Common use of Equity Clawback Clause in Contracts

Equity Clawback. Notwithstanding Section 2.1(d), Borrowers shall be permitted to prepay up to 2550% of the aggregate principal amount of the outstanding Term Loans with Net Cash Proceeds of any public offering of Equity Interests at a prepayment premium equal to 12.05.0% of the principal amount being prepaid (the “Equity Claw Premium”).

Appears in 1 contract

Sources: Term Loan Credit and Security Agreement (Quantum Corp /De/)

Equity Clawback. Notwithstanding Section 2.1(d), Borrowers shall be permitted to prepay up to 255025% of the aggregate principal amount of the outstanding Term Loans with Net Cash Proceeds of any public offering of Equity Interests at a prepayment premium equal to 12.05.012.0% of the principal amount being prepaid (the “Equity Claw Premium”).

Appears in 1 contract

Sources: Term Loan Credit and Security Agreement (Quantum Corp /De/)