any return of capital or earnings received in respect of such Investments during the term of this Agreement; (xiii) in addition to Investments otherwise expressly permitted by this Section, and so long as no Default or Event of Default shall exist or result therefrom, Investments in an aggregate amount (valued at cost) not to exceed (A) the Applicable Amount minus (B) the amount of any Restricted Payments made pursuant to Section 8.06(c) plus (C) any return of capital or earnings received in respect of such Investments during the term of this Agreement; (xiv) Investments (including debt obligations and equity) received in connection with the bankruptcy or reorganization of suppliers and customers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business; and (xv) additional Guarantees of obligations in an aggregate amount not to exceed $10,000,000 25,000,000 at any one time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 at any time outstanding;. (b) The US Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the US Borrower or any such Subsidiary is exposed in the conduct of its business or the management of its liabilitiesliabilities or as otherwise required by any Qualified Securitization Transaction.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness Indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, otherwise provide any credit support to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoCash Equivalents; (ii) investments made extensions of trade credit in accordance with the investment policy ordinary course of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretionbusiness; (iii) investments arising from the settlement of debts or as a result of bankruptcy or insolvency proceedings or as a result of enforcement proceedings; (iv) investments of the Borrower and the Subsidiaries existing on the date hereof; (A) investments by the Borrower existing on the date hereof in the capital stock of its Subsidiaries; Subsidiaries and (iv) Permitted Acquisitions; (vB) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to by the Borrower or any SubsidiarySubsidiary consisting solely of the creation of one or more new Subsidiaries (it being understood that the purchase or other acquisition (in one transaction or a series of transactions) of any assets of any other Person constituting a business unit shall not be permitted by this clause (v)(B)); (vi) loans, advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances other investments made by the Borrower to or in any Subsidiary and made by any Subsidiary to or in the Borrower or any other Subsidiary; (ixvii) guarantees (x) Guarantees by the Borrower or any Subsidiary of obligations its Subsidiaries of any Debt or Indebtedness of any Person (other than the Borrower Parent or any other Subsidiary entity through which do not constitute the Parent holds any Capital Stock of the Borrower), so long as (1) in the case of any Debt, such Debt and Guarantee would be permitted under Section 6.08 and (2) in the case of any Indebtedness, such Indebtedness is permitted under Section 6.02 and (y) Restricted Guarantees permitted under Section 6.02; (xviii) Guarantees acquisitions of a Person or the assets of a Person constituting Indebtedness permitted a business unit in the same line of business conducted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person the Borrower on the date hereof in an aggregate amount not to exceed $200,000,000 600,000,000 over the term of this Agreement; provided that acquisitions of equity interests in a Person which do not result in such Person constituting a Subsidiary shall not exceed an aggregate amount of $200,000,000; (ix) purchase of common stock or ADRs of the Parent, solely for the purpose of providing such stock or ADRs as compensation to employees of the Borrower and its Subsidiaries pursuant to compensation plans of the Borrower in the ordinary course of business; and (x) investments not otherwise permitted pursuant to this Section 6.04(a) in an aggregate amount not to exceed $20,000,000 at any time outstanding;. (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than (i) Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities, and (ii) Hedging Agreements constituting “treasury-locks” or similar hedging arrangements entered into by the Borrower in anticipation of an issuance of Debt by the Borrower pursuant to a capital markets transaction.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i7.05(i) hereto; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii7.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments by the Borrower in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.027.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 225,000,000 at any time outstanding; (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i7.05(i) hereto; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii7.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments by the Borrower in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions;Acquisitions not to exceed in any period of four consecutive fiscal quarters (A) $100,000,000, or (B) if the Leverage Ratio as at the last day of any two consecutive fiscal quarters is less than 1.50:1.00, $200,000,000. (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.027.