Debt/Equity Proceeds definition
Examples of Debt/Equity Proceeds in a sentence
No Company will issue any additional shares of capital stock or other equity securities, any options therefor or any securities convertible thereto, unless no Default exists or would result therefrom and the Debt/Equity Proceeds Payment with respect thereto is made, if and to the extent required, pursuant to Section 2.7(e) of this Agreement.
In the event the Fifth Bridge Closing has occurred and, subsequent to such date, any Credit Party or any Subsidiary receives the Additional Debt/Equity Proceeds, within one (1) Business Day receipt of such Additional Debt/Equity Proceeds, the Issuer shall prepay, or cause the prepayment, in full of the Fifth Bridge Notes.
The Borrowers shall, not later than 30 days next following each day any Net Debt/Equity Proceeds are received by any Borrower or any of its Subsidiaries, pay to the Agent on account of the Lenders the amount of such Net Debt/Equity Proceeds (each such payment to the Agent being referred to herein as a "Debt/Equity Proceeds Payment").
Upon issuance of the Senior Notes and application of the Net Debt/Equity Proceeds thereof as required by Section II.2(a) hereof, the Credit Agreement shall be amended by deleting Section 2.21(b) thereof.
If Holdings or any of its Subsidiaries shall, incur or permit the incurrence of any Indebtedness (including pursuant to debt securities which are convertible into, or exchangeable or exercisable for, any Capital Stock or Equity Rights) (other than Excluded Debt Incurrences) (each, a “Debt Incurrence”), 100% of the Net Debt/Equity Proceeds thereof shall be applied immediately after receipt thereof to prepay the Obligations outstanding under the Loans as set forth in Section 2.15(b).
Any Net Cash Proceeds of Asset Sales and Net Debt/Equity Proceeds in excess of such amounts as are required to be applied to the Loans in order to restore the Total Debt Service Coverage Ratio to the required level may be retained by Borrower, Parent Guarantor, Florida Resort Owner, Texas Resort Owner or the applicable Subsidiary Guarantor.
Any Net Cash Proceeds of Asset Sales and Net Debt/Equity Proceeds in excess of such amounts as are required to be applied to the Loans in order to restore the Senior Debt Service Coverage Ratio and Total Debt Service Coverage Ratio to the required levels may be retained by Co-Borrowers, Parent Guarantor or the applicable Subsidiary Guarantor.
In the event the Senior Notes are issued, and the Merger is not consummated on or prior to the Termination Date, then, on the Special Redemption Date, Parent Guarantor shall immediately deposit or cause to be deposited into the Completion Reserve Account all Net Debt/Equity Proceeds of the Senior Notes, net of the payments described in clauses (i) and (ii) of paragraph 2(a) of Section II hereof and the Special Redemption Payment.
The Companies' Consolidated Net Worth at any time to be less than the sum of (a) an amount equal to (i) the Companies' Consolidated Net Worth on the Closing Date as set forth in the Opening Balance Sheet, minus (ii) $500,000, plus (b) on a cumulative basis, 50% of positive Consolidated Net Income for each fiscal quarter beginning with the fiscal quarter ended September 26, 1999, plus (c) the Net Debt/Equity Proceeds with respect to any Equity Issuance after the date hereof.
In addition, except as otherwise required under Section 2.2, prior to the Final Completion Date, Parent Guarantor and Co-Borrowers shall deposit or cause to be deposited into the Completion Reserve Account as and when received (i) 100% of all Net Cash Proceeds of Asset Sales and (ii) 100% of all Net Debt/Equity Proceeds.