AMD 1994 Annual Report Download - page 333

provided, however, that the foregoing restrictions shall not apply to any
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distribution to, or purchase, redemption or other acquisition from, (x) the
Company by a Wholly-Owned Subsidiary, or (y) any Wholly-Owned Subsidiary by a
Wholly-Owned Subsidiary of such Subsidiary.
(b) The Company shall not prepay, redeem, defease (whether actually
or in substance) or purchase in any manner (or deposit or set aside funds or
securities for the purpose of the foregoing), or make any payment (other than
for scheduled payments of interest due on the date of payment thereof, if such
payment is permitted to be made pursuant to the terms of the documents
evidencing or governing the applicable Subordinated Debt) in respect of, or
establish any sinking fund, reserve or like set aside of funds or other property
for the redemption, retirement or repayment of, any Subordinated Debt, or
transfer any property in payment of or as security for the payment of, or
violate the subordination terms of, any Subordinated Debt, or amend, modify or
change in any manner the terms of any Subordinated Debt or any instrument,
indenture or other document evidencing, governing or affecting the terms of any
Subordinated Debt, if any such amendment, modification or change has or would
have an adverse effect on the Administrative Agent's or any Bank's rights or
remedies under any of the Loan Documents, or cause or permit any of its
Subsidiaries to do any of the foregoing; provided, however, that the Company
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may, provided that there exists both before and after giving effect thereto no
Default or Event of Default, make sinking fund payments to provide for the
redemption of the Company's 6% Convertible Subordinated Debentures Due 2012,
issued in exchange for shares of the Company's Convertible Exchangeable
Preferred Stock, in accordance with and to the extent required by Article XI of
the Indenture.
7.10 Modified Quick Ratio. The Company shall not at any time suffer or
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permit its ratio (determined on a consolidated basis) of (a) cash plus the value
(valued in accordance with GAAP) of all Cash Equivalents and 75% of all Long
Term Investments, other than Cash Equivalents or Long Term Investments subject
to a Lien securing an obligation that is not a GAAP liability, plus the amount
of Receivables, net of allowances for doubtful accounts, to (b) Consolidated
Current Liabilities of the Company and its Subsidiaries, to be less than 1.10 to
1.00.
7.11 Minimum Tangible Net Worth. The Company shall not suffer or permit
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its Consolidated Tangible Net Worth as of the end of any fiscal quarter to be
less than $1,300,000,000 plus (a) 75% of net income for the Company and its
Subsidiaries computed from the first day of the Company's third fiscal quarter
of 1994 through the end of such fiscal quarter for which the
59.
Source: ADVANCED MICRO DEVIC, 10-K, March 07, 1995