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 75,000,000 at any time outstanding;; provided that such amount may be increased by $20,000,000 in connection with the joint venture described in Schedule 7.05(iii). (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's ’s stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoPermitted Investments; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments by the Borrower in the capital stock of its SubsidiariesSubsidiaries (whether now existing or formed following the Closing Date); (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viiiiii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (xiv) Guarantees constituting Indebtedness permitted by Section 6.02; (v) Permitted Acquisitions; and (xivi) any other investments ininvestments, advances loans, advances, guarantees or loans to or Guarantees of, any Person acquisitions in an aggregate principal amount not to exceed exceeding $200,000,000 40,000,000 at any time outstanding;. (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilitiesliabilities and not for purposes of speculation or taking a “market view”.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Restricted Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist remain outstanding any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unitInvestment, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) hereto; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments Investments by the Borrower in the capital stock of and its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower or any of its Restricted Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; Subsidiaries (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made including Guarantees by the Borrower to of Indebtedness of any Subsidiary and made by any Restricted Subsidiary to of Indebtedness of the Borrower or any other Subsidiary), provided that the aggregate amount of any such Investments (including Guarantees) by the Borrower and its Restricted Subsidiaries in Unrestricted Subsidiaries after the date hereof (net of returns on such Investments after the date hereof) shall not exceed $100,000,000 and no such Investment may be made at any time that a Default exists or if a Default would result therefrom; (ixii) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute IndebtednessPermitted Investments; (xiii) Guarantees constituting Indebtedness operating deposit accounts with banks; (iv) Disposition Investments received in connection with any Disposition permitted by under Section 6.027.04(d) or any Disposition to which the Lenders shall have consented in accordance with Section 10.02; (v) Investments in Affiliates not exceeding $5,000,000 at any one time outstanding; (vi) Investments in Affiliates described in, and permitted by, Section 7.07 (other than clause (iii) of the proviso to Section 7.07); and (xivii) additional Investments in Persons that are not Affiliates up to but not exceeding $75,000,000 in the aggregate at any other investments inone time outstanding, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 provided that no such Investment may be made at any time outstanding;that a Default exists or if a Default would result therefrom. (b) The Borrower will not, and will not permit any of its Restricted Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Restricted Subsidiary is exposed in the conduct of its business or the management of its liabilities.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower Parent will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness Indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, otherwise provide any credit support to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoCash Equivalents; (ii) investments made extensions of trade credit in accordance with the investment policy ordinary course of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretionbusiness; (iii) investments by arising from the Borrower settlement of debts or as a result of bankruptcy or insolvency proceedings or as a result of enforcement proceedings; (iv) investments of the Parent and the Subsidiaries existing on the date hereof; (v) (A) investments existing on the date hereof in the capital stock of its Subsidiaries; Subsidiaries and (iv) Permitted Acquisitions; (vB) investments received by the Parent or any Subsidiary consisting solely of the creation of one or more new Subsidiaries (it being understood that the purchase or other acquisition (in connection with the bona fide settlement one transaction or a series of transactions) of any defaulted Indebtedness or assets of any other liability owed to the Borrower or any SubsidiaryPerson constituting a business unit shall not be permitted by this clause (v)(B)); (vi) loans, advances and other investments made by the Parent to or loans in any Subsidiary and made by any Subsidiary to or in the ordinary course of business to employees of Parent or any other Subsidiary; (vii) Guarantees by the Borrower Parent or any of its Subsidiaries of any Debt or Indebtedness of any Person, so long as (1) in the case of any Debt, such Debt and Guarantee would be permitted under Section 6.08 and (2) in the case of any Indebtedness, such Indebtedness is permitted under Section 6.02; (viii) acquisitions of a Person or the assets of a Person constituting a business unit in the same line of business conducted by the Parent on the date hereof in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers 1,000,000,000 over the term of this Agreement; provided that acquisitions of equity interests in the ordinary course a Person which do not result in such Person constituting a Subsidiary shall not exceed an aggregate amount