Kodak 2011 Annual Report Download - page 236

Financial Covenants
. So long as any Loan or any other payment obligation of any Loan Party of which the Company has knowledge under any Loan
Document shall remain unpaid, any Letter of Credit is outstanding or any Lender shall have any Commitment hereunder:
(q) Minimum Consolidated Adjusted EBITDA . Permit Consolidated Adjusted EBITDA of the Company and its Subsidiaries for any
period set forth in the table below to be less than the amount set forth opposite such period:
(r) Minimum US Liquidity . Permit, as of the close of business on any day, US Liquidity to be less than (x) for any day prior to the
Final Order Entry Date (or, if later, the date on which the second Borrowing of Term Loans hereunder occurs), $125,000,000, (y) for any day during the
period commencing on the Final Order Entry Date (or, if later, the date on which the second Borrowing of Term Loans hereunder occurs) and ending on
March 31, 2012, $250,000,000, (y) for any day during the period commencing on April 1, 2012 and ending September 30, 2012, $150,000,000 and (z) for
any day after September 30, 2012, $100,000,000; provided , that on and after the Term Facility Termination Date, the compliance level shall be increased
(but in no case to an amount greater than $250,000,000) by adding to the otherwise applicable level an amount equal to 50% of the aggregate Net Cash
Proceeds of Asset Sales received subsequent to the Term Facility Termination Date and on or prior to the date of determination. Net Cash Proceeds for this
purpose shall be determined without regard to any reinvestment rights.
ARTICLE VI
EVENTS OF DEFAULT
SECTION 6.01. Events of Default . If any of the following events (“ Events of Default ”) shall occur and be continuing:
Period Minimum
Consolidated Adjusted EBITDA
February 1, 2012 to April 30, 2012
$(105,000,000)
February 1, 2012 to May 31, 2012
$(130,000,000)
February 1, 2012 to June 30, 2012
$(115,000,000)
February 1, 2012 to July 31, 2012
$(110,000,000)
February 1, 2012 to August 31, 2012
$(110,000,000)
February 1, 2012 to September 30, 2012
$(85,000,000)
February 1, 2012 to October 31, 2012
$(55,000,000)
February 1, 2012 to November 30, 2012
$(10,000,000)
February 1, 2012 to December 31, 2012
$(5,000,000)
February 1, 2012 to January 31, 2013
$(5,000,000)
March 1, 2012 to February 28, 2013
$40,000,000
April 1, 2012 to March 31, 2013
$85,000,000
May 1, 2012 to April 30, 2013
$115,000,000
June 1, 2012 to May 31, 2013
$145,000,000
July 1, 2012 to June 30, 2013
$175,000,000
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