MoneyGram 2009 Annual Report Download - page 237

(x) any Investment acquired by the Borrower or any Borrower Subsidiary:
(A) in exchange for any other Investment or accounts receivable held by the Borrower or any Borrower Subsidiary in connection with or as a result
of a bankruptcy, workout, reorganization or recapitalization of such other Investment or accounts receivable; or
(B) as a result of a foreclosure by the Borrower or any Borrower Subsidiary with respect to any secured Investment or other transfer of title with
respect to any secured Investment in default;
(xi) Investments to the extent the payment for which consists of Capital Stock (other than Disqualified Stock) of the Borrower or any direct or indirect
parent of the Borrower;
(xii) Indebtedness (including Subordinated Indebtedness) permitted under Section 6.11 or any Restricted Payment permitted under Section 6.10, in each
case to the extent it constitutes an Investment;
(xiii) any Investments received in compromise or resolution of (A) obligations of trade creditors or customers that were incurred in the ordinary course
of business of the Borrower or any Borrower Subsidiaries, including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or
insolvency of any trade creditor or customer; or (B) litigation, arbitration or other disputes with Persons who are not Affiliates;
(xiv) any Investment by the Borrower or the Borrower Subsidiaries which together with (A) the aggregate amount of all Restricted Payments made by
the Borrower and the Borrower Subsidiaries after the date hereof pursuant to Section 6.10 (excluding Restricted Payments permitted by Sections 6.10 (ii),
(iii), (iv), (v)(A), (vi), (vii), (x) and (xi)), (B) the aggregate amount of all other Investments made by the Borrower and the Borrower Subsidiaries pursuant
to this clause (xiv) after the date hereof and (C) the aggregate amount of all payments of Second Lien Indebtedness made pursuant to Section 6.17(ii)(C)
after the date hereof, is less than the Basket Amount at such time;
(xv) any Investment in securities or other assets not constituting Cash or Cash Equivalents and received in connection with an asset sale made pursuant
to Section 6.13;
(xvi) Rate Management Obligations permitted hereunder;
(xvii) receivables owing to the Borrower or any of its Subsidiaries created or acquired in the ordinary course of business and payable or dischargeable
in accordance with customary trade terms;
(xviii) Investments in the Second Lien Indebtedness to the extent not prohibited by Section 6.17(ii);
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