of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary;$200,000,000; and (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do investments not constitute Indebtedness; (xotherwise permitted pursuant to this Section 6.04(a) Guarantees constituting Indebtedness permitted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 €50,000,000 at any time outstanding;. (b) The Borrower Parent will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than (i) Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower Parent or any Subsidiary is exposed in the conduct of its business or the management of its liabilities, and (ii) Hedging Agreements constituting “treasury-locks” or similar hedging arrangements entered into by the Parent or the Borrower in anticipation of an issuance of Debt by the Parent or the Borrower pursuant to a capital markets transaction.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower Borrowers will not, and will not permit any of its their respective Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stockCapital Stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoPermitted Investments; (ii) investments made by a Borrower in accordance with the investment policy Capital Stock of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretionSubsidiaries (including newly created Subsidiaries); (iii) investments by the Borrower in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower Borrowers to any Subsidiary and made by any Subsidiary to the Borrower Borrowers or any other Subsidiary, and any loans and advances to any Subsidiary shall include such loans and advances to foreign Subsidiaries and Oaktree Capital Management (Cayman) L.P. and its subsidiaries to fund the operating costs and budgeted Capital Expenditures of such entities; provided that at the time of such loan or advance, no Default or Event of Default shall have occurred and be continuing or would result therefrom; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (xiv) Guarantees (A) constituting Indebtedness permitted by Section 6.026.1 and (B) of other obligations (including lease obligations of Subsidiaries and Oaktree Capital Management (Cayman) L.P. and its subsidiaries) not prohibited by this Agreement; and (xiv) loans or advances made directly by a Borrower or indirectly by a Borrower through one or more intermediaries to the employees and/or principals of any other investments inmember of the Oaktree Operating Group or any of their respective subsidiaries (A) that are outstanding for less than four months, advances (B) that are secured by (x) the Capital Stock of ControlCo or loans to (y) “points” in the management fee or Guarantees ofincentive allocation of any investment fund or any subsidiary thereof that is managed by any Borrower or any Subsidiary, any Person in each case, held by such employees and/or principals, or (C) in an aggregate principal amount not to exceed $200,000,000 25,000,000 at any one time outstanding; (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilitiesoutstanding for all Borrowers.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoPermitted Investments; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments by the Borrower existing on the date hereof in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viiiiii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (xiv) Guarantees constituting Indebtedness permitted by Section 6.02; (v) Permitted Acquisitions; and (xivi) any other investments ininvestments, advances loans, advances, guarantees or loans to or Guarantees of, any Person acquisitions in an aggregate principal amount not to exceed exceeding $200,000,000 20,000,000 at any time outstanding;. (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoCash Equivalents; (ii) investments made in accordance with as required to consummate the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretionAcquisition; (iii) extensions of trade credit in the ordinary course of business; (iv) investments arising from the settlement of debts or as a result of bankruptcy or insolvency proceedings or as a result of enforcement proceedings; (v) investments of the Borrower and the Subsidiaries (including the Target) existing on the date hereof; (vi) investments by the Borrower existing on the date hereof in the capital stock of its Subsidiaries; (ivvii) Permitted Acquisitions; (v) loans, advances and other investments received made by the Borrower to or in connection with the bona fide settlement of any defaulted Indebtedness Subsidiary and made by any Subsidiary to or other liability owed to in the Borrower or any other Subsidiary, provided that in each case such Subsidiary executes and delivers a guarantee of the Borrower's obligations hereunder in favor of the Administrative Agent in substantially the form of Exhibit C; (viviii) advances Guarantees to the extent that the resulting Debt would be permitted by Section 6.7; (ix) acquisitions of a Person or loans made the assets of a Person constituting a business unit in the ordinary course same line of business to employees of conducted by the Borrower or any on the date hereof (giving effect to the Acquisition) in an aggregate amount not to exceed $400,000,000 over the term of its Subsidiaries this Agreement; and (x) investments not otherwise permitted pursuant to this Section 6.3 in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 at any time outstanding;. (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoPermitted Investments; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments by the Borrower in the capital stock of its SubsidiariesSubsidiaries (whether now existing or formed following the Closing Date); (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viiiiii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (xiv) Guarantees constituting Indebtedness permitted by Section 6.02; (v) Permitted Acquisitions; and (xivi) any other investments ininvestments, advances loans, advances, guarantees or loans to or Guarantees of, any Person acquisitions in an aggregate principal amount not to exceed exceeding $200,000,000 25,000,000 at any time outstanding;. (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilitiesliabilities and not for purposes of speculation or taking a “market view”.