Issuances of Equity. Immediately upon receipt by a Credit Party of proceeds from any Equity Issuance, the Borrower shall prepay the Loans in an aggregate amount equal to one-hundred percent (100%) of the Net Cash Proceeds of such Equity Issuance to the Lenders (such prepayment to be applied as set forth in clause (ix) below).
Issuances of Equity. Immediately upon receipt by any Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall prepay the Loans and/or cash collateralize the LOC Obligations in an aggregate amount equal to fifty percent (50%) of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (vii) below).
Issuances of Equity. Promptly and in any event within five (5) days following the receipt by any Borrower of Net Cash Proceeds from any Equity Issuance occurring after the Closing Date, the Borrowers shall prepay the Loans in an aggregate amount equal to one-hundred percent (100%) of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (v) below).
Issuances of Equity. Immediately upon receipt by a Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance (other than the issuance of shares of capital stock of Holdings pursuant to the initial public offering of capital stock of Holdings), the Borrower shall forward 50% of the Net Cash Proceeds of such Equity Issuance to the Lenders as a prepayment of the Loans (to be applied as set forth in Section 3.3(c) below). Notwithstanding the
Issuances of Equity. Immediately upon receipt by a Consolidated Party of proceeds from any Equity Issuance, the Borrower shall prepay the Loans in an aggregate amount equal to 50% of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (v) below).
Issuances of Equity. Immediately upon receipt by a Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall forward 100% of the Net Cash Proceeds of such Equity Issuance to the Lenders as a prepayment of the Loans (to be applied as set forth in Section 3.3(c) below).
Issuances of Equity. Immediately upon receipt by a Credit Party or any of its Subsidiaries of cash proceeds from any Equity Issuance, the Borrower shall forward 100% of the Net Cash Proceeds of such Equity Issuance to the Lenders and Maxim Group Lenders as a prepayment of the Loans and Maxim Group Loans (to be applied as set forth in Section 3.3(c) below).
Issuances of Equity. Immediately upon receipt by any Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall prepay the Loans in an aggregate amount equal to fifty percent (50%) of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (viii) below); provided that no such prepayment shall be required if (A) the Borrower delivers an officer’s certificate to the Administrative Agent demonstrating that the Borrower’s Senior Secured Leverage Ratio is less than 1.75 to 1.0 for the quarter ended prior to such Equity Issuance or (B) to the extent the Borrower delivers to the Administrative Agent a certificate stating that the Credit Parties intend to use such Net Cash Proceeds to finance a Permitted Acquisition within 180 days of the receipt of such Net Cash Proceeds, it being expressly agreed that Net Cash Proceeds not so used to finance such Permitted Acquisition shall be applied to prepay the Loans immediately thereafter.
Issuances of Equity. Immediately upon receipt by any Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall prepay the Loans and/or cash collateralize the LOC Obligations in an aggregate amount equal to 50% of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (vii) below); provided, however, that such Net Cash Proceeds shall not be required to be so applied to the extent the Borrower delivers to the Administrative Agent a certificate stating that it intends to use such Net Cash Proceeds to finance a Permitted Acquisition within 90 days (provided that (A) if during such 90 day period any Credit Party enters into a definitive purchase agreement or binding letter of intent with respect to a Permitted Acquisition and (B) if the Leverage Ratio as of the most recent fiscal quarter ended prior to such Equity Issuance is less than 3.0 to 1.0, then within 180 days) of the receipt of such Net Cash Proceeds, it being expressly agreed that any Net Cash Proceeds not used in connection with a Permitted Acquisition within such period shall be applied to repay the Loans and/or cash collateralize the LOC Obligations immediately thereafter.
Issuances of Equity. Immediately upon receipt by a Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrowers shall forward 75% of the Net Cash Proceeds of such Equity Issuance to the Lenders as prepayment of the Loans.
