Common use of Senior Debt to Total Capital Clause in Contracts

Senior Debt to Total Capital. The Borrower will not permit the ratio of Senior Debt to Total Capital on any day on which a Borrowing occurs and the last day of each fiscal quarter to exceed .50 to 1.00; provided, however, that if (i) all Committed Equity has been contributed in full in cash to the Borrower and (ii) Covered Pops meet or exceed 60% of the aggregate number of Pops within the Licensed Territory (as defined in the Network License Agreement) then the ratio of Senior Debt to Total Capital may exceed .50 to 1.00 but shall not exceed .55 to 1.00.

Senior Debt to Total Capital. The Holdings and the Borrower will not permit the ratio of Senior Debt to Total Capital in each case on any day on which a Borrowing occurs and the last day of each fiscal quarter to exceed .50 to 1.001; provided, however, that if -------- ------- (i) all Committed Equity has Unfunded Commitments (as defined in the Securities Purchase Agreement) have been contributed in full in cash to the Borrower and (ii) Covered Pops meet or exceed 60% of the aggregate number of Pops within the Licensed Territory (as defined in the Network License Agreement) then the ratio of Senior Debt to Total Capital may exceed .50 to 1.00 1 but shall not exceed .55 to 1.001.

Senior Debt to Total Capital. The Holdings and the Borrower will not permit the ratio of Senior Debt to Total Capital in each case on any day on which a Borrowing occurs and the last day of each fiscal quarter to exceed .50 to 1.001; provided, however, that if (i) all Committed Equity has -------- ------- Unfunded Commitments (as defined in the Securities Purchase Agreement) have been contributed in full in cash to the Borrower and (ii) Covered Pops meet or exceed 60% of the aggregate number of Pops within the Licensed Territory (as defined in the Network License Agreement) then the ratio of Senior Debt to Total Capital may exceed .50 to 1.00 1 but shall not exceed .55 to 1.001 on or prior to December 31, 2000 and thereafter shall not be limited.