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower Company will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any 96 89 option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unitunit (an "Investment"), except: (i) existing investments not otherwise permitted under this Agreement extensions of trade credit and described endorsements of negotiable instruments and other negotiable documents in Schedule 6.05(i) heretothe ordinary course of business; (ii) investments made in accordance with the investment policy loans and advances to employees and directors of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in Company and its reasonable discretion; (iii) investments by the Borrower in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made Subsidiaries for travel, entertainment and relocation expenses in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount for the Company and its Subsidiaries not to exceed $10,000,000 at any time outstanding; (viiiii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practicePermitted Investments; (viiiiv) Investments by the Company existing on the date hereof in its Subsidiaries; (v) equity Investments in Subsidiaries in an aggregate amount not in excess of $10,000,000; any initial equity Investments in any Subsidiary created after the date hereof or in any Subsidiary that is dormant on the date hereof; (vi) Investments consisting of loans or advances made by the Borrower to Company or any Subsidiary and made by any Subsidiary in or to the Borrower Company or any other Subsidiary; (ixvii) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.02; and 6.01 and (xiy) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 at any time outstanding; (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into by the Company in the ordinary course of business its business; provided that the aggregate amount of Guarantees permitted by this subclause (including, without limitation, Hedging Agreements in connection with y) plus the Borrower's stock repurchase programaggregate amount of all Guarantees permitted by subclause (i) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed of Section 6.01(g) shall not exceed in the conduct aggregate $50,000,000 at any time outstanding; 97 90 (viii) Investments existing or contemplated on the date hereof and set forth on Schedule 6.04(a); (ix) Investments contemplated under "Intercompany Transactions: Asset Purchases Post Spin," as set forth on Schedule 1.01(a); provided that the aggregate amount of its business or the management of its liabilities.Investments permitted by this clause (ix) shall not exceed $7,000,000 on a cumulative basis; and

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Other than in the ordinary course of business for a finance company, the US Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, or Guarantee any obligations of , any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unitunit (all of the foregoing, “Investments”), except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoPermitted Investments; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments Investments by the US Borrower in the capital stock of its Subsidiaries; (iviii) Permitted Acquisitionsloans or advances made by the US Borrower to any Subsidiary or the Mexican Borrower and made by any Subsidiary to the US Borrower, the Mexican Borrower or any other Subsidiary; provided that the aggregate principal amount of loans and advances outstanding at any time made by the US Borrower and its Subsidiaries to the Mexican Borrower, shall not exceed the lesser of (x) $20,000,000 and (y) the amount that would cause the aggregate Available Mexican Commitments at such time to be equal to zero; (viv) investments received in connection with the bona fide settlement loans and advances to employees of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made its Subsidiaries in the ordinary course of business (including for travel and relocation expenses); (v) [reserved]; (vi) deposits to employees secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; (vii) [reserved]; (viii) Investments made in connection with Qualified Securitization Transactions; (ix) Investments by the US Borrower existing on the Effective Date under the Used Truck Loan Agreement and the Cayman Loan Agreements; provided that (x)(1) Used Truck Loans shall not exceed $168,000,000 prior to the Original Maturity Date and $125,000,000 on or after the Original Maturity Date and (2) the Loan to Value Ratio shall not exceed 65% and (y) any repayments under the Cayman Loan Agreements shall not be reused; (A) the Guarantee by the US Borrower contained in Article XI and (B) other Guarantee obligations of the US Borrower incurred in accordance with Section 8.02; (xi) Guarantees