Specified Investment

Specified Investment. (a) the purchase or other acquisition by the Borrower or any Subsidiary (in a single transaction or a series of related transactions) (i) resulting in ownership by the Borrower or any Subsidiary of up to 20% of the common Equity Interests in a Person identified as "Martin" (the "Target") for up to $300,000,000 and (ii) of an exclusive license to use the Target's or an Affiliate of Target's technology platform to develop products in therapeutic areas of interest to Cephalon for up to... $150,000,000, (b) any capital contributions or loans or advances by the Borrower or any Subsidiary to any Subsidiary of the funds to make the investments referred to in clause (a), and (c) any subsequent transfer of Equity Interests in the Target or the exclusive license referred to in clause (a)(ii) above from the Borrower or any Subsidiary to any Subsidiary; provided that the definitive documentation for the transactions referred to in clause (a) above shall have been executed and delivered on or prior to January 31, 2011, and, at the time of and immediately after giving effect to any such transactions, (x) no Default shall have occurred and be continuing and (y) the Borrower shall be in compliance with the covenants set forth in Sections 6.12, 6.13 and 6.14, in each case determined on a pro forma basis in a manner consistent with Section 1.04(b) solely to give effect to the incurrence of Indebtedness, if any, by the Borrower or any Subsidiary in connection with such transactions. View More