Common use of Storage Monetization Clause in Contracts

Storage Monetization. Upon the occurrence of Monetization (A) if the Total Leverage Ratio at the time of Monetization is equal to or less than 2.45 to 1.00 after giving effect to the Transactions, then the Parent Borrower and its Restricted Subsidiaries shall receive cash (by means of a cash contribution to the common capital of the Parent Borrower and/or a repayment of debt owing to the Parent Borrower or any of its Restricted Subsidiaries by Storage Parent or any of its subsidiaries) in an amount equal to the lesser of (y) the net cash proceeds of such disposition received by Target or any of its Affiliates (other than any of its subsidiaries) and (z) the outstanding amount of Storage Investments immediately prior to such time and (B) if the Total Leverage Ratio at the time of such disposition is greater than 2.45 to 1.00, then the Parent Borrower and its Restricted Subsidiaries shall receive cash (by means of a contribution to its common capital and/or the repayment of debt owing to the Parent Borrower or any Restricted Subsidiary by Storage Parent or any of its subsidiaries) in an amount equal to the lesser of (y) the net cash proceeds of such disposition received by Target or any of its Affiliates (other than any of its subsidiaries) and (z) the outstanding amount of Storage Investments immediately prior to such time multiplied by two.

Storage Monetization. Upon the occurrence of Monetization (A) if the Total Net Leverage Ratio at the time of Monetization is equal to or less than 2.45 to 1.00 after giving effect to the Transactions, then the Parent Borrower and its Restricted Subsidiaries shall receive cash (by means of a cash contribution to the common capital of the Parent Borrower and/or a repayment of debt owing to the Parent Borrower or any of its Restricted Subsidiaries by Storage Parent or any of its subsidiaries) in an amount equal to the lesser of (y) the net cash proceeds of such disposition received by Target or any of its Affiliates (other than any of its subsidiaries) and (z) the outstanding amount of Storage Investments immediately prior to such time and (B) if the Total Net Leverage Ratio at the time of such disposition is greater than 2.45 to 1.00, then the Parent Borrower and its Restricted Subsidiaries shall receive cash (by means of a contribution to its common capital and/or the repayment of debt owing to the Parent Borrower or any Restricted Subsidiary by Storage Parent or any of its subsidiaries) in an amount equal to the lesser of (y) the net cash proceeds of such disposition received by Target or any of its Affiliates (other than any of its subsidiaries) and (z) the outstanding amount of Storage Investments immediately prior to such time multiplied by two.