by any Subsidiary, so long as such guarantor simultaneously delivers to the Administrative Agent a Guarantee, in form and substance reasonably satisfactory to the Administrative Agent and on terms no less favorable than the terms in such original Guarantee entered into by such Subsidiary, for the benefit of the Administrative Agent, on behalf of the Lenders; (xii) [reserved]; (xiii) [reserved]; (xiv) Investments (including debt obligations and equity) received in connection with the bankruptcy or any reorganization of its Subsidiaries suppliers and customers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business; and (xv) additional unsecured Guarantees of obligations in an aggregate amount not to exceed $10,000,000 25,000,000 at any one time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 at any time outstanding;. (b) The US Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the US Borrower or any such Subsidiary is exposed in the conduct of its business or the management of its liabilitiesliabilities or as otherwise required by any Qualified Securitization Transaction.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Other than in the ordinary course of business for a finance company, the US Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, or Guarantee any obligations of , any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unitunit (all of the foregoing, “Investments”), except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoPermitted Investments; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments Investments by the US Borrower in the capital stock of its Subsidiaries; (iviii) Permitted Acquisitionsloans or advances made by the US Borrower to any Subsidiary or the Mexican Borrower and made by any Subsidiary to the US Borrower, the Mexican Borrower or any other Subsidiary; provided that the aggregate principal amount of loans and advances outstanding at any time made by the US Borrower and its Subsidiaries to the Mexican Borrower, shall not exceed the lesser of (x) $20,000,000 and (y) the amount that would cause the aggregate Available Mexican Commitments at such time to be equal to zero; (viv) investments received in connection with the bona fide settlement loans and advances to employees of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made its Subsidiaries in the ordinary course of business (including for travel and relocation expenses); (v) [reserved]; (vi) deposits to employees secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; (vii) [reserved]; (viii) Investments made in connection with Qualified Securitization Transactions; (ix) Investments by the US Borrower existing on the Effective Date under the Used Truck Loan Agreement and the Cayman Loan Agreements; provided that (x)(1) Used Truck Loans shall not exceed $168,000,000 prior to the Original Maturity Date and $125,000,000 on or after the Original Maturity Date and (2) the Loan to Value Ratio shall not exceed 65% and (y) any repayments under the Cayman Loan Agreements shall not be reused; (A) the Guarantee by the US Borrower contained in Article XI and (B) other Guarantee obligations of the US Borrower incurred in accordance with Section 8.02; (xi) Guarantees by any Subsidiary, so long as such guarantor simultaneously delivers to the Administrative Agent a Guarantee, in form and substance reasonably satisfactory to the Administrative Agent and on terms no less favorable than the terms in such original Guarantee entered into by such Subsidiary, for the benefit of the Administrative Agent, on behalf of the Lenders; (xii) [reserved]; (xiii) [reserved]; (xiv) Investments (including debt obligations and equity) received in connection with the bankruptcy or any reorganization of its Subsidiaries suppliers and customers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business; and (xv) additional unsecured Guarantees of obligations in an aggregate amount not to exceed $10,000,000 25,000,000 at any one time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.02.; and (xixvi) any other investments in, advances Investments made on or loans to or Guarantees of, any Person before the Dividend/Investment Date in an aggregate amount not to exceed $200,000,000 at any time outstanding; (btogether with all Investments made under this clause (xvi) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase programSpecial Dividend) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.the

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) hereto; Cash Equivalents; (ii) extensions of trade credit in the ordinary course of business; (iii) investments made in accordance with arising from the investment policy settlement of debts or as a result of bankruptcy or insolvency proceedings or as a result of enforcement proceedings; (iv) investments of the Borrower as set forth and the Subsidiaries existing on Schedule 6.05(ii) heretothe date hereof; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iiiv) investments by the Borrower existing on the date hereof in the capital stock of its Subsidiaries; ; (ivvi) Permitted Acquisitions; (v) loans, advances and other investments received made by the Borrower to or in connection with the bona fide settlement of any defaulted Indebtedness Subsidiary and made by any Subsidiary to or other liability owed to in the Borrower or any other Subsidiary; , provided that in each case such Subsidiary executes and delivers a guarantee of the Borrower's obligations hereunder in favor of the Administrative Agent in