Print Page  Close Window

SEC Filings

S-4
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form S-4 on 01/25/2000
Entire Document
 
<PAGE>   54

Equity Interests of the Company or any direct or indirect parent of the Company
or any Restricted Subsidiary of the Company (other than any such Equity
Interests owned by the Company or any Restricted Subsidiary of the Company); or

           (c) make any payment on or with respect to, or purchase, redeem,
defease or otherwise acquire or retire for value, any Indebtedness that is
subordinated to the Notes, except a payment of interest or principal at the
Stated Maturity thereof (all such payments and other actions set forth in
clauses (a) through (c) above being collectively referred to as "Restricted
Payments"), unless, at the time of and after giving effect to such Restricted
Payment:

                (1) no Default or Event of Default shall have occurred and be
      continuing or would occur as a consequence thereof; and

                (2) the Company would, at the time of such Restricted Payment
      and after giving pro forma effect thereto as if such Restricted Payment
      had been made at the beginning of the applicable quarter period, have been
      permitted to incur at least $1.00 of additional Indebtedness pursuant to
      the Leverage Ratio test set forth in the first paragraph of Section 4.10;
      and

                (3) such Restricted Payment, together with the aggregate amount
      of all other Restricted Payments made by the Company and each of its
      Restricted Subsidiaries after the Existing Notes Issue Date (excluding
      Restricted Payments permitted by clauses (2), (3), (4), (5), (6), (7) and
      (8) of the next succeeding paragraph), shall not exceed, at the date of
      determination, the sum of:

                      (a) an amount equal to 100% of the Consolidated EBITDA of
           the Company since the Existing Notes Issue Date to the end of the
           Company's most recently ended full fiscal quarter for which internal
           financial statements are available, taken as a single accounting
           period, less the product of 1.2 times the Consolidated Interest
           Expense of the Company since the Existing Notes Issue Date to the end
           of the Company's most recently ended full fiscal quarter for which
           internal financial statements are available, taken as a single
           accounting period, plus

                      (b) an amount equal to 100% of Capital Stock Sale Proceeds
           less any such Capital Stock Sale Proceeds used in connection with (i)
           an Investment made pursuant to clause (5) of the definition of
           "Permitted Investments" or (ii) the incurrence of Indebtedness
           pursuant to clause (10) of Section 4.10, plus

                      (c) $100 million.

           So long as no Default has occurred and is continuing or would be
caused thereby, the preceding provisions shall not prohibit:

                (1) the payment of any dividend within 60 days after the date of
      declaration thereof, if at said date of declaration such payment would
      have complied with the provisions of this Indenture;

                                       48