6.625% Notes Warrants Sale-Leaseback Financing In November 2010, we issued $225.0 million aggregate principal amount of the 6.625% Notes due on December  15, 2016. During 2014, we repurchased $18.4 million principal amount of our 6.625% Notes and recorded a $2.2  million pre-tax charge in connection with the repurchases. During 2013, we repurchased $17.4 million principal  amount of our 6.625% Notes and recorded a $2.1 million pre-tax charge in connection with the repurchases. We have the option to redeem all or a portion of the 6.625% Notes, at any time, at a price equal to 100% of the  principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date plus a “make- whole” premium. The 6.625% Notes are not otherwise callable. The 6.625% Notes are subject to certain covenants that, among other things, limit (subject to customary  exceptions) our ability and the ability of our subsidiaries to: In January 2009, pursuant to a securities purchase agreement, we issued warrants to affiliates of Carlos Slim  Helú, the beneficial owner of approximately 8% of our Class A Common Stock (excluding the warrants), to purchase  15.9 million shares of our Class A Common Stock at a price of $6.3572 per share. On January 14, 2015, the warrant  holders exercised these warrants in full and the Company received cash proceeds of approximately $101.1 million  from this exercise. The Company currently intends to use the cash proceeds to repurchase Class A shares from time to  time in open market transactions as conditions permit. In March 2009, we entered into an agreement to sell and simultaneously lease back a portion of our leasehold  condominium interest in our Company’s headquarters building located at 620 Eighth Avenue in New York City (the  “Condo Interest”). The sale price for the Condo Interest was $225.0 million. We have an option, exercisable in 2019, to  repurchase the Condo Interest for $250.0 million. The lease term is 15 years, and we have three renewal options that  could extend the term for an additional 20 years. The transaction is accounted for as a financing transaction. As such, we have continued to depreciate the Condo  Interest and account for the rental payments as interest expense. The difference between the purchase option price of  $250.0 million and the net sale proceeds of approximately $211 million, or approximately $39 million, is being  amortized over a 10-year period through interest expense. The effective interest rate on this transaction was  approximately 13%. P. 44 – THE NEW YORK TIMES COMPANY •  engage in sale-leaseback transactions. •  merge or consolidate with other companies or transfer all or substantially all of our assets; and •  make certain investments; •  create liens on certain assets to secure debt; •  agree to any restrictions on the ability of our restricted subsidiaries to make payments to us; •  pay dividends or make other equity distributions; •  incur additional indebtedness and issue preferred stock;