substantially the form of Exhibit C; (vivii) advances Guarantees to the extent that the resulting Debt would be permitted by Section 6.7; (viii) acquisitions of a Person or loans made the assets of a Person constituting a business unit in the ordinary course same line of business to employees of conducted by the Borrower or any on the date hereof in an aggregate amount not to exceed $400,000,000 over the term of its Subsidiaries this Agreement; and (ix) investments not otherwise permitted pursuant to this Section 6.3 in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 at any time outstanding;. (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness Indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, otherwise provide any credit support to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoCash Equivalents; (ii) investments made extensions of trade credit in accordance with the investment policy ordinary course of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretionbusiness; (iii) investments arising from the settlement of debts or as a result of bankruptcy or insolvency proceedings or as a result of enforcement proceedings; (iv) investments of the Borrower and the Subsidiaries existing on the date hereof; (A) investments by the Borrower existing on the date hereof in the capital stock of its Subsidiaries; Subsidiaries and (iv) Permitted Acquisitions; (vB) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to by the Borrower or any SubsidiarySubsidiary consisting solely of the creation of one or more new Subsidiaries (it being understood that the purchase or other acquisition (in one transaction or a series of transactions) of any assets of any other Person constituting a business unit shall not be permitted by this clause (v)(B)); (vi) loans, advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances other investments made by the Borrower to or in any Subsidiary and made by any Subsidiary to or in the Borrower or any other Subsidiary; (ixvii) guarantees (x) Guarantees by the Borrower or any Subsidiary of obligations its Subsidiaries of any Debt or Indebtedness of any Person (other than the Borrower Parent or any other Subsidiary entity through which do not constitute the Parent holds any Capital Stock of the Borrower), so long as (1) in the case of any Debt, such Debt and Guarantee would be permitted under Section 6.08 and (2) in the case of any Indebtedness, such Indebtedness is permitted under Section 6.02 and (y) Restricted Guarantees permitted under Section 6.02; (xviii) Guarantees acquisitions of a Person or the assets of a Person constituting Indebtedness permitted a business unit in the same line of business conducted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person the Borrower on the date hereof in an aggregate amount not to exceed $200,000,000 1,000,000,000 over the term of this Agreement; provided that acquisitions of equity interests in a Person which do not result in such Person constituting a Subsidiary shall not exceed an aggregate amount of $200,000,000; (ix) purchase of common stock or ADRs of the Parent, solely for the purpose of providing such stock or ADRs as compensation to employees of the Borrower and its Subsidiaries pursuant to compensation plans of the Borrower in the ordinary course of business; and (x) investments not otherwise permitted pursuant to this Section 6.04(a) in an aggregate amount not to exceed $50,000,000 at any time outstanding;. (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than (i) Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities, and (ii) Hedging Agreements constituting “treasury-locks” or similar hedging arrangements entered into by the Borrower in anticipation of an issuance of Debt by the Borrower pursuant to a capital markets transaction.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i7.05(i) hereto; (ii) investments made in accordance with the investment policy of the Borrower as set forth on Schedule 6.05(ii7.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretion; (iii) investments by the Borrower in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances made by the Borrower to any Subsidiary and made by any Subsidiary to the Borrower or any other Subsidiary; (ix) guarantees by the Borrower or any Subsidiary of obligations of the Borrower or any other Subsidiary which do not constitute Indebtedness; (x) Guarantees constituting Indebtedness permitted by Section 6.027.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person in an aggregate amount not to exceed $200,000,000 300,000,000 at any time outstanding; (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower Parent will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness Indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, otherwise provide any credit support to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoCash Equivalents; (ii) investments made extensions of trade credit in accordance with the investment policy ordinary course of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretionbusiness; (iii) investments by arising from the Borrower settlement of debts or as a result of bankruptcy or insolvency proceedings or as a result of enforcement proceedings; (iv) investments of the Parent and the Subsidiaries existing on the date hereof; (v) (A) investments existing on the date hereof in the capital stock of its Subsidiaries; Subsidiaries and (iv) Permitted Acquisitions; (vB) investments received by the Parent or any Subsidiary consisting solely