Examples of Net Equity Proceeds in a sentence
In the event that the amount of such Net Equity Proceeds exceeds the aggregate principal amount of outstanding Advances, if any, the Commitments shall be automatically and permanently reduced by the amount of such excess.
Unless and to the extent that the Majority Lenders agree otherwise, the Company shall ensure that an amount equal to all Net Equity Proceeds is paid to the Agent in prepayment of the Loans in accordance with the terms of this Agreement on or prior to the last day of the Interest Period during which such funds are received by a member of the Group.
On the date of receipt by any Credit Party or any of its Subsidiaries of any Net Equity Proceeds from any Person other than a Credit Party (it being understood that any such Net Equity Proceeds shall be deposited into a Controlled Account on the same Business Day as receipt thereof), excluding any such Net Equity Proceeds used for purposes approved in writing by Administrative Agent in its sole discretion, Company shall prepay the Loans in an aggregate amount equal to 100% of such Net Equity Proceeds.
Concurrently with the receipt by the Company of any Net Equity Proceeds, the Company shall make, or cause to be made, a mandatory prepayment of the Loans in an amount equal to the product of (i) such Net Equity Proceeds multiplied by(ii) the applicable Proceeds Reduction Percentage, to be applied as set forth in Section 3.1.2.
SOL TESTSStandards of Learning (SOL) test scores are used as part of the multiple sets of criteria for determining the advancement and retention of students.