Mandatory prepayment — Specified Refinancing Clause Samples

Mandatory prepayment — Specified Refinancing. (a) The Borrower shall notify the Agent as soon as reasonably practicable if it enters into any principal transaction document in respect of a Specified Refinancing and in any case no later than 30 days before it completes a Specified Refinancing. (b) Subject to the provisions of the Borrower STID, the Net Proceeds of any Specified Refinancing shall be used in or towards prepayment of the Term Facility. (c) On receipt of such notification, subject to the provisions of the Borrower STID, the Agent shall, by notice to the Borrower: (i) cancel an amount of the Total Term Facility Commitment equal to the amount of such Net Proceeds with effect from the due date of the prepayment or, if no amount is outstanding under this Agreement at such time, the date on which the prepayment would have occurred if amounts had been outstanding under this Agreement at such time; and (ii) declare an amount of the outstanding Loans equal to the amount of such Net Proceeds together with accrued interest thereon and all other amounts owing in connection with that sum under the Facility Documents to be payable, and the Borrower shall repay such amounts within 10 days of receipt of the relevant Net Proceeds. (d) For these purposes, “Specified Refinancing” means the issuance by the Borrower in the domestic or international capital markets of any equity or other equity linked instruments or any bonds, notes, debentures, loan stock or similar debt instruments and “Net