IN LIEU OF SECURITY DEPOSITS IN CONNECTION WITH LEASES OF THE OBLIGOR OR SUCH
SUBSIDIARY, IN EACH CASE IN THE ORDINARY COURSE OF BUSINESS;
(VII)
INDEBTEDNESS OF THE OBLIGOR OR ANY OF ITS SUBSIDIARIES INCURRED IN THE
ORDINARY COURSE OF BUSINESS IN CONNECTION WITH WORKERS' COMPENSATION CLAIMS,
SELF-INSURANCE OBLIGATIONS, UNEMPLOYMENT INSURANCE OR OTHER FORMS OF
GOVERNMENTAL INSURANCE OR BENEFITS AND PURSUANT TO LETTERS OF CREDIT OR OTHER
SECURITY ARRANGEMENTS ENTERED INTO IN CONNECTION WITH SUCH INSURANCE OR BENEFIT;
(VIII)
ACQUIRED INDEBTEDNESS OF THE OBLIGOR OR ANY OF ITS SUBSIDIARIES;
(IX)
ADDITIONAL INDEBTEDNESS OF THE OBLIGOR OR ANY OF ITS SUBSIDIARIES NOT
OTHERWISE PERMITTED UNDER SUB-PARAGRAPH (I) THROUGH (VIII) OF THIS
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DEFINITION WHICH, WHEN ADDED TO THE AGGREGATE AMOUNT OF ALL OUTSTANDING
INDEBTEDNESS OBLIGATIONS SECURED BY LIENS INCURRED BY THE OBLIGOR OR ANY OF ITS
SUBSIDIARIES PURSUANT TO PARAGRAPH ‎5.2.1(B)(XX), SHALL NOT EXCEED AT ANY TIME
OUTSTANDING 5% OF THE GROUP'S NET WORTH AT THE TIME OF INCURRENCE OF ANY NEW
INDEBTEDNESS UNDER THIS PARAGRAPH (IX).
(X)
INDEBTEDNESS ARISING FROM GUARANTEES MADE BY THE OBLIGOR OR ANY OF ITS
SUBSIDIARIES OF INDEBTEDNESS OF THE TYPE DESCRIBED IN SUB-PARAGRAPHS (I) THROUGH
(IX) OF THIS DEFINITION.
(C)
"SUBSCRIPTION AGREEMENT" MEANS THE SUBSCRIPTION AGREEMENT, DATED AS OF
OCTOBER 24, 2001, AS AMENDED AS OF NOVEMBER 20, 2001, BY AND AMONG THE PARENT
AND THE OTHER PARTIES THERETO.
6.
EVENTS OF DEFAULT AND REMEDIES
6.1
EVENTS OF DEFAULT DEFINED
With respect to the Obligor, each of the following is an "Event of Default:"
6.1.1
FAILURE BY THE OBLIGOR TO PAY ANY AMOUNT PAYABLE BY IT HEREUNDER
ON THE DATE DUE;
6.1.2
IF THE VALIDITY OR ENFORCEABILITY OF ANY SECURITY DOCUMENT TO
WHICH THE OBLIGOR IS A PARTY SHALL BE CONTESTED BY ANY PERSON;
6.1.3
IF ANY REPRESENTATION OR WARRANTY MADE BY OR ON BEHALF OF THE
OBLIGOR IN THIS AGREEMENT, IN ANY OTHER FUNDAMENTAL DOCUMENT OR IN ANY
CERTIFICATE, REPORT OR FINANCIAL OR OTHER STATEMENT FURNISHED TO THE LENDER AT
ANY TIME UNDER OR IN CONNECTION WITH THIS AGREEMENT, ANY OTHER FUNDAMENTAL
DOCUMENT OR ANY OTHER SUCH DOCUMENT OR AGREEMENT SHALL HAVE BEEN UNTRUE IN ANY
MATERIAL RESPECT WHEN MADE OR DEEMED TO HAVE BEEN MADE;
6.1.4
DEFAULT BY THE OBLIGOR IN THE OBSERVANCE OR PERFORMANCE OF ITS
COVENANTS SET FORTH IN (I) CLAUSE ‎5; OR (II) DEFAULT BY THE OBLIGOR IN THE
OBSERVANCE OR PERFORMANCE OF ITS OBLIGATION TO MAINTAIN THE VALUE OF THE
CUSTODIAL ACCOUNT MAINTAINED IN ITS NAME IN ACCORDANCE WITH CLAUSE 1 OF THE
SECURITY AGREEMENT BETWEEN IT AND THE LENDER;
6.1.5
FAILURE BY THE PARENT TO MAINTAIN A MINIMUM NET WORTH THAT IS AT
ANY TIME LESS THAN THE SUM OF: (I) $1,400,000,000; (II) THE NET CASH PROCEEDS OF
ANY COMMON OR PREFERRED EQUITY RAISED BY THE PARENT AFTER THE DATE OF THIS
AGREEMENT; AND (III) 40% (FORTY PERCENT) OF CONSOLIDATED NET INCOME FOR EACH
FINANCIAL YEAR OF THE PARENT:
(A)
IN THIS SUB-CLAUSE ‎(A) THE FOLLOWING TERM HAS THE FOLLOWING MEANING.
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(I)
"NET CASH PROCEEDS"