eTrade 2005 Annual Report Download - page 515

the acquisition) of the item of property or assets subject thereto and such Lien is created prior to, at the time of or within twelve
months after the later of the acquisition, the completion of construction or the commencement of full operation of such property, (b)the
principal amount of the Indebtedness secured by such Lien does not exceed 100% of such cost and (c)any such Lien shall not extend
to or cover any property or assets other than such item of property or assets and any improvements on such item;
(7) Liens on cash set aside at the time of the Incurrence of any Indebtedness, or government securities purchased with such cash, in
either case to the extent that such cash or government securities pre-fund the payment of interest on such Indebtedness and are held
in a collateral or escrow account or similar arrangement to be applied for such purpose;
(8) Liens incurred by the Company or a Restricted Subsidiary for the benefit of a Regulated Subsidiary in the ordinary course of
business including Liens incurred in the Broker Dealer Regulated Subsidiary’s securities business with respect to obligations that do
not exceed $200 million at any one time outstanding and that are not incurred in connection with the borrowing of money or the
obtaining of advances or credit (other than trade credit in the ordinary course of business); or
(9) Permitted Liens.
Section4.10.
Limitation on Sale-leaseback Transactions
. The Company will not, and will not permit any Restricted Subsidiary or
Regulated Subsidiary to, enter into any Sale-Leaseback Transaction involving any of its assets or properties whether now owned or
hereafter acquired.
The foregoing restriction does not apply to any Sale-Leaseback Transaction if:
(1) the lease is for a period, including renewal rights, of not in excess of three years;
(2) the lease secures or relates to industrial revenue or pollution control bonds;
(3) the transaction is solely among the Company, its Wholly Owned Restricted Subsidiaries or its Wholly Owned Regulated
Subsidiaries or any combination thereof; or
(4) the Company or such Restricted Subsidiary or Regulated Subsidiary, within 12 months after the sale or transfer of any assets or
properties is completed, applies an amount not less than the net proceeds received from such sale in accordance with clause (A)or
(B)of the third paragraph of Section4.11.
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2006. EDGAR Online, Inc.