(2) transactions between or among the Company and/or its Restricted
Subsidiaries and the transactions between or among the Guarantor and/or
its Restricted Subsidiaries;
(3) payment of reasonable directors fees to Persons who are not
otherwise Affiliates of the Company or the Guarantor, as the case may be,
and customary indemnification and insurance arrangements in favor of
directors, regardless of affiliation with the Company, the Guarantor or
any of their Restricted Subsidiaries;
(4) payment of management fees pursuant to management agreements
either (A) existing on the Issue Date or (B) entered into after the Issue
Date, to the extent that such management agreements provide for percentage
fees no higher than the percentage fees existing under the management
agreements existing on the Issue Date;
(5) Restricted Payments that are permitted by Section 4.07; and
(6) Permitted Investments.
Section 4.14. Liens.
The Company and the Guarantor shall not, directly or indirectly,
create, incur, assume or suffer to exist any Lien of any kind securing
Indebtedness, Attributable Debt or trade payables on any asset now owned or
hereafter acquired, except Permitted Liens.
Section 4.15. Corporate Existence.
Subject to Article 5, each of the Company and the Guarantor shall do
or cause to be done all things necessary to preserve and keep in full force and
effect (i) its corporate existence, and the corporate, partnership or other
existence of each of its Subsidiaries, in accordance with the respective
organizational documents (as the same may be amended from time to time) of the
Company, the Guarantor or any such Subsidiary and (ii) the rights (charter and
statutory), licenses and franchises of the Company, the Guarantor and their
Subsidiaries; provided, however, that neither the Company nor the Guarantor
shall be required to preserve any such right, license or franchise, or the
corporate, partnership or other existence of any of their Subsidiaries (other
than Charter Capital), if the Board of Directors shall determine that the
preservation thereof is no longer desirable in the conduct of the business of
the Company and its Subsidiaries and the Guarantor and its Subsidiaries, taken
as a whole, and that the loss thereof is not adverse in any material respect to
the Holders of the Notes.
Section 4.16. Repurchase at the Option of Holders upon a Change of Control.
If a Change of Control occurs, each Holder of Notes shall have the
right to require the Issuers to repurchase all or any part (equal to $1,000
principal amount at maturity or an integral multiple thereof) of that Holder's
Notes pursuant to a Change of Control Offer. In the Change of Control Offer, the
Issuers shall offer (a "Change of Control Offer") a payment (the "Change of
Control Payment") in cash equal to 101% of the Accreted Value plus, for any
Change of Control Offer occurring after the Full Accretion Date, accrued and
unpaid interest thereon, if any, to the date of purchase.