AMD 1999 Annual Report Download - page 72

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"7.16 Minimum Tangible Net Worth. The Company shall not suffer or
--------------------------
permit its Consolidated Tangible Net Worth as of the end of any fiscal
quarter to be less than 90% of the Company's Consolidated Tangible Net
Worth at the end of the first fiscal quarter of 1999 plus (i) (without
----
duplication for amounts included under clause (iv) below) 85% of net income
for the Company and its Restricted Subsidiaries computed from the first day
of the Company's second fiscal quarter of 1999 through the end of such
fiscal quarter for which the determination is being made, determined
quarterly on a Consolidated basis and not reduced by any quarterly loss,
plus (ii) 100% of the Net Issuance Proceeds of any sale of capital stock of
----
the Company by or for the account of the Company occurring on or after the
first day of the Company's second fiscal quarter of 1999, plus (iii) any
----
increase in stockholders' equity of the Company resulting from the
conversion of debt securities of the Company to equity securities of the
Company on or after the first day of the Company's second fiscal quarter of
1999, plus (iv) 100% of the Net Issuance Proceeds (net of Taxes payable in
----
respect thereof) of any sale of capital stock of the Vantis Subsidiary by
or for the account of the Company occurring on or after the first day of
the Company's second fiscal quarter of 1999."
(vii) Section 7.17 of the Credit Agreement is hereby
amended and restated in its entirety as follows:
"7.17 Leverage Ratio. The Company shall not as of the end of any
--------------
fiscal quarter suffer or permit its Leverage Ratio to be greater than (i)
1.05 to 1.00 at the end of any fiscal quarter ending in 1999, (ii) 1.00 to
1.00 at the end of the first fiscal quarter of 2000, and (iii) 0.90 to 1.00
at the end of the second fiscal quarter of 2000 and thereafter."
(viii) Section 7.19 is hereby amended and restated in its
entirety as follows:
"7.19 Profitability. The Company shall not suffer or permit (a) a net
-------------
loss of greater than $150,000,000 for the first fiscal quarter of 1999, (b)
a net loss of greater than $45,000,000 for the second fiscal quarter of
1999, and (c) net income to be less than $1.00 for the third fiscal quarter
of 1999 and for each fiscal quarter thereafter, in each case determined for
the Company on a Consolidated basis."
(ix) A new Section 7.20 is hereby added to the Credit
Agreement as follows:
"7.20 Minimum Cash and Cash Equivalents. The Company shall not at any
---------------------------------
time suffer or permit the value of its (a) cash plus the value (valued in
----
accordance with GAAP) of all Cash Equivalents, other than cash and Cash
Equivalents subject to a Lien securing Indebtedness, minus (b) the
-----
aggregate principal amount of all Revolving Loans outstanding at such time,
to be less than $200,000,000, determined for the Company on a Consolidated
basis."
(b) References Within Credit Agreement. Each reference in the
----------------------------------
Credit Agreement to "this Agreement" and the words "hereof," "herein,"
"hereunder," or words of like import, shall mean and be a reference to the
Credit Agreement as amended by this Amendment.
3
Source: ADVANCED MICRO DEVIC, 10-K405, March 21, 2000