Common use of Equity Transactions Clause in Contracts

Equity Transactions. Prepayment will be made on the Loan Obligations in an amount equal to (A) seventy-five percent (75%) of the Net Cash Proceeds from Equity Transactions occurring after the Closing Date where the Consolidated Leverage Ratio will be greater than 3.5:1.0 after giving effect thereto on a Pro Forma Basis, and (B) fifty percent (50%) of Net Cash Proceeds from Equity Transactions occurring after the Closing Date where the Consolidated Leverage Ratio will be equal to or less than 3.5:1.0 after giving effect thereto on a Pro Forma Basis. Any prepayment in respect of an Equity Transaction hereunder will be payable on the Business Day following receipt thereof.