AMD 1998 Annual Report Download - page 165

(i) the expiration of the Term or
(ii) no later than fifteen (15) days after the date on
which Tenant receives a rating ("Required Rating")on its publicly-traded
unsecured senior debt of Baa3 or better from Moody's, provided that at the time
of such rating Tenant has a rating from S&P of not less than BB+.
(d) Notwithstanding the foregoing, if at any time or from time
to time following the release of the Security Deposit pursuant to Subsection
(ii) of this Paragraph 37(c) (A) Tenant's publicly-traded unsecured debt rating
shall be downgraded to Ba1 or Ba2 from Moody's, and is BB or BB+ from S&P,
Tenant shall redeposit with Landlord a security deposit in the amount of Five
Million Dollars ($5,000,000) or (B) if such debt rating from Moody's shall be
less than Ba2 and from S&P shall be less than BB, Tenant shall redeposit with
Landlord Ten Million Dollars ($10,000,000) (or if the deposit described in
clause (A) has been made, Five Million Dollars $5,000,000). Any such amounts
shall be deposited within fifteen (15) days following the downgrade of Tenant's
rating and any amounts so deposited shall be considered the "Security Deposit"
for the purposes of this Lease and shall thereafter be subject to the applicable
provisions of this Lease, including this subparagraph (c).
(e) At the request of Tenant (so long as no Event of Default
exists) the Security Deposit shall be invested in:
(i) securities issued or fully guaranteed or insured by
the United States Government or any agency thereof having maturities of not more
than 12 months from the date of acquisition;
(ii) certificates of deposit, time deposits, Eurodollar
time deposits, repurchase agreements, reverse repurchase agreements, or bankers'
acceptances, having in each case a tenor of not more than 12 months, issued by
any Bank, or by any U.S. commercial bank or any branch or agency of a non-U.S.
bank licensed to conduct business in the U.S. having combined capital and
surplus of not less than $100,000,000 and whose short-term securities are rated
at least A-1 by S&P or at least P-1 by Moody's;
(iii) taxable and tax-exempt commercial paper of an
issuer rated at least A-1 by S&P or at least P-1 by Moody's and in either case
having a tenor of not more than 270 days;
(iv) medium term notes of an issuer rated at least AA by
S&P or at lease Aa2 by Moody's and having a remaining term of not more than 12
months after the date of acquisition by the Company or its Subsidiaries;
(v) municipal notes and bonds which are rated at least
SP-1 or AA by S&P or at least MIG-2 or Aa by Moody's with tenors of not more
than 12 months;
(vi) investments in taxable or tax-exempt money market
funds with assets greater than $500,000,000 and whose assets have average
maturities less than or equal to 180 days and are rated at least A-1 by S&P or
at least P-1 by Moody's;
(vii) money market preferred instruments of an issuer
rated at least A-1 by S&P or at least P-1 by Moody's with tenors of not more
than 12 months; or
(viii) such other comparable investments as may be
requested by Tenant and approved by Landlord and Lender, such approval not to be
unreasonably withheld.
37
Source: ADVANCED MICRO DEVIC, 10-K, March 29, 1999