Permitted Redemption

Permitted Redemption. Any redemption, repurchase, or acquisition of the stock of Borrower provided that at the time of such redemption, no event of default has occurred or is then continuing, or after giving effect to such redemption, repurchase, or acquisition, an event of default would occur, and (a) is made pursuant to the terms of the then current Shareholders' Buy-Sell Agreement following the death, disability or termination of employment of a shareholder, and (b) does not result in principal payments in any... twelve (12) month period that would result in a violation of the financial covenant set forth in Section 7.5. For purposes of clarification, Permitted Redemptions shall be included in the calculation of Basic Fixed Charge Coverage Ratio. View More