ANY PROPERTY OR ASSET
THAT IS A LEASE, LICENSE, CONVEYANCE OR CONTRACT OF SIMILAR PROPERTY OR ASSETS;
(D) ANY RESTRICTION OR ENCUMBRANCE IMPOSED PURSUANT TO AN AGREEMENT THAT HAS
BEEN ENTERED INTO BY THE BORROWER OR ANY SUBSIDIARY FOR THE DISPOSITION OF ANY
OF ITS PROPERTY OR ASSETS SO LONG AS SUCH DISPOSITION IS OTHERWISE PERMITTED
UNDER THE LOAN DOCUMENTS; (E) ANY SUCH AGREEMENT IMPOSED IN CONNECTION WITH
CONSIGNMENT AGREEMENTS ENTERED INTO IN THE ORDINARY COURSE OF BUSINESS; (F) ANY
AGREEMENT IN EXISTENCE ON THE PETITION DATE; (G) ANY AGREEMENT IN EXISTENCE AT
THE TIME A SUBSIDIARY IS ACQUIRED SO LONG AS SUCH AGREEMENT WAS NOT ENTERED INTO
IN CONTEMPLATION OF SUCH ACQUISITION; (H) RESTRICTIONS ON CASH OR OTHER DEPOSITS
IMPOSED BY CUSTOMERS UNDER CONTRACTS ENTERED INTO IN THE ORDINARY COURSE OF
BUSINESS; AND (I) CUSTOMARY PROVISIONS RESTRICTING ASSIGNMENT OF ANY AGREEMENT
ENTERED INTO IN THE ORDINARY COURSE OF BUSINESS.
(P)
SALES AND LEASE BACKS.
EXCEPT AS SET FORTH
ON SCHEDULE 5.02(P), (I) BECOME OR REMAIN LIABLE AS LESSEE OR AS A GUARANTOR OR
OTHER SURETY WITH RESPECT TO ANY LEASE OF ANY PROPERTY, WHETHER NOW OWNED OR
HEREAFTER ACQUIRED (A) WHICH SUCH LOAN PARTY HAS SOLD OR TRANSFERRED OR IS TO
SELL OR TRANSFER TO ANY OTHER PERSON (OTHER THAN ANOTHER LOAN PARTY) OR
(B) WHICH SUCH LOAN PARTY INTENDS TO USE FOR SUBSTANTIALLY THE SAME PURPOSE AS
ANY OTHER PROPERTY WHICH HAS BEEN OR IS TO BE SOLD OR TRANSFERRED BY A LOAN
PARTY TO ANY PERSON (OTHER THAN ANOTHER LOAN PARTY) IN CONNECTION WITH SUCH
LEASE, OR (II) CREATE, INCUR, ASSUME OR SUFFER TO EXIST ANY OBLIGATIONS AS
LESSEE UNDER OPERATING LEASES OR AGREEMENTS TO LEASE HAVING AN ORIGINAL TERM OF
ONE YEAR OR MORE THAT WOULD CAUSE THE DIRECT AND CONTINGENT LIABILITIES OF THE
BORROWER AND ITS SUBSIDIARIES, ON A CONSOLIDATED BASIS, IN RESPECT OF ALL SUCH
OBLIGATIONS TO EXCEED $50,000,000 PAYABLE IN ANY PERIOD OF 12 CONSECUTIVE
MONTHS.
(Q)
SPECULATIVE TRANSACTIONS.
ENGAGE, OR PERMIT
ANY OF ITS SUBSIDIARIES TO ENGAGE, IN ANY INTEREST RATE, COMMODITY, HEDGE,
CURRENCY OR FUTURE CONTRACT OR SIMILAR SPECULATIVE TRANSACTION, EXCEPT FOR HEDGE
TRANSACTIONS FOR THE SOLE PURPOSE OF RISK MANAGEMENT OF FLUCTUATIONS IN INTEREST
RATES, EXCHANGE RATES AND COMMODITY PRICES IN THE NORMAL COURSE OF BUSINESS AND
CONSISTENT WITH INDUSTRY PRACTICE.
85
SECTION 5.03
REPORTING REQUIREMENTS. SO LONG AS ANY ADVANCE SHALL REMAIN
UNPAID, ANY LETTER OF CREDIT SHALL BE OUTSTANDING AND NOT CASH COLLATERALIZED OR
ANY LENDER PARTY SHALL HAVE ANY COMMITMENT HEREUNDER, THE BORROWER WILL FURNISH
TO THE ADMINISTRATIVE AGENT: DEFAULT NOTICE.
AS SOON AS POSSIBLE AND IN ANY
EVENT WITHIN THREE BUSINESS DAYS AFTER ANY LOAN PARTY OR ANY RESPONSIBLE OFFICER
THEREOF HAS KNOWLEDGE OF THE OCCURRENCE OF EACH DEFAULT OR WITHIN FIVE BUSINESS
DAYS AFTER ANY LOAN PARTY OR ANY RESPONSIBLE OFFICER THEREOF HAS KNOWLEDGE OF
THE OCCURRENCE OF ANY EVENT, DEVELOPMENT OR OCCURRENCE REASONABLY LIKELY TO HAVE
A MATERIAL ADVERSE EFFECT CONTINUING ON THE DATE OF SUCH STATEMENT, A STATEMENT
OF A RESPONSIBLE OFFICER