Common use of Debt Issues Clause in Contracts

Debt Issues. Until such time as the Facility A Commitments and any Facility A Loans are repaid and cancelled in full, if the Company or any member of the Group raises any External Debt then the Company shall procure that the Net Proceeds of that External Debt are applied in reduction of Facility A on the date of receipt of such Net Proceeds as follows: (a) in cancellation of the Total Facility A Commitments (with any such cancellation reducing the Facility A Commitments of the Lenders rateably); and (b) in prepayment of a sufficient amount of the Facility A Loans to the extent necessary so that the aggregate of the Base Currency Amounts of the outstanding Facility A Loans after that prepayment is equal to or less than the reduced amount of the Total Facility A Commitments.