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SEC Filings

S-4/A
AVALON CABLE OF MICHIGAN INC/ filed this Form S-4/A on 07/22/1999
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  of the Indenture to be outstanding) in connection with the conduct of their
  respective businesses and not for speculative purposes;
 
     (10) the guarantee by the Issuers of Indebtedness of any of their
  Restricted Subsidiaries so long as the incurrence of such Indebtedness by
  such Restricted Subsidiary is permitted to be incurred by another provision
  of this covenant "--Incurrence of Indebtedness and Issuance of Preferred
  Stock";
 
     (11) the guarantee by any Restricted Subsidiary of Indebtedness of any
  of the Issuers so long as such guarantee by such Restricted Subsidiary
  complies with the provisions under the covenant "--Guarantees by Restricted
  Subsidiaries";
 
     (12) Indebtedness consisting of customary indemnification, adjustments
  of purchase price or similar obligations, in each case, incurred or assumed
  in connection with the acquisition of any business or assets; and
 
     (13) the incurrence by the Issuers or any of their Restricted
  Subsidiaries of additional Indebtedness in an aggregate principal amount
  (or accreted value, as applicable) at any time outstanding, including all
  Permitted Refinancing Indebtedness incurred to refund, refinance or replace
  any other Indebtedness incurred pursuant to this clause (13), not to exceed
  $15.0 million.
 
   For purposes of determining compliance with this covenant, in the event that
an item of proposed Indebtedness meets the criteria of more than one of the
categories of Permitted Debt described in clauses (1) through (13) above as of
the date of incurrence thereof or is entitled to be incurred pursuant to the
first paragraph of this covenant as of the date of incurrence thereof, the
Issuers shall, in their sole discretion, classify or reclassify such item of
Indebtedness in any manner that complies with this covenant. Accrual of
interest, the accretion of accreted value and the payment of interest in the
form of additional Indebtedness will not be deemed to be an incurrence of
Indebtedness for purposes of this covenant and the payment of dividends on
Disqualified Stock in the form of additional shares of the same class of
Disqualified Stock will not be deemed an issuance of Disqualified Stock.
 
 Liens
 
   The Issuers will not, and will not permit any of their Restricted
Subsidiaries to, create, incur, assume or otherwise cause or suffer to exist or
become effective any Lien (other than Permitted Liens) of any kind securing
Indebtedness, Attributable Debt, or trade payables upon any of their property
or assets, now owned or hereafter acquired, unless all payments due under the
Indenture and the Notes are secured on an equal and ratable basis with the
obligations so secured until such time as such obligations are no longer
secured by a Lien; provided that, with respect to any Indebtedness which by its
terms is Subordinate to the Notes, any Lien securing such Indebtedness shall be
subordinate to the Liens securing the Notes and all payments due under the
Indenture and the Notes.
 
 Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries
 
   The Issuers will not, and will not permit any of their Restricted
Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to
exist or become effective any encumbrance or restriction on the ability of any
Restricted Subsidiary to:
 
     (1)(x) pay dividends or make any other distributions to the Issuers or
  any of their Restricted Subsidiaries (1) on its Capital Stock or (2) with
  respect to any other interest or participation in, or measured by, its
  profits, or (y) pay any Indebtedness owed to the Issuers or any of their
  Restricted Subsidiaries,
 
     (2) make loans or advances to the Issuers or any of their Restricted
  Subsidiaries or
 
     (3) transfer any of its properties or assets to the Issuers or any of
  their Restricted Subsidiaries, except for such encumbrances or restrictions
  existing under or by reason of:
 
            .  Existing Indebtedness as in effect on the Issue Date,
 
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