Dish Network 2011 Annual Report Download - page 126
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DISH NETWORK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
F-32
The indenture related to the 7 3/4% Senior Notes contains restrictive covenants that, among other things, impose
limitations on the ability of DDBS and its restricted subsidiaries to:
x incur additional debt;
x pay dividends or make distribution on DDBS’ capital stock or repurchase DDBS’ capital stock;
x make certain investments;
x create liens or enter into sale and leaseback transactions;
x enter into transactions with affiliates;
x merge or consolidate with another company; and
x transfer or sell assets.
In the event of a change of control, as defined in the related indenture, we would be required to make an offer to
repurchase all or any part of a holder’s 7 3/4% Senior Notes at a purchase price equal to 101% of the aggregate principal
amount thereof, together with accrued and unpaid interest thereon, to the date of repurchase.
7 1/8% Senior Notes due 2016
The 7 1/8% Senior Notes mature February 1, 2016. Interest accrues at an annual rate of 7 1/8% and is payable semi-
annually in cash, in arrears on February 1 and August 1 of each year.
The 7 1/8% Senior Notes are redeemable, in whole or in part, at any time at a redemption price equal to 100% of the
principal amount plus a “make-whole” premium, as defined in the related indenture, together with accrued and unpaid
interest.
The 7 1/8% Senior Notes are:
x general unsecured senior obligations of DDBS;
x ranked equally in right of payment with all of DDBS’ and the guarantors’ existing and future unsecured senior
debt; and
x ranked effectively junior to our and the guarantors’ current and future secured senior indebtedness up to the
value of the collateral securing such indebtedness.
The indenture related to the 7 1/8% Senior Notes contains restrictive covenants that, among other things, impose
limitations on the ability of DDBS and its restricted subsidiaries to:
x incur additional debt;
x pay dividends or make distribution on DDBS’ capital stock or repurchase DDBS’ capital stock;
x make certain investments;
x create liens or enter into sale and leaseback transactions;
x enter into transactions with affiliates;
x merge or consolidate with another company; and
x transfer or sell assets.
In the event of a change of control, as defined in the related indenture, we would be required to make an offer to
repurchase all or any part of a holder’s 7 1/8% Senior Notes at a purchase price equal to 101% of the aggregate principal
amount thereof, together with accrued and unpaid interest thereon, to the date of repurchase.