Permitted Debenture Repurchase

Permitted Debenture Repurchase. The Borrower may make one or more Restricted Payments to Parent in an aggregate amount for all such Restricted Payments not to exceed, at any date of determination, $46,800,000, the proceeds of which may be used by Parent solely to repurchase its 2003 Debentures prior to maturity so long as (i) no Default or Event of Default exists (A) at the time of the Restricted Payment or would exist immediately after giving effect to the Restricted Payment or (B) at the time of any repurchase of 2003... Debentures made with the proceeds of such Restricted Payment, (ii) the Borrower is in pro forma compliance with the financial covenants set forth in Article 7 (Financial Covenants) of this Agreement after giving effect to (A) such Restricted Payment and (B) any repurchase of 2003 Debentures made with the proceeds of such Restricted Payment, (iii) the Borrower provides notice to the Administrative Agent that the Restricted Payment is being made, (iv) the proceeds of the Restricted Payment are promptly used by Parent to repurchase such 2003 Debentures and (v) the purchase price paid for each 2003 Debenture so repurchased is not more than 90% of the face amount (plus accrued and unpaid interest) of such 2003 Debenture. View More