Common use of Sections 10 Clause in Contracts

Sections 10. 4(a) and (b) of each of the Existing Note Purchase Agreements shall be and are hereby amended as follows: (a) Total Senior Debt minus the amount of the Collateral subject to the Security Agreement is less than (i) in the case of any determination prior to or on September 29, 2000, the lesser of (A) $200,000,000 and (B) 70% of Total Capitalization, (ii) in the case of any determination after September 29, 2000 to and including June 29, 2001, 58% of Total Capitalization and (iii) in the case of any determination on or after June 30, 2001, 56% of Total Capitalization, (b) the sum of Total Senior Debt plus Total Subordinated Debt minus the amount of the Collateral subject to the Security Agreement is less than (i) in the case of any determination prior to or on September 29, 2000, the lesser of (A) $200,000,000 and (B) 70% of Total Capitalization and (ii) in the case of any determination after September 29, 2000, 65% of Total Capitalization,"

Appears in 1 contract

Sources: Amendment Agreement (American Homestar Corp)

Sections 10. 4(a) and (b) of each of the Existing Note Purchase Agreements shall be and are hereby amended as follows: (a) Total Senior Debt minus the sum of (x) cash and cash equivalents of the Company and its Restricted Subsidiaries and (y) the amount of the Collateral subject to the Security Agreement Agreement, is less than (i) in the case of any determination prior to or on September 29, 20002001, the lesser of (A) $200,000,000 and (B) 70% of Total Capitalization, (ii) in the case of any determination after September 29, 2000 to and including June 29, 2001, 58% of Total Capitalization and (iiiii) in the case of any determination on or after June September 30, 2001, 56% of Total Capitalization, (b) the sum of Total Senior Debt plus Total Subordinated Debt minus the sum of (x) cash and cash equivalents of the Company and its Restricted Subsidiaries and (y) the amount of the Collateral subject to the Security Agreement is less than (i) in the case of any determination prior to or on September 29, 20002001, the lesser of (A) $200,000,000 and (B) 70% of Total Capitalization and (ii) in the case of any determination after September 29, 20002001, 65% of Total Capitalization,"

Appears in 1 contract

Sources: Amendment and Warrant Agreement (American Homestar Corp)