Extract to table

C&H recommends that the definitive Note Purchase Agreement clarify that: (a) the Company's election to pay PIK in cash may be made on a quarter-by-quarter basis at the Company's sole discretion, (b) an election to pay in cash in any particular quarter shall not constitute a permanent waiver of the Company's right to elect PIK treatment in subsequent quarters, and (c) the Company shall provide the lender with at least ten (10) business days' prior written notice of its election for each quarter

The equity cure right should be subject to the following limitations: (i) no more than two (2) equity cures in any four (4)-consecutive-quarter testing period, (ii) the equity cure amount would be deemed added to EBITDA for purposes of recalculating the FCCR for the relevant quarter only, and (iii) the equity cure must be funded within fifteen (15) business days of the delivery of the compliance certificate for the relevant quarter

CONDITIONS PRECEDENT TO CLOSING (AS IDENTIFIED IN TERM SHEET) The Term Sheet identifies the following conditions precedent to the funding of the Mezzanine Note, all of which must be satisfied or waived (as applicable) at or prior to closing: 1