LPX » Topics » Permitted Acquisition

This excerpt taken from the LPX 10-K filed Mar 11, 2005.
Permitted Acquisition” means an acquisition or any series of related acquisitions by a Credit Party of the assets or all of the Capital Stock of a Person that is incorporated, formed or organized in the United States or any division, line of business or other business unit of a Person that is incorporated, formed or organized in the United States (such Person or such division, line of business or other business unit of such Person referred to herein as the “Target”), in each case that is in the same line of business (or assets used in the same line of business) as the Credit Parties and their Subsidiaries, so long as (a) no Default or Event of Default shall then exist or would exist after giving effect thereto, (b) if applicable, the Credit Parties shall have complied with the documentation requirements for a Permitted Acquisition as set forth in Section 6.2(j), (c) the Credit Parties shall demonstrate to the reasonable satisfaction of Royal that the Credit Parties will be in compliance on a pro forma basis with all of the terms and provisions of the financial covenants set forth in Sections 6.2 (nn) and (oo), (d) the

 

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Target, if a Person, shall have executed a Joinder Agreement in accordance with the terms of Section 6.2(w), and (e) such acquisition has been approved by the Board of Directors and/or shareholders of the applicable Credit Party;

 

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