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This excerpt taken from the LUX 20-F filed Jun 28, 2006. Finance Subsidiary” means any
member of the Group (other than an Obligor or a Material Subsidiary) whose sole
or primary business is that of raising or incurring Financial Indebtedness for
and on behalf of the Group to the extent such Financial Indebtedness so
incurred or raised is not less than 10% of the Consolidated Total Net Debt in the
aggregate at any time.
(f) No Event of Default will occur under this Clause 23.5 if (i) the aggregate amount of Financial Indebtedness or commitment for Financial Indebtedness falling within paragraphs (a) to (d) above is less than €25,000,000 (or its equivalent in any other currency or currencies) or (ii) if the action or entitlement referred to in paragraphs (a) to (d) above arises as a result of the change in control of (A) the Target occurring as a result of the Acquisition or (B) any other entity acquired by any member of the Group, provided that with respect to paragraphs (a) and (b) above, the failure to pay any Financial Indebtedness, subject always to (i) of this sub-paragraph (f) above, by any of Target, such relevant entity or any of their respective Subsidiaries at any time following the relevant acquisition, and within five Business Days after the giving of any demand or notice for payment by any relevant creditor, shall constitute an Event of Default. |
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