EXHIBIT 99.2 FORM OF LIMITED WAIVER REGARDING FINANCIAL COVENANTSAckerley Group Inc • May 31st, 2002 • Services-advertising
In connection with that certain Limited Waiver dated as of March 18, 2002, Company had informed Administrative Agent and Lenders that Company would not be in compliance with the financial covenants in subsection 7.6 of the Credit Agreement for the Fiscal Year ended December 31, 2001 and for the first Fiscal Quarter ending March 31, 2002. Company has informed Administrative Agent and Lender that Company does not expect to be in compliance with the financial covenants in subsection 7.6 of the Credit Agreement for the second Fiscal Quarter ending June 30, 2002. At the request of Company the undersigned Lenders, constituting Requisite Lenders under subsection 10.6 of the Credit Agreement, hereby waive compliance with the provisions of subsection 7.6 of the Credit Agreement during the period from the date this Limited Waiver becomes effective through and including July 31, 2002 (the "WAIVER PERIOD"), provided, that (A) during the Waiver Period, the Company shall not be permitted to borrow a
