Examples of Debt Incurrence Proceeds in a sentence
Immediately upon the receipt of any Debt Incurrence Proceeds by any Loan Party or any Subsidiary of any Loan Party (other than Debt Incurrence Proceeds in respect of any Indebtedness permitted to be issued or incurred pursuant to Section 9.02), the Borrower shall use, or shall cause to be used, 100% of such Debt Incurrence Proceeds to prepay the Loans in accordance with Section 3.04(b)(vii).
The Convertible Senior Notes shall have been issued by the Borrower and the Borrower shall have received Debt Incurrence Proceeds therefrom in an amount equal to or greater than $95,000,000.
Each of the parties hereto acknowledge that, as contemplated in Section 6.02(j) the Credit Agreement, the Borrower is required to apply the Debt Incurrence Proceeds of Senior Unsecured Notes to repay in full the Subordinated Debt.
The Borrower shall prepay the Loans by an amount equal to 100% of the Debt Incurrence Proceeds that the Borrower or any of its Subsidiaries receives from each Debt Incurrence occurring after the Closing Date within 30 days after the date of each such Debt Incurrence; provided that, in no event shall the Credit Parties be required to deposit any Debt Incurrence Proceeds in excess of the amount required to repay the Loans.
Therefore, notwithstanding anything in the Subordination and Intercreditor Agreement to the contrary, Lenders hereby consent to (a) such repayment in full of the Subordinated Debt with such Debt Incurrence Proceeds, and (b) the termination of the Subordination and Intercreditor Agreement upon the payment in full of the Subordinated Debt and termination of the Subordinated Credit Agreement.