22.09.2015 Views

Exhibit 10.2 NewPage - Executed ABL Agreement

Exhibit 10.2 NewPage - Executed ABL Agreement

Exhibit 10.2 NewPage - Executed ABL Agreement

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

(f) Permitted Acquisitions permitted pursuant to Section 6.07;<br />

(g) Investments described in Schedule 6.06;<br />

(h) Designated Hedge <strong>Agreement</strong>s which constitute Investments and “Hedge<br />

<strong>Agreement</strong>s” as defined in, and as permitted under Section 6.6(h) of, the Term Credit <strong>Agreement</strong><br />

as in effect on the Effective Date;<br />

(i) extensions of credit to customers or advances, deposits and payments to or<br />

with suppliers, lessors or utilities or for workers’ compensation, in each case, in the ordinary<br />

course of business that are recorded as accounts receivable, prepaid expenses or deposits on the<br />

balance sheet of Borrower and its Restricted Subsidiaries prepared in accordance with GAAP;<br />

(j) Investments constituting non-Cash consideration received by Borrower or<br />

any of its Restricted Subsidiaries in connection with Asset Sales and other sales and dispositions<br />

permitted under Section 6.07;<br />

(k) other Investments in an aggregate amount not to exceed at any time<br />

(i) $75,000,000 less (ii) the aggregate amount of Investments in Subsidiaries which are not<br />

wholly-owned Guarantors outstanding pursuant to Section 6.06(d); and<br />

(l)<br />

other Investments as long as the Payment Conditions are satisfied.<br />

SECTION 6.07 Fundamental Changes; Disposition of Assets; Acquisitions. No<br />

Credit Party shall, nor shall it permit any of its Subsidiaries to, enter into any transaction of<br />

merger or consolidation, or liquidate, wind-up or dissolve itself (or suffer any liquidation or<br />

dissolution), or convey, sell, lease or license, exchange, transfer or otherwise dispose of, in one<br />

transaction or a series of transactions, all or any part of its business, assets or property of any<br />

kind whatsoever, whether real, personal or mixed and whether tangible or intangible, whether<br />

now owned or hereafter acquired, leased or licensed, or acquire by purchase or otherwise (other<br />

than purchases or other acquisitions of inventory, materials and equipment and capital<br />

expenditures in the ordinary course of business) the business, property or fixed assets of, or stock<br />

or other evidence of beneficial ownership of, any Person or any division or line of business or<br />

other business unit of any Person, except:<br />

(a) (i) any Subsidiary of Borrower may be merged with or into Borrower or<br />

any Guarantor Subsidiary, or may be liquidated, wound up or dissolved, or all or any part of its<br />

business, property or assets may be conveyed, sold, leased, transferred or otherwise disposed of,<br />

in one transaction or a series of transactions, to Borrower or any Guarantor Subsidiary; provided,<br />

in the case of such a merger, Borrower or such Guarantor Subsidiary, as applicable shall be the<br />

continuing or surviving Person and (ii) any non-Guarantor Subsidiary of Borrower may be<br />

merged with or into any other non-Guarantor Subsidiary of Borrower, or be liquidated, wound up<br />

or dissolved, or all or any part of its business, property or assets may be conveyed, sold, leased,<br />

transferred or otherwise disposed of, in one transaction or a series of transactions, to any other<br />

non-Guarantor Subsidiary;<br />

(b)<br />

sales or other dispositions of assets that do not constitute Asset Sales;<br />

CH\1416587.18<br />

114

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!