of the creation of one or more new Subsidiaries (it being understood that the purchase or other acquisition (in connection with the bona fide settlement one transaction or a series of transactions) of any defaulted Indebtedness or assets of any other liability owed to the Borrower or any SubsidiaryPerson constituting a business unit shall not be permitted by this clause (v)(B)); (vi) loans, advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances other investments made by the Borrower Parent to or in any Subsidiary and made by any Subsidiary to or in the Borrower Parent or any other Subsidiary; (ixvii) guarantees Guarantees by the Borrower Parent or any Subsidiary of its Subsidiaries of any Debt or Indebtedness of any Person or other obligations of Subsidiaries of the Borrower or Parent, so long as (1) in the case of any other Subsidiary which do not constitute Debt, such Debt and Guarantee would be permitted under Section 6.08 and (2) in the case of any Indebtedness, such Indebtedness is permitted under Section 6.02; (xviii) Guarantees acquisitions of a Person or the assets of a Person constituting Indebtedness permitted a business unit in the same line of business conducted by Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person the Parent on the date hereof in an aggregate amount not to exceed $200,000,000 €1,000,000,000 over the term of this Agreement; provided that acquisitions of equity interests in a Person which do not result in such Person constituting a Subsidiary shall not exceed an aggregate amount of €200,000,000; (ix) investments not otherwise permitted pursuant to this Section 6.04(a) in an aggregate amount not to exceed €100,000,000 at any time outstanding;; and (x) Guarantees by the Parent of the Borrower’s obligations, or the obligations of any Subsidiary of the Parent organized in the United States, under applicable state self-insurance laws. (b) The Borrower Parent will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than (i) Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower Parent or any Subsidiary is exposed in the conduct of its business or the management of its liabilities, and (ii) Hedging Agreements constituting “treasury-locks” or similar hedging arrangements entered into by the Parent or the Borrower in anticipation of an issuance of Debt by the Parent or the Borrower pursuant to a capital markets transaction.

Investments, Loans, Advances, Guarantees and Acquisitions; Hedging Agreements. (a) The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness Indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (i) existing investments not otherwise permitted under this Agreement and described in Schedule 6.05(i) heretoCash Equivalents; (ii) investments made extensions of trade credit in accordance with the investment policy ordinary course of the Borrower as set forth on Schedule 6.05(ii) hereto; as provided that any material amendment or other material modification to such policy is subject to the approval of the Administrative Agent in its reasonable discretionbusiness; (iii) investments arising from the settlement of debts or as a result of bankruptcy or insolvency proceedings or as a result of enforcement proceedings; (iv) investments of the Borrower and the Subsidiaries existing on the date hereof; (v) investments by the Borrower existing on the date hereof in the capital stock of its Subsidiaries; (iv) Permitted Acquisitions; (v) investments received in connection with the bona fide settlement of any defaulted Indebtedness or other liability owed to the Borrower or any Subsidiary; (vi) loans, advances or loans made in the ordinary course of business to employees of the Borrower or any of its Subsidiaries in an aggregate amount not to exceed $10,000,000 at any time outstanding; (vii) loans or advances to third party contractors, suppliers or customers in the ordinary course of business and consistent with past practice; (viii) loans or advances other investments made by the Borrower to or in any Subsidiary and made by any Subsidiary to or in the Borrower or any other Subsidiary; (vii) Guarantees to the extent that the resulting Debt would be permitted by Section 6.08 and, if applicable, Section 6.02; (viii) the acquisition of the capital stock of the Target pursuant to the Acquisition Documents; (ix) guarantees investments of the Target and its subsidiaries (i) existing on the date hereof or (ii) made after the date hereof and prior to the Acquisition Date, so long as such investments are permitted to be made by the Borrower or any Subsidiary of obligations terms of the Borrower or any other Subsidiary which do not constitute Indebtedness;Merger Agreement; and (x) Guarantees constituting Indebtedness investments not otherwise permitted by pursuant to this Section 6.02; and (xi) any other investments in, advances or loans to or Guarantees of, any Person 6.04 in an aggregate amount not to exceed $200,000,000 20,000,000 at any time outstanding;. (b) The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Hedging Agreement, other than (i) Hedging Agreements entered into in the ordinary course of business (including, without limitation, Hedging Agreements in connection with the Borrower's stock repurchase program) to hedge or mitigate risks to which the Borrower or any Subsidiary is exposed in the conduct of its business or the management of its liabilities., (ii) any Hedging Agreements to hedge interest rate risk with respect to the loans outstanding hereunder and (iii) Hedging Agreements