MoneyGram 2009 Annual Report Download - page 441

Investment that replaces, refinances or refunds any such Investment; provided that such replacing, refinancing or refunding Investment is in an amount that
does not exceed the amount replaced, refinanced or refunded, and is made in the same Person as the Investment replaced, refinanced or refunded;
(9) loans and advances to employees, directors, managers or consultants of Hoidco, the Company or any of the Company Subsidiaries for reasonable
and customary business related travel expenses, moving expenses and similar expenses, in each case incurred in the ordinary course of business whether or
not consistent with past practice, and payroll advances;
(10) any Investment acquired by the Company or any Company Subsidiary
(a) in exchange for any other Investment or accounts receivable held by the Company or any Company 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 Company or any Company Subsidiary with respect to any secured Investment or other transfer of title with
respect to any secured Investment in default;
(11) Hedging Obligations permitted under Section 4.09(b)(11) hereof;
(12) Investments to the extent the payment for which consists of Equity Interests of the Company or any of its direct or indirect parent (exclusive of
Disqualified Stock); provided, however, that such Equity Interests will not increase the amount available for Restricted Payments under Section 4.07
hereof;
(13) any Investments in or repurchases of the Notes;
(14) receivables owing to the Company or any Company Subsidiary created or acquired in the ordinary course of business and payable or dischargeable
in accordance with customary trade terms;
(15) Indebtedness permitted under Section 4.09 to the extent it constitutes an Investment;
(16) 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 Company or any Company 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;
(17) upfront payments, signing bonuses and similar payments paid to agents and guaranties of agent commissions, in each case in the ordinary course of
business and consistent with past practice; and
(18) additional Investments having an aggregate fair market value, taken together with all other Investments made pursuant to this clause (18) that are at
that time outstanding, not to exceed $25.0 million (with the fair market value of each Investment being measured at the time made and without giving
effect to subsequent changes in value).
"Permitted Liens" means, with respect to any Person: 21