Prepayments and Reductions Due to Issuance of Equity Securities. On the date of receipt of the Net Securities Proceeds from the issuance of any Capital Stock of Company or of any Subsidiary of Company after the Closing Date, Company shall prepay the Loans and/or the Revolving Loan Commitment Amount shall be permanently reduced in an aggregate amount equal to such Net Securities Proceeds.
Prepayments and Reductions Due to Issuance of Equity Securities. On or prior to the first Business Day after receipt by Company or any of its Subsidiaries of any Equity Proceeds, Company shall prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) in an amount equal to such Equity Proceeds; provided that such Equity Proceeds shall not be applied to prepay Loans pursuant to this subsection if (1) such Equity Proceeds were not derived from a public offering of Securities and (2) such Equity Proceeds (y) are, upon receipt, designated for reinvestment in the businesses of Company and its Subsidiaries and (z) are within 30 days of receipt thereof by Company or any of its Subsidiaries, reinvested in the businesses of Company and its Subsidiaries.
Prepayments and Reductions Due to Issuance of Equity Securities. Not later than the third Business Day following the date of receipt of the Net Securities Proceeds from the issuance of any Capital Stock of Company or of Holdings or of any Domestic Subsidiary of Company, Company shall prepay the Loans and/or the Revolving Loan Commitment Amount shall be permanently reduced in an aggregate amount equal to 50% of such Net Securities Proceeds (other than Net Securities Proceeds resulting from the issuance of Capital Stock of Holdings (i) to (or a capital contribution by) LGP or any Permitted Transferee or (ii) pursuant to employee and executive compensation plans); provided, that no prepayment shall be required hereunder with respect to the receipt of any Net Securities Proceeds described in this subsection 2.4B(iii)(c) to the extent that the Consolidated Leverage Ratio as of the last day of the Fiscal Quarter immediately preceding the date on which such Net Securities Proceeds are received is less than 3.50:1.00.
Prepayments and Reductions Due to Issuance of Equity Securities. On the date of receipt of the Net Securities Proceeds from the issuance of any Capital Stock of Borrower or of any Subsidiary of Borrower or from any capital contribution to Borrower by any holder of Capital Stock thereof after the Closing Date (other than, provided that no Potential Event of Default or Event of Default shall have occurred and be continuing at such time, proceeds from the issuance of Capital Stock or from capital contributions to pay for acquisitions permitted pursuant to subsection 7.7 ), Borrower shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 25% of such Net Securities Proceeds.
Prepayments and Reductions Due to Issuance of Equity Securities. No later than the first Business Day following receipt of the Net Securities Proceeds from the issuance of any Capital Stock of Company or of any Subsidiary of Company (other than to Company or a Subsidiary Guarantor) or from any capital contribution to Company by Holdings after the Closing Date, Company shall prepay the Loans in an aggregate amount equal to such Net Securities Proceeds.
Prepayments and Reductions Due to Issuance of Equity Securities. No later than the first Business Day following the date of receipt by New Holdings or Company of the Cash proceeds (any such proceeds, net of underwriting discounts and commissions and other reasonable costs associated therewith, including reasonable legal fees and expenses, being the "NET EQUITY PROCEEDS") from the issuance of any equity Securities of New Holdings or Company (other than proceeds from New Holdings Common Stock issued to officers and employees of Company and its Subsidiaries pursuant to option plans or other similar plans or agreements adopted by New Holdings' Board of Directors), (1) Company shall prepay its Loans and/or Company's Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 100% of such Net Equity Proceeds, and (2) to the extent that any such Net Equity Proceeds remain after the applications required pursuant to the foregoing clause (1), Company shall cause such remaining Net Equity Proceeds to be applied to prepay the remaining outstanding Loans of all other Borrowers and/or the Revolving Loan Commitments of all other Borrowers shall be permanently reduced, in each case on a pro rata basis (in accordance with the respective outstanding amount of Revolving Loan Commitments). In the case of the receipt by New Holdings of such Net Equity Proceeds from the issuance of any equity Securities of New Holdings, Company shall cause New Holdings to immediately contribute such Net Equity Proceeds to Company and Company shall apply such Net Equity Proceeds pursuant to this subsection 2.4B(iii)(d) as though initially received by Company from the issuance of its own equity Securities; provided, however, that the Net Equity Proceeds from the Stonington Equity Contribution shall be excluded from the provisions of this subsection 2.4B(iii)(d).
Prepayments and Reductions Due to Issuance of Equity Securities. No later than the first Business Day following the date of receipt by Holdings or Company of the Cash proceeds (any such proceeds, net of underwriting discounts and commissions and other reasonable costs associated therewith, including reasonable legal fees and expenses, being the "NET EQUITY PROCEEDS") from the issuance of any equity Securities of Holdings or Company (other than proceeds from Holdings Common Stock issued to officers and employees of Company and its Subsidiaries pursuant to option plans or other similar plans or agreements adopted by Holdings' Board of Directors), (1) Company shall prepay its Loans and/or Company's Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 75% of such Net Equity Proceeds, and (2) to the extent that any such Net Equity Proceeds remain after the applications required pursuant to the foregoing clause (1), Company shall cause such remaining Net Equity Proceeds to be applied to prepay the remaining outstanding Loans of all other Borrowers and/or the Revolving Loan Commitments of all other Borrowers shall be permanently reduced, in each case on a pro rata basis (in accordance with the respective outstanding amount of Revolving Loan Commitments). In the case of the receipt by Holdings of such Net Equity Proceeds from the issuance of any equity Securities of Holdings, Company shall cause Holdings to immediately contribute such Net Equity Proceeds to Company and Company shall apply such Net Equity Proceeds pursuant to this subsection 2.4A(iii)(d) as though initially received by Company from the issuance of its own equity Securities.
Prepayments and Reductions Due to Issuance of Equity Securities. No later than the fifth Business Day following the date of receipt of the Net Securities Proceeds from the issuance of any Capital Stock of Holdings, Company or any Domestic Subsidiary of Company after the Closing Date (excluding the issuance of any such Capital Stock to United Online or its Subsidiaries or to any Loan Party or to management, directors or employees of Company or Holdings or any capital contributions to Company, Holdings or Subsidiaries of Company by any holder of Capital Stock thereof after the Closing Date), Company shall prepay the Loans and/or the Revolving Loan Commitment Amount shall be permanently reduced in an aggregate amount equal to 50% of such Net Securities Proceeds.
Prepayments and Reductions Due to Issuance of Equity Securities. Subsection 2.4A(iii)(d) of the Credit Agreement is hereby amended by deleting the "." at the end of the first sentence contained therein and substituting the following therefor: "; PROVIDED, HOWEVER, that the Net Equity Proceeds from the equity contribution made to Company by Stonington Equity Sub pursuant to subsection 6.12(i) shall be excluded from the provisions of this subsection 2.4A(iii)(d)."
Prepayments and Reductions Due to Issuance of Equity Securities. At any time the Leverage Ratio is greater than 3.25:1.00, on or prior to the first Business Day after receipt by Company or any of its Subsidiaries of any Equity Proceeds after the Effective Date, Company shall prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) in an amount equal to 50% of such Equity Proceeds; provided, however, that such Equity -------- ------- Proceeds shall not be applied to prepay Loans pursuant to this subsection if and to the extent such Equity Proceeds were derived (x) directly or indirectly from a sale of Securities to employees or directors of Company and its Subsidiaries pursuant to any employee stock option or stock purchase plan or other employee benefit plan, and (y) from sales of Securities to management officers and directors after July 1, 1998 to the extent the consideration paid therefor does not exceed $5,000,000.
