Common use of Equity Offerings Clause in Contracts

Equity Offerings. M▇▇▇▇▇ shall make, or shall cause each applicable Subsidiary to make, a prepayment from the Net Proceeds of any Equity Offering which constitutes "Permitted Refinancing Stock" as defined in the Senior Credit Agreement in an amount equal to 100% of such Net Proceeds. Each such prepayment shall be made within five (5) Business Days of receipt of such Net Proceeds and upon not less than three (3) Business Days’ written notice to the Agent, and shall include within one (1) Business Day of repayment a certificate of an Authorized Representative setting forth in reasonable detail the calculations utilized in computing the amount of the Net Proceeds.

Equity Offerings. M▇▇▇▇▇ The Borrowers shall make, or shall cause each applicable Restricted Subsidiary to make, a prepayment of the Term Loans from the Net Proceeds of any Equity Offering which constitutes "Permitted Refinancing Stock" as defined in the Senior Credit Agreement in an amount equal to 100% fifty percent (50%) of such Net Proceeds. Each such prepayment shall be made within five fifteen (515) Business Days of receipt of such Net Proceeds and upon not less than three (3) Business Days’ Business' Days written notice to the Administrative Agent, and shall include within one (1) Business Day of repayment a certificate of an Authorized Representative setting forth in reasonable detail the calculations utilized in computing the amount of the Net Proceeds.