Common use of Purchases and Sales of Additional Notes Clause in Contracts

Purchases and Sales of Additional Notes. Between the day after the Initial Closing Date (defined below) and April 30, 2002, CVGI will purchase from the Company, at the Company’s request, up to an additional $14,250,000 of Exchangeable Notes for 100% of their principal amount in three separate tranches of $5,000,000, $5,000,000 and $4,250,000. However, the Company may request multiple tranches simultaneously. Each request that CVGI purchase a tranche of Exchangeable Notes will be made by a written request from the Company to CVGI, accompanied by a certification by the chief executive officer and the chief financial officer of the Company that (i) the balance of cash and cash equivalents, adjusted to deduct (A) cash which is restricted or segregated by contract or trust agreement, and (B) amounts reflected on the books of the Company as a liability for outstanding checks and drafts, as that balance is reflected on the books of the Company has fallen below $7,000,000 and (ii) the Company needs the proceeds of the sale of the additional Exchangeable Notes.

Purchases and Sales of Additional Notes. Between the day after the Initial Closing Date (defined below) and April 30, 2002, CVGI will purchase from the Company, at the Company’s 's request, up to an additional $14,250,000 of Exchangeable Notes for 100% of their principal amount in three separate tranches of $5,000,000, $5,000,000 and $4,250,000. However, the Company may request multiple tranches simultaneously. Each request that CVGI purchase a tranche of Exchangeable Notes will be made by a written request from the Company to CVGI, accompanied by a certification by the chief executive officer and the chief financial officer of the Company that (i) the balance of cash and cash equivalents, adjusted to deduct (A) cash which is restricted or segregated by contract or trust agreement, and (B) amounts reflected on the books of the Company as a liability for outstanding checks and drafts, as that balance is reflected on the books of the Company has fallen below $7,000,000 and (ii) the Company needs the proceeds of the sale of the additional Exchangeable Notes.