AEI Holding Company Inc. Announces the Receipt of the Requisite Consents to the Proposed Amendments and the Execution of the Supplemental Indenture.NEW YORK--(BUSINESS WIRE)--Nov. 23, 1998--AEI Holding Company Inc. ("AEI AEI American Enterprise Institute AEI Archive of European Integration AEI Australian Education International AEI Automotive Engineering International AEI Australian Education Index AEI Albert Einstein Institute Holding") announced today (the "Consent Achievement Date") that it has received the requisite consents to effect certain amendments ("Proposed Amendments") deleting substantially all of the restrictive covenants Restrictive covenants Provisions that place constraints on the operations of borrowers, such as restrictions on working capital, fixed assets, future borrowing, and payment of dividends. from the indenture An agreement declaring the benefits and obligations of two or more parties, often applicable in the context of Bankruptcy and bond trading. The term indenture primarily describes secured contracts and has several applications in U.S. law. governing the 10 percent Senior Notes due Nov. 15, 2007 ("Old Notes"). Holders of the Old Notes have until Nov. 24, 1998 to tender their notes and receive $25.00 per $1,000 in principal amount of Old Notes (the "Consent Payment"). AEI Holding also announced today that it executed, in conjunction with IBJ IBJ Industrial Bank of Japan, Ltd. IBJ Illinois Business Journal IBJ International Brotherhood of Jones Schroder Bank and Trust Company, the supplemental indenture effecting the Proposed Amendments. The execution of the supplemental indenture prohibits revocation The recall of some power or authority that has been granted. Revocation by the act of a party is intentional and voluntary, such as when a person cancels a Power of Attorney that he has given or a will that he has written. of consents to the Proposed Amendments. Questions, requests for assistance and requests for copies of the supplemental indenture should be directed to MacKenzie Partners Inc., the information agent, at 212/929-5500 or 800/322-2885. |
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