Best Buy 2003 Annual Report Download - page 62

by:
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12.1.2.5.2 capital expenditures incurred by the Borrower, plus
12.1.2.5.3 building, property, rental and lease expenses of the Borrower, plus
12.1.2.5.4 principal repayment obligations (excluding repayment of the Term Loan), plus
12.1.2.5.5 cash interest expense, including inter−company debt
such minimum cash flow ratio to be calculated quarterly on a trailing 12 month basis based upon the Borrower’s quarterly unaudited
financial statements;
12.1.2.6 consolidate, amalgamate or merge with any other Person, enter into any corporate reorganization or other
transaction intended to effect or otherwise permit a material change in its existing organizational documents, liquidate,
wind−up or dissolve itself; or
12.1.2.7 make any Investments in joint ventures, partnerships, Subsidiaries or other business ventures, unless such
joint venture, partnership, Subsidiary or other business venture is engaged in activities substantially similar or
complementary to the business activities of the Borrower as at the date hereof.
12.1.3 The Consolidated Net Worth (of Best Buy Co.) shall not at any time be less than US
$2,000,000,000 minus the aggregate amount (not to exceed US $1,000,000,000) paid by Best Buy Co. in
cash after the date of execution and delivery of the U.S. Credit Agreement to repurchase shares in Best
Buy Co.’s common stock pursuant to Best Buy Co.’s stock repurchase programs;
12.1.4 The Cash Flow Leverage Ratio (of Best Buy Co.) shall not (a) at the end of any fiscal year of the
Best Buy Co. exceed 3.00 to 1.00 and (b) at the end of each fiscal quarter of Best Buy Co. (other than the
last fiscal quarter) during any such fiscal year exceed 3.25 to 1.00;
12.1.5 The Interest Coverage Ratio (of Best Buy Co.), as at the end of any fiscal quarter for the
Measurement Period ending on that date, shall not be less than 3.00 to 1.00;
12.1.6 No Change of Control shall occur;
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