NO MORE THAN ONE
YEAR FROM THE DATE OF CREATION THEREOF AND CURRENTLY HAVING THE HIGHEST RATING
OBTAINABLE FROM EITHER STANDARD & POOR'S RATINGS GROUP OR MOODY'S INVESTORS
SERVICE, INC., (III) CERTIFICATES OF DEPOSIT MATURING NO MORE THAN ONE YEAR FROM
THE DATE OF CREATION THEREOF ISSUED BY COMMERCIAL BANKS INCORPORATED UNDER THE
LAWS OF THE UNITED STATES OF AMERICA, EACH HAVING COMBINED CAPITAL, SURPLUS AND
UNDIVIDED PROFITS OF NOT LESS THAN $300,000,000 AND HAVING A SENIOR UNSECURED
RATING OF "A" OR BETTER BY A NATIONALLY RECOGNIZED RATING AGENCY (AN "A RATED
BANK"), (IV) TIME DEPOSITS MATURING NO MORE THAN 30 DAYS FROM THE DATE OF
CREATION THEREOF WITH A RATED BANKS, (V) MUTUAL FUNDS THAT INVEST SUBSTANTIALLY
ALL THEIR ASSETS IN ONE OR MORE OF THE INVESTMENTS DESCRIBED IN CLAUSES
(I) THROUGH (IV) ABOVE, AND (VI) OTHERS APPROVED BY AGENT IN ITS REASONABLE
DISCRETION;
(D)
ANY CREDIT PARTY MAY MAKE CAPITAL
CONTRIBUTIONS TO ANY OTHER CREDIT PARTY; PROVIDED THAT THE AGGREGATE AMOUNT OF
(I) ALL CAPITAL CONTRIBUTIONS TO, INTERCOMPANY LOANS TO AND OTHER INVESTMENTS IN
MID-MISSOURI TELEPHONE SHALL NOT AT ANY TIME EXCEED $2,000,000 FOR ALL CREDIT
PARTIES COMBINED AND (II) ALL INTERCOMPANY LOANS BY MID-MISSOURI TELEPHONE SHALL
NOT AT ANY TIME EXCEED SUCH AMOUNTS PERMITTED UNDER SECTION 6.3(A)(VIII)(F);
(E)
INTERCOMPANY LOANS AND ADVANCES BY ANY
CREDIT PARTY TO ANY OTHER CREDIT PARTY TO THE EXTENT PERMITTED BY
SECTION 6.3(A)(VIII);
(F)
PERMITTED ACQUISITIONS AND INVESTMENTS OF
A PERSON EXISTING AT THE TIME SUCH PERSON BECOMES A SUBSIDIARY OF A CREDIT PARTY
IN CONNECTION WITH A PERMITTED ACQUISITION OR AT THE TIME SUCH PERSON IS MERGED
OR CONSOLIDATED WITH OR INTO A CREDIT PARTY IN CONNECTION WITH A PERMITTED
ACQUISITION, PROVIDED THAT SUCH INVESTMENTS ARE NOT MADE IN CONTEMPLATION OF
SUCH PERMITTED ACQUISITION;
(G)
INVESTMENTS CONSISTING OF DEFERRED PAYMENT
OBLIGATIONS RECEIVED AS CONSIDERATION FROM ASSET SALES EFFECTED IN ACCORDANCE
WITH THE REQUIREMENTS OF SECTION 6.8, SO LONG AS SUCH INVESTMENTS DO NOT IN THE
AGGREGATE EXCEED $250,000 AT ANY TIME FOR ALL CREDIT PARTIES COMBINED;
(H)
PREPAID EXPENSES, NEGOTIABLE INSTRUMENTS
HELD FOR COLLECTION AND LEASE, AND UTILITY AND WORKERS' COMPENSATION,
PERFORMANCE AND OTHER SIMILAR DEPOSITS, IN EACH CASE, CREATED IN THE ORDINARY
COURSE OF BUSINESS;
(I)
GUARANTEED INDEBTEDNESS PERMITTED BY
SECTION 6.6;
(J)
HEDGING OBLIGATIONS OF BORROWER REQUIRED
OR PERMITTED BY SECTION 5.10;
47
(K)
LOANS AND ADVANCES TO EMPLOYEES OF ANY
CREDIT PARTY IN THE ORDINARY COURSE OF BUSINESS, IN EACH CASE TO THE EXTENT
PERMITTED BY SECTION 6.4(B);
(L)
THE MID-MISSOURI ACQUISITION CONSUMMATED
ON THE CLOSING DATE; AND
(M)
OTHER INVESTMENTS BY THE CREDIT PARTIES NOT
EXCEEDING $1,000,000 IN THE AGGREGATE AT ANY TIME OUTSTANDING FOR ALL CREDIT
PARTIES COMBINED, PROVIDED THAT THIS SECTION 6.2(M) SHALL NOT BE APPLICABLE TO
INVESTMENTS IN MID-MISSOURI TELEPHONE.
6.3
Indebtedness.
(A)
NO CREDIT PARTY SHALL CREATE, INCUR, ASSUME
OR PERMIT TO EXIST ANY INDEBTEDNESS, EXCEPT (WITHOUT DUPLICATION):
(I)
INDEBTEDNESS SECURED BY PURCHASE MONEY
SECURITY INTERESTS AND CAPITAL LEASES PERMITTED IN SECTION 6.7(C) AND
REFINANCINGS THEREOF OR AMENDMENTS OR MODIFICATIONS THEREOF THAT