Permitted Distributorship Acquisition

Permitted Distributorship Acquisition. Means the proposed purchase by the Company and its Subsidiaries of approximately 10 of its independent distributors for a total consideration of approximately $22,700,000 (plus an amount of assumed liabilities and accruals not to exceed $10,000,000 in the aggregate), of which approximately $19,000,000 will be made in the form of common stock of the Company; provided that both before and after giving effect to such acquisition (i) no Default or Event of Default has occurred and is continuing and... (ii) the Company shall have demonstrated pro forma compliance with the financial covenants set forth in Section 6.12. View More