AMD 2003 Annual Report Download - page 173
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(iv) The cases where the Borrower offers any collateral for financing through securitization of assets (or so called liquidation of assets
(shisan-no-ryudoka) under the Japanese law).
(v) The cases where the Borrower offers any collateral to the Guarantor.
21. FINANCIAL RESTRICTIONS
The Borrower shall promise to comply with the following items, on and after the date of this Agreement, and until this Agreement is terminated and the
Borrower completes the performance of all of its obligations under this Agreement to each Lender and the Agent.
(i) The Borrower will ensure to keep the asset exceeding the liability in each of its stand-alone basis balance sheets as of each fiscal year-ends and
mid-year-ends (six months closing).
(ii) The Borrower will maintain the Adjusted Tangible Net Worth, determined as of the last day of each fiscal quarter, of not less than 60 billion yen.
(iii) The Borrower will maintain the total net income and depreciation as of the last day of each fiscal period set forth below of not less than the
amount set forth below opposite such fiscal period:
Period
Amount
1-3 quarter fiscal year 2003 5,760 million yen
Full fiscal year 2003 8,400 million yen
1 quarter fiscal year 2004 2,490 million yen
1-2 quarter fiscal year 2004 7,320 million yen
Full fiscal year 2004 22,920 million yen
Full fiscal year 2005 21,125 million yen
Full fiscal year 2006 19,500 million yen
(iv) The Borrower shall not permit, as of the last day of any fiscal quarter, the ratio of (a) net income plus depreciation to (b) the sum of (1) interest
expense for such period plus (2) scheduled amortization of Debt For Borrowed Money for such period including Lease rentals plus (3)
maintenance capital expenditures for Aizu Facility, to less than:
Period
Percentage
2-4 quarter fiscal year 2003 90%
1 quarter fiscal year 2004 100%
2 quarter fiscal year 2004 110%
3-4 quarter fiscal year 2004 120%
Full fiscal year 2005 120%
Full fiscal year 2006 120%
21
Source: ADVANCED MICRO DEVIC, 10-K, March 09, 2004