Debt Proceeds. The Borrower shall make mandatory principal prepayments of the Term Loans in the manner set forth in Section 4.4(b)(vii) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any incurrence of Debt (excluding Debt permitted pursuant to Section 11.1) by the Borrower or any of its Restricted Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction.
Debt Proceeds. Upon the issuance of any Debt (other than Debt permitted to be incurred pursuant to Section 5.02(b)), the Borrower shall prepay an aggregate principal amount of the Loans in an aggregate amount equal to the Net Cash Proceeds thereof. Each such prepayment of the Loans shall be applied (i) to the scheduled principal payments of the Loans in inverse order of maturity in respect of each Facility and (ii) first, to the prepayment of Term A Loans in full in Cash, including the principal amount due on the Maturity Date and second, to the prepayment of Term B Loans in full in Cash, including the principal amount due on the Maturity Date.
Debt Proceeds. (a) The Company shall ensure that, subject to Clause 7.7 (Application of prepayments), an aggregate amount equal to any Debt Proceeds is immediately applied in mandatory repayment and cancellation of the Facility in accordance with Clause 7.7 (Application of prepayments).
Debt Proceeds. The Borrower shall make mandatory principal prepayments of the Loans in the manner set forth in Section 4.4(b)(vi) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any incurrence of Debt (other than Debt permitted pursuant to Section 11.1 or otherwise permitted by the Required Lenders) by the Borrower or any of its Restricted Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction.
Debt Proceeds. The Borrowers shall make mandatory principal ------------- prepayments of the Term Loans in the manner set forth in Section 4.4(c)(vi) in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any issuance of Debt permitted by Section 11.1(c) (other than the Net Cash Proceeds from Debt issued and utilized to finance an Expanded Business Plan or issued and utilized to replace Tranche 2 Equity) by the Company, any Borrower or any of their respective Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of issuance of any such Debt.
Debt Proceeds. The Borrower shall make mandatory principal prepayments of the Loans and/or Cash Collateralize the L/C Obligations in the manner set forth in Section 4.4(b)(v) below in amounts equal to one hundred percent (100%) of:
Debt Proceeds. 100% of the net cash proceeds of issuances of debt obligations of the Borrower and its subsidiaries after the Closing Date (excluding debt permitted under the Second Lien Loan Documents, but including Refinancing Facilities). Each Second Lien Lender will have the right to reject its pro rata share of any mandatory prepayment, in which case the amounts so rejected will be retained by the Borrower (with no obligation to repay such loans in the future). The documentation governing the First Lien Notes and the ABL Credit Facility shall permit mandatory prepayments under the Second Lien Facility with Declined Amounts (as defined below) regardless of whether any First Lien Notes or loans under the ABL Credit Facility are outstanding. Notwithstanding the foregoing, upon any event triggering a mandatory prepayment, such excess cash or proceeds shall first be applied to prepay the First Lien Notes or ABL Credit Facility pursuant to any mandatory prepayment provisions of the documents governing such debt and the Intercreditor Agreements in each case as in effect on the Closing Date; provided, that if any lender under the First Lien Notes or ABL Credit Facility declines any such mandatory prepayment required pursuant to the terms of the documents governing such debt and the Intercreditor Agreements in each case as in effect on the Closing Date, or such excess cash or proceeds is otherwise not applied to prepay the First Lien Notes or ABL Credit Facility (each a “Declined Amount”), then such Declined Amount shall be applied to prepay the Second Lien Facility in accordance with the foregoing mandatory prepayments provision.
Debt Proceeds. The Borrower shall prepay the Term Loans and, if applicable, any Incremental Term Loans, in the manner set forth in Section 4.5(b)(v) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any incurrence of Debt (other than Debt permitted under Section 11.1) by the Borrower or any of its Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction.
Debt Proceeds. The Borrower shall make mandatory principal prepayments of the Term Loans in the manner set forth in Section 4.4(b)(vi) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any incurrence of Debt in excess of $500,000 in any Fiscal Year (other than Net Cash Proceeds from Debt under this Agreement and Sections 11.1(c) through 11.1(j)) by the Borrower or any of its Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction. (This provision shall not be deemed to permit the incurrence of Debt not otherwise permitted pursuant to this Agreement.)
Debt Proceeds. The Aggregate Commitment shall be automatically and permanently reduced in an amount equal to one hundred percent (100%) of the Dollar Amount of the aggregate Net Cash Proceeds received by the US Borrower or any of its Subsidiaries arising from any incurrence of Indebtedness by the US Borrower or any Subsidiary thereof that is not permitted pursuant to Section 10.1 but is otherwise consented to by Required Lenders, such reduction to occur on the third (3rd) Business Day following receipt of such Net Cash Proceeds; provided that no commitment reduction shall be required under this Section 2.6(b)(i) if (A) the Leverage Ratio (calculated on a pro forma basis as of the date of the proposed incurrence of Indebtedness and after giving effect thereto) shall be less than 3.00 to 1.00 and (B) no Default or Event of Default shall have occurred or be continuing or would result from such incurrence of Indebtedness. This provision shall not be deemed to permit any incurrence of Indebtedness by the US Borrower or any of its Subsidiaries not otherwise permitted hereunder.
