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SEC Filings

S-4/A
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form S-4/A on 05/12/1999
Entire Document
 
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          (2) the Company would, at the time of, and after giving effect to,
     such Restricted Investment or such designation of a Restricted Subsidiary
     as an unrestricted Subsidiary, 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 the covenant described below under the caption
     "-- Incurrence of Indebtedness and Issuance of Preferred Stock."
 
     An Unrestricted Subsidiary may be redesignated as a Restricted Subsidiary
if such redesignation would not cause a Default.
 
INCURRENCE OF INDEBTEDNESS AND ISSUANCE OF PREFERRED STOCK
 
   
     (a) The Company will not, and will not permit any of its Restricted
Subsidiaries to directly or indirectly, create, incur, issue, assume, guarantee
or otherwise become directly or indirectly liable, contingently or otherwise,
with respect to (collectively, "incur") any Indebtedness (including Acquired
Debt), and the Company will not issue any Disqualified Stock and will not permit
any of its Restricted Subsidiaries to issue any shares of preferred stock unless
the Leverage Ratio would have been not greater than 8.75 to 1.0 determined on a
pro forma basis (including a pro forma application of the net proceeds
therefrom), as if the additional Indebtedness had been incurred, or the
Disqualified Stock had been issued, as the case may be, at the beginning of the
most recently ended fiscal quarter.
    
 
     So long as no Default shall have occurred and be continuing or would be
caused thereby, the first paragraph of this covenant will not prohibit the
incurrence of any of the following items of Indebtedness (collectively,
"Permitted Debt"):
 
          (1) the incurrence by the Company and its Restricted Subsidiaries of
     Indebtedness under the Credit Facilities; provided that the aggregate
     principal amount of all Indebtedness of the Company and its Restricted
     Subsidiaries outstanding under the Credit Facilities, after giving effect
     to such incurrence, does not exceed an amount equal to $3.5 billion less
     the aggregate amount of all Net Proceeds of Asset Sales applied by the
     Company or any of its Subsidiaries in the case of an Asset Sale since the
     date of the Indentures to repay Indebtedness under the Credit Facilities,
     pursuant to the covenant described above under the caption "-- Asset
     Sales";
 
          (2) the incurrence by the Company and its Restricted Subsidiaries of
     Existing Indebtedness (other than the Credit Facilities);
 
          (3) the incurrence on the Issue Date by the Company and its Restricted
     Subsidiaries of Indebtedness represented by the Notes;
 
          (4) the incurrence by the Company or any of its Restricted
     Subsidiaries of Indebtedness represented by Capital Lease Obligations,
     mortgage financings or purchase money obligations, in each case, incurred
     for the purpose of financing all or any part of the purchase price or cost
     of construction or improvement (including, without limitation, the cost of
     design, development, construction, acquisition, transportation,
     installation, improvement, and migration) of Productive Assets of the
     Company or any of its Restricted Subsidiaries in an aggregate principal
     amount not to exceed $75 million at any time outstanding;
 
          (5) the incurrence by the Company or any of its Restricted
     Subsidiaries of Permitted Refinancing Indebtedness in exchange for, or the
     net proceeds of which are used to refund, refinance or replace, in whole or
     in part, Indebtedness (other than intercompany Indebtedness) that was
     permitted by the Indentures to be incurred under the first paragraph of
     this covenant or clauses (2) or (3) of this paragraph;
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