LESCO Restructuring Charges

LESCO Restructuring Charges. Shall mean for the six months ended June 30, 2002 either (i) reductions made by the Borrowers on the Borrowers' books and records with respect to the book value of certain assets, or (ii) charges incurred by the Borrower in connection with certain management and asset restructuring of the Borrowers, provided however, such amounts do not exceed either $23,351,000 in the aggregate, or the amounts set forth below for the enumerated items: ... reductions in value of inventory $9,608,000 reductions in value of fixed assets 7,266,000 reduction in value of intangibles 1,952,000 provision for continuing lease obligations on closed plants 1,253,000 employee severance and related costs (including $2,000,000 incurred to date) 2,410,000 other miscellaneous restructuring costs 862,000 ------------ Total $23,351,000 View More