Neiman Marcus 2008 Annual Report Download - page 324

(c) (i) any Investment by the Borrower or any Restricted Subsidiary of the Borrower in a Person that is engaged in a
Similar Business if as a result of such Investment (A) such Person becomes a Restricted Subsidiary of the Borrower or
(B) such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into, or
transfers or conveys substantially all of its assets to, or is liquidated into, the Borrower or a Restricted Subsidiary of the
Borrower, and (ii) any Investment held by such Person;
(d) any Investment in securities or other assets not constituting cash, Cash Equivalents or Investment Grade
Securities and received in connection with an Asset Sale made pursuant to Section 6.06 or any other disposition of assets not
constituting an Asset Sale;
(e) any Investment existing on the Closing Date or made pursuant to legally binding written commitments in
existence on the Closing Date;
(f) loans and advances to, and guarantees of Indebtedness of, employees not in excess of $10,000,000 outstanding at
any one time, in the aggregate;
(g) any Investment acquired by the Borrower or any Restricted Subsidiary (i) in exchange for any other Investment
or accounts receivable held by the Borrower or any such Restricted Subsidiary in connection with or as a result of a
bankruptcy, workout, reorganization or recapitalization of the Person in which such other Investment is made or which is the
obligor with respect to such accounts receivable or (ii) as a result of a foreclosure by the Borrower or any Restricted
Subsidiary with respect to any secured Investment or other transfer of title with respect to any secured Investment in default;
(h) Hedging Obligations permitted under Section 6.01(b)(xii);
(i) loans and advances to officers, directors and employees for business-related travel expenses, moving expenses
and other similar expenses, in each case incurred in the ordinary course of business or consistent with past practice or to fund
such Person's purchase of Equity Interests of the Borrower or any direct or indirect parent company thereof under
compensation plans approved by the Board of Directors of the Borrower in good faith;
(j) Investments the payment for which consists of Equity Interests of the Borrower, or any of its direct or indirect
parent companies (exclusive of Disqualified Stock); provided that such Equity Interests will not increase the amount
available for Restricted Payments under Section 6.04(a)(iii);
(k) guarantees of Indebtedness permitted under Section 6.01 and performance guarantees in the ordinary course of
business;
(l) any transaction to the extent it constitutes an investment that is permitted and made in accordance with the
provisions of Section 6.05(b) (other than any transaction set forth in clauses (ii), (vi) and (xi) of Section 6.05(b));
(m) Investments consisting of purchases and acquisitions of inventory, supplies, material or equipment or the
licensing or contribution of intellectual property pursuant to joint marketing arrangements with other Persons;
(n) Investments in a Similar Business having an aggregate fair market value, taken together with all other
Investments made pursuant to this clause (n) that are at that time
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