AMC Networks Inc. 10.500% Senior Secured Notes due 2032 10.500% Senior Notes Due 2032

cumulative Adjusted Operating Income during the period commencing on January 1, 2025 and ending on the last day of the most recent month preceding the date of the proposed Restricted Payment for which financial information is available or, if cumulative Adjusted Operating Income for such period is negative, minus the amount by which cumulative Adjusted Operating Income is less than zero, plus

the aggregate net proceeds received by the Company from the issuance or sale (other than to the Company or a Restricted Subsidiary) of its Equity Interests (other than Disqualified Equity Interests) on or after January 1, 2025, plus

(C) immediately after giving effect to such Restricted Payment, the aggregate of all Restricted Payments that have been made since the Issue Date in reliance on this paragraph, would exceed the sum of (i) $400.0 million plus (ii) the net proceeds from any sale or issuance of Equity Interests by the Company to any Person (other than the Company or any of its Restricted Subsidiaries)

The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly, incur any Indebtedness, other than Indebtedness between or among any of the Company and its Restricted Subsidiaries, unless, after giving effect thereto, the Fixed Charge Coverage Ratio as of the date of such incurrence is greater than or equal to 2.0 to 1.0 on a Pro Forma Basis

(17) Guarantees by the Company and the Restricted Subsidiaries of obligations of the Company and its Restricted Subsidiaries and joint ventures arising under purchase or other acquisition agreements in respect of acquisitions or other Investments otherwise constituting Permitted Investments; provided that the aggregate principal amount of all such Guarantees pursuant to this clause (17) following the issuance of the Notes does not exceed, including all Permitted Refinancing Indebtedness in respect thereof, $20.0 million in the aggregate at any time outstanding (plus, in the case of Permitted Refinancing Indebtedness, any Additional Refinancing Amount).

so long as the aggregate principal amount of all such Indebtedness outstanding at any one time pursuant to this clause (19) shall not exceed $250,000,000 (plus, in the case of Permitted Refinancing Indebtedness, any Additional Refinancing Amount)

provided that Indebtedness incurred by Non-Guarantor Subsidiaries pursuant to this paragraph shall not exceed (together with any Indebtedness of Restricted Subsidiaries that are not Guarantors incurred pursuant to Section 4.09(b)(20) of the following paragraph) $250.0 million (plus, in the case of Permitted Refinancing Indebtedness, any Additional Refinancing Amount) (the “Non-Guarantor Sublimit”).

(21) Indebtedness in an aggregate principal amount, including all Permitted Refinancing Indebtedness in respect thereof, at any time outstanding not to exceed $500.0 million (plus, in the case of Permitted Refinancing Indebtedness, any Additional Refinancing Amount)

(24) any Guarantee by the Company or a Restricted Subsidiary of the obligations or Indebtedness of any Unrestricted Subsidiary, Restricted Subsidiary that is not a Guarantor, or joint venture; provided that the aggregate amount of all such Guarantees, when combined with the aggregate amount of Investments in Unrestricted Subsidiaries and joint ventures made pursuant to clause (18) of the definition of “Permitted Investments” does not exceed $250,000,000 at any time outstanding

(4) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness represented by Finance Lease Obligations, mortgage financings or purchase money obligations, in each case, incurred for the purpose of financing all or any part of the purchase price or cost of construction or improvement of property, plant or equipment used in the business of the Company or such Restricted Subsidiary for fixed or capital assets, in an aggregate principal amount, including all Permitted Refinancing Indebtedness in respect thereof, not to exceed $100.0 million at any time outstanding (plus, in the case of Permitted Refinancing Indebtedness, any Additional Refinancing Amount)

(38) additional Liens with respect to obligations, taken together with all other obligations with respect to which Liens have been granted pursuant to this clause (38), that do not exceed at any one time outstanding the greater of (i) $75.0 million and (ii) 12.5% of Adjusted Operating Income as of the date of such Lien is granted determined on a Pro Forma Basis; and

provided, however, that the aggregate Restricted Payments made under this clause (7) do not exceed in any calendar year the sum of (A) $1.5 million (with unused amounts in any calendar year being carried over to succeeding calendar years subject to a maximum (without giving effect to sub-clause (B) of this clause (7)) of $10.0 million in any calendar year)

(8) any Restricted Payment so long as immediately after the making of such Restricted Payment, the Cash Flow Ratio does not exceed 3.00:1.00 on a Pro Forma Basis;