IPO Proceeds. The Company shall have received substantially concurrently with the Closing hereunder the proceeds from the IPO. This condition may not be waived by any party.
IPO Proceeds. The REIT shall have received the proceeds from the IPO. This condition may not be waived by any party.
IPO Proceeds. Gross proceeds from the sale of shares of Common Stock by the Company in the IPO shall not be less than $175,000,000.
IPO Proceeds. The Parent shall have received (or simultaneously with the closing of the Loans hereunder, the Parent will receive) net cash equity proceeds from the IPO in an amount not less than $85,000,000 on terms and conditions reasonably acceptable to the Administrative Agent.
IPO Proceeds. The Company shall have received the gross proceeds from the IPO. This condition may not be waived by any party.
IPO Proceeds. An initial public offering of common stock of the Borrower or its direct or indirect parent company, as the case may be, in an amount not less than $275,000,000 shall have been consummated on or prior to the date that is six months after the date of this Amendment;
IPO Proceeds. Subject to the terms of SECTION 11.11 of this Agreement, the Borrower shall use the Net Cash Proceeds of any IPO to promptly make mandatory Principal prepayments of the Bridge Notes in the manner set forth in SECTION 4.03(e) in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds of any IPO.
IPO Proceeds. The Company may use the net proceeds of an Initial Public Offering for general corporate purposes (including, without limitation, to repay in whole or in part the Obligations) not otherwise prohibited hereby and for (i) Capital Expenditures which are excluded from the calculation of Fixed Charge Coverage Ratio pursuant to clause (a)(ii) of the definition thereof and (ii) to repay in whole and in part the term loan portion of the loans outstanding under the SPV Credit Agreement, other than in accordance with the Holdings Bad Acts Guaranty (clauses (i) and (ii) being referred to as the “Specified Uses”). Notwithstanding any provision contained herein to the contrary, the aggregate amount expended by the Company on the Specified Uses will not exceed the net proceeds of the Initial Public Offering.
IPO Proceeds. Without duplication of subsection 1.9(c), upon the consummation of an IPO, promptly upon receipt of the Net Issuance Proceeds of such IPO by Holdings or any direct or indirect parent of Holdings who is the IPO issuer, Borrower shall deliver to Agent an amount equal to the Net Issuance Proceeds of such IPO in an amount not less than an amount sufficient to cause the Leverage Ratio for the period of twelve (12) consecutive Fiscal Periods most recently ended for which financial statements have been delivered or are required to be delivered pursuant to Section 4.1, on a pro forma basis after giving effect to such prepayment, to be equal to or less than 4.25 (or, if less, the amount of such proceeds Net Issuance Proceeds), for application to the Loans in accordance with subsection 1.9(g).
