Minimum Return. (a) On the same date as any Minimum Return Triggering Event, the Borrower shall pay the applicable Minimum Return Premium; provided, that, in the event of any Minimum Return Triggering Event consisting solely of one or more mandatory prepayments required to be made in an amount determined based on the amount of specific cash proceeds received by the Borrower pursuant to a Prepayment Event, the total cash payment owing by the Borrower in connection therewith shall not be increased as a result of the Minimum Return Premium, and instead such cash payment obligation shall remain fixed as the amount of proceeds required to be repaid pursuant to such Prepayment Event and such proceeds shall be applied and allocated in such a manner as between a repayment of outstanding principal of the Loans and a payment of the applicable Minimum Return Premium in order to achieve that result.
Appears in 2 contracts
Sources: Subordinated Note (Prairie Operating Co.), Subordinated Note (Prairie Operating Co.)